ITAT Pune

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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TDS U/s. 194C is not applicable to transactions of purchase of goods

Eshan Minerals Pvt. Ltd Eshan Minerals Pvt. Ltd Vs DCIT (ITAT Pune)

TDS requirement under section 194C is not applicable to transactions of purchase of goods, therefore, no disallowance under section 40(a)(ia) could be made....

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Corpus specific voluntary contributions received by trust not registered U/s. 12A/12AA not taxable

ITO Vs Serum Institute of India Research Foundation (ITAT Pune)

ITO (Exemptions) Vs Serum Institute of India Research Foundation (ITAT Pune) Corpus donations received by the Trusts, which is not registered u/s.12A/12AA of the Act, are not taxable as they assume the nature of ‘Capital receipt’ the moment the donations are given to the “Corpus of the Trust”. Provisions of section (24)(iia)/12(1)...

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Deduction U/s. 54F cannot be claimed on Capital gains arising in the hands of spouse

The Assistant Commissioner of Income Tax Vs Shri Ramakant Rajaram Bodke (ITAT Pune)

Deduction under section 54F was in respect of capital gain arising in the hands of wife of assessee, should have been claimed in the return of income filed by the wife of assessee, therefore, claim of assessee under section 54F was liable to be rejected....

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HUF is eligible for Exemption under section 54B only w.e.f. 1-4-2013

Ashok Kisan Bahirat (HUF) & Anr Vs ITO (ITAT Pune)

If intention of Parliament was to include HUF prior to the said date then the amendment would have been carried out in respect of section 54B as well along with section 54. Therefore, amended provisions of section 54B were not applicable retrospectively and assessee-HUF was not entitled to exemption for the year under consideration....

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Order U/s. 201(1) cannot be passed after expiry of limitation period

Vodafone Cellular Ltd. Vs DCIT (ITAT Pune)

Vodafone Cellular recent appeal: No order under section 201(1) of the Act shall be passed after expiry of the limitation period treating assessee-in-default for non-deduction of tax at source...

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Nature of Interest awarded U/s. 28 of Land Acquisition Act, 1894

Dnyanoba Shajirao Jadhav Vs ITO (ITAT Pune)

Dnyanoba Shajirao Jadhav Vs ITO (ITAT Pune) Interest awarded u/s. 23(1A) and 23(2) r.w.s. 28 of the L.A. Act is in the nature of solitium and an integral part of compensation. It is an admitted position that the receipt of compensation awarded under L.A. Act is a capital receipt. Whereas, interest awarded u/s. 34 of the […]...

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Addition to income on account of reversal of provision for royalty deleted in Skoda Auto case

DCIT Vs. M/s. Skoda Auto A.S. (ITAT Pune)

Advocate Akhilesh Kumar Sah DCIT Vs. M/s. Skoda Auto A.S. (ITAT Pune) In this case, one of the ground raised by Revenue was whether in the facts and circumstances of the case, the Dispute Resolution Panel was right in directing AO to delete proposed addition on account of reversal of provision for Royalty of Rs.1,39,18,474/-, […]...

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It is not for the TPO to decide best business strategy for assessee

M/s.Eaton Fluid Power Limited Vs The Asst. (ITAT Pune)

It is not for the TPO to decide the best business strategy for the assessee. The Hon’ble High Court also held that This whimsical fixation by the TPO amounts to an arbitrary and unbridled exercise of power. ...

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Penalty proceedings liable to be quashed for Inconsistency in recording of satisfaction and levy of penalty

Ashok Sahakari Sakhar Karkhana Ltd. Vs. Asst. CIT (ITAT Pune)

Where specific charge for the levy of penalty was not mentioned in the notice issued under section 274 read with section 271(1)(c) and there was vagueness in the recording of satisfaction, the penalty proceedings were liable to be quashed....

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