ITAT Bangalore

S. 10A Deduct Foreign currency Expenses from Export /Total Turnover

M/s. Sunquest Information Systems India Pvt. Ltd. Vs JCIT (OSD) (ITAT Bangalore)

Insurance & Travelling Expenses incurred in Foreign Currency needs to be Excluded from both Export and Total Turnover for the purpose of section 10A Calculations...

Read More

Exclusion of comparables based on Turnover and size filter is valid

M/s. Logitech Engineering & Design India P. Ltd, (erstwhile M/s. Lifesize Communication P. Ltd) Vs. Deputy Commissioner of Income-tax (ITAT Bengaluru)

Bombay High Court decision upheld the DRP order in excluding 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size. Following it , we uphold the DRP order in excluding the above 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size. ...

Read More

Section 68: Identity and credit worthiness of creditors not establishes with mere Submission of Name and address not sufficient

M/s. Malnad Finance Corporation (R) Vs Asst. Commissioner of Income Tax (ITAT Bangalore)

In the present case, the assessee has failed to carry out his obligations and hence, the burden cannot be shifted to the revenue to find out from the creditors about their identity and credit worthiness after receiving the names and addresses of the creditors. ...

Read More

S. 254 Rectification application liable to be set aside if case relied not brought to bench’s attention during hearing

M/s Triad Resorts & Hotels P.Ltd. and Others (ITAT Bangalore)

ITAT held that application under the provisions of sec.254(2) seeking rectification of order passed by tribunal is maintainable only in cases where it was established that specific attention of the bench was drawn to a particular decision and the decision was specifically relied upon but not considered by the Tribunal....

Read More

Nature of TDS Liability in Respect of Salaried Doctors, in- House & Visiting Consultants in a Nursing Home

Hosmat Hospital (P.) Ltd. vs. ACIT (ITAT Bangalore)

ITAT, Bangalore held that, in the instant case, since consultant doctors were paid fixed remuneration and the working conditions were under supervision and control of the hospital authorities, services were rendered by the doctors, in the nature of employee. Hence, payments were subject to TDS under section 192 of the Act....

Read More

TP – Notional Interest on Excess Credit Period/ Delayed Payment

Tally Solutions Pvt. Ltd. Vs. ACIT (ITAT Bangalore)

The treatment of extended credit period to Associated Enterprises(AEs) as an international transaction and making adjustment of notional interest on the same has always been bone of contention between the assessee and department. ...

Read More

TP- Unrelated Internal comparable supersede External comparable

M/s. Intergarden (India) P. Ltd. Vs ACIT (ITAT Bangalore)

ITAT held that Revenue has not disputed the fact that effective rate of interest paid by assessee in India was 6.62% on loans whereas Interest paid by assessee on loans taken from AE abroad was 5%. This was below the rate of interest assessee was paying on loans taken within India....

Read More

Expense out of earmarked fund for member’s welfare, not deductible

ACIT Vs M/s Tumkur Veerashiva Co-operative Bank Ltd. (ITAT Bangalore)

ITAT Bangalore held in the case of ACIT vs. M/s Tumkur Veerashiva Co-operative Bank Ltd. that from the facts, it is clearly shows that the amount spent out of members benevolent fund and members death relief fund are spent for the welfare of the members....

Read More

No TP adjustment for higher AMP expenses w.r.t. comparable entities

M/s Essilor India Pvt. Ltd. Vs DCIT (ITAT Bangalore)

No TP adjustment can be made by deducing from the difference between AMP expenditure incurred by assessee and AMP expenditure of comparable entity, if there is no explicit arrangement between the assessee and its foreign AE for incurring such expenditure....

Read More

Sec.206AA–Higher TDS not valid where benefit of DTAA available

M/s. Wipro Ltd. Vs ITO (ITAT Bangalore)

n this case, it was held that it is not a simple case of deduction of tax at source by applying the rate only as per the provisions of Act, when the benefit of DTAA is available to the recipient. Therefore, the question of applying the rate of 20% as provided u/s 206AA is an issue which requires a long drawn reasoning and finding. ...

Read More
Page 1 of 1312345...10...Last »

Browse All Categories

CA, CS, CMA (3,305)
Company Law (3,192)
Custom Duty (6,362)
DGFT (3,312)
Excise Duty (3,977)
Fema / RBI (3,107)
Finance (3,271)
Income Tax (24,127)
SEBI (2,641)
Service Tax (3,245)

Search Posts by Date

March 2017
M T W T F S S
« Feb    
 12345
6789101112
13141516171819
20212223242526
2728293031