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Expenses incurred for promotion of pharmaceutical products in the form of gifts or incentives (freebies) to the doctors are against public policy and being prohibited by law and same are not allowable under Section 37(1).
Galderma India Pvt. Ltd. (Formerly known as Nestle Skin Health India Pvt. Ltd.) Vs ACIT
(2023) TaxCorp(LJ) 31309 (ITAT-MUMBAI)
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As Assessee does not have a permanent establishment in India, the article 7 of the treaty will trigger only if such profits are attributable to a permanent establishment in India.
Taj TV Limited Vs DCIT
(2023) TaxCorp(LJ) 31288 (ITAT-MUMBAI)
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Several notices were issued under Section 142(1) seeking details of deposits made by account holders, however no reference was made to any material or document seized in the course of search in any of the notices.
Renukamat Multi State Coop Urban Credit Soc. Ltd Vs ACIT
(2023) TaxCorp(LJ) 31287 (ITAT-MUMBAI)
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Since both the conditions for classification as financial liability failed, the instruments cannot be classified as financial liability and thus, in turn cannot be termed as CFI in absence of the financial liability component.
Reliance Industrial Investment and Holdings Limited Vs DCIT
(2023) TaxCorp(LJ) 31274 (ITAT-MUMBAI)
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As per provisions of Section 115A(i)(a)(ii), interest income earned by the assessee would be chargeable to tax at 20%.
Cooperative Rabobank UA Vs Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31269 (ITAT-MUMBAI)
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ITAT - Mumbai ITAT Quashes Assessment Order for Non-Conformity with DRP's Finding on Type of PE; Emphasizes Need for 'Complete Conformity' Under Section 144C.
AZZ WSI B.V. Vs The Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31267 (ITAT-MUMBAI)
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Payment for Supervision, Installation, and Commissioning Services Not FTS under India-Belgium DTAA; Invokes MFN Clause under India-Portugal DTAA, Deletes Disallowance under Section 40(a)(i).
Dieffenbacher GmbH Vs The ACIT
(2023) TaxCorp(LJ) 31265 (ITAT-MUMBAI)
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ITAT - Determines Non-taxability of Advertising Rights Payment as Royalty in Cricket Tournaments by considering LoB Clause Applicability.
Total Sports & Entertainment India P. Ltd Vs Income Tax Officer
(2023) TaxCorp(LJ) 31263 (ITAT-MUMBAI)
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Reopening of assessment under Section 148 cannot be justified on hypothesis of a future event.
World Sport Group (Mauritius) Limited Vs The DCIT
(2023) TaxCorp(LJ) 31235 (ITAT-MUMBAI)
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The addition on account of interest of Rs.68.49 Cr @ 22% as directed by the DRP is unsustainable.
CPI India Real Estate Ventures Limited Vs Deputy Commissioner of Income-tax
(2023) TaxCorp(LJ) 31228 (ITAT-MUMBAI)
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Though this Special Bench judgment referred to supra has been rendered in the context of pre-Securities Transaction Tax (STT) era, still the analogy drawn thereon would be applicable to the facts of the instant case.
J.P. Morgan Fund Vs Dy. Commissioner of Income Tax (IT)
(2023) TaxCorp(LJ) 31218 (ITAT-MUMBAI)
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Where the final assessment order is passed beyond prescribed time limit the same is liable to be quashed.
APM Terminals India Private Limited Vs The Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31216 (ITAT-MUMBAI) · Section 144C(13)
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CC Ltd is eligible to claim additional depreciation under Section 32(1)(iia) on the assets acquired in earlier AY.
ACC Limited Vs Addl. CIT – LTU
(2023) TaxCorp(LJ) 31192 (ITAT-MUMBAI)
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Payment received by a US based entity for providing access to Microsoft software to its group companies does not amount to royalty under the domestic law as well as India-US DTAA.
Atos IT Solutions and Services Inc Vs DCIT (IT)
(2023) TaxCorp(LJ) 31183 (ITAT-MUMBAI)
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AO is duty bound to carry out the verifications and examine the documents furnished by the Assessee in compliances with the directions of DRP.
DSV Air & Sea Pvt.Ltd Vs Additional/Joint/Deputy/Assistant Commissioner of Income Tax/ Income-tax Officer, The National Faceless Assessment Centre
(2023) TaxCorp(LJ) 31182 (ITAT-MUMBAI)
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The buying and selling of the NCDs was made for commercial consideration and business exigency, to preserve the business reputation and the primary source of business, thus allowable as business loss.
Deutsche Asset Management India P. Ltd Vs Asst CIT CIR 2(1) (1)
(2023) TaxCorp(LJ) 31169 (ITAT-MUMBAI)
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While computing capital gains arising on transfer of a capital asset received by the Assessee under a will, the indexed cost of acquisition has to be computed with respect to the year in which the first owner held the asset.
Sohrab Fali Mehta Vs Income Tax Officer
(2023) TaxCorp(LJ) 31162 (ITAT-MUMBAI)
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In view of the transitional provisions stipulated in ICDS-III, retention money related to the construction contracts commenced before Mar 31, 2016 should be recognized in accordance with the method regularly followed by the Assessee.
Hindustan Construction Company Limited Vs DCIT
(2023) TaxCorp(LJ) 31160 (ITAT-MUMBAI)
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Payments made by Assessee to its parent company in Dubai under general and administrative service agreement is neither business income nor fee for technical services.
ITP Publishing India Pvt. Ltd Vs ACIT
(2023) TaxCorp(LJ) 31159 (ITAT-MUMBAI)
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There is no legal or valid reason to add the alleged loss arising from alleged Ready Forward transactions.
Standard Chartered Bank Vs DCIT
(2023) TaxCorp(LJ) 31158 (ITAT-MUMBAI)
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