All ITAT

Section 35D benefit once granted in initial year cannot be denied in subsequent years

DCIT Vs Asian Hotels East Limited (ITAT Kolkata)

Once the claim under section 35D of the Act was accepted in the initial year i.e. AY 1995-96, then the clock had started running in favour of the assessee which was to continue for the entire period of ten years and the benefit once granted in the initial year could not be denied in the subsequent years....

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No taxable gain on Land Purchased & Sold as Agricultural land

J.K. Bros Constrafin Ltd Vs ITO (ITAT Hyderabad)

The issue under consideration is whether the land purchased by the assessee as agricultural land & whether the income from such sale is business income or capital gains?...

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Sale of Shrink-wrap software Not Taxable as Royalty in India

Dassault Systems Solid Works Corporation Vs DCIT (ITAT Mumbai)

The issue under consideration is whether the contention of AO is correct in holding that the income from sale of shrink-wrapped software is taxable in India as a royalty?...

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TCS not applicable on Scrap generated from Trading Activities

Lala Bharat Lal & Sons Vs ITO (ITAT Luknow)

The issue under consideration is whether the TCS u/s 206C at 1% will be applicable on sale of scrap not generated out of manufacturing activities?...

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Waiver of Working Capital Loan Taxable u/s 28(iv) and not u/s 41(1)

ITO Vs M/s Sri Vasavi Polymers P. Ltd. (ITAT Visakhapatnam)

The issue under consideration is whether CIT(A) is correct in deleting the addition made by AO u/s 41(1) for waiver of working capital loan and charge it u/s 28 of the Act?...

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Reassessment Proceeding completion without section 143(2) notice is invalid

Shri Gaurav Kumar Vs ITO (ITAT Jaipur)

The issue under consideration is whether AO can issue notice under section 148 for re-assessment without issuing notice u/s 143(2)?...

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AO cannot change Share Valuation Method adopted by taxpayer

VBHC Value Homes Pvt. Ltd. Vs ITO (ITAT Bangalore)

AO can scrutinize the valuation report and he can determine a fresh valuation either by himself or by calling a determination from an independent valuer to confront the assessee but the basis has to be DCF method and he cannot change the method of valuation which has been opted by the assessee....

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ITAT allows 60% Depreciation on Computer & Related Software

ACIT Vs Indiabulls Ventures Ltd (ITAT Delhi)

The issue under consideration is whether the depreciation at the rate of 60% will be allowed for computer related software?...

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Mere Form No. 3CEB filing cannot make assessee liable for Section 92BA investigation

Ashish Subodhchandra Shah (HUF) Vs PCIT (ITAT Ahmedabad)

Merely because a prescribed Form No. 3CEB was filed in accordance with Rule 10E r.w.s. 92BA of the Act would not make an assessee susceptible to onerous investigation proceedings on such transactions where the assessee prima facie demonstrates that Section 92BA of the Act is wholly inapplicable in any manner at the first instance...

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No section 271C penalty for non-deduction of TDS on LTA

State Bank of India Vs Addl. CIT (ITAT Bangalore)

The issue under consideration is whether the AO is correct in levying penalty u/s 271C of the Act for non-deduction of tax at source on Leave Travel Allowance?...

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