ITAT

ITAT: Sec.12AA registration cannot be denied if books not-maintained regarding Pharmacy located inside Hospital

Ranchi ITAT allows assessee-society's appeal for AY 2018-19, rules that CIT(E) was unjustified in denying grant of registration u/s. 12AA, merely because assessee is running a medical shop/Pharmacy inside the

May 10,2019

ITAT: 'Managerial services' not covered under FTS definition under India-Netherlands DTAA

Mumbai ITAT holds that payment made by Indian subsidiary to assessee (the Netherlands company) for rendering management services is not FTS under Article 12 of India-Netherlands DTAA since 'managerial services'

May 10,2019

ITAT: AO cannot whimsically decline assessee's valuation-method, accepted in succeeding AY for Sec.56(2)(viib) purposes

Jalandhar ITAT dismisses Revenue's appeal for subject AY 2013-14, rules that AO cannot whimsically decline the DCF method of valuation (as envisaged in Sec. 56(2)(viib) read with Rule 11UA) without

May 10,2019

ITAT: Consultancy services rendered for export outside India not taxable u/s 9(1)(vii)

Ahmedabad ITAT holds that consultancy fee paid by assessee to non-resident for the professional services having rendered outside India was not taxable in India u/s 9(1)(vii) since it was in

May 10,2019

ITAT: Allows deduction of 'provision of card receivable write-back' to NBFC for MAT purposes

Mumbai ITAT allows deduction of write-back on 'provision of card receivable' to assessee- company(a NBFC engaged in financing payments through credit and debit card management) while computing book profits u/s.115JB

May 10,2019

ITAT: MAT applicable to real estate developer; Denies Sec. 80IB(10) deduction against 'book profits'

Chandigarh ITAT upholds MAT applicability to a real estate developer (assessee, engaged in development of housing project units) for AY 2008-09; Rejects assessee's stand that in view of Sec.115JB(6), business

May 10,2019

ITAT: Allows deduction to Employer Co. towards 'performance bonus' provisioning; Distinguishes from 'statutory bonus' u/s. 43B

Chennai ITAT allows deduction to assessee-company towards provisioning made for annual performance incentive bonus for eligible employees for AY 2006-07; Revenue had opined that as no actual payment was done,

May 09,2019

ITAT: Land with structures used for manufacturing purposes, not exigible to Wealth Tax

Kolkata ITAT rules that land with structures owned by a firm (in which the assessee-individual was a partner having a 1/3rd shareholding), used for manufacturing activity during subject AYs 2004-05

May 09,2019

ITAT: Expounds law on taxability of amount paid to retiring-partner on Firm reconstitution

Bangalore ITAT upholds Revenue's action in taxing the excess payment to assessee (a retiring partner) over and above the sum standing to the credit of his capital account at the

May 09,2019

ITAT: Export commission constitutes FTS as foreign agents engaged in 'quality check'

Bangalore ITAT rules that export commission paid by assessee co.(engaged in manufacturing & export of electronic components) to non-resident agents, constitutes FTS u/s 9(1)(vii), upholds Sec.40(a)(i) disallowance for TDS default

May 06,2019

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