![Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-to-Hindustan-Unilever-ITAT-deletes-disallowance-expenses-of-spouses-of-employees-of-company-business-tour-employees-of-company-taxscan-1.jpg "Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]")
Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench while providing relief to Hindustan Unilever, deleted the disallowance made towards foreign...
![Capital gain exemption u/s 54F shall be available if assessee purchased Property outside India prior to amendment in Finance Act, 2014: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Capital-gain-exemption-Capital-gain-assessee-purchased-Property-outside-India-purchased-Property-outside-India-amendment-in-Finance-Act-ITAT-taxscan.jpg "Capital gain exemption u/s 54F shall be available if assessee purchased Property outside India prior to amendment in Finance Act, 2014: ITAT [Read Order]")
![AO cannot step in the shoes of businessman to decide curtailing of excessive expenditure unless brought evidence of fraud: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/shoes-of-businessman-curtailing-of-excessive-expenditure-evidence-of-fraud-ITAT-deletes-addition-taxscan-.jpg "AO cannot step in the shoes of businessman to decide curtailing of excessive expenditure unless brought evidence of fraud: ITAT deletes addition [Read Order]")
![Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fee-paid-to-holding-company-dvisory-service-during-course-of-business-deduction-Income-Tax-Act-ITAT-upholds-DRP-decision-taxscan.jpg "Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]")
![ITAT sets aside revision order in the absence of finding error in the order of AO in allowing assessees claim earned from sale of land as being in the nature of capital gains u/s 54EC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-revision-order-order-of-AO-in-allowing-assessees-claim-from-sale-of-land-capital-gain-taxscan.jpg "ITAT sets aside revision order in the absence of finding error in the order of AO in allowing assessees claim earned from sale of land as being in the nature of capital gains u/s 54EC [Read Order]")
Incurring expenditure for the purpose of expansion of business is allowable u/s 271(C) of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that NBFC being financial company tried to enter in to banking business and for this purpose the assessee incurred expenditure on...
![Incurring expenditure for the purpose of expansion of business is allowable u/s 271(C) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Incurring-expenditure-expansion-of-business-Income-Tax-Act-ITAT.jpg "Incurring expenditure for the purpose of expansion of business is allowable u/s 271(C) of Income Tax Act: ITAT [Read Order]")
Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that guarantee fees paid to the holding company for loan advanced by assessee company to third party is business expediency. Therefore the...
![Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Guarantee-fee-paid-holding-company-for-loan-advanced-by-assessee-company-business-expediency-ITAT-deduction-Income-Tax-Act-taxscan.jpg "Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]")
Treatment of interest income/miscellaneous receipts earned from employees of Gujarat State Electricity Corporation through advancing loan and facilities: ITAT directs Re-adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad  bench directed re-adjudication in respect of treatment of interest income /miscellaneous receipts earned from employees of Gujarat Electricity...
![Treatment of interest income/miscellaneous receipts earned from employees of Gujarat State Electricity Corporation through advancing loan and facilities: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/TREATM1.jpg "Treatment of interest income/miscellaneous receipts earned from employees of Gujarat State Electricity Corporation through advancing loan and facilities: ITAT directs Re-adjudication [Read Order]")
TATA Communications approaches Appellate Tribunal against Rs. 228.49 crores TDS Order by Income Tax Department
TATA Communications has taken the matter of a Rs. 228.49 crore Tax Deduction at Source (TDS) on Interconnection Usage Charges (IUC) payment order issued by the Income Tax Department to the Income Tax...
Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the unsecured loans and share application money could not be bogus in the absence of evidence as to identity and...
![Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Loans-Share-Application-Money-Bogus-Absence-Evidence-Identity-Creditworthiness-Creditors-Genuineness-Transaction-ITAT-TAXSCAN.jpg "Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]")
Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the gain arising on account of revaluation of the outstanding forward contract as on the last of the previous year as per the...
![Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gain-Loss-arising-out-of-Foreign-Exchange-Fluctuation-Profit-or-Loss-Accrued-Foreign-Exchange-Fluctuation-ITAT-reinstates-Income-Tax-Addition-taxscan.jpg "Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]")
Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction under section 10A of the Income Tax Act, 1961 has to be computed before setoff carry forward business loss and depreciation....
![Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-of-Income-Tax-Act-Carry-Forward-of-Business-Loss-Depreciation-ITAT-Income-Tax-taxscan.jpg "Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]")