ITAT Bangalore
Explore the latest ITAT Bangalore judgments, orders, and appellate decisions on direct tax matters from the Bangalore bench of the Income Tax Appellate Tribunal
![CUP is the Most Appropriate Method for International Transactions for Computation of PLI: ITAT grants Relief to Lenovo India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/CUP-International-Transactions-Appropriate-Method-PLI-ITAT-Lenovo-India-Taxscan.jpg "CUP is the Most Appropriate Method for International Transactions for Computation of PLI: ITAT grants Relief to Lenovo India [Read Order]")
CUP is the Most Appropriate Method for International Transactions for Computation of PLI: ITAT grants Relief to Lenovo India [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has recently while granting relief to Lenovo India held that Comparable...
![Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-Expenditure-Disallowance-ITAT-Relief-of-Adani-Wilmer-Ltd-Adani-Wilmer-Ltd-Income-Tax-Act-Income-Tax-taxscan.jpg "Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]")
![Provisions of S.44 AB of the Act are not applicable if Turnover of Assessee less than Prescribed Limit: ITAT delete Penalty u/S 271B [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Turnover-of-Assessee-ITAT-Penalty-taxscan.jpg "Provisions of S.44 AB of the Act are not applicable if Turnover of Assessee less than Prescribed Limit: ITAT delete Penalty u/S 271B [Read Order]")
![No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-No-Exemption-Preceding-Year-Purchase-of-Fixed-Assets-Fixed-Assets-ITAT-addition-Income-Tax-taxscan.jpg "No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]")
![No Tax Shall Be Charged on entire receipts If Income below the Threshold Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Tax-receipts-Income-ITAT-taxscan.jpg "No Tax Shall Be Charged on entire receipts If Income below the Threshold Limit: ITAT [Read Order]")
ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has recently in an appeal filed before it, allowed deduction of expenditure by Flipkart India towards ESOP u/s 37 of income tax act. The...
![ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Flipkart-India-ESOP-Income-Tax-Act-TAXSCAN.jpg "ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]")
Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]
The Bangalore bench of income tax appellate tribunal has recently held that a firm is not taxable for interest on borrowed capital paid to partners when the same is already taxed from partners under...
![Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Taxable-Interest-Capital-paid-Taxed-ITAT-TAXSCAN.jpg "Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]")
“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) while deleting the penalty under section 271D of Income Tax Act 1961 held that reasonable cause under section 269SS of Income Tax Act 1961...
![“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Reasonable-Cause-Income-Tax-Act-Income-Tax-Tax-Business-ITAT-Penalty-Taxscan.jpg "“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]")
![NFAC Bound by Decisions of Jurisdictional High Court where AO is situated: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/NFAC-NFAC-Bound-Jurisdictional-High-Court-Decisions-of-Jurisdictional-High-Court-AO-Assessing-Officer-Income-Tax-Income-Tax-Act-taxscan.jpg "NFAC Bound by Decisions of Jurisdictional High Court where AO is situated: ITAT [Read Order]")
Profit Margin Forgone by Flipkart India while Selling Goods cannot be treated as “Expenditure in Creating Intangible or Goodwill”: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the profit margin forgone by Flipkart India while selling goods could not be treated as expenditure in creating intangible or...
![Profit Margin Forgone by Flipkart India while Selling Goods cannot be treated as “Expenditure in Creating Intangible or Goodwill”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Profit-Flipkart-India-Flipkart-Selling-Goods-Goodwill-ITAT-Income-Tax-Tax-Taxscan-1.jpg "Profit Margin Forgone by Flipkart India while Selling Goods cannot be treated as “Expenditure in Creating Intangible or Goodwill”: ITAT [Read Order]")
Expenditure incurred by Flipkart towards ESOP eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the Expenditure incurred by Flipkart towards Employee Stock Ownership Plan ( ESOP ) eligible for deduction under...
![Expenditure incurred by Flipkart towards ESOP eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Flipkart-ESOP-Deduction-Income-Tax-Act-Income-Tax-Tax-ITAT-Expenditure-incurred-taxscan.jpg "Expenditure incurred by Flipkart towards ESOP eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]")
![Software Insurance Charges Excludable from Export Turnover u/s 10AA of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Software-Insurance-Charges-Export-Turnover-Income-Tax-Act-ITAT-TAXSCAN.jpg "Software Insurance Charges Excludable from Export Turnover u/s 10AA of Income Tax Act: ITAT [Read Order]")