Judgement

ITAT holds deductions under Sections 36(1)(viia) and 36(1)(viii) operate independently for computation purposes.

ITAT Deletes Rs 25.12 Crore Disallowance on Independent Section 36 Deduction Computation

ITAT Special Bench upholds Section 36(1)(viia) deduction for RBI-mandated NPA provisions created by banks.

ITAT Special Bench Upholds Section 36(1)(viia) Deduction for RBI-Mandated Bad Debt Provisions

Tribunal holds that deduction for provision for bad debts must be computed on “total income” as expressly stated in the statute

ITAT: Section 36(1)(viia) Deduction Allowed on Total Income; Section 263 Revision Upheld Only for 14A Non-Examination

ITAT Mumbai confirms that deductions under Sections 36(1)(vii), 36(1)(viia)(c) and 36(1)(viii) are independent; restricts Section 14A disallowance to assessee’s own working and remands lease-premium issue under Section 158A.

Rs 5.5 Crore 14A Disallowance Cut Down to Rs 1.16 Cr: ITAT Favors Assessee on Rule 8D Misuse

Notifications

Income Tax Chief Commissioner grants Scientific Research approval to the company IIT Madras Research Park under Section 35(1)(iia) of Income Tax Act.

CBDT Grants Approval to IIT Madras Research Park For Scientific Research

The Central Board of Direct Taxes (CBDT) has notified Units of Investment Trusts and ETFs of IFSC for Exemption u/s 47(viiab) of Income Tax Act via issuing Notification.

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ITAT Deletes Rs 25.12 Crore Disallowance on Independent Section 36 Deduction Computation

ITAT Special Bench Upholds Section 36(1)(viia) Deduction for RBI-Mandated Bad Debt Provisions

ITAT: Section 36(1)(viia) Deduction Allowed on Total Income; Section 263 Revision Upheld Only for 14A Non-Examination

Rs 5.5 Crore 14A Disallowance Cut Down to Rs 1.16 Cr: ITAT Favors Assessee on Rule 8D Misuse

CBDT Grants Approval to IIT Madras Research Park For Scientific Research

CBDT notified Units of Investment Trusts and ETFs of IFSC for Exemption u/s 47(viiab) of Income Tax Act