Relief to Shell Information Technology: ITAT rules Payment for IT Support Services not considered as FTS under Article 12 of India - Netherlands DTAA
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, ruling that payments for IT...
![ITAT upholds TNMM Method Over CUP for Benchmarking Export Transactions under Manufacturing Segment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-TNMM-Over-CUP-Benchmarking-Export-Transactions-Manufacturing-Segment-taxscan.jpg "ITAT upholds TNMM Method Over CUP for Benchmarking Export Transactions under Manufacturing Segment [Read Order]")
![STCL Off settable Against STCG across Assets Regardless of Tax Rate Disparity u/s 70 (2) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Income-tax-Tax-rate-disparity-Short-term-capital-loss-Short-term-capital-gain-taxscan.jpg "STCL Off settable Against STCG across Assets Regardless of Tax Rate Disparity u/s 70 (2) of Income Tax Act: ITAT [Read Order]")
![Compensation Afforestation Fund Contributed by TATA Steel is an allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Compensation-Afforestation-Fund-TATA-Steel-taxscan.jpg "Compensation Afforestation Fund Contributed by TATA Steel is an allowable Expenditure: ITAT [Read Order]")
![AO fails to Implement DRP Directions while Passing Final Assessment Order: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Assessment-Order-Dispute-Resolution-Panel-DRP-Dispute-Resolution-Panel-guidelines-Taxscan.jpg "AO fails to Implement DRP Directions while Passing Final Assessment Order: ITAT quashes Assessment Order [Read Order]")
Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]
In a recent decision the Madras High Court observed that the assessment order issued beyond time-limit under Section 144C(13) of the Income Tax Act, 1961 is unsustainable. The petitioner filed...
![Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Madras-High-Court-Assessment-Order-Income-Tax-Income-tax-news-taxscan.jpg "Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]")
![Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Kolkata-ITAT-Income-Tax-ITAT-Decision-on-Depreciation-Removal-ITAT-Net-Margin-Calculation-Guidelines-Taxscan.jpg "Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]")
Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that expenditure incurred on sheleed projects are revenue expenditure and deleted the disallowance made by the assessing...
![Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Revenue-Expenditure-Revenue-Expenditure-on-Shelved-Projects-ITAT-Decision-on-Project-Expenditure-Taxscan.jpg "Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]")
Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Mumbai bench held that expenses excluded from the export turnover are to be excluded from the total turnover while computing the deduction under Section...
![Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Section-10A-of-Income-tax-act-Export-turnover-Tax-deduction-taxscan.jpg "Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]")
Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]
In a significant ruling the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that non reply to Section 133(6) of the Income Tax Act, 1961, notice cannot necessarily lead to...
![Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-Act-Notice-necessarily-lead-Disallowance-Petty-Expenses-ITAT-taxscan.jpg "Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]")
Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that goodwill was an intangible asset, depreciation allowable under Section 32(1) of the Income Tax Act, 1961 The assesse...
![Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Hyderabad-Goodwill-Intangible-asset-Taxation-on-depreciation-taxscan.jpg "Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]")
No objection to draft assessment order filed by assessing authority is palpably wrong:Â Kerala HC sets aside assessment order [Read Order]
The Kerala High Court set aside the assessment order as it deemed the assessing authority's failure to file objections to the draft assessment order palpably wrong. The Petitioner was a...
