![ITAT Reduces Ad-hoc Expenses Addition to 10% of Turnover, Earlier Estimates Held High [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104490-itat-ad-hoc-expenses-estimates-held-high-itat-reduces-ad-hoc-expenses-taxscan.webp "ITAT Reduces Ad-hoc Expenses Addition to 10% of Turnover, Earlier Estimates Held High [Read Order]")
ITAT Reduces Ad-hoc Expenses Addition to 10% of Turnover, Earlier Estimates Held High [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) partly allowed the appeal of a partnership firm for AY 2017-18 by reducing the ad-hoc ...
![Assessee’s POCM Accounting Complies with ICAI Guidance Note for Real Estate Projects: ITAT Deletes ₹47.26 Crore Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104479-pocm-icai-real-estate-projects-itat-pocm-accounting-complies-taxscan.webp "Assessee’s POCM Accounting Complies with ICAI Guidance Note for Real Estate Projects: ITAT Deletes ₹47.26 Crore Addition [Read Order]")
![Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104478-revenue-expenditure-licence-to-use-software-merrill-lynch-case-taxscan.webp "Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]")
![ITC under VAT cannot be Considered as Income Unless Claimed as Expenditure in P&L Account: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104464-itc-vat-pl-account-itat-expenditure-in-pl-account-taxscan.webp "ITC under VAT cannot be Considered as Income Unless Claimed as Expenditure in P&L Account: ITAT [Read Order]")
![Estimated Profit Addition Not a Ground for Penalty: ITAT Deletes ₹42.68 Lakh Levy u/s 271(1)(c) [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104454-no-penalty-taxscan.webp "Estimated Profit Addition Not a Ground for Penalty: ITAT Deletes ₹42.68 Lakh Levy u/s 271(1)(c) [Read Order]")
NCLT Approves Cochin Aircraft Maintenance Company’s ₹87.75 Lakh Capital Reduction Following Shift to Consultancy Services [Read Order]
The National Company Law Tribunal (NCLT) Kochi Bench has approved Cochin Aircraft Maintenance Company Limited’s proposal to reduce its paid-up share capital under Section 66 of the Companies Act,...
![NCLT Approves Cochin Aircraft Maintenance Company’s ₹87.75 Lakh Capital Reduction Following Shift to Consultancy Services [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104435-cochin-aircraft-maintenance-taxscan.webp "NCLT Approves Cochin Aircraft Maintenance Company’s ₹87.75 Lakh Capital Reduction Following Shift to Consultancy Services [Read Order]")
Interest Payable on Entire Amount Deposited During Investigation, ‘Interest On Interest’ also Admissible When Refund is Delayed: CESTAT [Read Order]
The Allahabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that when an assessee deposits money during investigation, interest is payable on the entire amount ...
![Interest Payable on Entire Amount Deposited During Investigation, ‘Interest On Interest’ also Admissible When Refund is Delayed: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104416-reund-delay-taxscan.webp "Interest Payable on Entire Amount Deposited During Investigation, ‘Interest On Interest’ also Admissible When Refund is Delayed: CESTAT [Read Order]")
Notebook Suppliers not Providing Goods at Zero-GST Rate: Manufacturers flag Cost Escalation & Import Surge
Notebook manufacturers across India have expressed concerns over growing production costs following the recent changes effectuated to the Goods and Services Tax (GST) rates changes that placed...
Reassessment Based on Borrowed Belief from ACB Report Invalid: ITAT Quashes S.147 & S.263 [Read Order]
In a consolidated decision covering AYs 2014-19, the Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) held that reassessment proceedings initiated against the assessee were vitiated as it was...
![Reassessment Based on Borrowed Belief from ACB Report Invalid: ITAT Quashes S.147 & S.263 [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104658-reassessment-borrowed-belief-acb-report-invalid-itat-taxscan.webp "Reassessment Based on Borrowed Belief from ACB Report Invalid: ITAT Quashes S.147 & S.263 [Read Order]")
Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]
In a dispute over the quantum of deduction under Section 54 of the Income Tax Act, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal challenging the relief ...
![Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104639-joint-purchase-full-deduction-itat-exemption-taxscan.webp "Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]")
DRAT Allows appeal against Central Bank of India , Orders Refund of Rs. 30.82 Lakhs Outstanding amount to Borrowers in Educational Loan Dispute [Read Order]
The Debt Recovery Appellate Tribunal (DRAT), Chennai, has allowed an appeal filed by borrowers against Central Bank of India, setting aside a DRT order and directing the bank to refund a significant...
![DRAT Allows appeal against Central Bank of India , Orders Refund of Rs. 30.82 Lakhs Outstanding amount to Borrowers in Educational Loan Dispute [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104634-drat-appeal-central-bank-of-india-refund-educational-loan-dispute-taxscan.webp "DRAT Allows appeal against Central Bank of India , Orders Refund of Rs. 30.82 Lakhs Outstanding amount to Borrowers in Educational Loan Dispute [Read Order]")