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Relief to SBI: ITAT allows Income Tax Deduction on Bad and Doubtful Debts [Read Order]

Relief to SBI: ITAT allows Income Tax Deduction on Bad and Doubtful Debts [Read Order]

Kalyani B. Nair
Additional Income offered as part of Business Income, entitled to Income Tax Deduction u/s 40(b)(v): ITAT [Read Order]

Additional Income offered as part of Business Income, entitled to Income Tax Deduction u/s 40(b)(v):...

Kalyani B. Nair
Relief to Birla Corporation: ITAT allows Income Tax Deduction u/s 80IA for Thermal Power Plants [Read Order]

Relief to Birla Corporation: ITAT allows Income Tax Deduction u/s 80IA for Thermal Power Plants...

Kalyani B. Nair
Expenses towards Development of Abandoned Software Eligible for Income Tax Deduction: Bombay HC [Read Order]

Expenses towards Development of Abandoned Software Eligible for Income Tax Deduction: Bombay HC...

Taxscan Team

ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench allowed deduction of expenditure on goods carriages taken on hire. The appeal has been preferred by Shakir Ahmad, the assessee. The...

ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]
Taxscan Team

Manufacturer of ‘Polyurethane Foam’ Used for Making Car Seats Eligible for Income Tax Deduction u/s 80-IB: Supreme Court

A two-judge bench of the Supreme Court, on Thursday held that a manufacturer of ‘polyurethane foam’ used for manufacturing of car seats would be eligible for income tax deduction under section 80-IB...

Manufacturer of ‘Polyurethane Foam’ Used for Making Car Seats Eligible for Income Tax Deduction u/s 80-IB: Supreme Court
Taxscan Team

Sale Proceeds of Car Parking Spaces being an Integral Part of Housing Project eligible for Income Tax Deduction: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the sales proceeds of car parking spaces being an integral part of the housing project shall be eligible for income tax...

Sale Proceeds of Car Parking Spaces being an Integral Part of Housing Project eligible for Income Tax Deduction: ITAT [Read Order]
Taxscan Team

Re-assessment based on error committed by AO not permissible when Income Tax deduction allowed after verification: Delhi HC [Read Order]

The Delhi High Court has held that re-assessment based on an error committed by the Assessing Officer( AO) is not permissible when Income Tax deduction is allowed after verification. Deepak...

Re-assessment based on error committed by AO not permissible when Income Tax deduction allowed after verification: Delhi HC [Read Order]
Taxscan Team

Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT )has held that expenses incurred for business are allowable as a deduction until the actual liquidation of firm. ...

Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]
Taxscan Team

Provision for Liquidated Damages is an ascertained liability, allowable as Income Tax Deduction: ITAT [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT )has held that the provision for liquidated damages is an ascertained liability and is allowable as a deduction from Income. SKF...

Provision for Liquidated Damages is an ascertained liability, allowable as Income Tax Deduction: ITAT [Read Order]
Taxscan Team

Gratuity Entitled for Income Tax Deduction u/s 36 (1)(va): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently in an appeal filed before it, held that gratuity is entitled for deduction under section 36(1) (va) of the Income tax Act. The...

Gratuity Entitled for Income Tax Deduction u/s 36 (1)(va): ITAT [Read Order]
Taxscan Team

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