ITAT: Quashes re-characterizing remuneration from partnership firm as ‘royalty’, but denies MAT-deduction

Ahmedabad ITAT rejects Revenue’s attempt to re-characterize remuneration received by Sun Pharmaceuticals Industries Ltd ('assessee') from a partnership firm (in which assessee holds 97.5% share) as royalty income, rejects Revenue’s

Jul 27,2017

ITAT: Allows sales promotion expenses; MCI guidelines not applicable to ayurvedic products

Patna ITAT dismisses Revenue’s appeal, allows assessee's (a dealer in Ayurvedic products) claim of sales promotion expenses for AY 2010-11; Rejects Revenue's stand that sales promotion expenditure for purchase of items like diaries, calendars

Jul 21,2017

ITAT: Allows protective assessment in block assessment proceedings u/s 158BC/BD; Follows Mahindra Finlease

Allahabad HC sets aside ITAT order and rules in favour of Revenue, holds “protective assessment can also be made in proceedings for block assessment u/s 158BC/BD”; Follows SC ruling for Lalji

Jul 21,2017

ITAT: Seconded employees' services, being technical in nature, taxable as FIS

Bangalore ITAT holds that payment received by assessee (a US company) for services provided under secondment agreement, being technical in nature, constitutes Fees for Included Services (FIS) under Article 12(4)

Jul 21,2017

ITAT: Payment to Singaporean co. for accessing database not royalty absent commercial exploitation

Delhi ITAT holds that payment made by assessee (an Indian company involved in data processing) to a Singaporean entity for database access and for downloading readily available information, not royalty

Jul 20,2017

ITAT: Grants stay extension beyond 365 days; Follows Pepsi Foods, distinguishes Ecom ruling

Bangalore ITAT grants further extension of stay of demand to Vodafone Mobile for a period of 6 months or till appeal disposal, whichever is earlier, subject to the condition that

Jul 19,2017

ITAT: Sale of land appurtenant to unsold residential house, qualifies for Sec. 54 exemption

Delhi ITAT allows deduction u/s 54 from capital gains on sale of land appurtenant to the residential house owned by assessee-individual for AY 2011-12, rejects Revenue’s stand that since the capital

Jul 19,2017

ITAT: 'Complex web of structures' lands NDTV's $150mn overseas funding in Sec. 69A net

Delhi ITAT upholds AO & DRP's order for AY 2009-10 in case of NDTV India to tax Rs 642 crores ($150 millions) raised at the level of Dutch subsidiary, followed by series of re-structuring

Jul 18,2017

ITAT: Final assessment order passed beyond Sec 144C(13) time limit not void; Follows Rain Cements

Bangalore ITAT dismisses assessee’s (partnership firm engaged in the business of manufacture and sale of herbal pharmaceutical products) preliminary ground for quashing final assessment order passed beyond the time limit

Jul 13,2017

ITAT: Special Bench- Considers contrary HC rulings, holds Sec 14A expense disallowance not applicable under MAT

Delhi ITAT Special Bench (‘SB’) rules in favour of taxpayer-assessee (a finance and investment company) for AY 2008-09, holds that expenditure incurred to earn exempt income determined u/s. 14A cannot

Jul 11,2017