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ITAT Bangalore

Addl. CIT not empowered to Grant approval for reopening beyond 4 years

March 17, 2022 891 Views 0 comment Print

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. […]

CSR Expenditure Prior to A.Y. 2015-16 was allowable expense

March 17, 2022 1755 Views 0 comment Print

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 […]

Handling of assessment proceedings in unprofessional manner by consultant: ITAT restores matter to AO

March 17, 2022 747 Views 0 comment Print

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 […]

Payment for Flight Testing Services by HAL is not FTS

March 16, 2022 1038 Views 0 comment Print

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 […]

Mistake in section 234C interest calculation: ITAT directs AO to check

March 15, 2022 3039 Views 1 comment Print

ABB Limited Vs Additional CIT (ITAT Bangalore) Learned AR has given a table, wherein it is claimed that excess payment of advance tax for the 1st and the last quarter has been ignored while calculating interest u/s 234C of the I.T. Act. ITAT directs A.O. to examine the correctness of the claim of the assessee […]

Amendments related to Employees’ Contribution to ESIC/PF vide Finance Act, 2021 are Prospective

March 14, 2022 7482 Views 0 comment Print

Plivo Communications Private Limited Vs ACIT (ITAT Bangalore) Hon’ble Supreme Court in the recent judgment in the case of M.M.Aqua Technologies Limited v. CIT reported in (2021) 436 ITR 582 (SC) had held that retrospective provision in a taxing Act which is ‘for the removal of doubts’ cannot be presumed to be retrospective, if it […]

Cash embezzlement loss not allowable if not charged to P&L a/c

March 13, 2022 4509 Views 0 comment Print

Avijit Dewanjee Vs DCIT (ITAT Bangalore) ITAT held that as the assessee has not ascertained the loss on account of embezzlement of cash in the books of account and it is shown as sundry debtors suspense account without charging it to the P&L account. At this stage, it is not possible to hold that it […]

Amendment to section 36(1)(via) & 43B are prospective not retrospective

March 11, 2022 3720 Views 0 comment Print

Amendment brought by Finance Act, 2021 to section 36(1)(via) and 43B is only prospective in nature and not retrospective and the same to be effective from 1-4-2021 and will apply for and from the assessment year 2021-22 onwards.

TPo cannot reject a Comparable for not figuring in his search matrix

March 10, 2022 2874 Views 0 comment Print

Prism Networks Private Limited Vs ACIT (ITAT Bangalore) The Hon’ble Tribunal held that the DRP has not considered the plea of assessee in proper perspective. The fact that the TPO rejected the TP Study of the Assessee cannot be the basis not to consider the claim of the Assessee for inclusion of comparable companies. The […]

Employee Contribution To PF/ESI of AY 2019-20 paid before ITR Filing allowable

March 8, 2022 1986 Views 0 comment Print

Methods (India) Private Limited Vs DCIT (ITAT Bangalore) In this case there is no dispute that the assessee made payment of the Employees share of PF/ESI on or before the due date for filing return of income for AY 2017-18 u/s. 139(1) of the Act. The next aspect to be considered is whether the amendment […]

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