ITAT: Deduction under section 10B – “Export” out of India

No deduction under section 10B on “exports” where goods are delivered within India on behalf of a foreign customer

Feb 03,2011

ITAT: Allowability of Head Office expenditure u/s 44C

Mumbai ITAT- Expenditure specifically incurred for India branch – not to be considered under section 44C as HO expenditure

Jan 31,2011

ITAT: Application of section 80-AB

Section 80-AB did not limit the deductions to income under the head “business or profession”

Jan 28,2011

ITAT: Deduction on super-annuation fund contributions > 27%

Payments to super-annuation fund to meet shortfall arising upon actuarial valuation was deductible expenditure even if the total contribution exceeded 27% of salaries: Mumbai ITAT

Jan 31,2011

ITAT: Depreciation on goodwill and "Revision" by CIT

CIT cannot revise the assessment where a claim by allowed by the AO during the assessment on merits and after examination of all facts

Jan 28,2011

ITAT: No TDS on payment of bandwidth charges to foreign companies

The Bangalore bench of ITAT in the case of Infosys Technologies held that payment payments made to service providers such as AT&T or MCI Telecommunications for the use of bandwidth

Jan 27,2011

ITAT: Deduction u/s 80IA -computation - Notionally brought forward losses and depreciation should be set off from profits

The Hyderabad Bench of the Tribunal held that deduction u/s 80IA of the Income-tax Act (the Act) should to be computed after deduction of the notional brought forward losses and

Jan 24,2011

ITAT: Taxability of business centre Income

Income from owned properties let out alongwith furniture is taxable as 'Income from house property'

Jan 17,2011

ITAT: Allowability of taxes paid on overseas income

Mumbai Bench of Income-tax Appellate Tribunal in the case of DCIT V M/s Tata Sons Limited held that the taxes paid abroad in respect of income earned overseas is not

Jan 15,2011

ITAT: STP Unit - Tax holiday - 10A, 10B

STP unit not eligible for deduction under 10B

Jan 14,2011