42 Hertz Software India Pvt. Ltd. Vs ACIT (ITAT Bangalore) There is no dispute that the Assessee is entitled to claim Foreign Tax Credit (FTC). On perusal of provisions of Rule 128 (8) & (9), it is clear that, one of the requirements of Rule 128 for claiming FTC is that Form 67 is to […]
ITAT held that amended provisions of section 43B as well as 36(1)(va) of the I.T. Act are not applicable for the assessment year 2018-19.
M N Dastur & Co Pvt. Ltd. Vs DCIT (ITAT Bangalore) In the present case the reopening beyond 4 years has been done by getting the approval of Addl. Commissioner and not from the Commissioner or Pr. Commissioner or Pr. Chief Commissioner. Therefore, the initiation of the proceedings u/s 148 of the Act was invalid. […]
Mysore Minerals Ltd. Vs DCIT (ITAT Bangalore) AO noted that assessee has incurred above expenses towards corporate social responsibility as per Companies CSR Rules 2014. He was of the view that under the existing provisions of the Income-tax Act, expenditure incurred wholly and exclusively for the purposes of the business is only allowed as a […]
Karur Jayaprakash Vs DCIT (ITAT Bangalore) We notice that the CIT(A) in his order has admitted the fact that the assessee’s representative for the first time produced various details on 21.06.2010 (page 4 of CIT(A)’s order). The CIT (A) has infact verified these evidences but had rejected the same merely on the ground that these […]
GE Intelligent Platforms Asia Pacific Pte Ltd Vs A.C.I.T (ITAT Delhi) ITAT held that amounts paid by resident Indian end-users/distributors to non-resident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is not the payment of royalty for the use of copyright in the computer software, and that the […]
Arjun Yadav Vs DCIT (ITAT Chandigarh) In the instant case, it is not in dispute that employees’ contribution to ESI and PF had been deposited well before the due date of filing of return of income u/s 139(1) of the Act. We further note that though the ld. CIT(A) has not disputed the various decisions […]
ITAT Kolkata allowed assessee’s deduction for LIC group gratuity scheme. Relying on precedent, control over funds is key for Section 36(1)(v) applicability.
DCIT Vs Vipul Suresh Kumar Modi (ITAT Mumbai) ITAT held that no addition can be made for Transactions in Penny Stocks in respect of unabated assessments which have become final in absence of any incriminating material found during search. The brief facts of the case relevant to the issue before us are that the Assessee, […]
Hindustan Aeronautics Ltd Vs ACIT (ITAT Bangalore) ITAT held that fees paid by the assessee (HAL) to CGTM France for Payment for Flight Testing Services which includes (i) Air intake Survey (ii) Engine bay, FACEC bay and oil cooling systems (iii) Engine Accessories and FADEC vibrations (iv) Measurement of gas concentration of fire extinguishing systems […]
