ITAT

ITAT: No TDS on wheeling and transmission charges, Follows Jaipur ITAT ruling

No TDS u/s 194C or 194J on wheeling and transmission charges paid to State Electricity Transmission Co; Charges not for 'carrying out work' or FTS; Such payment is made pursuant

Jul 19,2012

ITAT: Jaipur ITAT follows BCCI ruling; Upholds examination of RCA's revised objects

Rajasthan Cricket Association cannot claim automatic extension of registration u/s 12A as charitable institute, if the object clause is changed; Assessee must communicate changes in object clause to the Revenue

Jul 18,2012

ITAT: Quality testing services for imported fabrics not 'technical, managerial or consultancy'

No technical skills required for checking quality of imported fabrics based on physical examination; Payment to non-resident for checking fabric quality & ensuring timely supply not taxable as FTS u/s

Jul 16,2012

ITAT: Employee relocation expenses reimbursed to foreign company not 'income' 

Payments to foreign entity towards reimbursement of employee relocation expenses & employee awards not subject to TDS u/s 195; Reimbursements without any element of income not liable to TDS; Special

Jul 16,2012

ITAT: Allows agri income exemption to hybrid seed cultivation, Distinguishes Kar HC 

Income from cultivation of hybrid seeds not taxable as business income, but is exempt as agricultural income; Farmers who leased lands to the assessee-company and carried out actual cultivation were

Jul 16,2012

ITAT: Share transfer to parent company on book value not sham, McDowell inapplicable

Group restructuring involving share transfer 'at cost' not a make-believe arrangement or colourable device; For computing capital gain on share transfer, purchase price as per book value cannot be substituted

Jul 13,2012

ITAT: Split wide open on Goodwill claim, Chennai bench allows depreciation

Assessee entitled to depreciation on value of goodwill; Kerala HC in Raveendran Pillai and Delhi HC in Hindustan Coca Cola followed; Though earlier ITAT ruling had rejected such claim, favourable

Jul 13,2012

ITAT: BIFR directions must be honoured to avoid legal disharmony

‘BIFR orders giving ‘directions’ for relief binding on AO and to be given effect immediately; BIFR orders ‘recommending’ relief also binding, when IT Department is given opportunity during BIFR proceedings;

Jul 12,2012

ITAT: Charitable trust eligible for Sec 80-IB deduction on construction profits 

Profits from construction project earned by a charitable trust eligible for Sec 80IB deduction; After 2009, income from construction business carried on by assessee trust cannot be considered as income

Jul 12,2012

ITAT: Capitation fees of trust used in educational activities not taxable 

‘Capitation fees’ received by assessee trust carrying on educational activities, not 'income'; Capitation fees applied for creating infrastructure facilities to run educational institutions; Colour attached to capitation receipts does not

Jul 12,2012

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