![Mutual Fund withdrawals invested in Villa and Bank eligible for S. 54F Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Deduction-Residential-Property.jpg "Mutual Fund withdrawals invested in Villa and Bank eligible for S. 54F Deduction: ITAT [Read Order]")
Mutual Fund withdrawals invested in Villa and Bank eligible for S. 54F Deduction: ITAT [Read Order]
The Bengaluru bench of ITAT in ACIT v. Sunil Bandacharya Joshi held that the assessee is entitled to get income tax deduction on the mutual fund...
![ITAT rejects Fake Claim for Deduction of Salary paid to Husband and Daughter [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Salary-Taxscan.jpg "ITAT rejects Fake Claim for Deduction of Salary paid to Husband and Daughter [Read Order]")
![Expenses related to the Fundamentals of Business can’t be Disallowed merely because it is not Vouched: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Expenses-Taxscan.jpg "Expenses related to the Fundamentals of Business can’t be Disallowed merely because it is not Vouched: ITAT [Read Order]")
![Depreciation Not allowable on Intangible asset on payment of Non-compete Fees for Acquiring Going Concern: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "Depreciation Not allowable on Intangible asset on payment of Non-compete Fees for Acquiring Going Concern: ITAT [Read Order]")
![An Industry which Ceases to be a SSI is not Eligible for Income Tax Deduction, says Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Income-Tax-Deduction-Taxscan-1.jpg "An Industry which Ceases to be a SSI is not Eligible for Income Tax Deduction, says Supreme Court [Read Judgment]")
SC Allows Income Tax Deduction on Excise Duty Paid in Advance in the Personal Ledger Account [Read Judgment]
A two-judge bench of the Supreme Court of India, while dismissing a departmental appeal against M/s Modipon Ltd, categorically held that the advance deposit of central excise duty constitutes actual...
![SC Allows Income Tax Deduction on Excise Duty Paid in Advance in the Personal Ledger Account [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "SC Allows Income Tax Deduction on Excise Duty Paid in Advance in the Personal Ledger Account [Read Judgment]")
![Kannan Devan Plantations eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/11/Kannan-Devan-Plantations.jpg "Kannan Devan Plantations eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]")
Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]
The Central Government, on Friday notified International Crops Research Institute for the Semi-Arid Tropics (‘ICRISAT’) as an eligible Scientific Research Association for the purpose of section...
![Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/11/ICRISAT-TAXSCAN.jpg "Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]")
Rental Income received by Infosys fom Its Subsidiary and BSNL constitute Profits from undertaking, Eligible for IT Deduction: ITAT [Read Order]
While granting tax relief to Infosys, Bangalore bench of the Income tax Appellate Tribunal held that the rental income received from Infosys BPO Limited and BSNL, Chennai are eligible for income tax...
![Rental Income received by Infosys fom Its Subsidiary and BSNL constitute Profits from undertaking, Eligible for IT Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Infosys-Taxscan.jpg "Rental Income received by Infosys fom Its Subsidiary and BSNL constitute Profits from undertaking, Eligible for IT Deduction: ITAT [Read Order]")
No IT Deduction If Assessee purchases Another entities’ Business Unit including plant & Machinery to Form a Separate Industrial Undertaking: Allahabad HC
A division bench of the Allahabad High Court recently ruled that the benefit of Section 80IB of the Income Tax Act, 1961 is not available to assessee for the purchase of business unit including plant...
Co-Operative Banks engaged in Banking Business are Eligible for Income Tax Deduction: Allahabad HC [Read Order]
While dismissing a departmental appeal, a division bench of the Allahabad High Court recently observed that deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961 can be allowed to...
Cochin International Airport is Eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]
While allowing a major relief to the Cochin International Airport, Justices Antony Dominic and Dama seshadri Naidu of Kerala High Court held that the airport authority is eligible for the benefit of...
![Cochin International Airport is Eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Cochin-International-Airport.jpg "Cochin International Airport is Eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]")