Provision of consultancy service involving substantial technical skill cannot be treated as FIS

Bain &

ITAT Delhi held that as per India-USA DTAA provision of consultancy services cannot be treated as FIS merely because the service provider while providing consultancy services had used substantial technical skill and expertise....

Services rendered outside India but used in India is taxable in India

Metso Outotec OYJ Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that the assessee has no permanent establishment in India and these services were also rendered outside India but the services has been used in India and, therefore, it is taxable in India....

Disallowance of employee stock option expense unsustainable as it is revenue in nature

DCIT Vs Cleartrip Private Limited (ITAT Mumbai)

ITAT Mumbai held that disallowance of employee stock option expenses alleging it to be capital expenditure is unsustainable in law in as much as such expenditure are revenue in nature and hence allowable....

Order passed in case of non-existing entity is null and void

India Medtronic Private Limited Vs ADDL/JT/DY/CIT/ITO (ITAT Mumbai)

ITAT Mumbai held that entire assessment order passed in the case of non-existing entity is null and void and hence is liable to be quashed....

Disallowance of interest u/s 36(1)(iii) unjustified as interest bearing funds not used for purchase of land

Manipal Education and Medical Group India Pvt. Ltd. Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that disallowance of interest u/s. 36(1)(iii) of the Income Tax Act unjustified as interest bearing funds not utilized towards purchase of capital assets (i.e. land)....

Broadcasting Reproduction Right not covered under definition of Royalty under Article 12 of India-USA DTAA

Fox International Channels (US) Inc Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that Broadcasting Reproduction Right is not covered under the definition of Royalty under the Income Tax Act as well as Article 12 of the India-USA DTAA....

Other method in rule 10AB is most appropriate method in case of royalty transactions

ASB International Pvt Ltd Vs Additional Income Tax Officer (ITAT Mumbai)

ITAT Mumbai held that "other method" provided in Rule 10AB r.w.s. 92C (1) would be a good substitute for CUP as there is lack of reliable comparables in case of royalty transactions as royalty payments have been made for unique intangibles...

Section 271(1)(c) penalty cannot be imposed merely for incorrect income head treatment

D. C. Polyester Limited Vs DCIT (ITAT Mumbai)

In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment....

No Section 14A Disallowance if Assessee has Surplus Interest-Free Funds Exceeding Exempt Income Investments

Aditya Birla Nuvo Limited Vs ACIT (ITAT Mumbai)

Aditya Birla Nuvo Limited receives relief as ITAT Mumbai rules that investments yielding exempt income must be considered for disallowance under Rule 8D(2)....

Income Surrendered During Survey Not Taxable at 60% under Section 115BBE

Yogesh Kumar Vs PCIT (ITAT Delhi)

ITAT Delhi quashes revision order, ruling that additional income surrendered during survey proceedings should not be taxed at 60% under Section 115BBE of the Income Tax Act....

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September 2023