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Income Tax Deduction

Income Tax Deduction u/s 80IA(4) Available Without Certificate from Concerned Port: Bombay HC [Read Order]

Navasree A.M

Justice Kamal Khata and Justice Dhiraj Singh Thakur of Bombay High Court decided that Income Tax deduction under section 80IA(4) is available without...

Income Tax Deduction to Manufacturing Unit cannot be Disallowed Even If Part of Activities are done...

Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT...

Expenses towards Renovation of Business Showrooms 'Revenue' in Nature: ITAT allows Income Tax...

Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not...

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

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), deduction on bad and doubtful debts thereby granting relief to the State Bank of India (SBI). The assessee is a scheduled bank and has...

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

The Income Tax Appellate Tribunal ( ITAT ), Bangalore Bench held that Additional income offered as part of business income, entitled to deduction under Section 40(b)(v) of the Income Tax Act, 1961. ...

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

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), allowed deduction under Section 80IAof the Income Tax Act, 1961 for thermal power plants thereby granting relief to Birla Corporation. ...

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

A division bench of the Bombay High Court has held that the expenses incurred in respect of the development of an abandoned software would be eligible for income tax deduction as the same constitute...

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...

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...

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...

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