ITAT: Disallows Law-firm's sponsorships towards media event ; No 'triumph' for celebrating Achievements

Delhi ITAT upholds CIT(A)'s order disallowing a portion of the conference expenses relating to amount spent on party and dinner, media event, purchase of expensive watches, jackets, T-shirts, etc. by

Dec 27,2018

ITAT: No PE trigger for UAE Co. undertaking 'grouting' masonry work in India

Delhi ITAT rules that there is no PE of assessee (a UAE co. engaged in providing solutions for subsea off-shore construction industry) on account of the grouting activities carried out

Dec 26,2018

ITAT: Service of notice on accountant unless authorized, improper; Quashes re-assessment

Ahmedabad ITAT quashes reassessment u/s. 147 for AY 2006-07 on assessees (partners in a firm) absent valid service of notice u/s. 148 r.w.s. 143(2); Observes that notice was served upon

Dec 24,2018

ITAT: UK company's telecom services to VSNL, not royalty; LO in India, not PE

Mumbai ITAT holds that assessee-company (non-resident incorporated in UK) engaged in the business of providing telecommunication services to VSNL ( now Tata Communication Ltd (TCL)) cannot be construed to have

Dec 21,2018

ITAT: Taxpayer entitled for MAT credit including surcharge & cess

Pune ITAT rules that assessee is entitled to MAT credit including surcharge and cess for AY 2012-13; Relies on Hyderabad ITAT rulings in Virtusa (India) (P) Ltd. and Richa Global

Dec 21,2018

ITAT: ROC fees for increase in authorized share capital, not deductible u/s 35D being 'capital ' in nature

Delhi ITAT disallows ROC fees paid by assessee-company for AY 2012-13 in relation to increase in authorised share capital of the company u/s 35D, rules that fees paid to ROC

Dec 21,2018

ITAT: Reckons land-stock conversion date from building plan application date, not IOD issuance date

Mumbai ITAT accepts Revenue's claim that the date of conversion of capital asset (plot of land) into stock-in-trade as envisaged u/s 45(2) shall be reckoned from the date when assessee-builder

Dec 21,2018

ITAT: Quashes reassessment post SC-order holding reassessment notice alleging PE as unsustainable

Delhi ITAT quashes reassessment order for Honda Motor Co for AYs 2005-06 and 2006-07 pursuant to SC ruling holding that impugned notice issued u/s 148 cannot be sustained once arm's

Dec 21,2018

ITAT: Expenditure on establishing new restaurants by Olive Bar, deductible despite no commercial operations

Mumbai ITAT allows deduction for pre-operative expenses (salaries and wages, travelling expenses, repairs and maintenance, staff room expenses and other general administrative expenses) incurred by Olive Bar & Kitchen P.

Dec 21,2018

ITAT: Eligible projects' income, not overall business loss, relevant for Builder's Sec. 80IB(10) claim

Pune ITAT rejects Revenue's action of invoking Sec. 80AB to deny assessee-builder's Sec. 80IB(10) claim for AY 2009-10; During relevant AY, assessee had earned profits from eligible projects and incurred

Dec 19,2018