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All the primary facts in connection with the deduction claimed by the Assessee were called for in the original assessment on perusal of which, the deduction was granted.
BIOCON LTD Vs The Joint Commissioner of Income-tax
(2022) TaxCorp(LJ) 29517 (ITAT-BANGALORE) · Section 35(2AB)
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Mere generation of surplus cannot be a reason to deny exemption u/s 11.
Janodaya Trust Vs ACIT
(2022) TaxCorp(LJ) 29502 (ITAT-BANGALORE) · Section 11
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Provision of Article 289 is not applicable as the Trust did not fall under Article 12 of the Constitution since it has a separate legal entity distinct from the state.
Udupi Nirmithi Kendra Vs ACIT
(2022) TaxCorp(LJ) 29498 (ITAT-BANGALORE) · Section 11
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Sale of impugned property gave rise to LTCG and not STCG. Therefore revenue is directed to examine eligibility for deduction u/s 54.
Sri. Mahendrasingh Ramsingh Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29476 (ITAT-BANGALORE)
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Pendency of appeal before HC on eligibility of income for exemption under Section 11 cannot be a reason for PCIT to cancel registration.
Devaraj Urs Educational Trust for Backward Classes Vs Principal CIT (Central)
(2022) TaxCorp(LJ) 29419 (ITAT-BANGALORE) · Section 12A
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Revenue, while giving effect to ITAT order cannot go into the question as to whether the expenditure is capital or revenue.
Altair Engineering India Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29381 (ITAT-BANGALORE) · Section 154
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The term 'process' used under Explanation 2 to Section 9(1)(vi) in the definition of 'royalty' does not imply any 'process' which is publicly available but is an item of intellectual property.
Madura Coats Pvt Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29370 (ITAT-BANGALORE)
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Merely because of the fact that initial advance has been made by the assessee as loan, the entire transaction cannot be considered as genuine transaction, wherein the value of the shares has gone down by 3733% i.e. Rs.5.6 crores became Rs.15 lakhs within a span of 7 days.
O3 Capital Global Advisory Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29369 (ITAT-BANGALORE)
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The bandwidth charges reimbursed by the Assessee is not in the nature of royalty and thus not liable for deduction of tax at source.
Cerner Healthcare Solutions India Private Ltd Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29352 (ITAT-BANGALORE)
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Professional services would not fall under the category of 'Fee for technical services' within the meaning of section 9(1)(vii).
Honeywell Technolgoy Solutions Pvt. Ltd. Vs Jt. CIT
(2022) TaxCorp(LJ) 29324 (ITAT-BANGALORE)
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The provisions of Sec. 2(47)(v) can be applied only if there is a written contract (not oral) coupled with the transfer of possession in terms of s.53A of the Transfer of Property Act.
Jaya Prakash Vs ITO
(2022) TaxCorp(LJ) 29314 (ITAT-BANGALORE)
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Receipt against transfer of rights need not be essentially capital gain. It can be Royalty.
Bosch Ltd. Vs The DCIT
(2022) TaxCorp(LJ) 29304 (ITAT-BANGALORE)
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DDT is a 'tax payable on the distribution of dividend' and it is in no way connected to the determination of 'total income'.
Texas Instruments (India) P. Ltd. Vs JCIT
(2022) TaxCorp(LJ) 29300 (ITAT-BANGALORE)
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Cost of work in progress is to be valued at cost or market price whichever is lower.
Ittina Properties Pvt. Ltd Vs The Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 29285 (ITAT-BANGALORE) · Section 80IB(10)
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Revenue is not justified in rejecting the valuation report merely on the ground that the projected results did not match the actual results.
TE Connectivity Services India Private Ltd Vs The Assessing Officer, National Faceless Assessment Centre
(2022) TaxCorp(LJ) 29264 (ITAT-BANGALORE)
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ITAT - Since rental income, both from property as well as equipment let out are separately identifiable in the lease agreements, rentals from letting out factory building is taxable under the head house property and not under IFOS.
Vectra Advanced Engineering Private Limited Vs The Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 29230 (ITAT-BANGALORE)
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ITAT - Since the year-end provision created was unquantifiable, failure to deduct tax there on will not attract penalty u/s 271C.
Wipro GE Healthcare Pvt. Ltd Vs The Additional Commissioner of Income Tax, TDS
(2022) TaxCorp(LJ) 29229 (ITAT-BANGALORE) · Section 271C
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Bad debts relating to non-rural branches are not required to be adjusted against PBDD allowed under clause (a) of section 36(1)(viia).
The Karnataka Bank Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29212 (ITAT-BANGALORE) · Section 36(1)(vii)
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Since the Assessee is entitled to the benefits of DTAA after having submitted the certificate of tax residency of the payee, the deduction of higher rate of tax under Section 206AA is not applicable on the payments made by the Assessee to non-residents.
Infosys BPO LTD Vs The DCIT
(2022) TaxCorp(LJ) 29203 (ITAT-BANGALORE)
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The interest paid on hedge swap taken for repayment of loan borrowed for the purpose of business is to be allowed as a deduction under Section 36(1)(vii).
Indianoil Skytanking Pvt. Ltd Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29202 (ITAT-BANGALORE) · Section 80-IA
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