![No Documentary Evidence to substantiate Performance Related Pay as Expenditure, claim not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/documentary-evidence-expenditure-ITAT-taxscan.jpg "No Documentary Evidence to substantiate Performance Related Pay as Expenditure, claim not sustainable: ITAT [Read Order]")
No Documentary Evidence to substantiate Performance Related Pay as Expenditure, claim not sustainable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), of Kolkata bench has held that the claim of Performance Related Pay (PRP) is not sustainable when no...
![Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-paid-convertible-debentures-interest-equity-expenditure-ITAT-taxscan.jpg "Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]")
![Expenditure claimed towards Write-off Investment in Capital Loss cannot be allowed as Deduction u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Expenditure-Investment-Capital-Loss-Deduction-ITAT-taxscan.jpg "Expenditure claimed towards Write-off Investment in Capital Loss cannot be allowed as Deduction u/s 37(1): ITAT [Read Order]")
![Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t create Commercial Right: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Depreciation-Expenditure-professional-legal-services-ITAT-taxscan.jpg "Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t create Commercial Right: ITAT [Read Order]")
![Relief to Times Internet: Consultation Fee paid to EY Allowable as Expenditure, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Times-Internet-Consultation-Fee-EY-Expenditure-ITAT-Taxscan.jpeg "Relief to Times Internet: Consultation Fee paid to EY Allowable as Expenditure, rules ITAT [Read Order]")
Remuneration to Partner out of Profit is not ‘Salary’, cannot be treated as ‘Expenditure’ for the purpose of S. 40A(3): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the remuneration paid to Partner out of the share of profit cannot be treated as ‘salary’ to consider the same as “expenditure”...
![Remuneration to Partner out of Profit is not ‘Salary’, cannot be treated as ‘Expenditure’ for the purpose of S. 40A(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Remuneration-Profit-Salary-Expenditure-ITAT-Taxscan.jpeg "Remuneration to Partner out of Profit is not ‘Salary’, cannot be treated as ‘Expenditure’ for the purpose of S. 40A(3): ITAT [Read Order]")
Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]
The ITAT, Delhi bench has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure for the purpose of the Income Tax Act, 1961. Before the Tribunal, the...
![Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Royalty-Expenditure-Technical-Revenue-Expenditure-ITAT-taxscan.jpeg "Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]")
Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received on loan given to related party for business purpose cannot be subjected to provisions of section...
![Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Interest-Loan-party-business-Income-Tax-Act-taxscan.jpg "Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]")
Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the donation made to the local clubs/bodies during festival/sports to have good relations with them for the smooth running...
![Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Donation-local-clubs-local-bodies-festival-sports-Expenditure-ITAT-Deduction-Taxscan.jpg "Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]")
![Expenditure incurred on Promotion for Brand ‘Snapdeal’ is purely Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Expenditure-promotion-Snapdeal-revenue-ITAT-Taxscan.jpeg "Expenditure incurred on Promotion for Brand ‘Snapdeal’ is purely Revenue in Nature: ITAT [Read Order]")
Expenditure incurred allowable to Company on Lands purchased from its Directors as substantial profits were earned by company: Madras High Court [Read Judgment]
The Madras High Court held that expenditure incurred is allowable to the company on lands purchased from its Directors as substantial profits were earned by the company. The respondent-assessee,...
![Expenditure incurred allowable to Company on Lands purchased from its Directors as substantial profits were earned by company: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/08/Expenditure-substantial-profits-Madras-High-Court-Taxscan.jpeg "Expenditure incurred allowable to Company on Lands purchased from its Directors as substantial profits were earned by company: Madras High Court [Read Judgment]")
Encashment of Bank Guarantee is incurred in Normal Course of Business: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench while deleting the addition ruled that the encashment of bank guarantee is incurred in the normal course of business. The assessee, Ogene...
![Encashment of Bank Guarantee is incurred in Normal Course of Business: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Encashment-of-bank-guarantee-normal-course-of-business-ITAT-taxscan.jpeg "Encashment of Bank Guarantee is incurred in Normal Course of Business: ITAT deletes Addition [Read Order]")