ITAT: Upholds Sec. 40(a)(i) dis-allowance in 'entirety'; Rejects reliance on 2015-circular for proportionate dis-allowance

Mumbai ITAT upholds disallowance u/s. 40(a)(i) for the entire amount of testing charges paid by assessee-company to German party without TDS during AY 2012-13; Rejects assessee’s stand that in view

Jun 19,2018

ITAT: Trade advance driven by commercial consideration, not deemed dividend; Applies 2017 CBDT-circular

Chennai ITAT confirms CIT(A) order, rejects deemed dividend addition u/s. 2(22)(e) in hands of assessee-individual during AY 2014-15, in respect of outstanding balance payable by assessee’s proprietary concern to a

Jun 19,2018

ITAT: Subsidy for modernizing textile industry, capital in nature ; Directs exclusion from book-profits u/s. 115JB

Mumbai ITAT rules that subsidy received by assessee-company (a leading textile company) during AY 2012-13 under the TUF scheme of the Government to upgrade & modernize the Indian textile industry

Jun 15,2018

ITAT: Profit from vessel-sale under tonnage-division, not IFOS; Deletes addition

Hyderabad ITAT deletes addition in respect of profit arising to assessee-company (engaged in shipping business and port operations) from sale of ships/vessels from its tonnage division during AY 2008-09; Notes

Jun 15,2018

ITAT: Deletes capital gains addition where taxpayer filed suit for cancellation of sale deed

Hyderabad ITAT deletes long term capital gain addition, holds that transfer is not complete as per Sec. 2(47) with respect to a property, in respect of which suit has been filed

Jun 15,2018

ITAT: Apportionment of R&D, ESOP cost to exempt units unwarranted; Quashes Pharma Co's reassessment

Hyderabad ITAT quashes re-assessment initiated beyond 4 yrs in case of assessee (a Pharma company) for AY 2008-2009;  Revenue initiated re-assessment on the ground of non-apportionment of R&D, ESOP expenses to exempt

Jun 15,2018

ITAT: Upholds TDS-liability on software payment applying Samsung; Rejects 'impossibility of performance' plea

Bengaluru ITAT upholds disallowance u/s 40(a)(i) for AY 2011-12 citing failure of assessee to deduct TDS on software payment, sets aside order of CIT(A) who allowed assessee's 'impossibility of performance'

Jun 15,2018

ITAT: Deletes unexplained cash credit addition as assessee not maintaining books of accounts

Delhi ITAT deletes addition u/s 68 [dealing with unexplained cash credits] in respect of cash deposited in the bank accounts of assessee-individual during AYs 2010-11 to 2012-13, despite assessee being

Jun 14,2018

ITAT: Conducting ‘training’, providing CRS access to Marriott Hotels, not FTS for Dutch affiliate

Mumbai ITAT rules that consideration received by assessee (a Dutch company, part of the Marriott group) for the services rendered to the Indian Hotels under the Training and Computer Systems

Jun 12,2018

ITAT: Assessee's tripartite agreement with land-owner & developer not 'works-contract', TDS u/s 194C inapplicable

Bangalore ITAT upholds CIT(A) order for AYs 2008-09 to 2011-12, TDS u/s. 194C is not applicable on consideration paid by ITC Employees Housing Society (assessee) pursuant to a tripartite agreement/MOU

Jun 11,2018