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ITAT Bangalore

Section 194LA TDS not attracted if it is not possible to quantify value in monetary terms

July 28, 2021 1035 Views 0 comment Print

Chief Accounts Officer Vs ITO (ITAT Bangalore) Provisions of section 194LA of the Act would apply only in the case of a compulsory acquisition and not to a case where lands were surrendered by land owners under section 14B of KTCP Act. Hon’ble High Court also held that since BBMP is not paying consideration for […]

Mere filing of voluminous correspondence, reports etc. not a proper compliance

July 27, 2021 831 Views 0 comment Print

M/s. Exide Life Insurance Company Ltd. Vs ACIT (ITAT Bangalore) The assessee has in the present case filed material before the TPO to demonstrate the nature of services rendered. In the paper book filed before us the index of the paper book gives a description of the service. We are of the view that the […]

Functionally different company cannot be included in List of Comparables

July 23, 2021 954 Views 0 comment Print

SAP Labs India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The argument of the learned AR is that Infosys Limited is functionally different from the assessee. It owns intangible and undertakes research and development. The learned AR also submitted that it has high brand value and turnover. On the contrary, the learned DR submitted that the […]

Professional charges incurred during company acquisition cannot be treated as revenue expenses

July 22, 2021 4812 Views 0 comment Print

M/s Steer Engineering Pvt. Ltd. Vs Addl. CIT (ITAT Bangalore) M/s. Steer Engineering Pvt. Ltd. (Appellant) acquired the business of two companies namely Concord United Products Pvt. Ltd., and M/s. Aditya Precision Deposition Moulding Pvt. Ltd. and incurred Rs.1,20,820/- as professional fees for drafting business transfer agreements and legal opinions. The Appellant claimed it as […]

No need for cause & effect relationship for claiming expenditure u/s 37(1)

July 15, 2021 1317 Views 0 comment Print

M/s. Vijaya Bank Employees Housing Co-operative Society Ltd. Vs ACIT (ITAT Bangalore) Conclusion: In present facts of the case it was observed by the Hon’ble Bench that where a deduction is necessary in order to ascertain the profits and gains, such deductions should be allowed. Profits should be computed after deducting the expenses incurred for […]

Assessee cannot use proceedings u/s. 154 to file appeal against order passed u/s. 143(1)

July 15, 2021 23043 Views 0 comment Print

Navodaya Education Trust Vs DCIT (ITAT Bangalore) it is submitted that the CPC, Bengaluru made the impugned adjustment in its intimation u/s 143(1), erroneously and as such the same was rectifiable as per the provisions of section 154. The CIT(Appeals) has erred in confirming the the same and rejecting the rectification application filed by the […]

No TDS on Purchase of software licenses with associated hardware from Foreign Companies

July 12, 2021 20073 Views 0 comment Print

Autodesk Asia Pte Limited Vs DCIT (ITAT Bengalore) The assessee is a Singapore based company, a subsidiary of Autodesk US and the headquarters for Asia-Pacific (APAC) region. It is engaged in the business of manufacturing, designing and supporting computer software and related Autodesk products in the APAC region. It performs or manages activities related to […]

TDS Credit allowable in Years In Which Income is Assessable to tax

July 12, 2021 8424 Views 0 comment Print

DCIT Vs Sasken Network Engineering Limited (ITAT Bangalore) In terms of section 199, Rule 37BA provides that credit for tax deducted at source and paid to the Central Government shall be given for the Assessment Year for which such income is assessable. In case the income is assessable over a number of years, credit for […]

Expenses incurred on buy back of shares allowed as revenue expenditure

July 12, 2021 4626 Views 0 comment Print

Ocwen Financial Solutions Pvt. Ltd. Vs ACIT (ITAT Bangalore) During the previous year relevant to assessment year, the assessee had spent on buy-back of shares and debited the same to Profit & Loss account. The expenditure was disallowed by the AO in his draft assessment order holding the same to be capital expenditure. Hon’ble High […]

No Royalty on sale of software & no Fees for Technical Services on back-office services

July 6, 2021 3264 Views 0 comment Print

M/s. QlikTech International AB Vs DCIT (ITAT Bangalore) Bangalore ITAT rules out royalty on distribution of software and holds that software payments are not taxable in India by placing reliance on landmark rulings in case of Engineering Analysis Centre of Excellence. It further held that back office services don’t qualify as Fees for Technical Services […]

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