ITAT: Allows Sec 10A benefit on ‘Dossier’ prepared by Pharma co. ; manufacture/production test satisfied

Mumbai ITAT grants Sec. 10B benefit to assessee (a pharma company) on export profits earned by its contract manufacturing and research division (STAR unit, an approved EOU) during AY 2007-08 with respect

Jun 11,2018

ITAT: Raises alarm over illegal coercive recoveries, directs CBDT to take necessary action

Chandigarh ITAT raises an alarm over illegal coercive recoveries by Departmental officials in order to achieve their targets at the close of the financial year i.e. by 31st March of the year,

Jun 09,2018

ITAT: Allows long term capital loss claim, group company's share transfer, not sham

Mumbai ITAT allows assessee-company's claim of long term capital loss (LTCL) arising on sale of shares of group companies during AY 2005-06, allows set-off against long term capital gains arising

Jun 09,2018

ITAT: Allows loss carry-forward claim in Sec.153A return, ‘belated’ original return u/s. 139 irrelevant

Delhi ITAT allows carry forward of business loss claimed by assessee-company in the return of income filed u/s 153A (relating to assessment in search cases), although the same was denied

Jun 08,2018

ITAT: Reckons continuing partner's asset holding period from date of firm's dissolution

Mumbai ITAT rejects long term capital gains (LTCG) treatment to gains arising on sale of industrial unit (‘asset’) during AY 2005-06 which was acquired by assessee-individual on dissolution of partnership

Jun 08,2018

ITAT: Allows taxpayer to change selection of ‘Self occupied property’ at assessment stage

Mumbai ITAT allows assessee (a salaried employee) to change property declared as Self Occupied Property (‘SOP’) for the purpose of computing Income from House Property for AY 2011-12; ITAT notes

Jun 08,2018

ITAT: Anil Ambani's Rs. 50cr "consent/settlement charges" payment to SEBI a deductible business expense

Mumbai ITAT confirms CIT(A)'s Rs. 50cr relief to industrialist Anil Ambani, allows Sec. 37(1) deduction for 'consent' fees /"settlement charges" paid by Mr. Ambani w.r.t charges of alleged violation of

Jun 07,2018

ITAT: Allows Sec. 10AA benefit on trading activity, imports ‘service’ definition from SEZ rules

Kolkata ITAT allows Sec. 10AA benefit to assessee in respect of international trading, warehousing and consultancy income for AY 2009-10; ITAT acknowledges that trading activity is not expressly covered u/s 10AA, but

Jun 07,2018

ITAT: 45 key excerpts from ITAT Special bench judgment in Nokia case

Delhi ITAT Special Bench (majority view) rules in favour of Nokia Networks OY (assessee, a Finnish company), holds Nokia India Pvt. Ltd. (NIPL, Indian subsidiary) does not constitute assessee’s PE

Jun 06,2018

ITAT: Executive search fees independent of trademark license fees, rejects FTS-taxability; Cites APA

Mumbai ITAT holds that Executive Search Services fees (‘ESF’) received by assessee (a Dutch company) not taxable as FTS under Article 12 of India-Netherlands DTAA for AY 2011-12; Rejects Revenue's

Jun 06,2018