ITAT: Allows interest deduction u/s 24(b) on vacant property subject to offering ‘notional’ rental-income

Mumbai ITAT holds assessee-company (engaged in letting out properties) eligible for  interest deduction u/s 24(b) subject to declaring of annual letting value (‘ALV’) of the commercial properties for AYs 2008-09

Feb 10,2017

ITAT: FTS, not taxable sans specific FTS article under India-Thai DTAA; Rejects residuary-clause applicability under Article 22

Chennai ITAT rules that payment on account of fees for technical services (‘FTS’) to Thailand based entities by assessee (an Indian co. engaged in automotive business), not FTS for AY

Feb 10,2017

ITAT: Provides retrospective relief for 2015-amendment excluding AOP profit-share from MAT

Mumbai ITAT rules in assessee-company’s favour, holds assessee’s share of income from association of persons (AOP), though credited to Profit and Loss account ('P&L a/c'), be reduced while computing book profits for

Feb 09,2017

ITAT: Denies Sec 80-IB(10) deduction to assessee-builder engaged in construction as mere ‘contractor’

Chennai ITAT denies Sec 80IB(10) deduction to assessee-builder for AY 2009-10, holds assessee was engaged in construction business as a ‘work contractor’ and not ‘developer’; Rejects assessee’s submission that restriction

Feb 09,2017

ITAT: Dismisses Revenue's bogey over Reliance's CCPS issue, deletes Rs. 1500cr unexplained cash credit addition

Mumbai ITAT rules in favour of taxpayers viz. Reliance Utilities Ltd and Reliance Port and Terminals Ltd, deletes Rs. 1,550 Cr addition towards unexplained cash credit u/s 68; AO taxed

Feb 08,2017

ITAT: Outbound call-center's IPLC & connectivity payments to US-vendors outside royalty/FTS scope

Delhi ITAT holds that payment by assessee (an Indian outbound call centre) to US entities on account of International Private Leased Circuit (IPLC) and connectivity charges for use of dedicated private

Feb 08,2017

ITAT: Grants PE relief; Cites BEPS Action 7 & supremacy of establishing contract conclusion authority

Delhi ITAT rules that the Indian group company (a subsidiary of US Company) of assessee (a Netherlands based company) forming part of NetApp group (engaged in the business of selling

Feb 08,2017

ITAT: Linklaters’ income from rendering consultancy services to India-based clients, not FTS

Mumbai ITAT holds that income earned by Linklaters (a UK based LLP engaged in providing legal/consultancy services)  in respect of services rendered in India, neither FTS under Article 13(4) of

Feb 06,2017

ITAT: Upholds PE-constitution for 24 GE Group entities, considers expats job description/appraisal reports

Delhi ITAT upholds Revenue's claim for constitution of fixed place PE as well as dependent agent PE for 24 GE group entities in a batch of 139 appeals taking GE

Jan 30,2017

ITAT: Allows Sec. 80IB/80IC deduction; Account maintenance on ERP-system providing unit-wise P/L sufficient compliance

Delhi ITAT allows selection of its foreign AEs (engaged in sales and distribution activities or secondary manufacturing) as tested party, being the least complex entity, while benchmarking assessee's international transactions; Draws

Jan 28,2017