ITAT: Failure to initiate action against Payee absolves Payer though TDS not deducted 

Payer not 'an assessee in default' for failure to deduct tax at source u/s 195 if no action taken against payee and time limit for initiating re-assessment u/s 147 for

Mar 06,2012

ITAT:'s payment for website hosting not 'royalty'

Website hosting charges paid to Rackspace US by not 'royalty' u/s 9(vi) or India-USA DTAA; No physical access or right to operate equipment situated outside India to assessee; Payment not for use of equipment but for hosting services; Delhi

Mar 02,2012

ITAT: Transfer Pricing relief to Mastek India; UK subsidiary a 'distributor', not 'marketing front office' 

Based on FAR, TPO wrongly characterized UK AE as captive marketing office instead of 'distributor', TPO's benchmarking using 'cost plus' basis using US comparables not correct; Secondment of employees to

Mar 02,2012

ITAT: Commission for marketing support on foreign projects not taxable

Agency commission paid to non-resident for procuring contract to construct borewell outside India not taxable; Commission for marketing support not in the nature of 'consultancy' charges; No deemed accrual of

Mar 01,2012

ITAT: Sec 80HHC computation to include Sec 10B unit's turnover, depreciation allowed on non-compete

Export turnover of unit eligible for Sec 10B benefit can also be added in computing Sec 80HHC deduction; Turnover to be included in export turnover and total turnover applying principle of

Mar 01,2012

ITAT: Compensation for waiver of right to acquire shares taxable as capital gains

Compensation received for waiver of right to acquire equity shares against capital advances taxable; 'Right to acquire shares' a property right which has been relinquished by the assessee; SC ruling

Mar 01,2012

ITAT: Sec 50C not applicable to transfer of ‘tenancy rights’ 

Sec 50C applicable only to transfer of capital asset being land or building or both; Sec 50C cannot be invoked where tenancy rights or leasehold rights in land or building

Mar 01,2012

ITAT: Reinsurance brokerage not taxable as 'fees for included services' under India-UK DTAA 

Reinsurance brokerage income of non-resident not taxable as fees for technical services/ fees for included services under India-UK DTAA; Revenue's reliance on AAR ruling in Verizon Data Services rejected; AAR

Feb 27,2012

ITAT: Yearly profits of industrial park under 'percentage completion method’ eligible for Sec 80IA deduction  

Profits of notified industrial park offered to tax on year to year basis following ‘percentage completion method’ of accounting eligible for Sec 80-IA deduction; Benefit of CBDT instruction allowing Sec 80IB benefit on

Feb 27,2012

ITAT: Film production amounts to 'work', attracts TDS u/s 194C, not u/s 194J

Lumpsum payment by the producer for production of cinematographic film subject to TDS u/s 194C and not u/s 194J; Production of feature film for broadcasting and telecasting amounts to ‘work’

Feb 24,2012