![Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Weighted-Deduction-Income-Tax-Act-when-DSIR-Form-3CM-ITAT-taxscan.jpg "Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]")
Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the weighted deduction is allowable under Section 35(2AB) of the Income Tax...
![Provision for retirement pension of Hindustan Unilever employees is made for Business Purpose: ITAT allows deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provision-for-retirement-pension-Provision-for-retirement-pension-of-Hindustan-Unilever-employees-Business-Purpose-ITAT-allows-deduction-ITAT-taxscan.jpg "Provision for retirement pension of Hindustan Unilever employees is made for Business Purpose: ITAT allows deduction [Read Order]")
![Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fee-paid-to-holding-company-dvisory-service-during-course-of-business-deduction-Income-Tax-Act-ITAT-upholds-DRP-decision-taxscan.jpg "Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]")
![Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Guarantee-fee-paid-holding-company-for-loan-advanced-by-assessee-company-business-expediency-ITAT-deduction-Income-Tax-Act-taxscan.jpg "Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]")
![Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-Income-Tax-Act-Assessee-Conditions-ITAT-taxscan.jpg "Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]")
Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction under section 10A of the Income Tax Act, 1961 has to be computed before setoff carry forward business loss and depreciation....
![Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-of-Income-Tax-Act-Carry-Forward-of-Business-Loss-Depreciation-ITAT-Income-Tax-taxscan.jpg "Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]")
ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the estimated addition made by the Assessing Officer (AO) in a hypothetical way by making disallowance of loss claimed by the...
![ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Estimated-AO-Hypothetical-Disallowance-Loss-claimed-Assessee-Income-Tax-Act-TAXSCAN.jpg "ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]")
Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain deduction under Section 54 of the Income Tax Act, 1961 could be allowable in the year of handing over of...
![Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Capital-Gain-Deduction-Year-Handing-Possession-Year-Payment-Consideration-ITAT-TAXSCAN.jpg "Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]")
Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction on actual cost is allowable before the imposition of tax on the entire amount received from the sale of land. A...
![Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-on-Actual-cost-imposition-of-Tax-Deduction-amount-received-from-Sale-of-land-ITAT-directs-fresh-Adjudication-Sale-of-land-taxscan.jpg "Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]")
Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that extraction of minerals from beach sand involve change in non-living physical object / article into a new and distinct object /...
![Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Extraction-Minerals-Beach-sand-Manufacturing-Process-Income-Tax-Act-ITAT-Income-Tax-Deduction-TAXSCAN.jpg "Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]")
Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 80P of the Income Tax Act ,1961 holding that the assessee co-operative society would be governed by...
![Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessee-Co-Operative-Society-ITAT-income-tax-act-Maharashtra-Co-Operative-Society-Act-taxscan.jpg "Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]")
Assessee can't claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee cannot claim a deduction for the cash purchase of land when the amount exceeds the permissible limit of Rs....
![Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Assessee-claim-Deduction-Cash-Purchase-land-Amount-Income-Tax-Act-ITAT-TAXSCAN.jpg "Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]")