Shri Rama Jogi Reddy Sanepalli Vs ITO (ITAT Bangalore) ITAT Pune Bench in the case of Ratnakanta B. Agarwal v. ITO, ITA 587/PUN/2014, order dated 24.07.2017 wherein the Hon’ble Pune Bench took the view that if the variance between the value estimated as fair market value by the DVO and the value adopted by the […]
Payment to non-resident towards purchase of advertisement space for resale to advertisers in India constituted ‘Royalty’ under section 9(1)(vi) and assessee was under an obligation to withhold tax under section 195.
M/s Janani Infrastructure Pvt. Ltd. Vs ACIT (ITAT Banglore) We have held that the sole basis of reopening of the assessment is the information received from the CBI. It is an undisputed fact that AO did not supply those materials to the assessee and also did not confront them with the assessee. Hence, we are […]
Ms Karnataka Power Transmission Corporation Ltd. Vs ITO (OSD) (TDS) (ITAT Bangalore) FACTS – Karnataka Power Transmission Corporation Ltd. paid cash equivalent of unutilized leave at the time of retirement of their employees, however, they didn’t deducted TDS on the same. As per section 10(10AA), in case of payment towards unutilized leave period, entire payment […]
Smt. Roopa Vs ITO (ITAT Bengalore) ITAT held that assessee’s claim for exemption u/s 54/54F of the Act in respect of 2 flats in the same residential building complex is squarely covered in favour of the assessee by the decision of the Hon’ble Karnataka High Court in the case of CIT Vs. Smt. K. G. […]
The assessee had complied with conditions for grant of deduction under sections 54B inasmuch as he has utilised, within a period of two years from the date of transfer of capital asset, the capital gain in purchasing another land for being used for agricultural purposes, therefore, mere fact that assessee did not get legal title to the land could not be ground to deny benefit of deduction under sections 54B.
ACIT Vs. Shri Dilip Ranjrekar (ITAT Banaglore) It is apparent from the facts of the case as mentioned (along with copies of corroborative documentary evidence) and discussed above from para 7.1 to 4.4.3 of this order (Supra) that the non completion of the construction the flat by the builder within the stipulated period is beyond […]
Inatech India Pvt. Ltd. Vs ITO (ITAT Bangalore) From the narration of facts with regard to the non disposal of the appeal of the Assessee, it is clear that the delay in non disposal of the appeal is not attributable to any default on the part of the assessee. The law is by now well […]
M/s. Kottaram Agro Foods Pvt. Ltd. Vs ACIT (OSD) (ITAT Bangalore) At the very outset, it was submitted by ld. DR of revenue that as per para 4.2 of the assessment order for Assessment Year 2014-15 and para no. 4.3 of the assessment order for Assessment Year 2015-16, it is noted by the AO that […]
Candor Business Solutions P. Ltd. Vs ITO (ITAT Bangalore) Conclusion: Where bonus has been paid to directors for the services rendered and as part of a payment of employment, deduction of the same was to be allowed u/s. 36(1)(ii). Held: AO disallowed amount of bonus to director-shareholders of the assessee company u/s. 36(1)(iii). In the […]
