![Kerala High Court upholds IT Deduction to Future Expenses in respect of a Liability that accrued during the related Accounting Year [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/09/KVAT-Arrears-Kerala-High-Court-Taxscan.jpg "Kerala High Court upholds IT Deduction to Future Expenses in respect of a Liability that accrued during the related Accounting Year [Read Judgment]")
Kerala High Court upholds IT Deduction to Future Expenses in respect of a Liability that accrued during the related Accounting Year [Read Judgment]
A division bench of the Kerala High Court has held that an expenditure to be incurred in future in respect of a liability that accrued during the...
![CSR Expenses Deductible from Total Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/CSR-Corporate-Social-Responsibility-Taxscan.jpg "CSR Expenses Deductible from Total Income: ITAT [Read Order]")
![Amount kept in Impress Account can’t be treated as ‘Business Advance’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/09/Chartered-Accountant-ITAT-Taxscan.jpg "Amount kept in Impress Account can’t be treated as ‘Business Advance’: ITAT deletes Penalty [Read Order]")
![Deduction can’t be denied merely because assessee couldn’t furnish Project Completion Certificate: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Deduction-Taxscan.jpg "Deduction can’t be denied merely because assessee couldn’t furnish Project Completion Certificate: ITAT [Read Order]")
![Deduction for “Foreign project” available to Works in connection with Shut Down of Refinery: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Deduction for “Foreign project” available to Works in connection with Shut Down of Refinery: Madras HC [Read Judgment]")
IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) in DCIT v. M/s. Mercury Projects held that the amount paid to ROC for the enhancement of authorized share capital is not deductible from...
![IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Share-Capital-ITAT-Taxscan.jpg "IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]")
Amount Paid for Higher Education of Directors’ Son not Business Expenditure: Bombay HC denies IT Deduction to Company [Read Judgment]
A division bench of the Bombay High Court recently held that the expenses incurred by a Company towards sending the son of its director to the USA for higher studies cannot be deducted from the...
![Amount Paid for Higher Education of Directors’ Son not Business Expenditure: Bombay HC denies IT Deduction to Company [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/CBDT-Bombay-High-Court-Taxscan.jpg "Amount Paid for Higher Education of Directors’ Son not Business Expenditure: Bombay HC denies IT Deduction to Company [Read Judgment]")
ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata on June 6 allowed remuneration given to lady directors even though they are not involved in pure managerial or supervising work of Company. The...
![ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Managerial-Remuneration-Taxscan.jpg "ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]")
![Penalty paid to Stock Exchange is a regular Business Expenditure: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Business-Income-Taxscan.jpg "Penalty paid to Stock Exchange is a regular Business Expenditure: ITAT allows Deduction [Read Order]")
![Provisions of Warranty Expenses deductible on Estimate basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Warranty-Taxscan.jpg "Provisions of Warranty Expenses deductible on Estimate basis: ITAT [Read Order]")
A Contractor-Company who undertakes Maintenance Work not Eligible for IT Deduction u/s 80IA: Madras HC [Read Judgment]
The Madras High Court recently clarified a decade-long dispute regarding the applicability of deduction available under 80IA of the income tax act for contractor companies involved in electricity...
![A Contractor-Company who undertakes Maintenance Work not Eligible for IT Deduction u/s 80IA: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Operation-and-Maintenance.jpg "A Contractor-Company who undertakes Maintenance Work not Eligible for IT Deduction u/s 80IA: Madras HC [Read Judgment]")
S. 80HHC Deduction accidently allowed to manufacturer in absence of Certificate from Export House, can be rectified by resorting to Re-Assessment: Kerala HC [Read Judgment]
The Kerala High Court In the case of M/s Baby Marine Exports versus Assistant Commissioner of Income Tax wherein held that deduction u/s 80HHC accidently allowed to the manufacturer in the absence of...
![S. 80HHC Deduction accidently allowed to manufacturer in absence of Certificate from Export House, can be rectified by resorting to Re-Assessment: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/02/Re-Assessment.jpg "S. 80HHC Deduction accidently allowed to manufacturer in absence of Certificate from Export House, can be rectified by resorting to Re-Assessment: Kerala HC [Read Judgment]")