![Interest Paid is allowable u/s 36(1)(iii) of Income Tax Act When Funds are Borrowed for Construction Project: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-paid-Interest-Income-Tax-Act-Income-Tax-Tax-Funds-borrowed-Funds-Construction-Project-Construction-ITAT-taxscan.jpg "Interest Paid is allowable u/s 36(1)(iii) of Income Tax Act When Funds are Borrowed for Construction Project: ITAT [Read Order]")
Interest Paid is allowable u/s 36(1)(iii) of Income Tax Act When Funds are Borrowed for Construction Project: ITAT [Read Order]
The Income Tax Appellate Tribunal( ITAT ), Mumbai Bench consisting of Prashant Maharshi, Accountant Member and Sandeep Singh Karhail, Judicial Member...
![Income derived from Training Fee and related Course Material, not entitled to Deduction u/s.10B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/training-fee-Income-course-material-deduction-ITAT-Income-Tax-taxscan.jpg "Income derived from Training Fee and related Course Material, not entitled to Deduction u/s.10B: ITAT [Read Order]")
![Revisional Jurisdiction cant invoke merely based on a Clerical Mistake: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Revisional-Jurisdiction-ITAT-Clerical-Mistake-taxscan.jpg "Revisional Jurisdiction cant invoke merely based on a Clerical Mistake: ITAT [Read Order]")
![Forfeited Commission Expenses cannot be disallowed If TDS is Paid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Forfeited-Commission-Expenses-Forfeited-Commission-Commission-Expenses-TDS-ITAT-taxscan.jpg "Forfeited Commission Expenses cannot be disallowed If TDS is Paid: ITAT [Read Order]")
![Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Notional-Income-Income-Interest-Free-Loans-Interest-Loans-taxable-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]")
![Prior approval of CCIT/DGIT for Scrutiny Assessment is Mandatory: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CCIT-DGIT-approval-of-DGIT-approval-of-CCIT-for-Scrutiny-Assessment-Orissa-HC-taxscan.jpg "Prior approval of CCIT/DGIT for Scrutiny Assessment is Mandatory: Orissa HC [Read Order]")
AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]
In as significant case of Zydus Healthcare, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that AO is bound to refer to TPO for computation of domestic specified transactions....
![AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/TPO-Domestic-specified-Transactions-Zydus-Healthcare-taxscan.jpg "AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]")
Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), held that Hedging transactions to safeguard loss arising out of fluctuation in foreign currency are not speculative in nature. The...
![Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Hedging-Transactions-Safeguard-Loss-Fluctuation-in-Foreign-Currency-Foreign-Currency-Speculative-in-Nature-Income-Tax-ITAT-taxscan.jpg "Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]")
Cut of date in Certificate issued by DSIR has no relevance: ITAT confirms Deduction u/s 35(2AB) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), confirmed deduction under Section 35(2AB) of the Income Tax Act, 1961 on the ground that cut of date in certificate issued by Department...
![Cut of date in Certificate issued by DSIR has no relevance: ITAT confirms Deduction u/s 35(2AB) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/DSIR-ITAT-Deduction-Income-Tax-taxscan.jpg "Cut of date in Certificate issued by DSIR has no relevance: ITAT confirms Deduction u/s 35(2AB) [Read Order]")
Income Tax Exemption cannot be granted since Share Transactions found as Sham and Used as a Device to Make Undisclosed Income Accountable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench recently in an appeal held that income tax exemption cannot be granted since share transactions are found as sham and used as a device to make...
![Income Tax Exemption cannot be granted since Share Transactions found as Sham and Used as a Device to Make Undisclosed Income Accountable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Exemption-income-Share-Transactions-Undisclosed-Income-Income-tax-ITAT-taxscan.jpg "Income Tax Exemption cannot be granted since Share Transactions found as Sham and Used as a Device to Make Undisclosed Income Accountable: ITAT [Read Order]")
An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an Amalgamated company can claim depreciation on goodwill and there is no restriction under section 32(1)(5) of the...
![An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Amalgamated-Company-Depreciation-Goodwill-ITAT-taxscan.jpg "An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]")
Delhi HC directs NaFC to withdraw assessment orders without issuing draft notice under S. 144B [Read Order]
The Delhi High Court has directed the National Faceless Assessment Centre to  withdraw the assessment order without issuing draft notice under section 144B of the Income Tax Act, 1961 The...
![Delhi HC directs NaFC to withdraw assessment orders without issuing draft notice under S. 144B [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Delhi-HC-NaFC-assessment-orders-assessment-notice-taxscan.jpg "Delhi HC directs NaFC to withdraw assessment orders without issuing draft notice under S. 144B [Read Order]")