![Consumable Tools are Revenue in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Consumable-Tools-Revenue-ITAT-Deduction-Walvoil-Fluid-Power-India-taxscan.jpg "Consumable Tools are Revenue in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]")
Consumable Tools are 'Revenue' in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]
The ITAT Bangalore, while granting relief to M/s Walvoil Fluid Power India Pvt Ltd, held that the consumable tools are revenue in nature and...
![Donations are Lifeline of Charitable Trust: AO cannot deny Approval without verifying Activities, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Bangalore-Donations-Lifeline-Charitable-Trust-AO-ITAT-Taxscan.jpeg "Donations are Lifeline of Charitable Trust: AO cannot deny Approval without verifying Activities, rules ITAT [Read Order]")
![Business Promotion Expenses incurred exclusively for the purpose of business can’t be Disallowed: ITAT remits the matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Business-Promotion-Expenses-ITAT-AO-Taxscan.jpg "Business Promotion Expenses incurred exclusively for the purpose of business can’t be Disallowed: ITAT remits the matter to AO [Read Order]")
![Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Foreign-Currency-commodity-Speculative-Transactions-ITAT-Lifestyle-International-Taxscan.jpeg "Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]")
![Relief to Shobha City: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Sobha-city-ITAT-Taxscan.jpg "Relief to Shobha City: ITAT deletes Addition [Read Order]")
Consideration paid to Non-Resident Software Manufactures or Suppliers doesn't give rise to Income Taxable, No TDS deductible: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that consideration paid to non-resident software manufactures or suppliers does not give rise to income taxable in India and was not...
![Consideration paid to Non-Resident Software Manufactures or Suppliers doesnt give rise to Income Taxable, No TDS deductible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/non-resident-software-manufactures-income-taxable-TDS-ITAT-Taxscan.jpeg "Consideration paid to Non-Resident Software Manufactures or Suppliers doesnt give rise to Income Taxable, No TDS deductible: ITAT [Read Order]")
![Assessee unable to recollect Source of Income due to Memory Loss: ITAT confirms Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Source-of-Income-ITAT-Taxscan.jpg "Assessee unable to recollect Source of Income due to Memory Loss: ITAT confirms Addition [Read Order]")
Amount Invested in Purchase of House in Daughter’s name eligible for Exemption under Section 54F: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench ruled that the amount invested in purchase of house in daughter’s name is eligible for exemption under section 54F. The assessee,...
![Amount Invested in Purchase of House in Daughter’s name eligible for Exemption under Section 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Amount-invested-purchase-of-house-daughters-name-eligible-exemption-section-54F-ITAT-Taxscan.jpeg "Amount Invested in Purchase of House in Daughter’s name eligible for Exemption under Section 54F: ITAT [Read Order]")
Sec. 50C can't be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore held, Section 50C of the Income Tax Act can't be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a...
![Sec. 50C cant be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Registration-of-Sale-Deed-Actual-Transfer-ITAT-Taxscan.jpg "Sec. 50C cant be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]")
Another Woman-friendly Judgment from Tax Tribunal: ITAT grants Exemption Amount invested in the purchase of residential housing in widowed Daughter’s name
The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that amount invested in purchase of residential house in daughter’s name is eligible for exemption under section 54F of the Income Tax...
Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appellate authorities. The assessee, M/s....
![Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/deduction-of-gratuity-appellate-authorities-ITAT-Taxscan.jpg "Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]")
Relief to Vascular Concepts Ltd: ITAT deletes disallowance of Business Promotion Expenses [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench deleted the disallowance of business promotion expenses. The appellant, M/s. Vascular Concepts Limited challenged the notice issued under...
![Relief to Vascular Concepts Ltd: ITAT deletes disallowance of Business Promotion Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-business-promotion-expenses-Taxscan.jpg "Relief to Vascular Concepts Ltd: ITAT deletes disallowance of Business Promotion Expenses [Read Order]")