Right to Run Telecom Business not Continue even if Network Operator failed to pay Annual Licence fee based on AGR under Telegraph Act: SC [Read Order]
The Supreme Court in its recent judgement has held that the right to run a telecom business not continue even if the network operator fails to pay...
![Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Contribution-Towards-fund-Business-Expenditure-Allowable-Income-Tax-Act-Unapproved-Income-Tax-Department-ITAT-Allows-Gratuity-Premium-Towards-LIC-taxscan.jpg "Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]")
![ITAT allows Cleartrip’s Claim towards Advertisement and Sales Promotion Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-allows-Cleartrips-Claim-towards-Advertisement-and-Sales-Promotion-Expenditure-TAXSCAN.jpg "ITAT allows Cleartrip’s Claim towards Advertisement and Sales Promotion Expenditure [Read Order]")
![Interest paid towards late Payment of TDS is not Compensatory in Nature: ITAT confirms disallowance u/s 37(1) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-paid-late-Payment-TDS-is-not-Compensatory-ITAT-confirms-disallowance-Income-Tax-Act-TAXSCAN.jpg "Interest paid towards late Payment of TDS is not Compensatory in Nature: ITAT confirms disallowance u/s 37(1) of Income Tax Act [Read Order]")
![Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fee-paid-to-holding-company-dvisory-service-during-course-of-business-deduction-Income-Tax-Act-ITAT-upholds-DRP-decision-taxscan.jpg "Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]")
Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that guarantee fees paid to the holding company for loan advanced by assessee company to third party is business expediency. Therefore the...
![Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Guarantee-fee-paid-holding-company-for-loan-advanced-by-assessee-company-business-expediency-ITAT-deduction-Income-Tax-Act-taxscan.jpg "Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]")
Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenditure incurred to avoid adverse effect on reputation and cost of litigation was a valid business exigency deductible...
![Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Expenditure-Incurred-Reputation-and-Cost-of-Litigation-Cost-of-Litigation-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
Payment made to YES Bank for Corporate Guarantee of Joint Venture Company is Business Expenditure: ITAT allows Deduction u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that payment made to Yes bank for corporate guarantee of joint venture company is business expenditure .Therefore the bench allowed the...
![Payment made to YES Bank for Corporate Guarantee of Joint Venture Company is Business Expenditure: ITAT allows Deduction u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Payment-YES-bank-Payment-made-to-YES-bank-for-corporate-guarantee-corporate-guarantee-joint-venture-company-ITAT-taxscan.jpg "Payment made to YES Bank for Corporate Guarantee of Joint Venture Company is Business Expenditure: ITAT allows Deduction u/s 37 of Income Tax Act [Read Order]")
Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that Authorities have failed to appreciate that the amount was in fact not an advance but was received mistakenly and which under a Court...
![Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Principal-Amount-Received-Advance-Principal-Amount-Expenditure-Income-Tax-act-Interest-ITAT-taxscan.jpg "Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]")
Revenue Expenditure incurred for Scientific Research allowable as deduction u/s 37 of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore bench held that revenue expenditure incurred for the scientific research is allowed as deduction under Section 37 of the Income Tax Act, 1961.The...
![Revenue Expenditure incurred for Scientific Research allowable as deduction u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Revenue-Revenue-Expenditure-Revenue-Expenditure-incurred-for-Scientific-Research-taxscan.jpg "Revenue Expenditure incurred for Scientific Research allowable as deduction u/s 37 of Income Tax Act: ITAT [Read Order]")
Interest Paid towards Excess Claim of Refund of Duty Drawback is not Penalty or Fine: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench held that interest paid towards excess claim of the refund of duty drawback is not penalty or fine. Assessee, Mahalasa Exports filed its...
![Interest Paid towards Excess Claim of Refund of Duty Drawback is not Penalty or Fine: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Paid-towards-Excess-Claim-of-Refund-Claim-of-Refund-of-Duty-Penalty-or-Fine-Excess-Claim-of-Refund-of-Duty-ITAT-Taxscan.jpg "Interest Paid towards Excess Claim of Refund of Duty Drawback is not Penalty or Fine: ITAT [Read Order]")
Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that business service charges paid to associate concern for providing Human Resource (HR) related services should not be...
![Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Business-Service-Charges-Associate-Concern-HR-services-disallow-ITAT-taxscan.jpg "Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]")