![Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Money-Payment-Money-Retiring-Partner-Capital-Expenditure-Expenditure-CITA-Order-ITAT-taxscan-1.jpg "Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]")
Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that the amount paid to the retiring partner in terms of settlement arrived at between...
![Monthly Rent paid by Company cannot be Allowed as Expenditure as Flat was Never Used for Business Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Monthly-Rent-paid-Rent-Monthly-Rent-Company-Expenditure-Business-Purpose-ITAT-Income-Tax-Income-Tax-Act-taxscan-.jpg "Monthly Rent paid by Company cannot be Allowed as Expenditure as Flat was Never Used for Business Purpose: ITAT [Read Order]")
![Co-operative Society Not Eligible to Claim 80P Deduction If Income Tax Return was not filed within Due Date: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Co-operative-Society-Income-Tax-Return-ITAT-TAXSCAN.jpg "Co-operative Society Not Eligible to Claim 80P Deduction If Income Tax Return was not filed within Due Date: ITAT [Read Order]")
![SOP Issued by CBDT shall be followed while Making Addition in respect of Cash Deposits During Demonetization: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/SOP-CBDT-Addition-Cash-Deposits-Demonetization-ITAT-Taxscan.jpg "SOP Issued by CBDT shall be followed while Making Addition in respect of Cash Deposits During Demonetization: ITAT [Read Order]")
![Education Cess including Secondary and Higher Secondary Education Cess is not allowable as a Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Education-Cess-Secondary-Education-Cess-Higher-Secondary-Education-Cess-Deduction-ITAT-taxscan.jpg "Education Cess including Secondary and Higher Secondary Education Cess is not allowable as a Deduction: ITAT [Read Order]")
ITAT quashes Revision Order of Pr CIT as prima facie evidence for claiming Exemption u/s 54B proved [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench consisting of Inturi Rama Rao, Accountant Member, and S S Viswanethra Ravi quashed the revision order of Principal Commissioner of Income Tax...
![ITAT quashes Revision Order of Pr CIT as prima facie evidence for claiming Exemption u/s 54B proved [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/ITAT-revision-order-PrCIT-evidence-taxscan.jpg "ITAT quashes Revision Order of Pr CIT as prima facie evidence for claiming Exemption u/s 54B proved [Read Order]")
Relief to Serum Institute of India, Corporate Guarantee cannot be treated on par with Bank Guarantees: ITAT upholds the order of CIT(A) [Read Order]
As a relief to the serum institute of India, the Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that corporate guarantees cannot be treated on par with Bank Guarantees and upheld...
![Relief to Serum Institute of India, Corporate Guarantee cannot be treated on par with Bank Guarantees: ITAT upholds the order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Serum-Institute-of-India-Corporate-Guarantee-Bank-Guarantees-ITAT-CITA-taxscan.jpg "Relief to Serum Institute of India, Corporate Guarantee cannot be treated on par with Bank Guarantees: ITAT upholds the order of CIT(A) [Read Order]")
Expenditure incurred on Foreign Travel by Director of Company to run Business allowable as Revenue Expenditure: ITAT grants Relief to Serum Institute of India [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to Serum Institute of India by allowing the expense incurred on foreign travel of the director and his wife of the...
![Expenditure incurred on Foreign Travel by Director of Company to run Business allowable as Revenue Expenditure: ITAT grants Relief to Serum Institute of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/foreign-travel-business-revenue-expenditure-ITAT-Serum-Institute-of-India-taxscan.jpg "Expenditure incurred on Foreign Travel by Director of Company to run Business allowable as Revenue Expenditure: ITAT grants Relief to Serum Institute of India [Read Order]")
![Penalty can be levied only on Charges for which Penalty proceedings were initiated: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Penalty-proceedings-ITAT-taxscan.jpeg "Penalty can be levied only on Charges for which Penalty proceedings were initiated: ITAT [Read Order]")
Capital Gain cannot be Taxed from Owner of Property When Sale Consideration is already Taxed from PoA Holder: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain in respect of consideration received from sale of property cannot be taxed from the owner of the property as...
![Capital Gain cannot be Taxed from Owner of Property When Sale Consideration is already Taxed from PoA Holder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Capital-Gain-Owner-Property-Sale-Consideration-PoA-Holder-ITAT-taxscan.jpeg "Capital Gain cannot be Taxed from Owner of Property When Sale Consideration is already Taxed from PoA Holder: ITAT [Read Order]")
Surcharge, Education Cess, and Additional Surcharges are eligible for MAT Credit u/s 115JAA: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that surcharge, education cess, and additional surcharges are eligible for minimum alternate tax (MAT) credit under section 115JAA. ...
![Surcharge, Education Cess, and Additional Surcharges are eligible for MAT Credit u/s 115JAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Surcharge-Education-Cess-Additional-Surcharges-MAT-Credit-ITAT-taxscan.jpg "Surcharge, Education Cess, and Additional Surcharges are eligible for MAT Credit u/s 115JAA: ITAT [Read Order]")
Subsidy granted by Govt. for encouraging Industries are Capital Receipts: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that subsidies granted by the government for encouraging industries are capital receipts and deletes addition. The assessee, M/s....
![Subsidy granted by Govt. for encouraging Industries are Capital Receipts: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Subsidy-Govt-Industries-Capital-Receipts-ITAT-taxscan.jpg "Subsidy granted by Govt. for encouraging Industries are Capital Receipts: ITAT deletes Addition [Read Order]")