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ITAT - As per CBDT Circular No. 14/2014, transfer or re-deployment of technical manpower from existing units to new SEZ units shall not be construed as splitting up or reconstruction of the existing business. Section 10A deduction allowable to assessee (an IT company) in respect of its new units.
iGATE Computer Systems Ltd. Vs. The Addl. Commissioner of Income Tax
(2015) TaxCorp(LJ) 6837 (ITAT-PUNE) · Section. 10A
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ITAT - ALP of 'Soyabean' and 'Sunflower' oil is to be determined on basis of rate quoted in Commodity Exchanges i.e., oil, was a commodity recognized for trading in Commodities Exchanges, price publications of CBOT and Oil World were relevant material while testing international transactions of import of oil from AEs in course of application of CUP method
Cargill Foods India Ltd. v. Deputy Commissioner of Income-tax, Circle-4, Pune
(2015) TaxCorp(LJ) 6833 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40975&Category=ITAT&CategoryType=Zip
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ITAT - Where view taken by AO being one of possible views, could not be regarded as erroneous and prejudicial to interest of revenue, no revision u/s 263.
Mudhol Land Holding Company (P.) Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 6826 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40939&Category=ITAT&CategoryType=Zip
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ITAT (TM) - No exemption u/s 11 to assessee (an educational institution) for purchasing car in the name of trustee. In the event of Sec 13(1)(d) violation, only income/investment made in violation of Sec 11(5) shall be liable to tax.
Audyogik Shikshan Mandal vs. ITO
(2015) TaxCorp(LJ) 6801 (ITAT-PUNE) · Section 13(2)(b)
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ITAT - Since co-operative bank as has failed to create special reserve in audited books out of eligible profits, no sec. 36(1)(viii) deduction.
Shree Sharada Sahakari Bank Ltd. v. Income-tax Officer, Ward 6 (2), Pune
(2015) TaxCorp(LJ) 6781 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40835&Category=ITAT&CategoryType=Zip
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ITAT - Section 11 relief to hospital cannot be denied merely because it did not provide concessional treatment to indigent/poor patients
Income-tax Officer, Ward -3, Ahmednagar v. Noble Medical Foundation & Research Centre
(2015) TaxCorp(LJ) 6750 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40423&Category=ITAT&CategoryType=Zip
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ITAT - Assessee engaged in merely providing software services was not functionally comparable to a company engaged in research and development activities which included embedded software solutions.
Principal Global Services (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-1 (2), Pune
(2015) TaxCorp(LJ) 6730 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8047&Category=INTLDecisions&CategoryType=Zip
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ITAT - Where assessees (a farmer owning land) were to share profits/losses from development (with MTDC for land development) activity jointly in proportion to their landholding, capital gains will not be taxable in the year of signing of development agreement. Capital gains shall be chargeable over the years when MTDC started receiving the sale proceeds from the customers.
Vipul Krishna Ashtekar vs. DCIT
(2015) TaxCorp(LJ) 6553 (ITAT-PUNE)
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ITAT - TPO was not correct in changing TP method in subsequent year where circumstances remained unchanged
John Deere India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-11 (1), Pune
(2015) TaxCorp(LJ) 6538 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39939&Category=ITAT&CategoryType=Zip
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ITAT - Sales tax benefit is to be taxed as business receipts of the assessee, on which the assessee is not entitled to deduction under section 80IA
M/s. Patankar Wind Farm Pvt. Ltd. Versus The Dy. Commissioner of Income Tax
(2015) TaxCorp(LJ) 6448 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40515&Category=ITAT&CategoryType=Zip
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ITAT - Entrance fee paid for membership of business club ("The Chambers" of Taj Group) is revenue expenditure. When two divergent views are available on the same issue, the view favourable to the assessee has to be followed
Intervalve (India) Ltd. vs. ACIT
(2015) TaxCorp(LJ) 6438 (ITAT-PUNE)
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ITAT - Merely because the assessee had made a claim under a wrong section instead of the correct section, the same, should not be a ground to deny the benefit of deduction otherwise allowable to the assessee.
ITO, Ward-1(3), Nashik Versus Shri Anirudha Ashok Jajoo, Nashik
(2015) TaxCorp(LJ) 6428 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40426&Category=ITAT&CategoryType=Zip
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ITAT - Section 32(1)(ii) deduction was to be allowed on intangible assets such as customer base, list of material suppliers, process know-how, technical manpower for purpose of its two wheeler braking business, on acquisition of business by assessee.
Brembo Brake India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-1 (1), Pune
(2015) TaxCorp(LJ) 6281 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39923&Category=ITAT&CategoryType=Zip
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ITAT - Relief which is otherwise due to the assessee should not be denied just because he had inadvertently made claim under wrong provision. Section 54 exemption available even though made u/s 54D.
Income-tax Officer, Ward- 1 (3), Nashik v. Anirudha Ashok Jajoo
(2015) TaxCorp(LJ) 6277 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40426&Category=ITAT&CategoryType=Zip
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ITAT - Where non-resident does not have any permanent establishment, legal & professional fees received not taxable in India. No TDS liability u/s 195
Kirloskar Proprietary Ltd. Versus The Deputy Commissioner of Income Tax, Circle-11(1), Pune
(2015) TaxCorp(LJ) 6264 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7803&Category=INTLDecisions&CategoryType=Zip
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ITAT - Internal TNM Method was liable to be applied in order to compute ALP for international transaction from AE as well as third parties, if AE segment and third party segment being functionally comparable.
Eaton Fluid Power Ltd. v. Assistant Commissioner of Income-tax, Circle-8, Pune
(2015) TaxCorp(LJ) 6256 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40412&Category=ITAT&CategoryType=Zip
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ITAT - CIT(Administration) authorizing Revenue’s appeal against its own order in capacity as CIT(A), not ‘judicial- propriety’ violation
ITO. Vs. Paras Builders
(2015) TaxCorp(LJ) 6222 (ITAT-PUNE)
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ITAT - Goodwill is an asset under Explanation 3(b) to section 32(1) and, thus, it is eligible for depreciation. CIT v. SMIFS Securities Ltd. [2012] 348 ITR 302 (SC) Followed.
Assistant Commissioner of Income-tax, Circle-9, Pune v. GKN Sinter Metal (P.) Ltd.
(2015) TaxCorp(LJ) 6118 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=34972&Category=ITAT&CategoryType=Zip
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ITAT - Transfer pricing adjustment should be restricted only for international transaction with AE and not with unrelated parties.
Honeywell Automation India Ltd. v. Deputy Commissioner of Income-tax, Circle 7, Pune
(2015) TaxCorp(LJ) 6107 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7932&Category=INTLDecisions&CategoryType=Zip
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ITAT - Survey fee paid to non-residence surveyors was not FTS as they didn't make available technical know-how to assessee-insurer, not taxable under section 9(1)(vii).
Deputy Director of Income-tax, (International Taxation-I), Pune v. Bajaj Allianz General Insurance Co. Ltd.
(2015) TaxCorp(LJ) 5991 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40209&Category=ITAT&CategoryType=Zip
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