Software maintenance fees, consulting charges and training fees which are incidental to software license fee, assumes same character as that of software license fee. We held that the consideration received towards software license fee cannot be termed as Royalty.
Kanchan (Widow) Vs ITO (ITAT Jaipur) AO admitted the fact that the appellant has made the sales supported by delivery challan and invoice and copy of party’s ledger account. This sale since accepted and the receipt of the sales in cash cannot be considered as an amount of income under the provision of section 68 […]
ACIT Vs Uniworth Textiles Ltd. (ITAT Kolkata) We find that during the year the assessee has written off the sum of Rs. 84,56,692/- on account of sundry balance written off which was charged to the account of profit and loss account. We note that the substantial part of the amount represented the stock written off […]
Held that order of CIT(A) sustained on the issue restricting the disallowance of non-capitalization of interest on bank loan on Plant & Machinery and on account of non-capitalization of interest expenditure on Capital Work in Progress u/s 36(1)(iii) of the Income Tax Act.
Malook Nagar Vs ACIT (ITAT Delhi) Since the AO has not been specified u/s 274 as to whether penalty is proposed for alleged ‘concealment of income’ OR ‘furnishing of inaccurate particulars of such income’, the penalty levied is hereby obliterated. FULL TEXT OF THE ORDER OF ITAT DELHI The present appeals have been filed by […]
Shivsamarth Group Vs PCIT (ITAT Pune) Admittedly, in the present case, the order which is sought to be revised is the order dropping the reassessment proceedings u/s 147 of the Act. On carefully going through the material on record, it would be clear that the original reassessment proceedings were initiated with view to tax the […]
GSA Gestions Sportives Automobiles SA Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty can’t be invoked under Income Tax Act without relevant documents which substantiate business activities. The appellant GSA (Gestions Sportives Automobiles) is a company engaged in providing services of qualified motor racing drivers to teams […]
Asha Bhausaheb Thube Vs ITO (ITAT Pune) Section 54F of the Act requires assessee to purchase new residential house within a period of Two years after the date of Sale or construct within a period of Three years. In this case, it is a fact that assessee has neither purchased nor constructed a residential house […]
Jurisdiction of AO in cases where section 143(2) notices issued for limited scrutiny is confined to claims AO set out in notice
Desmond Savio Theodore Fernandes Vs ITO (ITAT Mumbai) Section 246A(1)(q) specifically includes, in orders appealable before the learned Commissioner (Appeals), ‘an order imposing a penalty under chapter XXI’, and chapter XXI of the Income Tax Act, 1961 covers Sections 270 to 275- Section 270A, dealing with underreporting and misreporting of income, is thus covered by […]
