ITAT Pune — Direct Tax

1. 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

2. 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

3. 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)

4. 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)

5. 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)

6. 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)

7. 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)

8. 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)

9. 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)

10. 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

11. 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)

12. 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

13. 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)

14. 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

15. 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)

16. 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

17. ITAT Pune · 07 Dec 2015
    ITAT - Even if the expenditure is of enduring benefit, but having not been incurred in the capital field, is to be allowed as deduction.

    DCIT vs. Autoline Industries Ltd.

    (2015) TaxCorp(LJ) 9609 (ITAT-PUNE)

18. ITAT Pune · 04 Dec 2015
    ITAT - Where the directors had given services and in recognition thereof, there was proposal to pay commission to the said directors, then the same could not be questioned merely on the basis of speculation by the Revenue that the same was to avoid payment of dividend tax.

    Arihantam Infraprojects Pvt Ltd vs JCIT

    (2015) TaxCorp(LJ) 9579 (ITAT-PUNE)

19. ITAT Pune · 27 Nov 2015
    S. 43B/ 145A: Taxes collected by the assessee, which remain unpaid, have to be added to the income even if the same are not debited to the P&L A/c and claimed as a deduction

    Munaf Ibrahim Memon vs. ITO

    (2015) TaxCorp(LJ) 9550 (ITAT-PUNE) · Sections 43B, 145A

20. ITAT Pune · 18 Nov 2015
    ITAT - Consideration received by an individual for relinquishing his rights over trademark jointly owned with assignee by way of family arrangement is a non-taxable capital receipt.

    D.S. Thakur vs. ITO

    (2015) TaxCorp(LJ) 9433 (ITAT-PUNE)

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