Weekly DT Digest

ITAT: ‘Referral-fee’ paid by Indian-Branch of Credit Suisse to Dubai-Branch for referring clients not FTS

Mumbai ITAT holds that ‘referral fee’ paid by Credit Suisse’s (assessee and tax-resident in Switzerland) branch office in

Feb 16,2018

HC: Depreciation allowed under State enactment not to be reduced while determining WDV u/s. 43(6) pre-2010

Kerala HC reverses ITAT order for AY 2002-03 and rules in favour of assessee (engaged in manufacture and

Feb 16,2018

ITAT: Confirms addition for notional interest on security deposit received to circumvent real rent

Mumbai ITAT confirms AO’s addition of notional interest on security deposit received under ‘Leave and License Agreement’ by

Feb 16,2018

ITAT: Allows LTCG claim, holds 'agreement to sell', not agreement execution, relevant

ITAT treats capital gains on sale of non-agricultural land as 'long term' for AY 2011-12, holds that the

Feb 16,2018

ITAT: Accepts Rent Capitalisation Method for determining FMV of tenanted properties

Mumbai ITAT dismisses Revenue’s appeal against CIT(A)’s adoption of Rent Capitalisation Method contemplated in Schedule III – Part

Feb 16,2018

ITAT: Installation and commissioning fees of machinery installed outside India not FTS, Sec.195 inapplicable

Chennai ITAT holds that payment made by the assessee to non-resident Canadian company for ​ installing and commissioning

Feb 09,2018

AAR: Allows 10% concessional LTCG tax rate to non-resident, follows Delhi HC ruling in Cairn UK

AAR grants benefit of proviso to Sec. 112(1) to non-resident Applicant [Honda Motor Company Ltd (tax resident of

Feb 09,2018

HC: Quashes reassessment; Reopening reasons, a verbatim repetition of audit objections

Madras HC allows Cholamandalam’s writ, quashes re-assessment proceedings whereby AO had sought to tax Rs. 193.53 cr. on

Feb 09,2018

ITAT: Deletes addition u/s 115JB towards subsidized cost debited in accounts as per Companies Act

Mumbai ITAT deletes addition made by Revenue towards book profit computed u/s 115JB during AY 2011-12 with respect

Feb 09,2018

ITAT: Denies exemption u/s 54F due to absence of certainty of honour of sale agreement

Hyderabad ITAT disallows assessee’s claim of exemption u/s. 54F for AY 2014-15 with respect to capital gains (on

Feb 09,2018

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