ITAT: Purchase of music rights – revenue expense absent recurring benefit in future

Chennai ITAT allows the deduction of expenditure towards purchase of music rights for AYs 2008-09 – 2011-12, rejects AO’s action of treating it as copyright in the nature of capital

Nov 30,2018

ITAT: No taxable ‘capital-gain’ arises upon conversion of company into LLP at ‘book-value’

Mumbai ITAT holds that no taxable capital-gain arises upon conversion of a private limited company into assessee-LLP as the assets/liabilities were transferred at book value however, holds that the conversion

Nov 30,2018

ITAT: Confirms addition u/s. 69A for cash found in locker; Grants partial relief for past savings

Delhi ITAT confirms partial addition u/s. 69A (for unexplained money) in hands of assessee (a salaried individual) for AY 2012-13 towards the cash found in locker pursuant to search &

Nov 29,2018

ITAT: Deletes unexplained investment addition on larger HUF partitioned into smaller HUFs, Sec. 171 inapplicable

Bangalore ITAT deletes addition made on account of unexplained investment in FDRs in hands of erstwhile larger HUF, being partitioned into smaller HUFs, quashes assessment u/s. 153A for AYs 1999-2000,

Nov 28,2018

ITAT: ONGC's ‘membership-cum-license’ fees payment not royalty under Indo-Canada DTAA

Delhi ITAT holds that income from annual ‘membership-cum-license’ fees earned by assessee (a Canadian co.) from ONGC (representative of assessee in India) not royalty as per India-Canada DTAA for AY’s

Nov 23,2018

ITAT: No TDS obligation on royalty towards 'bundled software' until license key activation

Ahmedabad ITAT deletes disallowance u/s 40(a)(i) for TDS non-deduction on provision for liability in respect of royalty payable on the bundled software, rules that withholding tax obligation would arise only

Nov 23,2018

ITAT: Transponder fee for program- transmission not ‘royalty’ ; Relies on G. E. Technology case (SC)

Mumbai ITAT holds that user charges paid by Zee Entertainment Enterprises Ltd (assessee) for the transponder facility offered by Intelsat Corporation, USA to enable transmission of uplinked programs to be

Nov 23,2018

ITAT: NRI’s Swiss bank deposits, non-taxable sans AO establishing nexus with India sourced income

Mumbai ITAT deletes addition u/s. 68/69 in hands of assessee-individual (a non-resident) relating to deposits found in HSBC Bank, Geneva during AY's 2006-07 and 2007-08, holds that AO erred in

Nov 22,2018

ITAT: No ‘aerial measurement’ for determining ‘agricultural land’ pre-April’14; Sec. 2(14)(iii)(b) substitution, prospective

Bangalore ITAT rules that amendment to Sec. 2(14)(iii)(b) of Income Tax Act vide Finance Act, 2013, not retrospective in operation, dismisses Revenue’s appeal; In connection with assessee-individual’s wealth tax assessment

Nov 21,2018

ITAT: Deletes Rs.598 Cr. addition; Hefty share-premium no ground to doubt transaction genuineness u/s. 68

Mumbai ITAT upholds CIT(A)’s order, deletes Sec. 68 addition on account of share premium of Rs. 598.44 cr. received by a Piramal group of company (assessee) from its sister concern

Nov 20,2018