ITAT: Subscription fees for online database, neither FTS nor Royalty under India-Germany DTAA

Mumbai ITAT holds that subscription charges received by assessee(a German company) from its customers in India for online database access is neither royalty nor FTS under Article 12 of the

Apr 24,2019

ITAT: Rejects AO's adoption of cost of acquisition u/s 49(1) for MAT purposes

Mumbai ITAT deletes addition made by AO to the book profit by adopting cost of acquisition of shares sold as per Sec.49(1), holds that the book profit as certified by

Apr 24,2019

ITAT: Consideration for technical assistance rendered by member to its consortium, not royalty

Delhi ITAT holds that consideration received by assessee (a Russian Company) for rendering technical assistance to the consortium (in which it was one of the members) was assessable as business

Apr 23,2019

ITAT: Unrealised forex gains taxability on forward contracts can't be deferred till settlement

Mumbai ITAT upholds CIT's order u/s. 263, rejects Tata Consultancy Services' (TCS, assessee) claim of deduction for mark to market gains on open forward foreign exchange contracts for AY 2011-12;

Apr 23,2019

ITAT: No 'multiple' counting of employees in a single day while construing service PE threshold

Mumbai ITAT rules that Linklaters (assessee, a UK based law firm) has no PE in India under Article 5(2)(k) of the India - UK DTAA during AY 2002-03, thus holds

Apr 22,2019

ITAT: Foreign LLP not “eligible assessee” u/s 144C(15)(b); Quashes draft, final assessment orders

Mumbai ITAT allows assessee's additional ground, finds that assessee [limited liability partnership incorporated in Germany] cannot be termed as an “eligible assessee” u/s 144C(15)(b) and therefore quashes draft & final

Apr 18,2019

ITAT: Assessee-firm's unregistered, non-dated resolution regarding partner's remuneration for Sec. 40(b) purposes, an 'afterthought'

Amritsar ITAT denies assessee-firm's claim of remuneration paid to its partners u/s. 40(b) during AY 2014-15; Notes that the original partnership deed was silent on partners remuneration, further notes that

Apr 18,2019

ITAT: DRP route inapplicable if no variation in returned income, tax-rate variation irrelevant

Mumbai ITAT quashes AO's assessment order invoking Sec.144C during AY 2014-15 absent any variation in the income or loss returned, which is prejudicial to the interests of the assessee; The

Apr 18,2019

ITAT: Gives effect to Third Member order; Money distributed to retiring partner, not 'transfer'

Mumbai ITAT division bench gives effect to Third Member order and rules in favour of assessee (a partnership firm) for AYs 2006-07 & 2007-08; Holds that distribution of money equivalent

Apr 18,2019

ITAT: No denial of housing project related deduction u/s. 80IB(10) for non-receipt of completion certificate

Pune ITAT upholds CIT(A)'s order allowing pro-rata deduction u/s 80-IB(10) to the assessee-developer for completed units, holds that merely because completion certificate was not received within 5 years stipulated u/s

Apr 18,2019