Budget 2019: Additional Deduction of up to Rs.1.5 lakh for Interest Paid on Loans for Purchase of Affordable House
The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and Rs. 5 crore and above is...
![Remuneration to Director in proportion to his Experience which has no bearing on his shareholding is not Dividend: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Company-Director-Taxscan.jpg "Remuneration to Director in proportion to his Experience which has no bearing on his shareholding is not Dividend: ITAT [Read Order]")
![Purchase of Land before Sale of Capital Asset ineligible for Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/05/Capital-Asset-ITAT-Taxscan.jpg "Purchase of Land before Sale of Capital Asset ineligible for Income Tax Deduction: ITAT [Read Order]")
![Manufacture of Herbal Products eligible for Income Tax Deduction: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2019/03/Deduction-Income-Tax-Calvin-Care-Taxscan.jpg "Manufacture of Herbal Products eligible for Income Tax Deduction: Madras HC [Read Judgment]")
![Film Production Unit eligible for Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/02/Film-Production-Unit-K-T-Kunjumon-Taxscan.jpg "Film Production Unit eligible for Income Tax Deduction: ITAT [Read Order]")
Amendment to S. 80A(5) does not bar Assessee from revising Computation for Deduction: Delhi High Court [Read Judgment]
The Delhi High Court has held that the amended 80A (5) cannot be read as a stipulation barring and restricting the assessee from revising the computation/claim for deduction made in accordance with...
![Amendment to S. 80A(5) does not bar Assessee from revising Computation for Deduction: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/05/Technical-Service-Charges-Delhi-High-Court-Taxscan.jpg "Amendment to S. 80A(5) does not bar Assessee from revising Computation for Deduction: Delhi High Court [Read Judgment]")
![Bonus paid to Directors allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Incentive-Bonus-Taxscan.jpg "Bonus paid to Directors allowable as Deduction: ITAT [Read Order]")
Deduction Claim accepted in Previous Years can’t be denied on ground of mere changes in Business: Delhi HC [Read Judgment]
A division bench of the Delhi High Court has held that a claim for deduction under section 10AA of the Income Tax Act which was accepted in previous years cannot be denied later due to a mere change...
![Deduction Claim accepted in Previous Years can’t be denied on ground of mere changes in Business: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/12/Deduction-Taxscan.jpg "Deduction Claim accepted in Previous Years can’t be denied on ground of mere changes in Business: Delhi HC [Read Judgment]")
No Income Tax Deduction to Law Firm for Expenses incurred for Pleasure Tour by Counsels and Family: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that no income tax deduction can be given to the law firm, Luthra and Luthra for the expenses incurred by it for the pleasure tour...
![No Income Tax Deduction to Law Firm for Expenses incurred for Pleasure Tour by Counsels and Family: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/01/Income-Tax-Deduction-Luthra-and-Luthra-Taxscan.jpg "No Income Tax Deduction to Law Firm for Expenses incurred for Pleasure Tour by Counsels and Family: ITAT [Read Order]")
Service Tax due but not actually Collected from Customers eligible for Income Tax Deduction: Bombay HC [Read Judgment]
A two-judge bench of the Bombay High Court has held that the Service Tax due but not actually collected from customers and not remitted to the Central Government cannot be disallowed under Section 43B...
![Service Tax due but not actually Collected from Customers eligible for Income Tax Deduction: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/09/Service-Tax-Bombay-High-Court-Taxscan.jpg "Service Tax due but not actually Collected from Customers eligible for Income Tax Deduction: Bombay HC [Read Judgment]")
Income derived from Toddy Tapping is Agricultural Produce, Subject to Tax Deduction: Kerala HC [Read Judgment]
The Kerala High Court in the decision of M/S. Kuthuparamba Range v. The Commissioner of Income Tax held that income derived from tapping and vending of toddy shall be categorized as agricultural...
![Income derived from Toddy Tapping is Agricultural Produce, Subject to Tax Deduction: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/07/Toddy-Tapping-Taxscan.jpg "Income derived from Toddy Tapping is Agricultural Produce, Subject to Tax Deduction: Kerala HC [Read Judgment]")
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 withdrawals invested in Villas and Bank under section...
![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]")