ITAT Bangalore held that the adjustment made by the TPO towards technical know-how fees despite accepting the entity level margins is liable to be deleted.
ITAT Bangalore held that the pigmy commission will be treated as a salary and subject to the TDS under section 192 of the Act. Accordingly, matter remanded for verification.
ITAT Bangalore held that legal and professional charges being incurred towards business are allowable as revenue expenditure.
ITAT Bangalore held that proviso to Section 36(1)(iii) of the Income Tax Act is not applicable in the present case as sufficient internal cash accruals available during the impugned year are more that interest free funds advanced to the sister concern.
ITAT Bangalore held that depreciation under section 32 of the Income Tax Act is allowable only when the asset is put to use for the business purpose. Notably, the onus is on the assessee to prove that the assets are put to use for the business purposes only.
Till date of conversion, interest paid on CCDs cannot be treated as interest on equity & interest is allowable as expenditure u/s. 36(1)(iii)
ITAT Bangalore held that reimbursement of salary for seconded employee cannot be regarded as ‘Fee for technical services’ (FTS) under India-US Tax Treaty (DTAA).
ITAT Bangalore held that common interest earned from investment in co-operative banks is not eligble for deduction u/s 80P(2)(a)(i) or 80P(2)(d) of the Income Tax Act.
Delve into the Sharada Mohan Shetty Vs ITO case, analyzing the intricacies of Sec. 54F exemption claim, construction delays, and legal implications.
ITAT Bangalore held that expenditure towards Employees Stock Option Plan (ESOP) is allowable deduction u/s 37 of the Income Tax Act.
