Judgement

The ITAT Chennai holds In-House R&D expenditure under Section 35(2AB) cannot be examined beyond the specific CASS issue.

ITAT Deletes R&D Disallowance as AO Exceeded Limited Scrutiny Jurisdiction

News

ITAT allows Tata Steel’s Rs 813.65 crore interest expenditure deduction claim for FY 2008-09, reducing the company’s expected tax exposure by around Rs 427 crore.

ITAT Allows Tata Steel’s Rs 813.65 Crore Interest Expenditure Deduction Claim, Tax Exposure Drops to Rs 1,259 Crore

The ITAT Mumbai held that business expenditure incurred through the credit card of the assessee’s spouse cannot be treated as payment for services requiring TDS.

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

The ITAT Ahmedabad holds cash returned by Housewife to Father-in-Law cannot be treated as Unexplained Expenditure.



ITAT Allows Telescoping Benefit on Family Cash Transactions 

The ITAT Bangalore held that success fee of Rs 1.47 crore was wholly and exclusively incurred in connection with assessee’s sale of shares. 


ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

The ITAT Chennai rules revenue must establish actual incurrence of expenditure and provide effective opportunity. 

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ITAT Deletes R&D Disallowance as AO Exceeded Limited Scrutiny Jurisdiction

ITAT Allows Tata Steel’s Rs 813.65 Crore Interest Expenditure Deduction Claim, Tax Exposure Drops to Rs 1,259 Crore

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT Allows Telescoping Benefit on Family Cash Transactions

ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

ITAT Holds Third-Party Ledger Alone Cannot Prove Unaccounted Cash Purchases