ITAT: Testing charges not FTS under India-Netherlands DTAA sans knowledge made available

Chennai ITAT holds that  testing fees paid by assessee (an Indian company)   to Netherlands company,  not FTS  under India-Netherlands DTAA since the knowledge of testing was not made available to the

Mar 29,2018

ITAT: Receipt from relative of deceased exempt u/s 56(2)(v)(d) once conditions of Indian Succession Act satisfied

Pune ITAT dismisses Revenue’s appeal, holds that amount of Rs. 1 Cr received as a gift by individual-assessee during AY 2009-10 in contemplation of death of a person (with whom

Mar 29,2018

ITAT: ‘Substantial expansion’ in hotel building constitutes investment in 'plant/machinery' for Sec. 80IC benefit

Chandigarh ITAT allows Sec. 80IC deduction to assessee-company (running a hotel in Himachal Pradesh under the Eco-tourism project) for AY 2007-08 on account of ‘substantial expansion’ in building, furniture and

Mar 29,2018

ITAT: Payment to ward off competition for short 5 years period, a revenue expense

Mumbai ITAT rules that non-compete fees paid by SOTC Travel Services Pvt  Ltd. (assessee)  during AY 2002-03 to Director/employee of another travel company for not doing similar business for 5

Mar 28,2018

ITAT: No PE for Samsung Electronics owing to employees secondment to Indian subsidiary

Delhi ITAT rejects PE-constitution in India for Samsung Electronics (a Korean company- assessee) through the seconded expatriate employees operating from the premises of Samsung India (assessee’s subsidiary) for AYs 2004-05 to 2009-10; Based

Mar 28,2018

ITAT: Upholds assessee's 'business income' plea on 'one-off' penny-stock sale, rejects STCG taxation

Delhi ITAT holds the profit arising on sale of shares (i.e. penny stock in  present case) taxable as business income for AY 2011-12, and not short term capital gains (‘STCG’)

Mar 27,2018

ITAT: Amended Sec. 140A(3) doesn’t envisage levy of penalty u/s 221 for self-assessment tax default

Mumbai  ITAT deletes penalty imposed u/s 221(1) r.w.s. 140A(3) (for failure to pay self-assessment tax [‘SA tax’] within the stipulated time) for AY 2009-10, holds that amended Sec. 140A(3) does

Mar 26,2018

ITAT: Payment for acquiring management rights of drillship, a capital expenditure eligible for depreciation

Delhi ITAT upholds CIT(A)’s order for AY 2004-05, confirms that payment of Rs.35.72 Cr made by assessee (non-resident engaged in exploration of mineral oil) for acquiring management rights of drillship

Mar 24,2018

ITAT: Confirms Sec. 69 addition, credit-worthiness of parties not proved; Cites information from US Authorities

Mumbai ITAT upholds Sec.69A addition in the hands of individual-assessee (non-resident) towards Rs. 2.85 Cr claimed to be received from US based TV production company for AY 2005-06 citing assessee's

Mar 24,2018

ITAT: Non-filing of AOP’s PAN /I-T return not basis for assessing income in member’s hands

Bangalore ITAT holds that income of AOP cannot be taxed in the hands of the assessee(one of the members of AOP) during AY 2012-13  merely due to non-filing of PAN

Mar 24,2018