Delhi ITAT rules management fee on ECB falls under ‘interest’ as per Sec 2(28A), exempt under India-Germany DTAA Art.11, aiding Aka Ausfuhrrkreditgesellschaft MBH.
ITAT Kolkata rules service tax collected for rendering services does not form part of gross receipts under Sec 44BBA, benefiting Cathay Pacific Airways.
Mumbai ITAT reinstates appeal due to CIT(A)’s failure to consider case merits in Rajkumar Anandchand Jain Vs DCIT, emphasizing proper legal procedures.
ITAT Mumbai rules Sec 68 invoked only if taxpayer can’t explain credits in books, highlighting the importance of genuine transactions for AY 2011-12, 2012-13.
Rajkot ITAT finds BSNL not in default for TDS on discounts to distributors, emphasizing correct TDS rates compliance for AY 2009-10. Appeals allowed.
Ahmedabad ITAT allows Amikrupa Education Trust’s appeal, ruling cash deposits during demonetization with explained sources not taxable under Section 69A.
ITAT Bangalore rules on the scope of rectification under Section 154, emphasizing that only clear and obvious mistakes can be corrected, aiding the assessee.
ITAT Ahmedabad sets aside re-assessment proceedings initiated after 4 years from the AY end, citing no new material for reassessment under Section 147 of the Income Tax Act.
ITAT Ahmedabad rules accepting stamp authority valuation is not proof of incorrect sale consideration, removing penalty under Section 271(1)(c) of the Income Tax Act.
Mumbai ITAT rules in favor of Speco Infrastructure, maintaining deletions of tax additions by appellate authority in a reasoned order for AY 2013-14.
