ITAT

ITAT: Partnership firm receiving loan not taxable for "Deemed dividend"

Loan received by Partnership firm from company not taxable as deemed dividend as firm was not a "registered shareholder" in company

Mar 03,2011

ITAT: Trial runs indicate "Set-up" of business

Trial runs carried by assessee indicate "set-up" of business; expenses incurred after set-up deductible: Mumbai ITAT

Mar 03,2011

ITAT: Sec 80IB deduction available on interest income

Sec 80IB deduction available on interest from deposit with the Bank for opening LC- Bangalore ITAT

Mar 02,2011

ITAT: ITAT - 80IB deduction not available on product developmen​t services

80IB deduction not available on product developmen​t services

Feb 25,2011

ITAT: Retrenchme​nt compensati​on for employees of closed unit deductible after merger

Retrenchment compensation to employees of closed undertaking, which was taken over during amalgamation, a deductible revenue expense: Mumbai ITAT

Feb 24,2011

ITAT: ITAT - Exemption available from capital gains on sale of three residential flats

Capital gains exemption available under sec 54 where assessee sold three flats and purchased two new residential properties: Mumbai ITAT

Feb 23,2011

ITAT: Reassessment proceedings initiated to tax “Lease Equalisation Reserve” adjustment were invalid: Mumbai ITAT

Reassessment proceedings initiated to tax “Lease Equalisation Reserve” adjustment were invalid

Feb 23,2011

ITAT: Payments for liasoning and co-ordinating services not taxable in India: Delhi ITAT

he assessee was engaged in providing services of DNA testing to the prospective Indian immigrants for USA Embassy and paid fees based on per test report to its parent company

Feb 23,2011

ITAT: Business Income & Capital gains

Dealings in shares taxable as “business income” and not as “capital gains”

Feb 23,2011

ITAT: Holiday resort membership fees taxable over membership period

Upfront membership fees received by holiday resort not taxable in the year of receipt but over the period of membership: Delhi ITAT

Feb 21,2011

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