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Income Tax Return Filed after Due Date under Section 80AC: ITAT denies Deduction [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has denied the claim for deduction as the income tax return was filed after the due date mentioned under Section 80AC of the Income Tax Act...

Income Tax Return Filed after Due Date under Section 80AC: ITAT denies Deduction [Read Order]
Fathima Karama A.M

Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while allowing relief to IndusInd Bank has held that the bad debts arising from the credit card business shall be allowable as business...

Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]
Rasheela Basheer

Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]

In a significant ruling in the case of Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Revenue sharing license fee paid fixedly to the department...

Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]
Taxscan Team

Sale of Prepaid Sim Cards / Recharge Vouchers  to distributors cannot be treated as Commission to attract S.194H, No TDS: ITAT grants relief to Vi

As a relief to Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Sale of prepaid sim cards/recharge vouchers to distributors cannot be treated as...

Sale of Prepaid Sim Cards / Recharge Vouchers  to distributors cannot be treated as Commission to attract S.194H, No TDS: ITAT grants relief to Vi
Taxscan Team

Not clear about loss occurred due to Embezzlement by Employees, the claim of Loss made by employee not allowable: ITAT [Read Order]

In the case of Aditya Birla Money Mart Limited, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that a claim of Loss made by the branch employee is not allowable when it is not...

Not clear about loss occurred due to Embezzlement by Employees, the claim of Loss made by employee not allowable: ITAT [Read Order]
Taxscan Team

Losses of Clients cannot be shifted by ABML to assessee Merely because those clients had been sourced or referred by Assessee, Claim under Options Maxima Scheme not allowable: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that losses of clients cannot be shifted by ABML to the assessee merely because those clients had been sourced or referred by the...

Losses of Clients cannot be shifted by ABML to assessee Merely because those clients had been sourced or referred by Assessee, Claim under Options Maxima Scheme not allowable: ITAT
Taxscan Team

Notice u/s 143(2) served on Wrong Address invalidates Assessment Order: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that notice u/s 143(2) served on wrong address invalidates the assessment Order. Shivaji S. Desai, the assessee assailed the...

Notice u/s 143(2) served on Wrong Address invalidates Assessment Order: ITAT [Read Order]
Taxscan Team

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