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ITAT - Exemption u/s 10B is available on duty drawback since manner of computing profits u/s 10B(4) does not require direct nexus with business unlike Sec 80(IB).
Ambika Sadh Vs. ITO
(2017) TaxCorp(LJ) 13590 (ITAT-DELHI) · Section. 10B
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ITAT - Since provision was made on scientific basis and in compliance with Accounting Standards, the same is deductible.
AT& T Global Network Services (India) Pvt. Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13588 (ITAT-DELHI)
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ITAT - Where electrical installations are treated as plant and machinery, depreciation allowable @ 25%.
HCL Technologies BPO Services Ltd. (now stands amalgamated with HCL Technologies Limited) Versus ACIT, CC 2, New Delhi
(2017) TaxCorp(LJ) 13585 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57845&Category=ITAT&CategoryType=Zip
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ITAT - CIT(A)’s rationale for deleting addition that assessee offered capital gains on transactions with accommodation entry provider, was not proper.
Esha Securities Pvt. Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13574 (ITAT-DELHI)
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ITAT - Foreign travelling expenses incurred for purchase of Machinery from outside India cannot be treated as Capital Expenditure.
M/s Pile Foundation Co. Versus ITO, Ward 38 (3) , New Delhi
(2017) TaxCorp(LJ) 13499 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57634&Category=ITAT&CategoryType=Zip
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ITAT - A charitable institution which has treated amount spent on purchase of capital asset as application of income, is entitled to claim depreciation.
Sangam Educational Society, C/O Akhilesh Kumar, Advocate Versus Addl. CIT, Range-1, Ghaziabad
(2017) TaxCorp(LJ) 13493 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57613&Category=ITAT&CategoryType=Zip
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ITAT - The section of public to whom benefit is intended is farmers constituting approx. 60% - 70% of population of country and the protection of interests of farmers will invariably confer several benefits. Society meets 'general public utility' criteria.
Bhartiya Kisan Sangh Sewa Niketan vs. CIT(Exemptions)
(2017) TaxCorp(LJ) 13488 (ITAT-DELHI)
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ITAT - In case of remand of quantum addition to AO, penalty u/s. 271(1)(c) should also be remanded.
ST Microelectronics Pvt. Ltd., Vs. ACIT
(2017) TaxCorp(LJ) 13467 (ITAT-DELHI)
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ITAT - Providing free air travel, stay and food in hotels, local car conveyance etc. for prescribing medicines of the assessee (a pharma company) is akin to giving commission and certainly in contravention of the public policy. Disallowance of 50% of sales promotion expenses justified.
OCHOA Laboratories Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13466 (ITAT-DELHI)
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ITAT - Alleged gift of immovable property to her daughter should be treated as ‘sale’ and Sec. 50C applicabile.
Smt. Balwant Kaur Mangat Vs ITO
(2017) TaxCorp(LJ) 13465 (ITAT-DELHI)
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ITAT - DRP has powers to propose TP-adjustment even though AO/TPO did not propose such adjustment in the draft order.
Bausch & Lomb India Pvt. Ltd vs. ACIT
(2017) TaxCorp(LJ) 13464 (ITAT-DELHI) · Section 263
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ITAT - In case of gift of immovable property to daughter, assessee failed to prove that mistakenly instead of gift deed, sale deed was made, no exemption allowed u/s 47(iii) as gift. Addition u/s 50C confirmed.
Smt. Balwant Kaur Mangat Versus ITO, Ward-1 (2), Ghaziabad
(2017) TaxCorp(LJ) 13446 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57528&Category=ITAT&CategoryType=Zip
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ITAT - Even where books of account were not rejected, since the AO has clearly established that the purchases were bogus, there is no justification for accepting the contentions that only part of the purchase should be disallowed.
M/s Shree Krishan Kripa Feeds, C/o Kapil Goel, Adv. Versus ITO, Ward-1, Panipat
(2017) TaxCorp(LJ) 13445 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57529&Category=ITAT&CategoryType=Zip
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ITAT - Reopening of assessment not valid as AO has invoked the jurisdiction u/s 147 without completing original enquiry initiated u/s 143(2).
Pradeep Sharma Versus DCIT, Central Circle-17, New Delhi
(2017) TaxCorp(LJ) 13432 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57485&Category=ITAT&CategoryType=Zip
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ITAT - No disallowance of stamp duty charges paid at the time of registration of rent agreement in the absence of any capital asset coming into existence in the hands of the company.
M/s E-Smart Systems Private Limited Versus ITO Ward - 8 (3), New Delhi
(2017) TaxCorp(LJ) 13431 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57486&Category=ITAT&CategoryType=Zip
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ITAT - In case of international transaction of ‘Purchase of finished goods’ RPM is the most appropriate method in the given circumstances.
ACIT, Circle 1 (1), New Delhi Versus Akzo Nobel Car Refinishes India Pvt. Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13430 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57487&Category=ITAT&CategoryType=Zip
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ITAT - Product testing fee to foreign AE for testing its products does not amount to fees for technical services. Np TDS u/s 195.
Gates India (P) Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13425 (ITAT-DELHI) · Section. 195
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ITAT - The process of manufacturing DG sets does not involve mere ascending of parts but is actually a manufacturing process resulting in the manufacture of new product from the raw materials by giving them new properties. Deduction u/s 80IB allowed.
ACIT Circle-II, Faridabad Versus Sunil Parkash, Prop. M/s. Cromewell Industries And Vice-Versa
(2017) TaxCorp(LJ) 13412 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57463&Category=ITAT&CategoryType=Zip
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S. 69A: NDTV indulged in a clear cut case of "abuse of organization form/ legal form and without reasonable business purpose” and therefore, no fault can be found with the order of the AO in charging to tax Rs. 642 crores by re-characterizing the conditions according to its economic substance and imposing the tax on the actual controlling Indian entity. There is no doubt that the transaction used principally as a devise for the distribution/ diversion of sum to the Indian entity. The beneficial owner of the money is the assessee
New Delhi Television Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13234 (ITAT-DELHI) · Section. 69A
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ITAT - In absence of any commercial exploitation, payment to a foreign company for accessing database is not royalty under Article 12 of India-Singapore DTAA.
Kinsey Knowledge Centre India Pvt. Ltd. Vs. ITO
(2017) TaxCorp(LJ) 13211 (ITAT-DELHI)
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