![Income Tax Deduction u/s 80HHC Had to Be Given Without Reducing S. 80IB Deduction: Madras HC Follows SC Ruling [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050629-income-tax-deduction-income-tax-deduction-madras-hc-taxscan.webp "Income Tax Deduction u/s 80HHC Had to Be Given Without Reducing S. 80IB Deduction: Madras HC Follows SC Ruling [Read Order]")
Income Tax Deduction u/s 80HHC Had to Be Given Without Reducing S. 80IB Deduction: Madras HC Follows SC Ruling [Read Order]
The Madras High Court has reaffirmed that deduction under Section 80HHC of the Income Tax Act, 1961 must be granted without reducing the amount...
![Income Tax Deduction u/s 10AA Cannot Be Denied for Delay in Filing Form 56F: Madras HC Dismisses Revenues Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/250x150_2043113-madras-hc.webp "Income Tax Deduction u/s 10AA Cannot Be Denied for Delay in Filing Form 56F: Madras HC Dismisses Revenues Appeal [Read Order]")
Assessee Still Eligible for Section 54F Income Tax Deduction even when Sale Deed Executed after Two Years: ITAT [Read Order]
In a significant ruling, the Pune Bench of the Income Tax Appellate Tribunal (ITAT) has held that an assessee is still eligible for a deduction under Section 54F of the Income Tax Act, 1961, even if...
![Assessee Still Eligible for Section 54F Income Tax Deduction even when Sale Deed Executed after Two Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ITAT-Pune-Section-54F-Income-Tax-Deduction-TAXSCAN.jpg "Assessee Still Eligible for Section 54F Income Tax Deduction even when Sale Deed Executed after Two Years: ITAT [Read Order]")
Govt. Approval Not Mandatory for Enterprises Claiming S. 80IC Income Tax Deductions in Notified Special Zones: Delhi HC [Read Order]
In a recent judgment, the Delhi High Court ruled that enterprises claiming deductions under Section 80IC of the Income Tax Act are not required to obtain government approval if they operate in...
![Govt. Approval Not Mandatory for Enterprises Claiming S. 80IC Income Tax Deductions in Notified Special Zones: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Not-Mandatory-for-Enterprises-Claiming-Not-Mandatory-Enterprises-Claiming-section-80IC-Income-Tax-Deductions-Income-Tax-Deductions-Delhi-HC-taxscan.jpg "Govt. Approval Not Mandatory for Enterprises Claiming S. 80IC Income Tax Deductions in Notified Special Zones: Delhi HC [Read Order]")
Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]
The Supreme Court has recently held that broken period interest incurred on securities treated as stock-in-trade is in the nature of revenue expense and that Income Tax Deduction can be allowed on...
![Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Supreme-Court-Income-Tax-Deduction-stock-in-trade-Broken-Period-Interest-TAXSCAN.jpg "Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]")
ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Ahmedabad recently remanded a case involving a Section 80IA deduction claim by a company engaged in windmill power business amidst conflicting precedents...
![ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Deduction-Income-Tax-Deduction-Claim-Taxscan.jpg "ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]")
![ITAT directs AO to recompute Penalty on Incorrect Income Tax Deduction u/s 54EC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-AO-recompute-Penalty-Incorrect-Income-Tax-Deduction-taxscan.jpg "ITAT directs AO to recompute Penalty on Incorrect Income Tax Deduction u/s 54EC [Read Order]")
Land Sale Value to be Determined as on Date of Agreement for Income Tax Deduction u/s 50C: Karnataka HC [Read Order]
The Karnataka High Court rejected the appeal filed by revenue was not meritorious and held that the revenue has no discretion to adopt any date other than the date of agreement in question. In...
![Land Sale Value to be Determined as on Date of Agreement for Income Tax Deduction u/s 50C: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Deduction-Income-Tax-Deduction-Commission-Payments-Commission-Examination-Verification-Agreement-between-Payer-and-Dealers-Payer-and-Dealers-ITAT-Taxscan.jpg "Land Sale Value to be Determined as on Date of Agreement for Income Tax Deduction u/s 50C: Karnataka HC [Read Order]")
Compensation awarded under MV Act must compute after Deduction of Income Tax: Andhra Pradesh High Court [Read Order]
The Andhra Pradesh High Court held that compensation awarded under Motor Vehicle Act, 1988 computed after deduction of income tax. The court enhanced the amount of compensation once allowed and...
![Compensation awarded under MV Act must compute after Deduction of Income Tax: Andhra Pradesh High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Andhra-Pradesh-High-Court-Income-tax-income-tax-deduction-Motor-Vehicle-Act-Income-tax-deduction-in-compensation-Insurance-company-taxscan.jpg "Compensation awarded under MV Act must compute after Deduction of Income Tax: Andhra Pradesh High Court [Read Order]")