Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot...
![Michelin India not eligible for Deduction of Expenses incurred for Sales Promotion in Indian Market: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Michelin-sales-promotion-Deduction-Expenses-Indian-market-ITAT-Taxscan.jpeg "Michelin India not eligible for Deduction of Expenses incurred for Sales Promotion in Indian Market: ITAT [Read Order]")
![Excess of Income over Expenditure in the Hands of Company is Taxable: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Deductions-Supreme-Court-of-India-Taxscan.jpg "Excess of Income over Expenditure in the Hands of Company is Taxable: Supreme Court [Read Judgment]")
![Reimbursement of Property Tax to Landlord under Contract is an Allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/12/Reimbursements-ITAT-Taxscan.jpg "Reimbursement of Property Tax to Landlord under Contract is an Allowable Expenditure: ITAT [Read Order]")
ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Ahmedabad held that General Deduction allowable on Legal and Professional Fees incurred for the improvement of day to day working of Company. During the...
![ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/ITAT-Legal-Deduction-Legal-Professsional-Fees-Taxscan.jpg "ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]")
Developer cannot claim Deduction on Expenses incurred on Land if Bills were generated after It’s Transfer: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the developer is not eligible for claiming deduction in respect of the expenses incurred on the land if the bills were raised...
![Developer cannot claim Deduction on Expenses incurred on Land if Bills were generated after It’s Transfer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Deduction-land-Developer-Expenses-ITAT-Taxscan.jpg "Developer cannot claim Deduction on Expenses incurred on Land if Bills were generated after It’s Transfer: ITAT [Read Order]")
Activity of Advertisement and Sale Promotion is post Import Activity, Importer not obliged to pay any amount on such Expenditure: CESTAT [Read Order]
In the case of M/s Indo Rubber and Plastic Works vs. Commissioner of Custom, the Custom, Excise, and Service Tax Appellate Tribunal (CESTAT) held that the expenditure incurred on the activities of...
![Activity of Advertisement and Sale Promotion is post Import Activity, Importer not obliged to pay any amount on such Expenditure: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Advertisement-Sale-Promotion-Li-Ning-CESTAT-Taxscan.jpg "Activity of Advertisement and Sale Promotion is post Import Activity, Importer not obliged to pay any amount on such Expenditure: CESTAT [Read Order]")
![Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Charitable-Rental-Income-Taxscan.jpg "Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order]")
![Lawyer Fee can be deducted from Taxable Income: Gujarat High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Lawyer-Fee-Taxable-Income-Expenditure-Gujarat-High-Court-Taxscan.jpg "Lawyer Fee can be deducted from Taxable Income: Gujarat High Court [Read Order]")
No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that, No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India. The ITAT has...
![No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Expenditure-Taxscan.jpg "No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]")
Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that mere entries in the books of accounts do not establish the genuineness of the expenditure. The appellant is an individual engaged...
![Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Professional-Fee-Business-Expenditure-Taxscan.jpg "Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]")