ITAT Delhi held that revenue received towards to distribute the channel to cable operators, DTH operators, hotels, institutions etc. in India is not in the nature of royalty and hence addition not sustainable.
ITAT Hyderabad held that deciding any ground based on any additional evidence before CIT(A), without calling for a remand report from the Assessing Officer, is untenable in law. CIT(A) needs to mandatorily given an opportunity to AO to examine the additional evidence.
DCIT Vs Aecom Asia Co. Ltd. (ITAT Delhi) ITAT Delhi held that the assessee has rightly offered the Overseas Consultancy Income as fees for technical services under the provisions of section 115A of the Act and the addition made under section 44DA of the Act is liable to be deleted. Facts- The Appellant is a […]
ITAT Mumbai held that liaison office in India doesnt constitute permanent establishment (PE) of the assessee in India under the provisions of DTAA.
ITAT Mumbai held that the date of acquisition of the property under consideration was to be reckoned from the date of the allotment letter and capital gain will be calculated accordingly.
ITAT Delhi held that proportionate disallowance of interest is not warranted, under Section 14A of Income Tax Act for investments made in tax free bonds or securities which yield tax free dividend and interest.
Late Smt. Kanta Chandak Vs ITO (ITAT Jodhpur) On merits, the ld. AR submitted that the issue raked up by Ld PCIT relate to the deduction claimed by these assessees u/s 54 of the Act, which was allowed by the AO in the original assessment proceedings. He submitted that these assessees could not furnish proper […]
ITAT Chennai held that return of income has to be filed as per section 139 of the Income Tax Act for claiming benefit under section 10A. Exemption under section 10A is not available in case the return is filed belatedly.
Lokmangal Nagri Sahakari Path Sanstha Maryadit Vs PCIT (ITAT Pune) In the present case, we find that admittedly the interest income was earned from the cooperative banks, the cooperative bank is also a specie of cooperative society, therefore, the interest income earned by the cooperative society from the cooperative banks qualifies for deduction u/s 80(P)(2)(d) […]
Shri Arunoday Multi State Cooperative Credit Society Ltd. Vs PCIT (ITAT Pune) The issue in the present appeal relates to the validity of assumption of jurisdiction u/s 263 by the ld. PCIT. The Parliament had conferred the power of revision on the Commissioner of Income Tax u/s 263 of the Act in case the assessment […]
