![Reduction of Tax Liability by claiming Wrong Deduction can’t amount to Concealment of Income or furnishing inaccurate particulars: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/Reduction-of-tax-liability-claiming-wrong-deduction-concealment-of-income-furnishing-inaccurate-particulars-Bombay-High-Court-Taxscan.jpeg "Reduction of Tax Liability by claiming Wrong Deduction can’t amount to Concealment of Income or furnishing inaccurate particulars: Bombay HC [Read Order]")
Reduction of Tax Liability by claiming Wrong Deduction can’t amount to Concealment of Income or furnishing inaccurate particulars: Bombay HC [Read Order]
The Bombay High Court held that the reduction of tax liability by claiming wrong deduction cannot amount to concealment of income or furnishing...
![Income Tax Deduction allowable on Expenses Incurred in Oversea Workshops for Doctors as it cant be treated as Gift, Freebies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/Income-Tax-Deduction-ITAT-Taxscan.jpg "Income Tax Deduction allowable on Expenses Incurred in Oversea Workshops for Doctors as it cant be treated as Gift, Freebies: ITAT [Read Order]")
![Conversion of Limestone and Marble into Lime and Limedust constitute Activity of Manufacturing or Production, entitled for Deduction: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/08/limestone-marble-Madras-High-Court-taxscan.jpg "Conversion of Limestone and Marble into Lime and Limedust constitute Activity of Manufacturing or Production, entitled for Deduction: Madras HC [Read Judgment]")
![ITAT allows Income Tax Deduction on Profits and Gains of Certain Undertaking [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/08/ITAT-Deduction-Profits-Gains-Taxscan.jpg "ITAT allows Income Tax Deduction on Profits and Gains of Certain Undertaking [Read Order]")
Income Tax Deduction not claimed in Original Assessment Proceedings can’t be claimed during Re-assessment: Karnataka High Court [Read Judgment]
The Karnataka High Court held that the Deduction not claimed in original assessment proceedings can not be claimed during re-assessment. The appellant, GMR Infrastructure Ltd. is a Company...
![Income Tax Deduction not claimed in Original Assessment Proceedings can’t be claimed during Re-assessment: Karnataka High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/07/Deduction-assessment-proceedings-re-assessment-Karnataka-High-Court-Taxscan.jpg "Income Tax Deduction not claimed in Original Assessment Proceedings can’t be claimed during Re-assessment: Karnataka High Court [Read Judgment]")
Income Tax Deduction not allowable to Professional and Consultancy Charges paid for Acquisition of Companies: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the income tax deduction cannot be allowed to professional and consultancy charges paid for the acquisition of the Companies by...
![Income Tax Deduction not allowable to Professional and Consultancy Charges paid for Acquisition of Companies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Income-Tax-Deduction-Professional-Charges-Consultancy-Charges-Acquisition-of-Companies-ITAT-Taxscan.jpg "Income Tax Deduction not allowable to Professional and Consultancy Charges paid for Acquisition of Companies: ITAT [Read Order]")
Income Tax Deduction benefit for Developers can’t be denied merely because of Delegation of some formalities to another Entity: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has recently held that the income tax deduction shall not be denied to the assessee, a cooperative society of Sahara India group and is engaged...
![Income Tax Deduction benefit for Developers can’t be denied merely because of Delegation of some formalities to another Entity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Income-Tax-Deduction-Benefit-Taxscan.jpg "Income Tax Deduction benefit for Developers can’t be denied merely because of Delegation of some formalities to another Entity: ITAT [Read Order]")
Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed merely for the reason that the...
![Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Wrong-Claim-for-Deduction-Penalty-ITAT-Taxscan.jpeg "Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]")
Relief to Tech Mahindra: ITAT directs AO to allow Income Tax Deduction on Foreign Exchange Gain [Read Order]
In a major relief to Tech Mahindra, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench directed the Assessing Officer to allow deduction on foreign exchange gain. The assessee, Tech Mahindra...
![Relief to Tech Mahindra: ITAT directs AO to allow Income Tax Deduction on Foreign Exchange Gain [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Tech-Mahindra-ITAT-AO-deduction-on-foreign-exchange-gain-Taxscan.jpeg "Relief to Tech Mahindra: ITAT directs AO to allow Income Tax Deduction on Foreign Exchange Gain [Read Order]")
![Income Tax Deduction allowable on Sum Received as ‘On-Money’ on Flat Bookings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/On-Money-flat-bookings-ITAT-Taxscan.jpg "Income Tax Deduction allowable on Sum Received as ‘On-Money’ on Flat Bookings: ITAT [Read Order]")
Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while remitting the matter back to the Assessing Officer (AO) ruled that the Karnataka Judicial Officers Credit Co-operative Society entitled...
![Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Karnataka-Judicial-Officers-Credit-Co-operative-Society-Income-Tax-Deduction-proportionate-cost-ITAT-AO-Taxscan.jpg "Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]")