Judgement

The ITAT allows depreciation claim on foreign exchange loss capitalised under Section 43A and deletes Rs 2.42 lakh disallowance.

ITAT Deletes Rs 2.42 Lakh Disallowance, Allows Depreciation on Capitalised Forex Loss Under Section 43A

Notifications

DPCC has been exempted from income tax on specified income under Section 10(46), subject to prescribed conditions.

Centre Grants Income Tax Exemption to Delhi Pollution Control Committee u/s Section 10(46)

The ITAT Mumbai holds salary paid to expatriates working exclusively for India operations is not Head Office expenditur and  directs deduction of direct costs. 


ITAT Allows Standard Chartered's Expatriate Salary and Direct Cost Claims 

The ITAT deleted the Section 68 addition after ruling that the assessee had proved the lender's identity, creditworthiness, and the genuineness of the unsecured loan.

ITAT Deletes Rs 12 Lakh Section 68 Addition After Assessee Proves Lender’s Identity, Creditworthiness and Genuine Transaction

ITAT restored the appeal for fresh adjudication, holding that the delay was properly explained and deserved condonation.

ITAT Orders Fresh Hearing in TDS Dispute Over Online Movie Ticket Convenience Fee

The ITAT invalidated the entire reassessment proceedings, holding that approval should be taken from PCCIT under Section 151(ii) when a Section 148 notice is issued after the statutory time limit of three years.

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ITAT Deletes Rs 2.42 Lakh Disallowance, Allows Depreciation on Capitalised Forex Loss Under Section 43A

Centre Grants Income Tax Exemption to Delhi Pollution Control Committee u/s Section 10(46)

ITAT Allows Standard Chartered's Expatriate Salary and Direct Cost Claims

ITAT Deletes Rs 12 Lakh Section 68 Addition After Assessee Proves Lender’s Identity, Creditworthiness and Genuine Transaction

ITAT Orders Fresh Hearing in TDS Dispute Over Online Movie Ticket Convenience Fee

ITAT Holds Approval Should Be Taken from PCCIT under Section 151(ii) When Section 148 Notice Is After 3-Year Time Limit