ITAT Bangalore

No Penalty for TDS Default due to reasonable cause on Foreign LTC Paid to Staff

State Bank of India Vs ACIT (ITAT Bangalore)

State Bank of India Vs ACIT (ITAT Bangalore) The assessee is a banking institution. A survey u/s 133A of the Act was conducted in the hands of the assessee in order to verify compliance of TDS provisions. It was noticed that the assessee has provided LTC facility to its employees and some of the employees […]...

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Deduction of provision for gratuity was allowable from book profits

KMF Infotech Ltd Vs DCIT (ITAT Bangalore)

Provision for Gratuity was an ascertained liability eligible to be deducted from the net profit for the purpose of computing book profit u/s 115JB of the Income Tax Act....

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Section 68 applies only to unexplained credit entries without proper explanation

K N R Roofing Pvt. Ltd. Vs ACIT (ITAT Bangalore)

ITAT are of the view that u/s. 68 of the Act, it is only the credit entry appearing in the books of account of an assessee for the relevant previous year, that can be treated as unexplained cash credit in the absence of proper explanation by the assessee...

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Assessment proceedings cannot be conducted against HUF after partition

Shri S. Krishnappa (HUF) Vs DCIT (ITAT Bangalore)

The issue raised by the assessee that the HUF was not in existence when the assessment proceedings have been conducted and the Assessment Order has been passed on HUF and therefore, the entire proceedings are rendered null and void and it should be held that the Assessment Order is bad in law on the facts and circumstances of the present ...

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No Section 194C TDS on reimbursement of vehicle expenses

Sri. Singonahalli Chikkarevanna Gangadharaiah Vs. ACIT (ITAT Bangalore)

Where a vehicle was provided by assessee to the concerned parties and assessee was to bear the vehicle expenses actually incurred by the cab owners which will be reimbursed by the parties concerned, reimbursement of actual expenses incurred by assessee could not be treated as payment subject to TDS under section 194C....

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Deduction of not contingent warrant expenses allowable from book profit

Lenovo India Pvt. Ltd. Vs ITO (ITAT Bangalore)

Provision for warrant expenses was not contingent and had to be allowed as deduction while computing income under the head Income from Business & Profession. Thus, the addition made to the book profits under section 115JB was to be deleted because the liability could not be said to be contingent. ...

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Belated Service Tax payment allowable on actual payment basis

Wyzmindz Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore)

Service tax collected by assessee and not paid to the Government exchequer before the due date of filing of return was to be disallowed under section 43B and the same should be allowed on actual payment in the assessment year in which it was actually paid. ...

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ITAT extends Stay Period for Google India for 6 months

Google India Private Limited Vs ACIT (ITAT Bangalore)

The ITAT has granted an extension of stay period to IT giants Google India citing a reason for the delay in non-disposal of appeal. In the given case, the assessee has filed the Stay Petition for extension of stay of outstanding demand. However, the revenue has challenged the above stay order passed by the Tribunal before the Hon'ble High...

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No interest allowance u/s 40(a)(ia) if deductee furnished Form 15G or 15H

JCIT Vs Karnataka Vikas Grameena Bank (ITAT Bangalore)

Disallowance of interest paid to persons who furnished Form 15 G and Form 15 H  should not be made u/s 40a(ia) for non deduction of TDS as the requirement of filing of Form 15G and 15H with the prescribed authority viz., CIT was only procedural and that could not result in a disallowance u/s 40a(ia)....

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Section 54B exemption cannot be denied for absence of legal title due to pending litigation

Chinnappa Anthonappa Vs ACIT (ITAT Bangalore)

The assessee had complied with conditions for grant of deduction under sections 54B inasmuch as he has utilised, within a period of two years from the date of transfer of capital asset, the capital gain in purchasing another land for being used for agricultural purposes, therefore, mere fact that assessee did not get legal title to the la...

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