ITAT

ITAT: Sec 44BB presumtive taxation not restricted to direct machinery use, Allows taxpayer's claim

Mumbai ITAT holds that income from hiring of vessels (i.e. tug boat) earned by assessee (a UAE company) is eligible for  taxation on presumptive  basis u/s 44BB (special provision for computing

Jan 24,2017

ITAT: ‘Agreement to sell’ date irrelevant for stamp-duty valuation u/s 50C absent consideration payment

Rajkot ITAT upholds Revenue’s action of invoking Sec 50C (relating to substitution of sale consideration with stamp duty valuation) for AY 2011-12 on sale of land by assessee-individual; Assessee had

Jan 23,2017

ITAT: NR-payments for IPS not taxable as stay in India less than 183 days

Mumbai ITAT deletes addition u/s 40(a)(i) for TDS default on payments made by assessee-company to NR-individuals for providing engineering services for AY 2009-10, TDS u/s 195 inapplicable; Notes that services

Jan 20,2017

ITAT: Extends stay for Google India for AY 2013-14; Appeal delay not attributable to assessee

ITAT grants stay to Google India Pvt. Ltd. (‘assessee’) for AY 2013-14 beyond a period of 365 days, initially stay was granted by ITAT twice for a  period of 6

Jan 19,2017

ITAT: Quashes revision proceedings u/s 263 in IBM case involving over Rs. 1000 cr. additions

Bangalore ITAT quashes Sec 263 proceedings in case of IBM India P. Ltd. for AY 2007-08, in the second round of litigation; Invoking the revisionary jurisdiction u/s 263, CIT(Large Taxpayer

Jan 17,2017

ITAT: Denies new workmen deduction u/s 80JJAA, prefers ‘literal’ interpretation over ‘purposive’ construction

Bangalore ITAT denies Sec 80JJAA deduction to assessee-company (engaged in manufacture & export of computer software) for AYs 2001-02 & 2002-03, as the new workmen employed by assessee fails the

Jan 17,2017

ITAT: CIT cannot invoke revisionary powers u/s 263 to initiate penalty after AO completed assessment

Ahmedabad ITAT quashes CIT’s revision order u/s 263 directing AO to initiate penalty proceedings u/s 271(1)(c) in respect of assessee’s erroneous deduction claim u/s 10B for AY 2010-11; ITAT rules

Jan 16,2017

ITAT: Upholds Sec 14A disallowance; Substantial Rule 8D compliance sufficient, AO’s non-recording of satisfaction irrelevant

Delhi ITAT upholds Sec 14A disallowance despite requisite satisfaction not recorded by AO before making the disallowance; During relevant AY 2009-10, assessee did not make any ‘suo-motu’ disallowance u/s 14A,

Jan 16,2017

ITAT: Pharma co. 'freebies' to doctors allowable deduction, not violative of MCI guidelines

Mumbai ITAT allows deduction u/s 37 to a Pharma co. (‘assessee’) in respect of freebies given to doctors during AY 2010-11, rejects Revenue’s stand that since payments were made in

Jan 13,2017

ITAT: Confirms Sec. 14A disallowance for assessee-dealer in shares, Rejects no expense plea

Chennai ITAT dismisses assessee’s (a dealer in shares and securities)appeal for AY 2009-10, upholds disallowance made u/s 14A disallowance read with Rule 8D; On noting that no disallowance was made

Jan 13,2017

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