ITAT: Payment to Singaporean co. for accessing database not royalty absent commercial exploitation

Delhi ITAT holds that payment made by assessee (an Indian company involved in data processing) to a Singaporean entity for database access and for downloading readily available information, not royalty

Jul 20,2017

ITAT: Grants stay extension beyond 365 days; Follows Pepsi Foods, distinguishes Ecom ruling

Bangalore ITAT grants further extension of stay of demand to Vodafone Mobile for a period of 6 months or till appeal disposal, whichever is earlier, subject to the condition that

Jul 19,2017

ITAT: Sale of land appurtenant to unsold residential house, qualifies for Sec. 54 exemption

Delhi ITAT allows deduction u/s 54 from capital gains on sale of land appurtenant to the residential house owned by assessee-individual for AY 2011-12, rejects Revenue’s stand that since the capital

Jul 19,2017

ITAT: 'Complex web of structures' lands NDTV's $150mn overseas funding in Sec. 69A net

Delhi ITAT upholds AO & DRP's order for AY 2009-10 in case of NDTV India to tax Rs 642 crores ($150 millions) raised at the level of Dutch subsidiary, followed by series of re-structuring

Jul 18,2017

ITAT: Final assessment order passed beyond Sec 144C(13) time limit not void; Follows Rain Cements

Bangalore ITAT dismisses assessee’s (partnership firm engaged in the business of manufacture and sale of herbal pharmaceutical products) preliminary ground for quashing final assessment order passed beyond the time limit

Jul 13,2017

ITAT: Special Bench- Considers contrary HC rulings, holds Sec 14A expense disallowance not applicable under MAT

Delhi ITAT Special Bench (‘SB’) rules in favour of taxpayer-assessee (a finance and investment company) for AY 2008-09, holds that expenditure incurred to earn exempt income determined u/s. 14A cannot

Jul 11,2017

ITAT: Expenses written back taxable u/s 41(1) despite earlier years income being exempt u/s 80P

Jaipur ITAT rules against a co-operative Bank (assessee, who was eligible for Sec. 80P exemption prior to subject AY 2007-08), upholds addition u/s. 41(1) with respect to transfer to Reserve

Jul 11,2017

ITAT: Grants partial benefit u/s. 54F, no relaxation for cheque returned un-encashed for technical glitches

Mumbai ITAT grants partial exemption to assessee u/s 54F to the extent of capital gains utilised for purchase / construction of new property; During AY 2011-12, assessee claimed to have

Jul 07,2017

ITAT: Loss set-off mandatory before allowing deduction for bad-debts provision u/s. 36(1)(viia)

Kolkata ITAT dismisses assessee’s (a public sector bank) appeal for AY 2004-05, holds that effect of brought forward losses u/s. 72 has to be given prior to allowing deduction towards

Jul 07,2017

ITAT: Follows co-ordinate bench's Zee Media ruling for amortizing 'content cost' to broadcasting company

Mumbai ITAT rules on allowability/ amortization of content cost (relating to inventories of film rights & TV programmes) incurred by assessee (engaged in telecasting of TV channel and providing broad

Jul 07,2017