Income from cloud hosting services is erroneously held as royalty within the meaning of explanation 2 to section 9(l)(vi) of the Income Tax Act, 1961 (the Act) as well as Article 12(3)(b) of the India – US tax treaty
Gemological Institute of America Inc. Vs Add. CIT (ITAT Mumbai) Conclusion: In terms of the provisions of section 92CE, refund of taxes could be claimed or allowed on account of secondary adjustments- even if, such secondary adjustments end up reducing the income of the foreign AE assesses as a result of partial repatriation of income. […]
Interworld Shipping Agency LLC Vs DCIT (ITAT Mumbai) The short issue that we are actually required to adjudicate, in this appeal, is whether or not the authorities below were justified in declining the benefits of India UAE Double Taxation Avoidance Agreement [(1995) 205 ITR Stat 49; Indo-UAE tax treaty, in short] to the assessee appellant. […]
Vodafone Idea Ltd. Vs DCIT (ITAT Mumbai) We find that in the instant case, the AO had made disallowance on depreciation on 3G Spectrum Fees to the tune of Rs. 408.01 crores. And if the said disallowance is ignored, the net result of remaining additions would only result in assessed loss and hence no tax […]
Paramjeeet Singh Vs ACIT (ITAT Delhi) It is pertinent to note that the assessee’s land was acquired by the Government and he received total compensation of Rs. 2,56,29,932/- from land acquisition officer Panchkula which include interest on enhanced compensation of Rs. 1,08,62,416/- and assessee claimed this interest received on enhanced compensation exempt under Section 10(37) […]
DCIT Vs Pfizer Products (India) Pvt Ltd. (ITAT Mumbai) In terms of the agreement with M/s. Pfizer Ltd., assessee was sharing services of certain employees and other facilities which belonged to M/s. Pfizer Ltd. The reimbursement of such expenses due or paid to M/s. Pfizer Ltd. amounts to Rs.14,51,77,000/- and has been included under the […]
Hexagon- MIDCO India Private Ltd. Vs CIT Appeals (ITAT Mumbai) Learned Sr. DR fairly agreed that in case the holding company MIDCO Limited has deducted the TDS on salary paid to these employees no further requirement of TDS on principle but assessee has to produce evidence before the Assessing Officer. Hence, on Principle, we are […]
Nutech Engineering Technologies Ltd. Vs DCIT (ITAT Mumbai) We noted that the assessee has claimed depreciation on the property sold as Lunkard Sky Max of 17 units in AYs 2010-11 and 2011-12. But from AY 2012-13 i.e. Financial Year 2011-12 out of 17 units 7 units were given on rent and accordingly rental income was […]
Grasim Industries Limited Vs DCIT (ITAT Mumbai) By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115O/115Q r.w.s. 2(22)(a) of the Income Tax Act, 1961, on, what […]
Greatship (India) Ltd. Vs DCIT (ITAT Mumbai) The assessee has further assailed the disallowance worked out by the A.O under Sec. 1 4A r.w Rule 8D, on the ground that there was no recording of an objective satisfaction by the A.O that the suo-motto disallowance offered by the assessee under Sec. 14A was not correct. […]
