ITAT

ITAT: IT Park's Lease Rentals taxable as Business Income; not House Property

Lease rental income received by Developer from Technology Park taxable as ‘Business Income’ and not income from 'House Property'

Jun 07,2011

ITAT: Portfolio manager fees deductible in computing 'capital gains'

Fees paid to portfolio manager based on NAV deductible while computing 'capital gains' on sale of securities –

Jun 07,2011

ITAT: Outsourced recruitment related services eligible for tax holiday u/s 10A

Outsourced recruitment related services carried from STP are 'customized electronic data', eligible for tax holiday u/s 10A

Jun 03,2011

ITAT: Hyundai Heavy's taxable income @ 10% of adjusted revenues

Hyundai Heavy's taxable income @ 10% of adjusted contract revenues as per Article 7(3) of Indo-Korea treaty; Method of taxation used consistently in earlier years to be followed

Jun 01,2011

ITAT: Set-off of pre AY 2006-07 derivative losses allowed against derivative income of later years

Set-off of pre AY 2006-07 speculative losses from derivatives allowed against derivative income earned in later years

May 31,2011

ITAT:  FII income taxable as Capital gain, not ‘speculative’ income

FII income taxable as ‘capital gain’ & not business income; Derivative income of FIIs cannot be treated as ‘speculative’ business income: Mumbai ITAT 

May 30,2011

ITAT: SEBI approved VC fund eligible for tax exemption

SEBI approved VC fund eligible for tax exemption u/s 10(23FB); AO not required to examine compliance with SEBI regulations during tax assessment

May 30,2011

ITAT: Export testing fees not taxable as FTS under IT Act

Fees for certification and testing of products to ‘enable export’ not taxable as FTS under sec 9 of the IT Act

May 27,2011

ITAT: Builder eligible for sec 80-IB deduction though land owned by co-operative society

Builder eligible for deduction u/s 80-IB for ‘housing project’ even though land was owned by co‑operative society –;

May 27,2011

ITAT: Tax holiday u/s 10A available without reducing data line costs

Data line costs incurred for IT development in India; Deduction u/s 10A available without reducing data line costs from export turnover

May 27,2011

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