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Working capital adjustment subsumes sundry creditors- No further TP adjustment for outstanding receivables

Case Name : Blue Coat Network (India) Private Limited Vs DCIT (ITAT Bangalore)
Appeal Number : IT(TP)A No. 78/Bang/2019
Date of Judgement/Order : 23/11/2020
Related Assessment Year : 2014-15
Courts : All ITAT (14947) ITAT Bangalore (1081)
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Interest on business advances held as fixed deposit is Business Income

Case Name : ACIT Vs National Film Development Corporation Ltd. (ITAT Mumbai)
Appeal Number : ITA No. 444/Mum/2019
Date of Judgement/Order : 18/11/2020
Related Assessment Year : 2013-14
Courts : All ITAT (14947) ITAT Mumbai (3583)
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Income under Project completion method taxable only in year of project completion

Case Name : CIT Vs Jalaram Jagruti Development Pvt. Ltd. (Bombay High Court)
Appeal Number : INCOME TAX APPEAL No. 4104 of 2009
Date of Judgement/Order : 22/11/2020
Related Assessment Year : 2008-09
Courts : All High Courts (13939) Bombay High Court (1880)
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Foreign tax credit available even on income not subjected to tax in India except foreign tax paid in Finland & Canada

Case Name : Tata Consultancy Services Ltd. Vs Addl. CIT (ITAT Mumbai)
Appeal Number : IT(TP)A No. 3262/MUM/2017
Date of Judgement/Order : 11/11/2020
Related Assessment Year : 2007-08
Courts : All ITAT (14947) ITAT Mumbai (3583)
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No TP adjustment for delayed receivables if Same is already been factored in working capital adjustment

Case Name : Barco Electronic Systems (P) Ltd. Vs DCIT (ITAT Delhi)
Appeal Number : ITA No. 1531/Del/2016
Date of Judgement/Order : 11/11/2020
Related Assessment Year : 2011-12
Courts : All ITAT (14947) ITAT Delhi (3704)
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ITAT excludes comparable having turnover more than 31 to 62 times

Case Name : Transcend MT Services Pvt. Ltd. Vs DCIT (ITAT Delhi)
Appeal Number : ITA No. 2229/Del/2015
Date of Judgement/Order : 18/11/2020
Related Assessment Year : 2010-2011
Courts : All ITAT (14947) ITAT Delhi (3704)
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TDS not deductible on Agency Commission paid to Overseas Agents not having PE in India

Case Name : DCIT Vs Shamrock Pharmachemi Pvt.Ltd. (ITAT Mumbai)
Appeal Number : ITA Nos. 862 & 863/Mum/2018
Date of Judgement/Order : 11/11/2020
Related Assessment Year : 2013-14 & 2014-15
Courts : All ITAT (14947) ITAT Mumbai (3583)
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Interest paid on borrowed funds used for business cannot be disallowed

Case Name : ACIT Vs Chinsha Property Pvt Ltd. (ITAT Mumbai)
Appeal Number : ITA No. 2719/MUM/2019
Date of Judgement/Order : 13/11/2020
Related Assessment Year : 2012-13
Courts : All ITAT (14947) ITAT Mumbai (3583)
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Section 41(1) No Addition without evidence of cessation of trading liability

Case Name : Nama Properties Ltd. Vs DCIT (ITAT Hyderabad)
Appeal Number : ITA No. 1831/Hyd/2017
Date of Judgement/Order : 05/03/2020
Related Assessment Year : 2012-13
Courts : All ITAT (14947) ITAT Hyderabad (630)
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No section 54 Deduction denial for mere Non-Completion of Construction of New House

Case Name : Estate of Late Dr. S. Zakaulla Masood Vs ITO (ITAT Bangalore)
Appeal Number : ITA No. 775/Bang/2018
Date of Judgement/Order : 14/10/2020
Related Assessment Year : 2010-11
Courts : All ITAT (14947) ITAT Bangalore (1081)
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