ITAT Hyderabad

TDS on Commission to foreign agents having No PE in India for services rendered outside India

Vimta Labs Limited Vs DCIT (ITAT Hyderabad)

ITAT held that the business receipts of the foreign residents are not taxable in India since the agents have no PE in India and therefore, the assessee was not required to make TDS u/s 195 of the Act. Therefore, the assessee’s appeals for all the three A.Ys are allowed....

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Section 254(2) Non-consideration of decisions is mistake apparent from law

M/s. Ushodaya Enterprises Private Ltd Vs Addl. CIT (TDS) (ITAT Hyderabad)

M/s. Ushodaya Enterprises Private Ltd Vs Addl. CIT (TDS) (ITAT Hyderabad) We have perused the order of the Tribunal and find that in Para 8 of the order, the Tribunal has considered the applicability of sub-section (3) of section 201(1) also to 201(1A) and has clearly held that sub section (3) refers only to an […]...

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Erroneous Assessment order cannot be revised if not prejudicial to Revenue

Pravardhan Seeds (P) Ltd. Vs ACIT (ITAT Hyderabad)

CIT should not stop merely on finding that the order was erroneous but also had to establish that the order of AO was prejudicial to the interests of revenue. Thus, revision could not be made in such a case and the order of AO was restored....

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Distribution of IPL Tickets to Customers to improve Business Relations is allowable as Expenditure: ITAT

M/s. EPE Process Filters & Accumulators Pvt Ltd. Vs DCIT (ITAT Hyderabad)

M/s. EPE Process Filters & Accumulators Pvt Ltd. Vs DCIT (ITAT Hyderabad) Assessee’s submissions in support of its claim u/s 37 of the Act are that it has purchased the IPL cricket match tickets to distribute them amongst its long standing customers to garner their goodwill and improve its business relations and therefore, it is [&h...

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Machinery rent cannot be taxed as Income from House Property for TDS deduction under wrong head

Heritage Hospitality Ltd. Vs DCIt (ITAT Hyderabad)

AO’s opinion that since TDS made u/s. 194-I, incomes are to be assessed under head ‘income from house property’ can not be accepted. Moreover, even if assessee has let out property but, when the Memorandum of Association permits the business of letting out of properties as such, the income cannot be brought to tax as ‘income from ...

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S. 50C Addition without reference to Valuation Officer not justified

Jayashree Kothari Vs ITO (ITAT Hyderabad)

Jayashree Kothari Vs ITO (ITAT Hyderabad) Sec. 50C(2) enables the Assessing Officer to make a reference to the Valuation Officer. Whenever a reference is made by the AO to the Valuation Officer, such reference has to be construed as a reference made under sec. 16A(1) of the Wealth-tax Act. We have also carefully gone through […]...

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Network Rights is Goodwill eligible for depreciation U/s. 32(1)(ii)

Apna Incable Broad Band Services Pvt. Ltd. Vs DCIT (ITAT Hyderabad)

Apna Incable Broad Band Services Pvt. Ltd. Vs DCIT (ITAT Hyderabad) The AO was of the opinion that the network rights are not intangible assets and therefore, depreciation is not allowable thereon. The AO treated the network rights as “goodwill” and observing that no depreciation is allowable on goodwill u/s 32(1)(ii) of the Act, he [...

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Education cess is nothing but an additional surcharge & part of taxes

R.A.K. Ceramics, UAE Vs DCIT (ITAT Hyderabad)

Article 2(1) of the India-UAE DTAA provides that the taxes covered shall include tax and surcharge thereon. Education cess is nothing but an additional surcharge & is also covered by the definition of taxes....

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Stock-in-trade transfers in the year in which sale deed gets executed

Shri Challa Ramakrishna Vs ACIT (ITAT Hyderabad)

ITAT held that Stock- in-trade can be considered as transferred only in the year in which the assessee has executed the sale deed transferring the stock-in-trade and not when the assessee has given stock-in-trade for joint development to the builder. As already held in the above cases, the provisions of section 2(47)(v) would apply only t...

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USA Federal & state tax eligible for tax credit under Income Tax Act, 1961

Pritesh Rajesh Kotak Vs ITO (ITAT Hyderabad)

Assessee was eligible to claim tax credit both federal as well as state taxes paid on the income earned during the year as section 91 did not discriminate between State and Federal taxes, and in effect provides for both the types of Income-taxes to be taken into account for the purpose of tax credits against Indian Income-tax liability....

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