Weekly DT Digest

ITAT: Taxability u/s 44BB only if hire-vessels fitted with equipments for use in prospecting mineral-oils

Delhi ITAT sets-aside DRP's order being silent on the crucial facts as to whether the vessels hired by

Jan 18,2019

HC: Explanation 5A to Sec. 271(1)(c) not applicable to 'other than searched person'

Bombay HC upholds ITAT order deleting penalty u/s 271(1)(c) where the assessee had not filed the ROI 'originally'

Jan 11,2019

ITAT: Agricultural lands covered by Sec. 56(2)(vii)(b) ambit, despite excluded from 'capital-asset' definition

Jaipur ITAT rules in favour of Revenue, holds agricultural lands are covered under the ambit of Sec. 56(2)(vii)(b)

Jan 11,2019

ITAT: Imports 'make available' clause into India-France DTAA; Advisory services payments, not FTS

Mumbai ITAT deletes disallowance u/s 40(a)(i) for non-deduction of tax on payment for advisory services to French company

Jan 11,2019

ITAT: Condones 300 days appeal filing delay owing to company's demerger, cites no wilful delay

Bangalore ITAT condones delay of about 300 days in filing appeal by assessee-company for AY 2013-14, holds that

Jan 11,2019

HC: Upholds re-assessment initiation, Cites legitimate nexus between Investigation Wing report and Income Escapement

Bombay HC upholds initiation of re-assessment proceedings u/s 147/148 for AY 2011-12, rules that there was a direct

Jan 11,2019

SC: Dismisses Revenue's SLP against Delhi HC allowing sec.80-IB(10) deduction to assessee

SC dismisses Revenue's SLP against Delhi HC in view of low tax effect; HC had allowed deduction u/s

Jan 04,2019

ITAT: 'Time writing charges' paid to sister-concern not FTS ; TDS u/s 195 inapplicable

Delhi ITAT rules that 'time writing charges' paid by assessee-company (engaged in midstream gas marketing operations in India)

Jan 04,2019

ITAT: Lease premium to MMRDA for acquisition of lease-hold rights in land, not liable for TDS u/s 194-I

Mumbai ITAT rules that the lease premium paid for acquiring lease rights on immovable property from MMRDA, not

Jan 04,2019

ITAT: Disallows Sec.37(1) deduction to director for advertisement expenses for exhibiting film

Chennai ITAT disallows deduction u/s. 37 towards advertisement/marketing expenses incurred by assessee (Director of Cinema-Autography) for AY 2008-09;

Dec 28,2018