ITAT Mumbai — Direct Tax

1. ITAT Mumbai · 25 Apr 2016
   ITAT - Provisions related to TDS on foreign remittance and appeal u/s 248 explained.

   International Air Transport Association vs. ADIT

   (2016) TaxCorp(LJ) 10143 (ITAT-MUMBAI) · Section 248

2. ITAT Mumbai · 22 Apr 2016
   ITAT - All taxes have been paid by British gas and second time TDS cannot be deducted on same amount.

   DCIT. vs. Mahanagar Gas Ltd.

   (2016) TaxCorp(LJ) 10138 (ITAT-MUMBAI)

3. ITAT Mumbai · 22 Apr 2016
   ITAT - Revision of order u/s 263 cannot be done if two views are possible on the issue. There is no money borrowed or debt incurred as such provisions of sec. 2(28A) and sec. 194A do not apply.

   Neo Sports Broadcast Pvt. Ltd. vs. CIT (TDS)

   (2016) TaxCorp(LJ) 10137 (ITAT-MUMBAI) · Section. 194A

4. ITAT Mumbai · 22 Apr 2016
   ITAT - TDS u/s 194C and not u/s 194J is applicable to subscription payments made to TV channels for redistribution of TV Channels through cable operators.

   ITO. vs. Wire & Wireless (India) Limited

   (2016) TaxCorp(LJ) 10136 (ITAT-MUMBAI) · Sections. 194C, 194J

5. ITAT Mumbai · 22 Apr 2016
   S. 40(a)(ia)/ 192: Employees deputed pursuant to a secondment agreement are not "employees" of the assessee and so the amounts paid by way of reimbursement of their salary is not subject to TDS in the assessee's hands

   DCIT vs. Mahanagar Gas Ltd

   (2016) TaxCorp(LJ) 10132 (ITAT-MUMBAI) · Section 40(a)(ia), 192

6. ITAT Mumbai · 15 Apr 2016
   Transfer Pricing Of Corporate Guarantees: Explanation i(c) to S. 92 B, though stated to be clarificatory and stated to be effective from 01.04.2002, has to be necessarily treated as effective from at best AY 2013-14 as it is an "anti abuse" provision. Dept’s submission that Bharti Airtel 161 TTJ 428 is “per incuriam” is not acceptable. Law laid down in Micro Ink 176 TTJ 8 (Ahd) on transfer pricing implications of corporate guarantees reiterated

   Siro Clinpharm Private Limited vs. DCIT

   (2016) TaxCorp(LJ) 10118 (ITAT-MUMBAI) · Section 92B

7. ITAT Mumbai · 15 Apr 2016
   Rule 46A of the Income Tax Rules which regulates the admission of additional evidence by the CIT(A) cannot override the principles of natural justice

   Avan Gidwani vs. ACIT

   (2016) TaxCorp(LJ) 10117 (ITAT-MUMBAI)

8. ITAT Mumbai · 15 Apr 2016
   ITAT - Confirmation of demand raised under section 201, cannot be the sole criteria for imposing penalty under section 271C.

   Aishwarya Rai Bachchan vs. ACIT

   (2016) TaxCorp(LJ) 10116 (ITAT-MUMBAI) · Sctions. 201, 271C

9. ITAT Mumbai · 13 Apr 2016
   ITAT - “Over- technical approach” of Revenue is untenable. Revenue can't deny the benefit of concessional rate of tax on the ground that assessee did not fill up the “special income” schedule in the tax return.

   Pramerica ASPF II Cyprus Holding Limited vs. DCIT

   (2016) TaxCorp(LJ) 10108 (ITAT-MUMBAI)

10. ITAT Mumbai · 13 Apr 2016
    ITAT - Claim of short term capital loss on assignment of loan advanced to its Indian subsidiary allowed. Assessee’s right to recover the sum advanced was not a capital asset u/s 2(14).

    Siemens Nixdorf Informationsysteme GmbH vs. DDIT

    (2016) TaxCorp(LJ) 10107 (ITAT-MUMBAI) · Section 2(14)

11. ITAT Mumbai · 13 Apr 2016
    S. 2(22)(d): Redemption of preference shares does not constitute "deemed dividend"

    Uday K. Pradhan vs. ITO

    (2016) TaxCorp(LJ) 10105 (ITAT-MUMBAI) · Section 2(22)(d)

12. ITAT Mumbai · 13 Apr 2016
    S. 263: As issue of whether TDS should bee u/s 194C or 194H is subject to two views, revision is not possible

    Neo Sports Broadcast Pvt Ltd vs. CIT

    (2016) TaxCorp(LJ) 10103 (ITAT-MUMBAI) · Sections 194C, 194H, 263

13. ITAT Mumbai · 13 Apr 2016
    S. 43(5), Explanation to s. 73: Where the assessee is a dealer in shares, the entire business of share trading and derivatives should be treated as a composite business and aggregated before applying Explanation to s. 73

    J.G.A. Shah Brokers P. Ltd vs. DCIT

    (2016) TaxCorp(LJ) 10102 (ITAT-MUMBAI) · Sections 43(5), 73

14. ITAT Mumbai · 13 Apr 2016
    S. 50C does not apply to transfer of leasehold rights in land

    Farid Gulmohamed vs. ITO

    (2016) TaxCorp(LJ) 10100 (ITAT-MUMBAI) · Section 50C

15. ITAT Mumbai · 12 Apr 2016
    ITAT - Payment received by a US based company from providing web hosting services to Indian entities not taxable as “Royalty”.

    Dy. Director of Income Tax (Int’l Taxation) Vs. Savvis Communication Corporation

    (2016) TaxCorp(LJ) 10096 (ITAT-MUMBAI)

16. ITAT Mumbai · 11 Apr 2016
    ITAT - Absent actual “rendition of service”, professional fees paid to common director disallowed u/s 37(1).

    Stock Traders Pvt. Ltd. vs. ACIT

    (2016) TaxCorp(LJ) 10094 (ITAT-MUMBAI)

17. ITAT Mumbai · 10 Apr 2016
    S. 68: Share application money received from an associate concern cannot be assessed as cash credits if assessee has discharged its initial onus to prove the identity, creditworthiness and genuineness of the transaction

    DCIT vs. Overseas Infrastructures

    (2016) TaxCorp(LJ) 10091 (ITAT-MUMBAI) · Section 68

18. ITAT Mumbai · 10 Apr 2016
    S. 48: Interest on borrowed money utilized for acquiring shares can be capitalized as cost of acquisition

    DCIT vs. Fritz D. Silva

    (2016) TaxCorp(LJ) 10090 (ITAT-MUMBAI) · Section 48

19. ITAT Mumbai · 08 Apr 2016
    ITAT - Interest paid by assessee foreign bank to its head office and foreign branches, not taxable as ‘interest income’.

    BNP Paribas SA vs. ADIT

    (2016) TaxCorp(LJ) 10087 (ITAT-MUMBAI)

20. ITAT Mumbai · 08 Apr 2016
    ITAT - Where technical services are not ‘made available’, payment not FTS under India-UK DTAA.

    Interroute Communications Limited vs. DDIT

    (2016) TaxCorp(LJ) 10086 (ITAT-MUMBAI)

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