#section 37(1)
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615 articlesIncome Tax

Income Tax
Goodwill is an intangible asset which is eligible for depreciation: Delhi HC
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Proving debt become irrecoverable not required after 01.04.1989: ITAT Delhi
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Interest on delayed payment of custom duty deductible u/s. 37: ITAT Bangalore
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Deduction u/s. 80-IB disallowed for interest on staff advances and bank deposits: ITAT Ahmedabad
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HC Remands Case to ITAT on Exchange Rate Loss for Assets Acquired in India Under Sections 43A & 37(1)
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Discount on issue of ESOP is allowable deduction: Karnataka HC
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Reopening of assessment based on mere change of opinion unsustainable: ITAT Delhi
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Treatment of losses due to exchange rate fluctuation needs effective adjudication hence matter remanded
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Matter restored as no findings rendered on various documentary evidences: ITAT Chennai
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Expenditure on abandoned software project allowable as revenue in nature: ITAT Ahmedabad
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Income Tax
Disallowance u/s. 36(1)(iii) unjustified as interest-free funds exceeds loan to subsidiary: ITAT Ahmedabad
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Income Tax
Reassessment proceedings quashed as sanction granted u/s. 151 in a mechanical manner: Bombay HC
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Income Tax
Income Tax Deductions allowable to tax payer
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