Land not a Capital Asset but a “Work-in-Progress” for Real Estate Company, Expenses to be treated as Revenue Expenditure: ITAT
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that Land is not a Capital Asset but a 'Work-in-Progress' for a Real Estate...
![Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Legal-Professional-charges-incurred-towards-business-to-be-treated-Revenue-Expenditure-ITAT-RAXSCAN.jpg "Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]")
![Payment of Education cess cannot be considered as an expenditure u/s 37 and 40(a)(ii) of Income Tax Act : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Payment-of-Education-cess-expenditure-Income-Tax-Act-ITAT-Education-cess-Payment-taxscan.jpg "Payment of Education cess cannot be considered as an expenditure u/s 37 and 40(a)(ii) of Income Tax Act : ITAT [Read Order]")
![Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Unverified-Excessive-Operating-Expenses-Operating-Expenses-Income-Tax-Act-ITAT-Disallowance-ITAT-Reduces-Disallowance-Income-Tax-taxscan.jpg "Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]")
![Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Relief-to-Finesse-International-Business-Promotion-Expenses-for-Improving-Visibility-of-Brand-Should-Not-Be-Treated-Personal-rules-ITAT-TAXSCAN.jpg "Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]")
![Expenditure towards ESOP Eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Expenditure-ESOP-Income-Tax-Income-Tax-Act-ITAT-taxscan.jpg "Expenditure towards ESOP Eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]")
‘Non Saleable Area’ in Real Estate Projects not amounts to Suppression of Closing Stock, Addition not permissible: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal(ITAT) has held that a ‘Non-saleable area’ in real estate projects does not amount to suppression of closing stock and addition is not permissible....
![‘Non Saleable Area’ in Real Estate Projects not amounts to Suppression of Closing Stock, Addition not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Addition-Non-Saleable-Area-Real-Estate-Projects-Stock-Suppression-Closing-Stock-taxscan.jpg "‘Non Saleable Area’ in Real Estate Projects not amounts to Suppression of Closing Stock, Addition not permissible: ITAT [Read Order]")
Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), New Delhi Bench held that salary paid by head office to expatriate employees working in Indian branches, allowable as deduction, thereby granting relief to...
![Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/MUFG-Bank-ITAT-Salary-paid-expatriate-Employees-Indian-branches-Deduction-taxscan.jpg "Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]")
ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]
ESOP expenses are not allowable when the shares/ ESOP are granted by the Parent company the Delhi Bench of, the Income Tax Appellate Tribunal (ITAT) held that can’t allow without factual verification...
![ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ESOP-Expenses-Shares-ESOP-Parent-Company-ITAT-taxscan.jpg "ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]")
Amortization of Expenses u/s 35 D to be Allowed Only on Satisfying the Prescribed Conditions: ITAT [Read Order]
The Income Tax Appellate Tribunal, Bench “A”, Mumbai, has, recently while allowing an appeal filed by the Revenue, held that amortization of expenses under section 35 D can be allowed only on...
![Amortization of Expenses u/s 35 D to be Allowed Only on Satisfying the Prescribed Conditions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Amortization-Of-Expenses-Conditions-ITAT-TAXSCAN.jpg "Amortization of Expenses u/s 35 D to be Allowed Only on Satisfying the Prescribed Conditions: ITAT [Read Order]")
![Interest Paid on Delayed TDS Payment is allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Paid-TDS-Payment-Deduction-ITAT-TAXSCAN.jpeg "Interest Paid on Delayed TDS Payment is allowable as Deduction: ITAT [Read Order]")
![Discount on ESOP Amounts to Expense, Income Tax Deduction allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Discount-ESOP-expense-Deduction-ITAT-taxscan.jpg "Discount on ESOP Amounts to Expense, Income Tax Deduction allowable: ITAT [Read Order]")