![No Disallowance of Expenditure merely on the basis of Surmises and Conjectures of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Expenditure-Taxscan.jpg "No Disallowance of Expenditure merely on the basis of Surmises and Conjectures of AO: ITAT [Read Order]")
No Disallowance of Expenditure merely on the basis of Surmises and Conjectures of AO: ITAT [Read Order]
The Cuttack bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance of expenditure cannot be merely on the basis of surmises...
![Compounding Fee paid to Legal Metrology Dept is an allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/08/Compounding-Fee-Expenditure-Taxscan.jpg "Compounding Fee paid to Legal Metrology Dept is an allowable Expenditure: ITAT [Read Order]")
![Property Tax paid in respect of Leased Property is allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/01/Property-Tax-Taxscan.jpg "Property Tax paid in respect of Leased Property is allowable as Expenditure: ITAT [Read Order]")
![Expenditure of Premium of Redemption of Foreign Currency Convertible Bonds is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Foreign-Currency.jpg "Expenditure of Premium of Redemption of Foreign Currency Convertible Bonds is Revenue in Nature: ITAT [Read Order]")
![Project Development Expenditure is Revenue in Nature, Allowable u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Expenditure-Reliance-Digital-Taxscan.jpg "Project Development Expenditure is Revenue in Nature, Allowable u/s 37(1): ITAT [Read Order]")
Loss due to Encashment of Bank Guarantee for Non-Fulfilment of the Work awarded to the assessee is allowable Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) New Delhi, in Green Delhi BQS Limited vs. ACIT, held that loss due to encashment of bank guarantee for non-fulfilment of the work awarded to the assessee is...
![Expenditure incurred for Club Membership Fees is Allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Expenditure-Club-Membership-Fees-Deloitte-Taxscan.jpg "Expenditure incurred for Club Membership Fees is Allowable: ITAT [Read Order]")
Expenditure related to Earning of Income from Other Sources only is Allowable u/s 57(iii): ITAT [Read Order]
A single bench of Sunil Kumar Yadav (Judicial Member) recently confirmed that expenditure strictly related to earning of Income from other sources is to be allowed under Section 57(iii) of the Income...
Expenditure cannot be disallowed since Assessee followed Accounting Standard issued by ICAI: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), on Friday held that the expenditure cannot be disallowed when the assessee has followed the Accounting Standard issued by the Institute of...
![Expenditure cannot be disallowed since Assessee followed Accounting Standard issued by ICAI: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Laptop-of-Chartered-Accountant.jpg "Expenditure cannot be disallowed since Assessee followed Accounting Standard issued by ICAI: ITAT [Read Order]")
Expenditure on Payment of Service Tax cant be Deemed as Unexplained If Same was done through Banking Channel: ITAT [Read Order]
The Jabalpur bench of ITAT, on Wednesday held that the expenditure incurred on payment of service tax cannot be deemed as unexplained for the purpose of Income Tax Act if the same was done through...
![Expenditure on Payment of Service Tax cant be Deemed as Unexplained If Same was done through Banking Channel: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Expenditures-TAXSCAN.jpg "Expenditure on Payment of Service Tax cant be Deemed as Unexplained If Same was done through Banking Channel: ITAT [Read Order]")
Payments of ‘Donation & Subscription’ are allowable as Expenditure Even without any Receipt /80G Certificate: ITAT Kolkata [Read Order]
A division bench of the Kolkata Appellate Tribunal, in Pioneer Himudyog P. Ltd. V. ACIT, held that payments in respect of “Donation & Subscription”, which are incidental to the business activities...
![Payments of ‘Donation & Subscription’ are allowable as Expenditure Even without any Receipt /80G Certificate: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Donation-Taxscan.jpg "Payments of ‘Donation & Subscription’ are allowable as Expenditure Even without any Receipt /80G Certificate: ITAT Kolkata [Read Order]")