Receiving Advances for purpose of availing Credit facilities, cannot be considered as gratuitous payments U/s 2(22)(e) of the Income Tax Act: ITAT
Receiving advances for purpose of availing credit facilities, cannot be considered as gratuitous payments under Section 2(22)(e) of the Income Tax...
![Levy of Income Tax on Both Land Owner and GPA Holder for Same Income amount to Double Taxation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Land-Owner-GPA-Holder-Income-Double-Taxation-ITAT-taxscan.jpg "Levy of Income Tax on Both Land Owner and GPA Holder for Same Income amount to Double Taxation: ITAT [Read Order]")
![Using Agricultural Produce for feeding Children in the Orphanage is Charitable Activity: ITAT allows Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Using-Agricultural-Produce-feeding-Children-Orphanage-Charitable-Activity-ITAT-Exemption-taxscan.jpeg "Using Agricultural Produce for feeding Children in the Orphanage is Charitable Activity: ITAT allows Exemption [Read Order]")
![Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Compensation-Compulsory-Acquisition-Land-ITAT-Taxscan.jpg "Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]")
![Setback to Lite-on Mobile: ITAT disallows grossed up portion of TDS deducted on Interest paid to AE on External Commercial Borrowings [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/11/8e1a8599-4064-47a4-acd2-6312eb4c14d7.jpg "Setback to Lite-on Mobile: ITAT disallows grossed up portion of TDS deducted on Interest paid to AE on External Commercial Borrowings [Read Order]")
Once Addition towards alleged Bogus Purchases made, Additions of similar amounts can’t be made as it leads to Double Addition: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench ruled that once Addition towards alleged bogus purchases made, additions of similar amounts can not be made as it leads to Double Addition. ...
![Once Addition towards alleged Bogus Purchases made, Additions of similar amounts can’t be made as it leads to Double Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/bogus-purchases-ITAT-Taxscan.jpg "Once Addition towards alleged Bogus Purchases made, Additions of similar amounts can’t be made as it leads to Double Addition: ITAT [Read Order]")
ITAT: Compensation received for pre-closure of Contract Manufacturing Agreement is Capital Receipt; not Taxable [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai on Monday ruled that that compensation received for pre-closure of contract manufacturing agreement is in the nature of capital receipt paid for loss...
![ITAT: Compensation received for pre-closure of Contract Manufacturing Agreement is Capital Receipt; not Taxable [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Compensation-manufacturing-agreement-is-Capital-Receipt-Taxscan.jpg "ITAT: Compensation received for pre-closure of Contract Manufacturing Agreement is Capital Receipt; not Taxable [Read Order]")
Relief to Dodla International: License Fee for licensing a fully furnished Hotel along with License to run the Hotel Taxable as 'Other Income': ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai on February 8 ruled that license fee received by an assessee for licensing a fully furnished hotel along with a license to run the hotel is a business...
![Relief to Dodla International: License Fee for licensing a fully furnished Hotel along with License to run the Hotel Taxable as Other Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Dodla-International-License-fee-hotel-Other-Income-ITAT-Taxscan.jpg "Relief to Dodla International: License Fee for licensing a fully furnished Hotel along with License to run the Hotel Taxable as Other Income: ITAT [Read Order]")
Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]
The Income Tax Appellate on January 28, 2021, held that a mere landowner is not entitled to the deduction u/s 80-IB(10) if they have not incurred any cost or risk towards any developmental activity. ...
![Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Landowner-developmental-activity-Taxscan.jpg "Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]")