![Software Development Expenditure is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Software-Development-Expenditure-Revenue-ITAT-taxscan.jpg "Software Development Expenditure is Revenue in Nature: ITAT [Read Order]")
Software Development Expenditure is Revenue in Nature: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Software Development Expenditure is revenue in nature. The solitary issue...
![Annual Technology Licence Fee is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Annual-Technology-Licence-Fee-Revenue-ITAT-taxscan.jpg "Annual Technology Licence Fee is Revenue in Nature: ITAT [Read Order]")
![GST Assessment by Investigating Officer who Carried Out Search: Delhi HC quashes Order, Directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/GST-Assessment-Investigating-Officer-Delhi-HC-Re-Adjudication-TAXSCAN.jpg "GST Assessment by Investigating Officer who Carried Out Search: Delhi HC quashes Order, Directs Re-Adjudication [Read Order]")
![ÂÂRoyalty Expenditure is Revenue in Nature, Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Royalty-Expenditure-Revenue-Taxable-ITAT-TAXSCAN.jpg "ÂÂRoyalty Expenditure is Revenue in Nature, Taxable: ITAT [Read Order]")
Revenue can't be restrained from collecting GST when Adverse Order sustains against ONGC: Madras HC [Read Order]
In a significant ruling in the case of ONGC, the Madras High Court (HC) has held that the revenue can’t be restrained from collecting tax under GST when an adverse order to ONGC sustain. The...
![Revenue cant be restrained from collecting GST when Adverse Order sustains against ONGC: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Revenue-GST-ONGC-HC-taxscan.jpg "Revenue cant be restrained from collecting GST when Adverse Order sustains against ONGC: Madras HC [Read Order]")
Penalty u/s 271C based on Mere Assumption without Supporting Evidence is Invalid: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that penalty u/s 271C of the Income Tax Act,1961 based on mere assumption without supporting evidence is not sustainable hence it is...
![Penalty u/s 271C based on Mere Assumption without Supporting Evidence is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Penalty-assumption-supporting-evidence-ITAT-taxscan.jpg "Penalty u/s 271C based on Mere Assumption without Supporting Evidence is Invalid: ITAT [Read Order]")
Amendment to Sec 54F (1) applicable from 1.4.2015 onwards: ITAT grants Capital Gain Deduction for purchase of Multiple Residential Units [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench has held that amendment to section 54F (1) applicable from 1.4.2015 onwards and grants capital gain deduction for the purchase of multiple...
![Amendment to Sec 54F (1) applicable from 1.4.2015 onwards: ITAT grants Capital Gain Deduction for purchase of Multiple Residential Units [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/ITAT-Capital-Gain-Deduction-purchase-Multiple-Residential-Units-taxscan.jpg "Amendment to Sec 54F (1) applicable from 1.4.2015 onwards: ITAT grants Capital Gain Deduction for purchase of Multiple Residential Units [Read Order]")
Exemption available to Supply for Specific Govt. Project: CESTAT allows Cenvat Credit on Capital Goods [Read Order]
The Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) New Delhi bench has held that exemption available to supply for a specific government project and allows Cenvat credit on Capital...
![Exemption available to Supply for Specific Govt. Project: CESTAT allows Cenvat Credit on Capital Goods [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Supply-Govt.-Project-CESTAT-Cenvat-credit-Capital-Goods-taxscan.jpg "Exemption available to Supply for Specific Govt. Project: CESTAT allows Cenvat Credit on Capital Goods [Read Order]")
Relief to PNB Housing Finance: ITAT confirms order of CIT in Computation of Rebate u/s 36(1)(viii) [Read Order]
Income Tax Appellate Tribunal (ITAT), New Delhi bench consisting of Anil Chaturvedi, Accountant Member and Narender Kumar Choudhary, Judicial Member granted relief to Punjab National Bank Housing...
![Relief to PNB Housing Finance: ITAT confirms order of CIT in Computation of Rebate u/s 36(1)(viii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/PNB-Housing-Finance-Ltd-ITAT-CIT-computation-of-rebate-Taxscan.jpg "Relief to PNB Housing Finance: ITAT confirms order of CIT in Computation of Rebate u/s 36(1)(viii) [Read Order]")
Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that development fees directly taken to corpus account and invested in a fixed asset can be allowed as capital receipt. The...
![Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Development-Fee-Corpus-Account-Fixed-Asset-Capital-Receipt-ITAT-Taxscan.jpg "Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]")
Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune has ruled that, Consideration paid for the acquisition of shares does not come under revenue deduction. The appellant, M/s. Adler Mediequip Pvt. Ltd...
![Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/acquisition-of-shares-revenue-deduction-ITAT-taxscan.jpeg "Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]")