![Provision for Gratuity for Retired Employees Deductible u/s 43B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Gratuity-Tax-Free-Taxscan.jpg "Provision for Gratuity for Retired Employees Deductible u/s 43B: ITAT [Read Order]")
Provision for Gratuity for Retired Employees Deductible u/s 43B: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cochin, has held that the provision for gratuity made for the benefit of the retired employees can’t be...
![Service Tax due but not actually Collected from Customers eligible for Income Tax Deduction: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/09/Service-Tax-Bombay-High-Court-Taxscan.jpg "Service Tax due but not actually Collected from Customers eligible for Income Tax Deduction: Bombay HC [Read Judgment]")
![Interest Paid to Private Bank can’t be disallowed u/s 43B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Interest-Taxscan-1.jpg "Interest Paid to Private Bank can’t be disallowed u/s 43B: ITAT [Read Order]")
![No Deduction allowable If Employer omitted to remit Employees’ contribution to EPF within Statutory Due Date: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/07/EPF-Kerala-High-Court-Taxscan.jpg "No Deduction allowable If Employer omitted to remit Employees’ contribution to EPF within Statutory Due Date: Kerala HC [Read Judgment]")
Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]
The division bench of the Delhi High Court, while granting relief to M/s MVS Engineering Ltd, held that the deduction under section 43B of the Income Tax Act can be allowed even if the Employees...
![Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]")
Amount deposited as Security during the Customs Proceedings is Allowable as Expenditure: Delhi HC [Read Judgment]
In Principal CIT v. Praveen Saxena, the Delhi High Court dismissed an appeal preferred by the Revenue contending that the amount deposited by the assessee as security during the customs proceedings is...
Contribution to Provident Fund under the ESI Act paid after Due Date is allowable as Deduction: Rajasthan HC [Read Judgment]
In the case M/S Central Office Mewar Palace Organization Pvt. Ltd., City Palace, Udaipur V. The Joint Commissioner of Income-Tax, Udaipur, the division bench of the Rajasthan High Court held that the...
![Contribution to Provident Fund under the ESI Act paid after Due Date is allowable as Deduction: Rajasthan HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/RajasthanHighCourt-Taxscan.jpg "Contribution to Provident Fund under the ESI Act paid after Due Date is allowable as Deduction: Rajasthan HC [Read Judgment]")
Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]
In a recent decision, the Supreme Court held that the share issue expenses are allowable under section 35D of the Income Tax Act, 1961. The Supreme Court bench comprising of Justice A K Sikri and...
![Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Supreme-Court-of-India-Tax-Scan-1.jpg "Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]")
Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal, Mumbai, if the assessee does not make disallowance u/s 43-Bin bonafide belief, then the Revenue cannot impose penalty under section 271(1)(c) of...
![Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Penalty-Tax-Scan.jpg "Penalty cannot be levied on Non-disallowance of Expenditure by the assesee on bonafide belief: ITAT Mumbai [Read Order]")
Service Tax billed on rendering of Service is not ‘trading receipts’, not subject to Income Tax: Bombay HC [Read Judgment]
The division bench of the Bombay High Court, in a recent decision held that the income earned from service tax billed on rendering of service is not subject to income tax since the same does not...
![Service Tax billed on rendering of Service is not ‘trading receipts’, not subject to Income Tax: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Service-Tax-Taxscan.jpg "Service Tax billed on rendering of Service is not ‘trading receipts’, not subject to Income Tax: Bombay HC [Read Judgment]")
S. 43B of Income Tax Act is not applicable in Cases where the assesse has not claimed statutory liability as business expenditure; ITAT Hyderabad [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal(ITAT), has recently held that in cases where the assesse has not claimed statutory liability as business expenditure, the claim in respect of...
