ITAT: Receipts under R&D co-operation agreement not royalty, but reimbursement; Rejects taxability

Kolkata ITAT holds that amounts received by assessee (resident of Netherlands) from Indian affiliate under Research and Development Co-operation agreement (RDCA) and Master Support Service Agreement (MSAA) are not taxable

Oct 31,2018

ITAT: Deletes Sec 68 addition representing excess price over DCF-Valuation, 'nature & source' established

Mumbai ITAT deletes addition u/s 68 towards excess share premium received on issue of Compulsory Convertible Preference Shares (CCPS) to Mauritius VCF over their DCF (discounted cash flow) valuation for

Oct 29,2018

ITAT: Rejects couching of ‘compulsory’ capitation fee as voluntary donation ; Cancels charitable registration

Jaipur ITAT withdraws approval granted u/s 10(23C) and cancels registration u/s 12AA of Indian Medical Trust (running various educational institutions including NIMS medical college and hospital) from AY 2009-10 onwards;

Oct 26,2018

ITAT: Allows assessee’s exemption u/s 54F on capital gains arising from sale of depreciable asset

Ahmedadbad ITAT deletes disallowance of exemption u/s 54F on individual assessee, rules that capital gain earned by the assessee on the sale of depreciable assets being factory shed is eligible

Oct 26,2018

ITAT: Web hosting charges paid to Amazon Web Services, not royalty under DTAA

Pune ITAT rules that payment made by assessee (an Indian co. engaged in distribution of recharge pens of various DTH providers) towards web hosting charges to Amazon Web Services LLC,

Oct 26,2018

ITAT: Payment to Swedish co. for software up-gradation not FTS/royalty

Pune ITAT holds that fees received by the assessee (Sweden company) for up-gradation of software from its Indian counterpart during AY 2009-10 is neither royalty nor FTS under Act as

Oct 25,2018

ITAT: Directs ‘objective’ evaluation of share valuation report for examining taxability u/s 56(2)(viib)

Delhi ITAT calls for an objective evaluation of the share valuation report submitted by assessee (a private limited co.) for deciding taxability u/s. 56(2)(viib) with respect to share premium of

Oct 25,2018

ITAT: Allows dealer’s warranty provisioning claim for MIG aircraft failure, supplied by Russian co.

Pune ITAT allows assessee’s (engaged in trading in Aircraft parts and engines) claim of warranty provision on account of overhauling of MIG engines supplied to Ministry of Defence (Indian Air

Oct 24,2018

ITAT: Rejects commercial expediency plea for software sale without mark-up, cites BEPS concern

Mumbai ITAT rejects assessee’s (engaged in software development and provision of technical services related thereto) commercial expediency plea for sale of software purchased from its Chinese parent company (AE) to

Oct 23,2018

ITAT: Redemption of mutual fund units, taxable as ‘capital gains’ and not ‘business income’

Delhi ITAT dismisses revenue’s treatment of assessing profits arising from redemption of mutual funds as ‘business income’ instead of ‘capital gains’ for AY 2006-07, notes that the intention of assessee-firm

Oct 23,2018