-
ITAT - Closely linked international transactions of import of spare parts, export of spare parts, IT support services, access to customized parts catalogue and amount received for warranty consideration are inter-related transactions, which were the sourcing activities of the assessee company and have to be aggregated in order to determine the ALP
Cummins India Limited vs. ACIT
(2015) TaxCorp(LJ) 4982 (ITAT-PUNE)
-
ITAT - CIT, while granting registration or renewal, can only look at the nature of activities and is not concerned with violation of s. 11(5) or s. 13
Ashoka Education Foundation vs. CIT
(2015) TaxCorp(LJ) 4981 (ITAT-PUNE) · Sections. 12AA, 80G(5)
-
ITAT - While granting the exemption or renewal of exemption u/s 80G(5) of the Act, the role of CIT is limited to look into the nature of activities being carried on by the institution or fund and the violation if any, of the provisions of section 13 of the Act and its various subsections are to be looked into by the AO while deciding the issue of grant of deduction u/s 11 and 12
Ashoka Education Foundation Versus The Commissioner of Income Tax
(2015) TaxCorp(LJ) 4977 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39250&Category=ITAT&CategoryType=Zip
-
ITAT - Merely because subsequently another decision of the Coordinate Bench of the ITAT is noticed by the AO, that will not vests the jurisdiction in the AO to exercise his powers u/s. 147 of the Act
Magnum Forge and Machine Works Pvt. Ltd. Versus Assistant Commissioner of Income Tax
(2015) TaxCorp(LJ) 4952 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39228&Category=ITAT&CategoryType=Zip
-
ITAT - Merely because subsequently another decision of the Coordinate Bench of the ITAT is noticed by the AO, that will not vests the jurisdiction in the AO to exercise his powers u/s 147
Magnum Forge and Machine Works Pvt. Ltd. Versus Assistant Commissioner of Income Tax
(2015) TaxCorp(LJ) 4939 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39228&Category=ITAT&CategoryType=Zip
-
ITAT - Merely because subsequently another decision of the Co-ordinate Bench of the ITAT is noticed by the AO, that will not vests the jurisdiction in the AO to exercise his powers u/s 147
Magna Casting and Machine Works Pvt. Ltd. Versus Assistant Commissioner of Income Tax
(2015) TaxCorp(LJ) 4937 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39222&Category=ITAT&CategoryType=Zip
-
ITAT - Section 50C is not applicable in respect of profit on sale of development rights in land, as the same are to be applied only where there is transfer of land or building or both
The Income Tax Officer Versus Shri Balkawade Sadanand Dhanaji Kumbharwadi
(2015) TaxCorp(LJ) 4934 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39212&Category=ITAT&CategoryType=Zip
-
ITAT - Assessee is eligible for deduction under section 80-IB(10) even in relation to additional income offered in a statement under section 132(4) during search and income declared in return in response to notice under section 153A(1)(a)
Naresh T. Wadhwani v. Deputy Commissioner of Income-tax, Central Circle 1 (2), Pune
(2014) TaxCorp(LJ) 4914 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=38677&Category=ITAT&CategoryType=Zip
-
ITAT - Inland container depot operated by assessee is an 'inland port' which is one of infrastructure facility for purpose of section 80-IA
Assistant Commissioner of Income-tax v. JWC Logistics Park (P.) Ltd.
(2014) TaxCorp(LJ) 4895 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=38726&Category=ITAT&CategoryType=Zip
-
ITAT - Merely variation in the rate of interest cannot be the reasons for making the disallowance u/s 40A(2)(b)
The Asstt. Commissioner of Income Tax Versus M/s. HH. Patel & Company
(2014) TaxCorp(LJ) 4863 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39134&Category=ITAT&CategoryType=Zip
-
ITAT - Where assessee company granted loan to its AE located abroad, domestic bank rate was not a sound basis and in such a case, internationally accepted rate of LIBOR was to be adopted as benchmark in order to compute arm's length price of interest rate in respect of impugned transactions
Tooltech Global Engineering (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-7, Pune
(2014) TaxCorp(LJ) 4758 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7641&Category=INTLDecisions&CategoryType=Zip
-
ITAT - On the basis of protocol to India-Sweden DTAA, a Swedish Company can claim the benefit of 'make available' condition in Indo-Portugal treaty to claim tax-free status for FTS received from its Indian Subsidiaries
Sandvik AB v. Deputy Director of Income-tax, (International Taxation)-II, Pune
(2014) TaxCorp(LJ) 4755 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7640&Category=INTLDecisions&CategoryType=Zip
-
ITAT - Since premium was paid on share buy-back from two shareholder groups to protect assessee's business, the same is held to be revenue in nature
DCIT vs. Bramha Corp. Hotels & Resorts Ltd
(2014) TaxCorp(LJ) 4749 (ITAT-PUNE)
-
ITAT - Swedish-company could claim Fee for Technical Services ('FTS') received from its Indian subsidiaries as tax-exempt if 'make available' condition was not satisfied, as India-Sweden DTAA contained Most Favoured Nation clause ('MFN' clause) as per which make available clause in India-Portugese could be imported into the India-Sweden DTAA
Sandvik AB vs DIT
(2014) TaxCorp(LJ) 4747 (ITAT-PUNE)
-
Premium paid to buyback shares of recalcitrant shareholders is to facilitate smooth running of business and is allowable as revenue business expenditure
DCIT vs. Bramha Corp. Hotels & Resorts Ltd
(2014) TaxCorp(LJ) 4665 (ITAT-PUNE)
-
ITAT - Despite filing of returns beyond prescribed due date u/s 139(1), Sec 80IB(10) deduction available
Arun Bhagwat Patil vs. ITO
(2014) TaxCorp(LJ) 4589 (ITAT-PUNE) · Section. 80IB(10)
-
ITAT - Payment for acquisition of Plant know-how for erection of plant and machinery, not 'royalty', and not taxable in India
Finoram Sheets Ltd. vs. ITO
(2014) TaxCorp(LJ) 4520 (ITAT-PUNE)
-
Interest on NPAs is not taxable. As there is a conflict on the point between Vasisth Chay Vyapar Ltd 330 ITR 440 (Del) and Sakthi Finance Ltd., (2013) 31 taxmann.com 305 (Mad), the view in favour of the assessee has to be followed
ACIT. vs. Solapur Siddheshwar Sahakari Bank Ltd.
(2014) TaxCorp(LJ) 4309 (ITAT-PUNE)
-
S. 80-IB(10)(c): Area of projected terrace (open to sky) is not liable to be included within the meaning of expression “built-up area”
Naresh T. Wadhwani vs. DCIT
(2014) TaxCorp(LJ) 4305 (ITAT-PUNE) · Section. 80-IB(10)(c)
-
Though approval of Director of STPI to EOU is sufficient for s. 10A, it is not so for s. 10B. For s. 10B, the approval of the Board appointed under I(D&R) Act is necessary. Claim for s. 10A can be made before CIT(A)
Clarion Technologies Pvt. Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4291 (ITAT-PUNE) · Section. 10A, 10B
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.