The ITAT Bangalore has remanded the transfer pricing case of Andante Foods LLP, directing the firm to provide audited financials of its foreign subsidiary to justify its selection as a tested party.
The Income Tax Appellate Tribunal (ITAT), Bangalore, has set aside the ex-parte assessment and appeal orders against a taxpayer after discovering all notices were sent to an old, incorrect email address.
ITAT, Bangalore, set aside CIT(E)’s rejection of Hamza Welfare Trust’s application for permanent registration under section 12AB and approval under section 80G.
ITAT Bangalore held that interest on housing loan is allowed to be included in cost of acquisition of capital asset under section 48 of the Income Tax Act provided the same is not claimed as deduction u/s. 24(b). Accordingly, matter restored back to AO for verification.
ITAT Bangalore rules against taxing SBNs as unexplained cash when deposits are linked to legitimate business sales, preventing double taxation.
The ITAT Bangalore quashed a PCIT order, ruling that the premature hearing and subsequent order violated natural justice, remitting the case for a fresh hearing.
The ITAT Bangalore ruled that the CIT(A) erred by dismissing a tax appeal without a hearing, violating natural justice. The case was remanded for a fresh hearing.
Siddhartha Pattina Sahakari Sangha Niyamita Vs ITO (ITAT Bangalore) ITAT Bangalore held that the assessee is entitled to deduction under Section 80P(2)(a)(i) of the Income Tax Act on the interest income earned from deposits made in compliance with statutory requirements. Accordingly, appeal of the assessee allowed. Facts- The assessee is a cooperative society registered under […]
ITAT Bangalore rules against using high-turnover IT giants as comparables for smaller captive service providers in transfer pricing, citing scale and brand value differences.
ITAT Bangalore allows a company to claim a deduction under Section 80G for a CSR donation, ruling that disallowance under Section 37 does not bar benefits under Chapter VIA.
