ITAT Pune — Direct Tax

1. ITAT Pune · 09 Sep 2016
   ITAT - Since the payee has admittedly filed its return of income disclosing the impugned receipts and income earned by it embedded in the receipt has been duly offered for taxation, disallowance u/s 40(a)(ia) deleted.

   The Income Tax Officer, Ward 3 (1), Pune Versus M/s Shraddha and Prasad Joint Venture

   (2016) TaxCorp(LJ) 11030 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=51112&Category=ITAT&CategoryType=Zip

2. ITAT Pune · 24 Aug 2016
   ITAT - Since amount received from US company was primarily towards exclusive rights for marketing of specified products developed by assessee, no Sec. 10AA deduction to SEZ.

   DCIT. vs. Serum Institute of India Ltd.

   (2016) TaxCorp(LJ) 10921 (ITAT-PUNE) · Section. 10AA

3. ITAT Pune · 18 Jul 2016
   ITAT - ALV of a commercial complex remaining vacant is Nil’. Revenue's determination of gross ALV based on actual rent received for same property in earlier years not valid.

   Vikas Keshav Garud vs. ITO

   (2016) TaxCorp(LJ) 10670 (ITAT-PUNE) · Section .23(1)(c)

4. ITAT Pune · 09 Jul 2016
   ITAT - Labour charges etc. paid in cash to be disallowed in absence of documentary evidences on the part of the assessee.

   Pawar Patkar Construction Pvt. Ltd. Versus The Jt. Commissioner of Income Tax, Range -2, Nashik

   (2016) TaxCorp(LJ) 10620 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=50105&Category=ITAT&CategoryType=Zip

5. ITAT Pune · 10 Jun 2016
   ITAT - Where the amount of sub-contract payments made by the assessee though without tax deduction at source, has been included by the recipient in his return of income and the said recipient had paid taxes on the income relatable to such receipts, then there is no merit in holding the assessee to be in default for not deducting tax at source.

   Mr. Sushil Govindrao Uttarwar Versus The Asst. Commissioner of Income Tax

   (2016) TaxCorp(LJ) 10322 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=49529&Category=ITAT&CategoryType=Zip

6. ITAT Pune · 10 Jun 2016
   ITAT - Sec. 40(a)(ia) not attracted where there is short deduction of tax.

   M/s Satyam Petrochemicals Versus The Dy. Commissioner of Income Tax

   (2016) TaxCorp(LJ) 10321 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=49530&Category=ITAT&CategoryType=Zip

7. ITAT Pune · 06 Jun 2016
   ITAT - Share application money being distinct from share-capital, interest thereon would be ‘revenue’ in nature.

   S.R. Thorat Milk Products Pvt. Ltd. vs. ACIT

   (2016) TaxCorp(LJ) 10298 (ITAT-PUNE)

8. ITAT Pune · 27 May 2016
   ITAT - Compounding fees paid to RBI for regularising ECB is not covered by Explanation to Sec. 37(1) & is deductible.

   EON Hadapsar Infrastructure Pvt. Ltd. vs. ACIT

   (2016) TaxCorp(LJ) 10252 (ITAT-PUNE)

9. ITAT Pune · 19 May 2016
   ITAT - Rental income received by a multiplex upon leasing out portion of building qualifies for deduction u/s 80IB(7A).

   Sameer Rajendra Shah Vs. The Jt. Commissioner of Income Tax

   (2016) TaxCorp(LJ) 10224 (ITAT-PUNE) · Section. 80IB(7A)

10. ITAT Pune · 18 May 2016
    ITAT - Foreign exchange fluctuation loss on outstanding foreign currency loan allowable u/s 37(1) as such loss has direct nexus to saving in interest-costs.

    Cooper Corporation Pvt. Ltd. vs. DCIT

    (2016) TaxCorp(LJ) 10215 (ITAT-PUNE)

11. ITAT Pune · 29 Apr 2016
    ITAT - If the undertaking is carrying out integrated activities by employing hired labourers or by taking warehousing facilities on rent and hiring transportation facilities, the undertaking is eligible to claim deduction u/s. 80IB(11A)

    Anurag Radhesham Attal vs. ITO

    (2016) TaxCorp(LJ) 10159 (ITAT-PUNE) · Section. 80IB(11A)

12. ITAT Pune · 28 Apr 2016
    ITAT - No TDS u/s 195 on commission payment to foreign agent for obtaining purchase order from Indian subsidiary of a foreign company.

    Accurate Engineering Co. Pvt. Ltd. vs. DCIT

    (2016) TaxCorp(LJ) 10155 (ITAT-PUNE)

13. ITAT Pune · 27 Apr 2016
    ITAT - There is no condition in Art. 24 of India-Singapore DTAA that the money ought to be remitted to or received in other Contracting State 'in the relevant fiscal year', as long as the income was received though in subsequent year.

    Imerys Asia Pacific Pvt. Ltd. vs. DDIT

    (2016) TaxCorp(LJ) 10150 (ITAT-PUNE)

14. ITAT Pune · 13 Apr 2016
    S. 14A/ Rule 8D: No disallowance can be made on shares held as stock-in-trade

    Paresh Pritamlal Mehta vs. ITO

    (2016) TaxCorp(LJ) 10104 (ITAT-PUNE) · Section 14A

15. ITAT Pune · 14 Mar 2016
    ITAT - Deduction claim u/s 80(IB)(10) rejected based on strict interpretation to the term “one acre”.

    Virag Deshpanday Developers Vs. ITO

    (2016) TaxCorp(LJ) 10006 (ITAT-PUNE) · Section. 80(IB)(10)

16. ITAT Pune · 22 Feb 2016
    ITAT - In view of instructions of CBDT Circular No. 21/2015, dated 10-12-2015, revenue's appeal denied as tax effect was below monetary limit.

    Income Tax Officer, Ward 2(3), Sangli v. Pallavi Satish Patil

    (2016) TaxCorp(LJ) 9950 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=46357&Category=ITAT&CategoryType=Zip

17. ITAT Pune · 31 Jul 2015
    WIP Valuation on receipt basis forbidden in mercantile accounting

    The ACIT. vs. M/s. Ambarwadikar & Co., Engineers & Contractors

    (2016) TaxCorp(LJ) 9907 (ITAT-PUNE)

18. ITAT Pune · 28 Oct 2015
    S. 263 Valid if AO fails to enquire business exigency of donations

    Shri M.D. Wadhokar vs. CIT

    (2016) TaxCorp(LJ) 9884 (ITAT-PUNE) · Section. 263

19. ITAT Pune · 28 Oct 2015
    S. 80IB(10) Mere Common Commercial & Residential Layout?

    M/s. D.S. Kulkarni Developers Ltd. vs. ACIT

    (2016) TaxCorp(LJ) 9883 (ITAT-PUNE) · Section. 80IB(10)

20. ITAT Pune · 21 Dec 2015
    Invocation of Section 263 on mere DCIT Suggestion invalid

    Span Overseas Ltd. vs. CIT

    (2016) TaxCorp(LJ) 9881 (ITAT-PUNE) · Section 263

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