ITAT Bangalore

Assessee entitled for Credit of TDS deducted in erstwhile name

I Gate Infrastructure Management Vs DCIT (ITAT Bangalore)

The credit of TDS deducted and deposited in the old name and old PAN No. and the credit of the same was not given to the assessee on account of mismatch, though entity is the same....

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No TDS liability can be imposed for notional provision reversed afterwards

State Bank of India Vs Income Tax Officer (ITAT Bangalore)

If the assessee is able to establish that it was only a notional provision which was reversed afterwards, then no TDS liability can be imposed on the assessee....

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Closely connected international transaction can be clubbed / aggregated

M/s. Kaypee Electronics & Associates Pvt. Ltd. Vs Deputy Commissioner of Income Tax (ITAT Bangalore)

These are appeals filed by the assessee-company directed against the assessment orders dated 24.12.2014, 17.12.2015 and 30.11.2016 for the assessment years 2010-11, 2011-12 and 2012-13 respectively u/s. 143(3) r.w.s. 144C of the Act by the Deputy Commissioner of Income-tax / Assistant Commissioner of Income-tax, Circle-4(1)(1), Bangalore....

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Secret Commission to business house executives is Bribe & no deduction allowable

Shri. Rampur Arvind Vs Assistant Commissioner of Income Tax (ITAT Bangaluru)

Any secret transaction/payment that is made to secure an unfair advantage, would necessarily be repugnant to law. Transaction which is not transparent, offends normal business practice, must suffer scrutiny....

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LTC to Public Bank Employees for Travelling Abroad is subject to TDS

Syndicate.Bank Vs The Assistant. Commissioner of Income-tax (ITAT Bangalore)

Provisions of section 10(5) of were introduced in order to motivate the employees and also to encourage tourism in India and, therefore, the reimbursement of LTC/LFC was exempted, but, there was no intention of the Legislature to allow the employees to travel abroad under the garb of benefit of LTC available by virtue of s.10(5) […...

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Rent for amenities if not separable from Rent is House Property Income

M/s. Sree Seshachala Builders Ltd. Vs Deputy Commissioner of Income Tax (ITAT Bangalore)

These appeals are preferred by the assessee against the order of CIT(A) on common grounds. Therefore, these appeals were heard together and are being disposed off through this consolidated order....

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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...

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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. ...

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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. ...

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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....

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