![Warrant Expenses deductible from Book Profit: ITAT grants relief to Lenovo [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/Lenovo-Warrantly-Expenses-Taxscan.jpg "Warrant Expenses deductible from Book Profit: ITAT grants relief to Lenovo [Read Order]")
Warrant Expenses deductible from Book Profit: ITAT grants relief to Lenovo [Read Order]
While granting relief to Lenovo, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the warrant expenses should be deducted...
![Provision for Gratuity can be Deducted while Computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/Gratuity-Deducted-Taxscan.jpg "Provision for Gratuity can be Deducted while Computing Book Profit: ITAT [Read Order]")
![Interest Received on FDRs/ICDs with Bank/NBFCs made out of Unutilized Funds which could not be used in development of Port Terminal is Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Capital-Receipt-Taxscan.jpg "Interest Received on FDRs/ICDs with Bank/NBFCs made out of Unutilized Funds which could not be used in development of Port Terminal is Capital Receipt: ITAT [Read Order]")
![Land cannot be treated as Stock in Trade if No Construction was carried on It: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Stock-in-Trade.jpg "Land cannot be treated as Stock in Trade if No Construction was carried on It: ITAT [Read Order]")
![Long-Term Employees Benefits Deductible while Computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/04/Employees-Benefits-Leave-Encashment-ITAT-Taxscan.jpg "Long-Term Employees Benefits Deductible while Computing Book Profit: ITAT [Read Order]")
Income being a Share in AOP or BOIs excludable while Computing Book Profit u/s 115JB: ITAT [Read Order]
The Jaipur bench of Income Tax Appellate Tribunal ( ITAT ) in Assistant Commissioner of Income Tax versus M/s Om Metal Infraproject Ltd, held that Income being a share in AOP or BOIs is to be excluded...
![Income being a Share in AOP or BOIs excludable while Computing Book Profit u/s 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Book-Profit-Taxscan.jpg "Income being a Share in AOP or BOIs excludable while Computing Book Profit u/s 115JB: ITAT [Read Order]")
![Compensation Received for Discontinuing Commodity Trading Business is Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/08/Compensation-Geojit-ITAT-Taxscan.jpg "Compensation Received for Discontinuing Commodity Trading Business is Taxable: ITAT [Read Order]")
Only Ascertained Liability and not Mere Provision, is eligible for Adjustment against Book Profit: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) in M/s. Southern Power vs. Dy. Commissioner of Income held that Only ascertained liability and not mere provision, is eligible for...
ITAT confirms Disallowance in respect of Payment to Services rendered by Paper Companies [Read Order]
In the case, Sun Steel Industries (P) Ltd vs Deputy Commissioner of Income Tax (DCIT), Kolkata bench of Income Tax Appellate Tribunal (ITAT) confirmed the disallowance made by the Assessing Officer on...
![ITAT confirms Disallowance in respect of Payment to Services rendered by Paper Companies [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Paper-Companies-Taxscan.jpg "ITAT confirms Disallowance in respect of Payment to Services rendered by Paper Companies [Read Order]")
Benefit of S. 115JB can’t be denied to Statutory Corporation merely because an Error in returns due to Mistake of Official: Patna HC [Read Judgment]
The Patna High Court has ruled that benefit of Section 115JB of the Income Tax Act cannot be denied to a Statutory Corporation merely because an error in the returns due to mistake of the official. ...
![Benefit of S. 115JB can’t be denied to Statutory Corporation merely because an Error in returns due to Mistake of Official: Patna HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Patna-High-Court-TaxScan.jpg "Benefit of S. 115JB can’t be denied to Statutory Corporation merely because an Error in returns due to Mistake of Official: Patna HC [Read Judgment]")
Govt relaxes MAT Provisions for Companies against whom an Application for Corporate Insolvency Resolution process is Admitted
The Central Government has relaxed Minimum Alternative Tax ( MAT ) provisions for Companies against whom an Application for Corporate Insolvency Resolution process is Admitted The existing provisions...
