ITAT Kolkata held that sale of software is transfer of ‘copyrighted article’ and not transfer of any ‘copyright’ and hence cannot be characterized as ‘Royalty’. Hence, the same is not taxable in terms of India-Ireland DTAA.
Arham Packaging Goods Pvt. Vs I.T.O. (ITAT Kolkata) Normally, we do not hesitate in adjourning the matters on the request of assessees but we find that it is a case of share application and share premium. There are large number of appeals pending on this issue before the Tribunal and out of them, 95% are […]
ITAT Kolkata held that reduction of adhoc disallowance of miscellaneous expenditure from 15% to 5% justified as 1st Appellate Authority has exercised discretion in working out the adhoc disallowance.
Hrishikesh Mega Township (P) Limited Vs Income Tax Officer (ITAT Kolkata) In this case satisfied that the assessee has nothing to say in support of its alleged bogus share capital claim. Apart from the above, we also notice that impugned order was passed in 2016 by the ld. 1st Appellate Authority, whereas appeal has been […]
ITAT Kolkata ruling on Anushree Agarwal vs ACIT case. Analysis of disallowed interest and additions. Get insights into the key decisions and conclusions.
ACIT Vs Cellbiz Services (ITAT Kolkata) CIT(A) has categorically mentioned that the cash book, purchase register and all individual invoices where cash transaction had taken place have been thoroughly checked and it is found that not a single such transaction actually exceeded the threshold limit of Rs.20,000/-. In view of the aforesaid factual finding given […]
Machine Tools India Ltd. Vs ACIT (ITAT Kolkata) CBDT has issued instruction from time to time to the AO’s qua the manner of processing the return and giving TDS credit. Delhi High Court in the case of Own Motion and Ors. Vs. CIT & Ors. In [2013] 352 ITR 273 (Delhi) issued seven mandamuses for […]
ITAT Kolkata held that disclosure of undisclosed income under IDS, 2016 on which taxes are duly paid cannot be further added as undisclosed stock. Claim of set off of undisclosed income duly available against the undisclosed stock surrendered during the course of survey.
Assessee demonstrated that cash deposit in its bank account by a party in the state of Assam is against its sales realisation and is duly accounted in its books of account and offered for taxation.
PCIT wrongly proceeded to set aside assessment order due to mismatch of truck number in two invoices, which was visibly a clerical mistake.
