HCG Global Communications Ltd. vs. DCIT (ITAT Bangalore) case ruling: Telecom interconnect usage payments received by a foreign company from an Indian operator deemed non-taxable as ‘royalty’ under the Income Tax Act.
Toyota Financial Services India Ltd vs ACIT: ITAT Bangalore provides relief, orders re-adjudication on taxability of NPAs’ interest income. Full text analysis.
ITAT Bangalore held that if the duration of software license is less than two years, then it should be treated as revenue expenditure and if the duration is more than two years, then it should be treated as capital expenditure.
ITAT Bangalore held that addition under section 69 of the Income Tax Act unjustified as source of fund duly explained. Rejection of the explanation relating to source of fund by the department without sufficient reason is unsustainable in law.
Read about the ITAT Bangalore’s order directing re-adjudication on the deduction under Section 80P(2)(e) for agricultural loans provided by Savanoor Primary Agricultural Co-operative Society Ltd.
ITAT Bangalore rules that submission of Income Tax Form No. 10BA is necessary for claiming deduction under Section 80GG. Details of the case explained.
ITAT Bangalore overturns PCIT’s directive to disallow 80P deduction without proper claim, emphasizing lack of error prejudicial to revenue.
ITAT Bangalore held that microfinancing activities by charging exorbitant interest cannot be considered to be charitable purpose in terms of section 2(15) of the Income Tax Act accordingly exemption claimed u/s 11 and 12 duly deniable.
Delve into the detailed analysis of DCIT Vs AD2PRO Media Solutions Pvt. Ltd. case where marketing services rendered by a US entity in India were deemed not taxable, offering insights into tax benefits.
ITAT Bangalore rules income from credit facilities to nominal members of a Co-operative Society exempt under Section 80P(2)(a)(i) of the Income Tax Act.
