![Foreign Exchange Loss cannot be Included in Cost of Project: ITAT directs to allow a Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Foreign-Exchange-Loss-Cost-of-Project-ITAT-Deduction-TAXSCAN.jpg "Foreign Exchange Loss cannot be Included in Cost of Project: ITAT directs to allow a Deduction [Read Order]")
Foreign Exchange Loss cannot be Included in Cost of Project: ITAT directs to allow a Deduction [Read Order]
In a recent case, the Income Tax Appellate Tribunal (ITAT) observed that foreign exchange loss cannot be included in the cost of the project and...
![Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Investment-Gold-Investment-in-Gold-Foreign-Companies-ITAT-CITA-taxscan.jpg "Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]")
![Payment of Management Fees to ATS can be added to Income of Assessee: Delhi HC upholds Deletion of Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Payment-Management-Fees-ATS-Income-of-Assessee-Delhi-HC-Deletion-of-Disallowance-TAXSCAN.jpg "Payment of Management Fees to ATS can be added to Income of Assessee: Delhi HC upholds Deletion of Disallowance [Read Order]")
![Expansion of Telecommunication Service with Internet Service does Not change Infrastructure: Delhi HC upholds Deletion of Disallowance of Deduction u/s 80IA of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Expansion-of-Telecommunication-Service-Telecommunication-Service-Internet-Service-taxscan.jpg "Expansion of Telecommunication Service with Internet Service does Not change Infrastructure: Delhi HC upholds Deletion of Disallowance of Deduction u/s 80IA of Income Tax Act [Read Order]")
![ITAT directs to produce CA certificate in prescribed Form 26Â to re-adjudicate disallowance made u/s.40(a)(ia) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-directs-to-produce-CA-certificate-in-prescribed-Form-26-re-adjudicate-disallowance-Income-Tax-Act-TAXSCAN.jpg "ITAT directs to produce CA certificate in prescribed Form 26Â to re-adjudicate disallowance made u/s.40(a)(ia) of Income Tax Act [Read Order]")
Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that, income tax authorities cannot determine how much expenditure should have been incurred for the purpose of business. The appellant,...
![Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-INCOME-TAX-expenditure-Authoritie-TAXSCAN.jpg "Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]")
[BREAKING] Supreme Court refuses to decide Revenue/Capital Nature of Carbon Credit Receipts as not raised by Department in Jindal Steel & Power Case [Read Order]
The Apex Court has refused to give a verdict on the issue whether Carbon Credit is a revenue or capital receipt as not pressed by the department in a batch of Income tax appeals against Jindal Steel...
[BREAKING] Relief to Jindal Steel & Power: Supreme Court upholds deletion of Addition made on Payment to SK Gupta and Group of Companies [Read Order]
In a major relief to Jindal Steel and Power Ltd, the Supreme Court has upheld the deletion of addition made on payments made to S K Gupta and group of companies. This brings us to the second of...
No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that no disallowance should be made under Section 14A of the Income Tax Act, 1961, when assessees have their own funds exceeding...
![No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/macro-tech-Developers-Income-Tax-Act-Investments-earning-Exempt-Income-taxscan.jpg "No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]")
No Transfer of Possession in Development Agreement: Supreme Court upholds quashing of Income Tax Notice u/s 148 [Read Order]
The Supreme Court has dismissed a Special Leave Petition (SLP) filed by the Income Tax Department against the Bombay High Court order that quashed the notice issued to assessee under Section 148 of...
![No Transfer of Possession in Development Agreement: Supreme Court upholds quashing of Income Tax Notice u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Transfer-Transfer-of-Possession-in-Development-Agreement-Possession-taxscan.jpg "No Transfer of Possession in Development Agreement: Supreme Court upholds quashing of Income Tax Notice u/s 148 [Read Order]")
ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, has annulled the disallowance of a long-term capital loss arising from the sale of shares of a private company to its initial promoters. In this...
![ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-deletes-disallowance-Long-Term-Capital-Loss-Capital-Loss-Sale-of-Share-Share-of-private-company-private-company-initial-promoters-promoters.webp "ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]")
Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the order of the Commissioner of Income Tax (Appeal) [CIT(A)] due to disallowance of loss due to incorrect comprehension of Section...
![Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Disallowance-of-Loss-Incorrect-Comprehension-Income-Tax-Act-ITAT-CITA-taxscan.jpg "Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]")