ITAT Bangalore held that no disallowance under section 14A of the Income Tax Act could be made if no exempt income was earned by the assessee.
ITAT Bangalore held that the expenditure on account of ESOP is a revenue expenditure and had to be allowed as deduction while computing income.
ITAT Bangalore held that provision for long term service award is made on actuarial valuation and amount provided for in the books of accounts based on actuarial valuation cannot be said to be contingent.
ITAT Bangalore disallowance u/s 40(a)(i) of the Income Tax Act for non-deduction of TDS for payments not qualifying as fees for technical services and not being business income taxable in India is sustainable
ITAT Bangalore held that no disallowance under section 14A of the Income Tax Act could be made if no exempt income was earned by the assessee.
ITAT Bangalore held that expenditure for cost of improvements incurred towards capital assets is eligible for indexation benefit.
ITAT Bangalore held that invocation of provisions of section 263 justifiable as AO failed to reconcile the claim of long term capital gain exemption with the amounts furnished in Form 10DB
ITAT Bangalore held that AO allowed the claim of assessee after due application of mind and on proper consideration of the material available on record. Therefore, the order of Ld. CIT passed u/s 263 of the Act cannot be sustained.
ITAT Bangalore held that disallowance u/s 40(a)(i) unsustainable as assessee is not liable to deduct TDS for reason that consideration received couldnt have been regarded as income deemed to accrue or arise in India.
ITAT Bangalore held that any ambiguity in a taxing statute should ensure the benefit of the subject/ assessee. Accordingly, the taxing provision of late fee in respect of late filing of TDS return came into force from 01.06.2015. Hence, late fees u/s 234E cannot be levied before 01.06.2015.
