Weekly DT Digest

ITAT: Export commission to non-resident agents not taxable even post Circular 7/2009

Agra ITAT deletes disallowance u/s 40(a)(i) for export commission paid to foreign agents without deducting tax during AYs

Apr 20,2018

HC: Demand on property purchaser towards defaulter seller's tax-dues, justified; Invalidates sales transaction

Rajasthan HC dismisses assessee’s writ against Tax Recovery Officer's (TRO) order raising demand against purchaser assessee, holds sale

Apr 20,2018

ITAT: Sets aside re-opening u/s. 148 for assessing rental income in Trust’s hands

Cochin ITAT sets-aside re-assessment assessing the rental income in the hands of assessee-trust (a family trust with 14

Apr 20,2018

ITAT: Lease rental not capital expenditure despite lease period exceeding 12 years, allows deduction

Mumbai ITAT deletes disallowance of lease rentals for AY 2006-07, holds that rentals paid on leasehold land cannot

Apr 20,2018

ITAT: Deletes unaccounted cash sale receipts addition on a mining company

Bangalore ITAT deletes addition on account of unaccounted cash sale receipts (of over Rs. 40 cr.) and bogus

Apr 20,2018

ITAT: Payments to US- entity for providing support services from outside India, not taxable

Mumbai ITAT deletes disallowance u/s 40(a)(i), rules that TDS u/s. 195 not applicable  on payments made by assessee-company

Apr 20,2018

HC: Books rejection u/s 145 does not automatically lead to penalty-proceedings, absent independent findings

Allahabad HC upholds ITAT order and deletes penalty u/s 271(1)(c) levied on assessee- company (engaged in business of

Apr 14,2018

HC: Deemed dividend u/s 2(22)(e) not attracted in absence of ‘actual’ payment

Allahabad HC dismisses Revenue’s appeal, holds that the provision of Sec. 2(22)(e) can never be attracted in “absence

Apr 14,2018

HC: No re-opening u/s. 147/148 to re-consider Sec. 80-IC deduction claim subjected to 'regular assessment' enquiry

Bombay HC upholds ITAT’s order , rules that re-opening by AO for disallowing deduction u/s 80-IC on 'other

Apr 14,2018

ITAT: Allows capital gain exemption u/s 54, mere availing of housing loan not a disqualification

Kolkata ITAT grants exemption u/s 54 to assessee (an individual) for AY 2010-11, rules that mere availing of

Apr 13,2018