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Disabling provision of Explanation 2 to Section 37(1) will not be attracted on CSR expenditure incurred on a voluntary basis and for the purpose of promotion of business and are allowable deduction under Section 37.
JSW Cement Ltd Vs Addl.CIT/Dy. ACIT
(2022) TaxCorp(LJ) 29958 (ITAT-MUMBAI)
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Payment under consideration cannot be considered to be FTS as it is not related to managerial, technical or consultancy services and even AE does not provided any service to the Assessee.
Red Hat India Pvt. Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29956 (ITAT-MUMBAI)
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The transaction involved is free sale and amount paid to AE for supply of Red Hat Subscription is the price of maintaining and support services and not the price for license of software.
Red Hat India Pvt. Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29955 (ITAT-MUMBAI)
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Revenue’s suspicion on impugned transaction, just because HRPL is an entity associated to the Assessee which derived substantial return on the option deposits from this arrangement, is factually perverse.
K. Raheja Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29943 (ITAT-MUMBAI)
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The concept of ‘ready to use’ is not applicable in the facts of the present case, since Assessee could not have put these 14206 units in use in the business of leasing at all.
L&T Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29922 (ITAT-MUMBAI)
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We do not find any error in the finding of the Ld. CIT(A) in upholding the Project Completion Method followed by the Assessee for declaring income from the project under reference.
Suratchandra B. Thakkar (HUF) Vs ACIT-30(3)
(2022) TaxCorp(LJ) 29918 (ITAT-MUMBAI)
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Since the business loss of 13.43 Cr has not been carried forwarded to AY 2007-08, the same is not available for set off against Assessee’s income as per Section 72A.
Hotel Leela Venture Ltd Vs Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29897 (ITAT-MUMBAI) · Sections 72A, 79
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The adjustment by CPC stands merged with the scrutiny assessment order, by application of doctrine of merger and only scrutiny assessment order under Section 143(3) survives.
National Stock Exchange Investor Protection Fund Trust Vs DCIT
(2022) TaxCorp(LJ) 29886 (ITAT-MUMBAI) · Sections 10(23EA), 11
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Assessee is eligible for depreciation under Section 32 as non-compete fee is an intangible asset.
Abbott Healthcare Private Limited Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29876 (ITAT-MUMBAI)
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There is tax treaty existing between India and Switzerland, MAT provisions cannot apply where tax treaty is invoked as the provisions of Section 115JB are only subordinate to Section 90(2).
Credit Suisse AG Vs ACIT(IT)
(2022) TaxCorp(LJ) 29854 (ITAT-MUMBAI)
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Mere fact of an Assessee’s offering an income to tax in an earlier year cannot be the reason enough to negate his otherwise lawful claim of non-taxability.
Michael Page International Recruitment Pvt Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29840 (ITAT-MUMBAI)
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Applicability of Section 50 is limited for working out the cost of acquisition under Sections 48 and 49 for the depreciable asset but the capital gain has to be treated as long term capital gain if the period of holding is more than 3 years.
Reliance Transport & Travels Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29828 (ITAT-MUMBAI)
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Payments made by Deloitte to its group company in respect of global brand, global communications and global technology/knowledge management is not royalty under Article 12 of India-UK DTAA and thus, not liable for TDS under Section 195.
Deloitte Haskins & Sells LLP Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29819 (ITAT-MUMBAI)
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Rs.121.15 Cr received by a Singapore-based company from its Indian AE for rendering certain business support services is not taxable under India-Singapore DTAA as the services did not make available any technical knowledge or skill to the AE.
NTT Asia Pacific Holdings Pte Ltd Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29811 (ITAT-MUMBAI)
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It is not for CIT(E) to decide as to when and how should cancellation of the registration be made, at the point of time of granting the registration and specific provisions are in place for cancellation of registration.
Bai Navajbai Tata Zoroastrian Girls School Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 29809 (ITAT-MUMBAI)
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Mere usage of facility provided by Facebook does not render the payments as royalty, since copyright attached to the facility is not parted with.
Interactive Avenues Private Limited Vs DCIT
(2022) TaxCorp(LJ) 29807 (ITAT-MUMBAI)
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Payment made by the Assessee for advertisement in connection with their business falls within the ambit of section 194C and not section 194J.
Cowtown Software Design Pvt. Ltd., (Formerly known as Nabhiraja Software Design Pvt.Ltd.,) Vs DCIT
(2022) TaxCorp(LJ) 29791 (ITAT-MUMBAI) · Sections 194C, 194J
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In the present case, it is not in dispute that the Assessee has made claim for deduction under Section 80P, hence the provisions of sec. 80A(5) are not applicable to the assessee.
Meghana Apartment Cooperative Housing Society Ltd Vs ITO-25( 3)( 1)
(2022) TaxCorp(LJ) 29767 (ITAT-MUMBAI) · Section 80P, 143(1), 80AC
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Relaxation provisions must be interpreted in a liberal and non-pedantic manner, and so as to give full effect to the relaxations permitted by the legislature.
Suminter India Organics Pvt. Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29766 (ITAT-MUMBAI) · Section 115BAA
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Right to be heard contained in Section 250(2)(a) is not a condition precedent for the disposal of appeal on merits in accordance with Section 250(6).
Marvel Industries Limited Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29724 (ITAT-MUMBAI)
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