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S. 54B of Income Tax Act providing Income Tax Deduction is a Beneficial Provision, Shall be Interpreted Strictly: ITAT [Read Order]

S. 54B of Income Tax Act providing Income Tax Deduction is a Beneficial Provision, Shall be...

Aparna. M
Repayment of Loan in Cash in excess of Rs.20,000: ITAT upholds Penalty u/s 271E of Income Tax Act [Read Order]

Repayment of Loan in Cash in excess of Rs.20,000: ITAT upholds Penalty u/s 271E of Income Tax Act...

Fathima Karama A.M
Employee’s contribution towards PF has to be Deposited before due date mentioned in Employee’s Provident Funds and Miscellaneous Provisions Act: ITAT [Read Order]

Employee’s contribution towards PF has to be Deposited before due date mentioned in Employee’s...

Yogitha S. Yogesh
Right to Collect Toll falls within Definition of Commercial Right or ‘Intangible Asset’, Eligible for Depreciation: ITAT [Read Order]

Right to Collect Toll falls within Definition of Commercial Right or ‘Intangible Asset’, Eligible...

Taxscan Team

Referral Fees to Doctors and Nursing Homes Violative of Professional Ethics, Medical Diagnostics Company cannot Claim Deduction: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the referral fee paid to the doctors and nursing home would not be allowable as deduction under section 37 of the Income Tax...

Referral Fees to Doctors and Nursing Homes Violative of Professional Ethics, Medical Diagnostics Company cannot Claim Deduction: ITAT [Read Order]
Taxscan Team

Capital Gain Exemption not allowable to House purchased in Wife’s Name: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 shall not be allowable to a new house purchased in the name...

Capital Gain Exemption not allowable to House purchased in Wife’s Name: ITAT [Read Order]
Taxscan Team

Assessee entitled to claim 15% Depreciation under Block of Assets ‘Plant and Machinery’: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench ruled that the Assessee was entitled to charge depreciation at the rate of 15% under the block of assets “plant and machinery”. The...

Assessee entitled to claim 15% Depreciation under Block of Assets ‘Plant and Machinery’: ITAT [Read Order]
Taxscan Team

Each and Every disallowance/addition made in Quantum does not ipso facto attract Penalty provision: ITAT deletes Penalty [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench while deleting the penalty held that quantum and penalty are parallel proceedings wherein each and every disallowance/addition made in the...

Each and Every disallowance/addition made in Quantum does not ipso facto attract Penalty provision: ITAT deletes Penalty [Read Order]
Taxscan Team

ITAT deletes addition on account of Miscellaneous Expenditure [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench deleted the addition on account of miscellaneous expenditure. The Revenue’s sole substantive ground pleaded in the instant appeal seeks to...

ITAT deletes addition on account of Miscellaneous Expenditure [Read Order]
Taxscan Team

Commissioner cannot invoke Revisional Jurisdiction to cancel Assessment: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench ruled that the Commissioner cannot invoke Revisional Jurisdiction to cancel Assessment. The assessee, Subbaraya Annamalai Siva Kumar paid...

Commissioner cannot invoke Revisional Jurisdiction to cancel Assessment: ITAT [Read Order]
Taxscan Team

No TDS applicable on Surrogacy payments: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench ruled that no TDS applicable on Surrogacy payments. The assessee company, Kiran Infertility Central Private Limited runs infertility...

No TDS applicable on Surrogacy payments: ITAT [Read Order]
Taxscan Team

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