ITAT Mumbai held that freight charges received from transportation of cargo through feeder vessels being part of shipping income in International Traffic is covered under Article–9(1) of the India–France Tax Treaty and hence not taxable in India.
ITAT Kolkata held that interest on income tax refund is a ‘debt claim’ payable by the Revenue in terms of Article 12(3)(a) of the India-Italy Treaty and thus such interest is not taxable and no TDS ought to be done by the AO.
ITAT Pune held that addition u/s 56(2)(vii)(b) of Income Tax Act sustainable as assessee failed to prove that the developer had agreed to share its developed area; which in turn, had come to the assessee from his father by way of nomination.
ITAT Ahmedabad held that as the additional evidence produced clearly indicates that company has put to use the windmill turbine in the year, depreciation on the same is available.
ITAT Kolkata held that service tax collected by the assessee on the amount paid to it for rendering the services is not to be included in the gross receipts for the purpose of computing the presumptive income of the assessee u/s. 44BBA of the Income Tax Act.
Supreme Court held that the valuation of shares for the purpose of gift tax needs to take into consideration the limitations and restrictions.
Karnataka High Court held that the petitioner therein Amazon, neither seller nor supplier of the product in question could not have been hauled into the proceedings of a crime. Further, without arraigning the Company as an accused, the Directors of the company cannot be hauled into the proceedings.
ITAT Delhi held that income tax exemption shall be available to the Defence Forces Personnel who have been invalidated from service on account of bodily disability while in service.
ITAT Mumbai held that activities of the appellant-society directed towards the benefit of investors and potential investors forming part of the general public which are note limited to the benefit of its members is eligible for deduction u/s 11 of the Income Tax Act, 1961
Karnataka High Court held that section 7 of the Karnataka Societies Registration Act, 1960 mandates that once a society is registered with a particular name, another society should not be registered with undesirable names.
