ITAT Pune

No TDS on Payment to Amazon for Web-Hosting as same is not Royalty

EPRSS Prepaid Recharge Services India Pvt. Ltd. Vs ITO (ITAT Pune)

EPRSS Prepaid Recharge Services India Pvt. Ltd. Vs ITO (ITAT Pune) Tribunal further observed that there was no amendment in the DTAA between the two countries analogous to the Explanation 5 to section 9(1) of the Act and accordingly Amazon was not chargeable to tax in respect of Web hosting charges received from the assessee […]...

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No exemption U/s 54F on failure to deposit unutilized amount of capital gain within time

Shri Sameer Vithalrao Ghanwat Vs ITO (ITAT Pune)

Assessee is not entitled to the claim of deduction under section 54F of the Act as the assessee has failed to deposit the unutilized amount of capital gains in the capital gains scheme account by the date of filing of return of income....

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ITAT on section 80-IA(4) deduction claimed by filing revised return

Sharp Designers and Engineers India Pvt. Ltd. Vs ACIT (ITAT Pune)

Assessee’s case with both original and revised returns filed in time was placed in a better position, therefore, deduction under section 80-IA was allowable, despite the same was claimed through filing of revised return....

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Web hosting charge payment to Amazon Web Services do not constitutes royalty

EPRSS Prepaid Recharge Services India P. Ltd. Vs ITO (ITAT Pune)

Assessee was only using services provided by Amazon and was not concerned with the rights in technology. The fees paid by assessee was for use of technology and cannot be said to be for use of royalty,...

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Gain on settlement of sales tax deferred liability not taxable

DCIT Vs Alfa Laval India Ltd. (ITAT Pune)

Alfa Laval India Ltd. case: Difference between the Net Present Value against the future liability credited by the assessee under the capital reserve account in its books of account, is a capital receipt, the addition made on account of the gain on settlement of the sales tax deferred liability not taxable...

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Depreciation Eligible on Intangible asset namely Goodwill

KPIT Cummins Global Business Solutions Ltd. Vs Asstt. CIT (ITAT Pune)

Goodwill is an intangible asset under section 32(1)(ii) covered within the expression 'any other business or commercial rights of similar nature' and, therefore, assessee was entitled to claim depreciation on such goodwill....

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AO cannot set-off of brought forward loss before allowing remuneration to partner

Rajmal Lakhichand Vs JCIT (ITAT Pune)

Computation of book profit is as per section 40(b) and remuneration to partner is based on current year’s "Book Profits", while set-off of brought forward losses is to be granted in terms of section 72. Therefore, while arriving at business income, deduction of section 40(b) is to be given first and then if at all there remains positive...

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Assessment U/s. 153A: No incriminating material found, no addition can be made

Leelavati Vijaykumar Kotecha Vs ACIT (ITAT Pune)

As there was no incriminating material found during search, no addition could be made because on the date of search no regular assessment was pending....

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TDS not deductible on reimbursement of expenses under Income Tax Law

Klaus Multiparking System Pvt. Ltd. Vs ACIT (ITAT Pune)

Klaus Multiparking System Pvt. Ltd. Vs ACIT (ITAT Pune) As per bills raised by ‘S’ assessee had merely reimbursed octroi charges in addition to payment of transportation charges to said ‘S’. It was not requirement of law to deduct tax at source out of reimbursement of expenses, therefore, assessee could not be held to be […...

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Disallowance U/s. 40(a)(i) on commission to foreign agents paid outside India

Eaton Industrial Systems (P) Ltd. Vs Dy. CIT (ITAT Pune)

Eaton Industrial Systems (P) Ltd. Vs DCIT (ITAT Pune) Where assessee-company paid sales commission foreign of agents for securing export orders from the buyers abroad the services were not rendered by such foreign agents in India, and no part of the said income had arisen in India, therefore, TDS was not required to be deductible [&hellip...

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