The Oriental Insurance Co. Ltd. Vs DCIT (ITAT Delhi) The assessee is aggrieved by the action of the AO in making a disallowance of Rs 56,59,609/- on account of Provision made for Standard Assets. It was submitted that as per the scheme of taxing income of the assessee is to be computed as per provisions […]
McCANN Erickson (India) Pvt.Ltd. Vs ACIT (ITAT Delhi) we find that the Ld.CIT(A) has relied upon the amendment in the statute. However, the Co-ordinate Bench of this Tribunal after having considered the amendment held in the case of Ashapura Minichem Ltd. vs ADIT 131 TTJ 291 that till 08.05.2010, “the prevailing legal position was that […]
Surana Mutha Bhasali Developers Vs ACIT (ITAT Pune) The doctrine of approbate and reprobate does not allow the Department to blow hot and cold in the same breath, thereby accepting one consequence arising from the statement of the assessee while rejecting the other one. When the assessee made a surrender with the clear backdrop of […]
UKN Properties Pvt. Ltd. Vs DCIT (ITAT Banglore) Since the transactions of purchase of software has been completed prior to rendering of decision by Hon’ble Karnataka High Court and since there were decisions which have held that TDS is not required to be made out of payment made for software purchases, following the above said […]
AO was justified in treating the payment to ROC for increase in capital as capital expenditure as ROC expenses was fees for enhancement of capital.
Sahara India Life Insurance Co. Ltd. Vs ACIT (ITAT Delhi) AO made the addition on the basis of tax audit report where it was mentioned that an amount of Rs. 31,63,861/- towards leave encashment unpaid is disallowed u/s 43B. The CIT(A), following the orders of his predecessor for preceding so many assessment years, deleted the […]
Bank of India – Kirkee Branch Vs ITO (ITAT Pune) Conclusion: In present facts of the case, it was held by the Hon’ble Tribunal that expired time limit does not get revived with the extended time limit inserted later on. Held: In present facts of the case, the assessee-bank accepted deposits from its customers, on […]
Tech Mahindra Business Services Ltd Vs DCIT (ITAT Mumbai) Undisputedly, the assessee has earned the interest income from the deposit made towards bank guarantee and temporary parking of surplus funds. It is evident, the assessee has no other activity of earning income except export of ITES through its 10A unit. Thus, it can be safely […]
Global Health Private Limited Vs DCIT (ITAT Delhi) A plain reading of section 45(2) makes it amply clear that it is the prerogative of the assessee to covert the capital asset to stock. Further, the term ‘Business carried on by him’ necessarily means that the capital asset so converted must form part of stockin-trade of […]
Trimble Solutions Corporation Vs DCIT (ITAT Mumbai) We find that the issue involved in the present appeal i.e as to whether the payments received by the assessee from its distributor for sale of specialized software and maintenance and support services (including upgrades) could be held as “royalty” as per Article 12 of the India-Finland tax […]
