For computing indexed cost of the asset, the date is to be reckoned from the date of allotment of the property to the assessee, and not from the date on which possession certificate was issued to the assessee.
As per the proviso to section 43B, the amount paid before the due date for filing return of income out of the provision created is allowable as deduction. Admittedly, assessee had paid a sum out of the provision so created, before the due date for filing return of income.
Discover ITAT Bangalore’s decision on Aptean India Pvt. Ltd.’s appeal against assessment order for AY 2013-14 regarding education cess deduction.
Eit Services India Pvt. Ltd. Vs ACIT (ITAT Bangalore) According to the Assessee, it was on the basis of professional opinion, under the belief that the issues that were sought to be agitated before the CIT(A) against the order of assessment dated 30.12.2008 could be agitated before the AO in the proceedings pursuant to the […]
Arun Kumar B M Vs ITO (ITAT Bangalore) The Assessing Officer held that the assessee is required to invest Rs.50 lakh in REC Bonds in any financial year. The Assessing Officer also relied on the amendments made to section 54EC of the I.T.Act vide Finance Act, 2014 w.e.f. 01.04.2015. Assessee has filed this appeal before […]
Himalaya Drug Company Vs ACIT (ITAT Bangalore) We noticed that the assessee has exported finished goods to its AEs located in various Countries and the AEs have only marketed the goods. Since the finished goods exported by the assessee are drugs and beauty care items, the assessee was required to comply with the requirement of […]
Canvera Digital Technologies Pvt. Ltd Vs DCIT (ITAT Bangalore) From the details filed, Ld.AO observed that, assessee had computed the value as per DCF method and that there was nothing to suggest that DCF method was an appropriate method to value the shares. Ld.AO rejected DCF method adopted by assessee for the reasons that cash […]
Dell International Services India Pvt. Ltd. Vs JCIT (ITAT Bangalore) We find that before us, there are 3 grievances of the assessee. The first grievance is regarding assessee’s request for exclusion of comparable M/s. Comp-U-Learned Tech India Ltd. The second grievance is regarding assessee’s request for exclusion of CAT Technology Ltd. The third grievance of […]
The issue under consideration is whether assessee engaged in business relating to online advertising is considered as technical services or royalty Section 9(1)(vii) of the Income Tax Act, 1961?
AXA Business Services Pvt. Ltd. Vs DCIT (ITAT Bangalore) We have considered the rival submissions. We find that despite all the details having been filed by the assessee before the CIT(Appeals), the CIT(Appeals) has not considered those submissions with regard to the sum disallowed by the AO, except the sum of Rs.81,52,209 which was incurred […]
