ITAT Bangalore — Direct Tax

1. ITAT Bangalore · 02 Jun 2016
   ITAT - Receipt of bonus shares does not result in ‘receipt of property without consideration’ as envisaged u/s. 56(2)(vii)(c). Revenue not justified in adopting FMV of bonus shares and making addition u/s 56(2)(vii)(c) applying Rule 11 UA(B).

   DCIT. vs. Dr. Rajan Pai

   (2016) TaxCorp(LJ) 10284 (ITAT-BANGALORE) · Section. 56(2)

2. ITAT Bangalore · 31 May 2016
   ITAT - No deduction u/s 48 for home-loan interest while computing short term capital gains on transfer of self occupied house-property as already subject to deduction u/s. 24.

   Captain B L Lingaraju vs. ACIT

   (2016) TaxCorp(LJ) 10273 (ITAT-BANGALORE)

3. ITAT Bangalore · 20 May 2016
   “Administrative” CBDT instruction did not have the effect of over-riding, modifying or amending any provisions of the Act.

   Udbhav Constructions vs. DCIT

   (2016) TaxCorp(LJ) 10234 (ITAT-BANGALORE)

4. ITAT Bangalore · 16 May 2016
   ITAT - ‘Customer relationship rights’ paid upon acquisition of business undertaking cannot be regarded as non-compete fees.

   Incap Contract Manufacturing Services Pvt. Ltd. vs. DCIT

   (2016) TaxCorp(LJ) 10195 (ITAT-BANGALORE)

5. ITAT Bangalore · 13 May 2016
   ITAT - Where delay in appeal-disposal was not attributable to assessee then stay can be granted beyond 365 days.

   Google India Private Ltd. Vs. The Deputy Commissioner of Income Tax

   (2016) TaxCorp(LJ) 10189 (ITAT-BANGALORE)

6. ITAT Bangalore · 11 May 2016
   ITAT - Amount received by foreign resident from its Indian affiliate under Management and Administration Services agreement constitutes royalty for supply of commercial information.

   TNT Express Worldwide (UK) Limited vs. DDIT (International Taxation)

   (2016) TaxCorp(LJ) 10186 (ITAT-BANGALORE)

7. ITAT Bangalore · 05 May 2016
   ITAT - Research that goes into development of modern LCA or helicopter is scientific-research. Eligible u/s 35(1)(iv).

   Hindustan Aeronautics Ltd. vs. ACIT

   (2016) TaxCorp(LJ) 10164 (ITAT-BANGALORE) · Section. 35(1)(iv)

8. ITAT Bangalore · 14 Apr 2016
   ITAT - Remedy against the order passed under Section 195(2) does not lie before the appellate authorities by filing the appeal for want of jurisdiction

   Bangalore International Airport Limited vs. ITO

   (2016) TaxCorp(LJ) 10111 (ITAT-BANGALORE) · Section. 195(2)

9. ITAT Bangalore · 07 Apr 2016
   ITAT - Unabsorbed depreciation is not a loss but allowances under section 32. Sec 79 is inapplicable to set off and carry forward of unabsorbed depreciation.

   Swiss Re Healthcare Services P. Ltd. vs. PCIT

   (2016) TaxCorp(LJ) 10080 (ITAT-BANGALORE) · Section. 79

10. ITAT Bangalore · 04 Apr 2016
    ITAT - Total income computed in accordance with provisions of the Act, except provisions of Sec 36(1)(viia) and Chapter VIA alone to be considered for the purpose of calculating the amount of deductionu/s 36(1)(viia).

    Canara Bank vs. JCIT, ACIT

    (2016) TaxCorp(LJ) 10071 (ITAT-BANGALORE)

11. ITAT Bangalore · 28 Mar 2016
    Deduction of section-10B, transferring pricing adjustment on account of ECB from parent company

    Intergarden India Pvt Ltd vs. ACIT

    (2016) TaxCorp(LJ) 10039 (ITAT-BANGALORE) · Section 10B

12. ITAT Bangalore · 23 Mar 2016
    ITAT - FMV of land relevant for capital gains and not construction cost on transfer of land pursuant to a JDA.

    ACIT. Vs. Shankar Vittal Motor Co. Ltd.

    (2016) TaxCorp(LJ) 10032 (ITAT-BANGALORE)

13. ITAT Bangalore · 22 Mar 2016
    ITAT - Wealth tax to be levied on an urban land even though the land was part of the JDA.

    Triad Resorts & Hotels P. Ltd. V. WTO

    (2016) TaxCorp(LJ) 10028 (ITAT-BANGALORE)

14. ITAT Bangalore · 18 Mar 2016
    ITAT - For making Sec 54EC capital-gains investment, sale-deed execution date is relevant and not consideration-receipt date.

    Harikrishna R Vs. ITO

    (2016) TaxCorp(LJ) 10021 (ITAT-BANGALORE) · Section. 54EC

15. ITAT Bangalore · 10 Mar 2016
    ITAT - No TDS liability on year-end provisions for expenses which got reversed on first day of next accounting year.

    Bosch Limited vs. ITO

    (2016) TaxCorp(LJ) 9998 (ITAT-BANGALORE)

16. ITAT Bangalore · 03 Mar 2016
    Transfer Pricing: The existence of an "international transaction" w.r.t. AMP Expenditure cannot be assumed. The onus is on the TPO to prove such transaction. There is no machinery provision to ascertain the price to promote the AE's brand values. The AMP Expenditure should be treated as operating cost to apply TNMM and determine ALP of transactions with AE

    Essilor India Pvt.Ltd vs. DCIT

    (2016) TaxCorp(LJ) 9995 (ITAT-BANGALORE)

17. ITAT Bangalore · 02 Mar 2016
    ITAT - No TDS u/s 194J on amount paid to MD for granting right of first refusal in respect of future business initiatives.

    WiFi Networks Pvt. Ltd. vs. DCIT

    (2016) TaxCorp(LJ) 9979 (ITAT-BANGALORE)

18. ITAT Bangalore · 28 Feb 2016
    S. 206AA: S. 90(2) overrides s. 206AA and so the assessee is required to deduct TDS as per the DTAA and not as per s. 206AA. The issue is debatable and so cannot be rectified by the AO u/s 200A

    Wipro Ltd vs. ITO

    (2016) TaxCorp(LJ) 9974 (ITAT-BANGALORE) · Sections 206AA, 90(2)

19. ITAT Bangalore · 27 Nov 2015
    Securities premium is not accumulated profits u/s 2(22)(e): ITAT

    M/s Jeans Knit Pvt. Ltd. vs. ACIT

    (2016) TaxCorp(LJ) 9885 (ITAT-BANGALORE) · Section. 2(22)(e)

20. ITAT Bangalore · 02 Feb 2016
    ITAT - Stay extended beyond 365 days till disposal of appeal or further period of 180 days.

    SAP Labs India Pvt Ltd vs ACIT

    (2016) TaxCorp(LJ) 9809 (ITAT-BANGALORE)

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