CIT International Tax- 1 Vs Expeditors International of Washington INC (Delhi High Court); ITA 202/2022; Dated: 13/02/2025 In a significant ruling delivered on February 13, 2025, the Delhi High Court dismissed a series of appeals by the Commissioner of Income Tax (International Tax) against Expeditors International of Washington Inc., clarifying the scope of “Fees for […]
Zoho Corporation’s attempt to deduct foreign taxes as business expenses under Section 37 of the Income Tax Act was rejected by the ITAT Chennai. The tribunal upheld the disallowance, citing Section 40(a)(ii) and emphasizing the distinction between foreign tax credit under Section 90/91 and business expense deductions. This ruling clarifies the limitations on claiming foreign tax deductions and reinforces the interpretation of relevant tax provisions.
SC ruled private entities performing public functions fall under High Court and SC writ jurisdiction, but private banks like Muthoot Finance aren’t public duty entities.
Delhi High Court reviewed the disallowance of ₹7.77 crore royalty expense in AY 2016-17, addressing revenue recognition and matching concepts in income tax appeals.
ITAT Delhi clarifies tax treatment for Motricity India: No levy on notional income or closure costs. Insights on Transfer Pricing adjustments and ALP determination.
Supreme Court rules in favor of a bona fide auction-purchaser under the SARFAESI Act, emphasizing due diligence and addressing ownership disputes in loan recovery cases.
Delhi High Court rules RPM as the best method for ALP in Burberry India transactions. Rejects Revenue’s AMP-based objections, providing clarity on transfer pricing.
Karnataka HC decision on transfer pricing adjustments and Section 92BA amendments in the PCIT vs TT Steel Service India Pvt. Ltd. case.
Explore the Bombay High Court’s decision on reassessment under Section 147, balancing tax authority powers with procedural safeguards to ensure fairness and consistency.
The Gujarat High Court denied bail to Bhupendrasinh Zala over a ₹6,000 crore fraud involving investor funds, citing evidence of large-scale financial misconduct.
