ITAT Bangalore held in the case of GXS India Technology Center Pvt. Ltd. vs. ITO that a company which is engaged in development of software products and services cannot be compared to a company which is purely software development services provider.
ITAT Bangalore held in the case M/s Jeans Knit Pvt. Ltd. vs. ACIT that it is clear that the balance in the reserve and surplus is only on account of security premium amount after reducing the loss incurred by the assessee for the earlier year as well as during the year under consideration.
ITO Vs. M/s. Vokkaligara Sangha (ITAT Bangalore) It was held by ITAT that voluntary contributions received for a specific purpose cannot be regarded as income under Section 2(24)(iia) of the Act since they are capital receipts and tied up grants for specific purpose.
The ITAT Bangalore in the case of Shri E. Krishnappa vs. ITO held that initiation of penalty proceedings u/s 271(1)(c) without mentioning its basis i.e. concealment of income or furnishing inaccurate particulars or both would make the proceedings illegal because AO’s satisfaction of the existence
Food world Supermarkets Ltd. vs.DCIT- ITAT Bangalore observed that the 5 seconded employees were not ordinary employees or workers but they were deputed at the high level managerial/executive positions which showed that they were deputed because of expertise and managerial skills in the field.
ITAT Bangalore held In the case of M/s Tejas Networks Ltd. vs. DDIT that the right that is transferred in the present case is the transfer of copyright including the right to make copy of software for internal business
ITAT Bangalore held In the case of DCIT vs. M/s. Parametric Technology (India) Pvt. Ltd. that the use of current year’s data is mandated by the relevant I.T. Rules, 1962 and by not adhering to this, the assessee’s TP Study was rendered unreliable.
ITAT Bangalore held In the case of M/s. Meritor LVS India (P) Ltd. vs. ACIT that the transfer pricing officer (TPO) has drawn conclusions on the basis of information obtained by issue of notice u/s.133(6) .This information which was not available in public domain could not have been used by the TPO,
ITAT Bangalore held In the case of M/s Food world Supermarkets Ltd. vs. DDIT that there is no separate contract of employment between the assessee and the secondees. The secondees are under the legal obligation as well as employment of DFCL
ACIT Vs. Menzies Aviation Bobba (Banglore) Pvt. Ltd. (ITAT Banglore) Revenue filed above appeal against the order of CIT (A) who held that BIAL is statutory body as per requirement of section 80IA (4) (i) of the Income-tax Act.
