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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)
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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)
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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)
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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)
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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
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Grant given to safeguard the interests of depositors, though used for meeting SLR requirements of RBI relatable to its banking activity, is still capital in nature
The Nanded District Central Co-op. Bank Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4286 (ITAT-PUNE)
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Interest on NPAs, even if credited to the Profit & loss account, is not chargeable to tax
The Solapur District Central Co-op. Bank Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4230 (ITAT-PUNE)
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Change of method of accounting to value the stock of its investments / securities at lower of cost or market value is valid.
ACIT vs. Bank of Maharashtra
(2014) TaxCorp(LJ) 4215 (ITAT-PUNE) · Sections. 145, 28
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Whether when operating margin trends of the said concern over the five financial years suggests a wide fluctuation, the same can be excluded from the list of comparables
CUMMINS TURBO TECHNOLOGIES LTD. Vs. DDIT
(2014) TaxCorp(LJ) 4203 (ITAT-PUNE) · Income Tax - Section 92CA
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Whether as per the provisions of the section 36(1)(viia), the deduction allowable is to be restricted to the actual amount of Provision made in the books of account for bad and doubtful debts
ADDL. CIT. VS. BANK OF MAHARASHTRA
(2014) TaxCorp(LJ) 4150 (ITAT-PUNE) · Income Tax - Sections 10(23G), 28, 36(1)(vii), 37(1), 80G, 115JA, 143(3)
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Whether depreciation is allowable with respect to the block of assets and not the individual assets
ACIT. Vs. SOUTH ASIA TYRES LTD.
(2014) TaxCorp(LJ) 4148 (ITAT-PUNE) · Income Tax - Sections 2(11), 32, 43, 143(3)
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Whereas, the assessee claimed that the said amount was not taxable in the hands of the assessee company in India as the marketing services for which the said amount was given did not make available (technical knowledge, skill, know-how etc.) within the meaning of the Double Taxation Avoidance Agreement (DTAA) between India and the USA.
KANBAY INCORPORATED. Vs. DDIT
(2014) TaxCorp(LJ) 4145 (ITAT-PUNE) · Income Tax - Sections 5(2), 9, 143(3), 144C(13)
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Whether AO could refer a matter of international transaction to the TPO without arriving at a conclusion of objective necessity for referring such matter u/s 92CA(1)
NIHILENT TECHNOLOGIES PVT LTD. Vs. DCIT
(2014) TaxCorp(LJ) 4144 (ITAT-PUNE) · Income tax - Sections 92C, 92CA
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Deduction U/s. 80-IB(10) available on additional income offered u/s 132(4) in return filed u/s 153A
Malpani Estates Vs. ACIT
(2014) TaxCorp(LJ) 4091 (ITAT-PUNE) · Sections. 80-IB(10), 132(4), 153A
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Whether assessee could claim deduction for payments made towards employees contribution of ESIC and PF which was however not paid within the 'due date'.
DEPUTY COMMISSIONER OF INCOME TAX Vs ENTRACO POWERS SYSTEMS PVT LTD.
(2014) TaxCorp(LJ) 4040 (ITAT-PUNE) · Income Tax - Sections 40(a), 40A(2), 133A, 139(1), 194C, 201(1)
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Whether the assessee can claim award of cost against judicial/quasi judicial orders
PARKAR MEDICAL FOUNDATION Vs. DCIT
(2014) TaxCorp(LJ) 3991 (ITAT-PUNE) · Income Tax - Sections 11, 13(1)(c), 143(1), 143(3), 148, 254(2B), 263
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Whether when the AO has accepted the rectified PAN furnished by the assessee even then diallowance u/s 40(a)(ia) is warranted
VIJAY SIDDHRAJ BASHTE Vs. ADDL. CIT
(2014) TaxCorp(LJ) 3975 (ITAT-PUNE) · Income Tax - Sections 40(a)(ia), 104C, 194C, 206AA(6)
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Whether residential units exceeding the prescribed limit of 1500 sq.ft u/s 80IB(10) were eligible for benefits of exemption under such section
G K DEVELOPERS Vs. DEPUTY COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3689 (ITAT-PUNE) · Income Tax - Sections 80IB(10), 80IB(14)(a), 143(3), 263
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S. 254(2B): Even though action of the CIT in canceling registration u/s 12AA(3) is illegal, costs cannot be awarded as the said action is in discharge of duty & not mala fide
Parkar Medical Foundation vs. DCIT
(2014) TaxCorp(LJ) 3639 (ITAT-PUNE) · Sections. 254(2B), 12AA(3)
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Health Insurance - Third Party Administrator - Smart card - Electronic chip.
ACIT Vs M/s MD INDIA HEALTHCARE SERVICES (TPA) PVT LTD.
(2014) TaxCorp(LJ) 3500 (ITAT-PUNE)
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