ITAT Delhi held that rendering cloud computing services/ Amazon Web Services (AWS Services) cannot be held to be liable to tax in India either as royalty or as Fees for Technical Services (FTS)/ Fees for Included Services (FIS).
ITAT Mumbai held that as per Section 56(2)(ix) of the Act money received as advance would be treated as income liable to tax in the hands of recipients under the head ‘Income from Other Sources’ provided such advance is forfeited and the negotiations do not resulted in transfer of the capital assets.
An overview of case, Parth Developers vs PCIT, where ITAT rules that PCIT can’t invoke Section 263 for a project completion method consistently used by AO.
ITAT Mumbai held that deduction u/s 80IA of the Income Tax Act duly available towards FDR interest, scrap sales and EDI charges and on account profit earned from the operation of Inland container Depot (ICD).
ITAT Delhi held that issuance of notice u/s 153C of the Income Tax beyond six Assessment Year immediately preceding the Assessment year from the date of recording of satisfaction note/ handling over of relevant material is not in accordance with law.
ITAT Pune held that penalty under section 270A of the Income Tax Act duly leviable in absence of any plausible legal explanation with regard to misreporting of taxable income and increasing deductions.
ITAT Mumbai held that penalty under section 271B of the Income Tax Act for delay in furnishing of audit report not leviable on account of reasonable cause shown that delay was due to the death of director who was also an accountant of the company.
There is no relevance of date of payment of wages for reckoning limit of 15 days for payment of employees contribution to provident fund : ITAT Mumbai
ITAT Chennai held that professional fees received cannot be taxed under the head Salary merely because consultant/ professional is appointed as managing director of the company. Various details filed undoubtedly proves that professional service is rendered and accordingly taxable under ‘income from profession’.
Read the full text of the ITAT Kolkata order in the case of Parasnath Vinimay Pvt. Ltd. vs. CPC. The appeal discusses the income tax exemption on awards received for compulsory acquisition of agricultural land.
