ACIT Vs Metric Stream Infotech (India) Pvt. Ltd. (ITAT Banglore) There is a categorical finding returned by Ld.CIT(A) that assessee was unable to get loan from Citibank for meeting the expenses and Citibank also refused to extend the loan. Subsequently assessee was waiting for funds from the principle which was received only after 31/03/2013 by […]
Dell International Services India Pvt. Ltd. Vs ACIT (ITAT Bangalore) We find that the appeals were listed for hearing and adjourned and the delay for non-disposal of the appeals is not attributable to the assessee. Considering the overall facts and circumstances of the case and following the decision rendered by Hon’ble Delhi High Court in […]
Venugopal Naidu Pushparaj Vs ITO (ITAT Bangalore) Conclusion: Once assessee adopted the cost of these 7 flats received under JDA for the purpose of offering the capital gain, same to be considered as cost of construction from the sale consideration of flats received from the developer under the agreement. Held: AO initiated re-assessment proceedings on the […]
D .V. Sadananda Gowda Vs ACIT (ITAT Bangalore) Admittedly, the addition of Rs.5 lakh has been made in the case of the assessee only on the basis of diary noting, statement of VP (Finance), RNSIL, and data retrieved by using forensic tools from seized computer server (data was deleted and the same was retrieved by […]
Hothur Traders Vs ACIT (ITAT Bangalore) In the present case, the assessee had received the amount in the course of its business, which are originally treated as an advance. These deposits neither claimed nor returned to the party concerned. There is no dispute that this impugned amount was received in the course of carrying on […]
Zynga Game Network India Pvt. Ltd. Vs DCIT (ITAT Bangalore) We note that Ld.AO/TPO has applied filter of more than Rs. 1 crore, but did not put an upper limit to the filter. This Tribunal in case of Genesis Integrating Systems India Pvt Ltd vs DCIT reported in (2012) 53 SOT 159 and various other […]
The assessee herein is one of the branches of M/ State Bank of Travancore, which has since been merged with M/s State Bank of India. It is stated that there was shortage of staff and domain expertise in taxation. On examination of reasons furnished by the assessee in a liberal manner, in our view, the reasons given by assessee for delay in filing appeal before Ld. CIT(A) shall constitute sufficient cause
K.S. Hanumantha Rao Vs PCIT (ITAT Bangalore) According to the CIT, the assessee was not entitled to claim for deduction u/s 54 of the I.T.Act amounting to Rs.48,81,963 for the investment made in new asset, since the investment in the new asset was made one year prior to the date of sale of the original […]
NXP India Private Limited Vs ACIT (ITAT Bangalore) In this case AO passed a combined order giving effect to earlier orders of Tribunal with regard to original assessment and also reassessment order u/s. 143(3) r.w.s. 147 of the Act which is incorrect. The AO must have passed distinct and separate orders giving effect to the […]
ITAT Bangalore rules non-resident software payment not royalty. Section 195 not applicable. Full text and analysis of Altisource vs. ACIT case.
