ITAT: Earnest money receipt irrelevant for construing ‘year of transfer’, deletes capital-gains addition

Mumbai ITAT deletes capital gains addition for AY 2010-11 arising to assessee-company (engaged in manufacturing and job work of plastic molded articles) on sale of factory building with furniture and

Nov 03,2017

ITAT: Upholds TDS default on expense provisions reversed subsequently, distinguishes Bosch ruling

Bangalore ITAT rules in favour of the Revenue for AY 2012-13, holds assessee-company liable to deduct TDS in respect of provisions reversed subsequently, upholds AO’s order u/s. 201(1)/(1A); Distinguishes assessee’s

Nov 03,2017

ITAT: Bonus shares acquire character of original shares, concessional tax rate u/s 115E applicable

Hyderabad ITAT grants concessional rate of tax of 10% u/s 115E on long term capital gains (LTCG) earned on sale of bonus shares as well as shares acquired from foreign

Nov 02,2017

ITAT: Routing management charges as reimbursement through holding company cannot absolve TDS-liability

Bangalore ITAT reverses CIT(A) order, upholds disallowance u/s 40(a)(ia) citing failure of assessee to deduct tax at source u/s 194J on management charges reimbursement to its holding company; Holds that

Nov 02,2017

ITAT: Software payment, not royalty; Reliance on favourable HC-ruling permissible absent jurisdictional HC-ruling

Chennai ITAT holds that payment made by assessee-company to its parent in Italy towards software licenses purchase during AY’s 2009-10 to 2015-16 is not in the nature of royalty to

Nov 02,2017

ITAT: Deletes Rs. 768 Cr book profit addition towards revaluation reserve not created through P&L A/c

Mumbai ITAT deletes Rs. 768 Cr addition to book profits u/s 115JB for AY 2006-07 towards entire revaluation reserve created during the year in respect of land converted from fixed asset

Nov 01,2017

ITAT: Interest u/s 201(1A) not compensatory, applicable even when deductee has Nil tax liability

Visakhapatnam ITAT upholds levy of interest u/s 201(1A) for AY 2013-14 and 2014-15 in case of assessee failing to deduct tax at source u/s 194J, rejects assessee’s contention that since

Oct 27,2017

ITAT: Denies Sec. 11 exemption noting assessee-trust involved in commercial activities

Kolkata ITAT upholds AO’s order denying exemption u/s. 11 to assessee-trust, holds assessee's case hit by proviso to Sec. 2(15) as it earned interest income on money lending to small

Oct 27,2017

ITAT: Dismisses amalgamating company’s appeal absent filing amended Form 36 in new entity’s name

Bengaluru ITAT dismisses assessee’s (amalgamating company) appeal for AYs 2008-09 to 2011-12 as not maintainable, absent filing amended memo and Form 36 in the name of new entity; ITAT notes

Oct 25,2017

ITAT: Google's Adwords distribution agreement not mere sale of advertisement space; Upholds royalty taxation

Bengaluru ITAT rules in favour of Income-tax Department, ITAT ​holds that ​ payment made by Google India (‘assessee’) to Google Ireland (‘GIL’) for AYs 2007-08 to 2012-13 for granting distribution

Oct 24,2017