Weekly DT Digest

HC: Upholds ITAT, exemption u/s 10(23C)(iiiab) is qua society, not qua individual institution

Bombay HC allows benefit u/s 10(23C)(iiiab) to assessee-trust having multiple education institutions under common umbrella for AY 2008-09

Nov 30,2018

HC: Upholds grossing-up for TDS purpose under India- UK DTAA

Madras HC holds that assessee is required to gross-up the amount of fees for technical services (FTS) paid

Nov 30,2018

ITAT: Purchase of music rights - revenue expense absent recurring benefit in future

Chennai ITAT allows the deduction of expenditure towards purchase of music rights for AYs 2008-09 - 2011-12, rejects

Nov 30,2018

HC: After Madras & Karnataka High Courts, Bombay HC allows 50% additional depreciation in succeeding year

Bombay HC dismisses Revenue's appeal, allows 50% of the balance additional depreciation in the succeeding AY where the asset was

Nov 30,2018

SC: Dismisses Revenue's SLP against HC allowing sec.10B deduction despite processing iron-ore outside EOU

SC dismisses Revenue's SLP against Karnataka HC ruling allowing Sec. 10B deduction to assessee on profits derived from

Nov 23,2018

SC: Dismisses SLP against HC holding recovery u/s 226(3) from assessee-debtor as arbitrary

SC dismisses Revenue's SLP against HC directing refund of tax to assessee (settlee for sand Ghats) against Income-tax

Nov 23,2018

ITAT: ONGC's 'membership-cum-license' fees payment not royalty under Indo-Canada DTAA

Delhi ITAT holds that income from annual 'membership-cum-license' fees earned by assessee (a Canadian co.) from ONGC (representative

Nov 23,2018

SC: Dismisses assessee's SLP against re-assessment upheld despite improper service of notice

SC dismisses assessee's SLP against Delhi HC ruling upholding re-assessment; HC had quashed ITAT order holding that service

Nov 23,2018

ITAT: Transponder fee for program- transmission not 'royalty' ; Relies on G. E. Technology case (SC)

Mumbai ITAT holds that user charges paid by Zee Entertainment Enterprises Ltd (assessee) for the transponder facility offered

Nov 23,2018

ITAT: Rentals from Leasing of Warehouse constitutes House-property income

Delhi ITAT dismisses assessee's appeal, holds income from leasing of warehouse assessable as house property income and not

Nov 16,2018