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Income Tax Deduction

ITAT upholds Order denying Income Tax Deduction of sum paid to Real Estate Broker for want of Proof of Payment [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Income Tax deduction cannot be allowed to the payment of brokerage at the time...

Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable...

CBDT allows Income Tax Deduction to Patanjali Research Foundation Trust [Read Notification]

Know about Lesser-Known Income Tax Deduction you can claim while filing Income Tax Return

Reduction of Tax Liability by claiming Wrong Deduction can’t amount to Concealment of Income or...

Income Tax Deduction allowable on Expenses Incurred in Oversea Workshops for Doctors as it can't be treated as Gift, Freebies: ITAT [Read Order]

In a major relief to Pharma Firm, M/s Evolutis India Private Ltd, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the Income Tax Deduction is allowable on expenses incurred in...

Conversion of Limestone and Marble into Lime and Limedust constitute Activity of Manufacturing or Production, entitled for Deduction: Madras HC [Read Judgment]

The Madras High Court held that conversion of limestone and marble into lime and limedust constitute the activity of manufacturing or production, entitled for deduction. The assessee, M/s. Jannani...

Kerala HC allows 50% Income Tax Deduction on gross Total Income as quantified Deduction under Sec 80HHB [Read Order]

The Kerala High Court allowed the 50% Deduction on gross total income as a quantified deduction under Section 80HHB of the Income Tax Act. The Assessing Officer and the Commissioner of Income Tax...

Kerala HC - Deduction - quantified deduction- Section 80HHB - taxscan

ITAT allows Income Tax Deduction on Profits and Gains of Certain Undertaking [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) allowed the deduction in respect of Profits and Gains of Certain Undertaking. The assessee is engaged in the business of manufacture and...

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 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 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...

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