ITAT Judgments

ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

Income Tax - ITAT Directed AO to delete addition on account of capitalisation of royalty expenses by holding it to be revenue in nature as the assessee did not acquire any new asset or any new enduring benefit from it....

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Target marketing on overseas social media or automated advertising platforms not taxable as ‘Royalty’

Income Tax - Target marketing on overseas social media or automated advertising platforms not taxable as ‘Royalty’ In a major relief to taxpayers availing online marketing services from social media platforms like Facebook, the Bangalore bench of Income Tax Appellate Tribunal (ITAT) recently ruled in the case of Urban Ladder Home Décor Soluti...

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Tax Amicus | GST, Customs, Excise, Service Tax & VAT | August 2021

Income Tax - Goods and Services Tax (GST) Notifications and Circulars Requirement of GST audit and reconciliation statement by professionals removed with effect from 1 August 2021: The Ministry of Finance has appointed 1 August 2021 as the date on which the provisions of Sections 110 and 111 of the Finance Act, 2021 have come into force. These [&helli...

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Direct & Indirect Tax Updates July 2021

Income Tax - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT Notified Income Tax Rule 8AC so as to provide for computation of short term capital gains and written down value u/s 50 where depreciation on goodwill is received.  (Notification No. 77/2021-Income Tax [G.S.R. 472(E)]qvc) ♦ CBDT further extends th...

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Dividends of a foreign company received through its Indian depository are not taxable under Indo-Mauritius DTAA

Income Tax - Recently, the Mumbai bench of ITAT has given its final order in the case of Morgan Stanley Mauritius Co. Ltd. v. DCIT,[1] holding that dividend payments made by a foreign company to its domestic depository which were subsequently transferred to IDR holders are not taxable in India under the Indo-Mauritius DTAA. Despite the dividend income...

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Representation for Quick disposal of covered appeals etc. in ITAT

Income Tax - At present appeals are fixed in routine and may take one to two years period even for first hearing. it is humbly submitted that there should be priority disposal of the following categories of cases so that disposal can be fast and pendency can be reduce...

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CBI Registers a Case against ITAT Member on Allegations of Possessing DA

Income Tax - CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportionate Assets (DA). CENTRAL BUREAU OF INVESTIGATION CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal on the Allegations of Possessing Disproportionate Assets Press Release Dated: 02.0...

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e-filing portal of Income Tax Appellate Tribunal launched

Income Tax - Law Minister Shri Ravi Shankar Prasad launches 'itat e-dwar', an e-filing portal of Income Tax Appellate Tribunal. Portal will enable online filing of Appeals, Applications, documents etc. by various parties. Cases of  Income Tax Appellate Tribunal should be integrated in National Judicial Data Grid: Shri Ravi Shankar Prasad...

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Launching of e-Filing Portal of Income Tax Appellate Tribunal

Income Tax - INCOME TAX APPELLATE TRIBUNAL Date : 4th June, 2021 NOTICE Subject : Launching of e-Filing Portal of Income Tax Appellate Tribunal. Whilst the outbreak of COVID-19 Pandemic has posed significant challenges all over the world causing mass disruptions in all sectors, including the justice delivery systems, the Income Tax Appellate Tribunal ...

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ITAT, Mumbai to Resume physical hearing on experimental basis

Income Tax - Resumption of physical hearings, on experimental basis, in the Income Tax Appellate Tribunal, Mumbai benches, with effect from December 7, 2020. The tentative cause lists for A and B bench for the week beginning 7th December 2020 and for C and D benches for the week beginning 14th December 2020 are attached herewith. These cause lists are...

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Loan repayment allowable as Application of Income If Cost of Assets purchased out of Loan was not allowed

Dr. Chandrashekar Foundation Vs CIT (E) (ITAT Bangalore) - Dr. Chandrashekar Foundation Vs CIT (ITAT Bangalore) With regard to issue relating to repayment of loan, we modify the direction of the CIT (Exemptions) and direct the A.O. to examine this claim afresh i.e. if the cost of assets acquired out of loan funds have already been allowed as application of ...

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No special audit if CIT grants approval mechanically to extend limitation period

Rosy Blue (India) Pvt. Ltd. Vs DCIT (ITAT Mumbai) - Since AO had taken recourse to the provisions of section 142(2A) only with a view to extend the period of limitation by virtue of clause (iv) of Explanation 1 to section 153(9) for completion of assessment, without the conditions being satisfied in section 142(2A), therefore, the assessment framed b...

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No addition of unaccounted investment if transactions were via Banking Channels

ITO Vs Vaneet Mittal (ITAT Chandigarh) - Addition on account of investment made from undisclosed sources was deleted as as all transactions were made through banking channels and AO had made the addition in question on assumption and presumption basis....

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No deemed dividend on loan given on interest to Sister Concern for business

TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi) - TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi) The Delhi bench of the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement of working capital for export orders does not attract the provisions of deemed dividend...

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Royalty received under BREW Operator agreement not taxable under India-US DTAA

Qualcom Technologies Inc. Vs DCIT (ITAT Delhi) - Qualcom Technologies Inc. Vs DCIT (ITAT Delhi) ITAT held that Considering the assessment order of the AO wherein he has followed the findings given in earlier assessment years and considering the fact that the same agreement is being carried on since A.Y.2005-06, we do not find any reason in differi...

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Govt appoints Shri G. S. Pannu as President of ITAT

F. No. A-12023(1)/15/2016- Admn.III (LA) - (06/09/2021) - Central Government is pleased to appoint Shri G. S. Pannu, Vice-President of the Income Tax Appellate Tribunal, as President of the Tribunal in officiating capacity with effect from the forenoon of 6th September, 2021, till the regular President is appointed or until further orders, whichever is ear...

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Appointment as ITAT Member- Disparity with CAs

Notification No. G.S.R. 458(E) - (30/06/2021) - Ministry of Finance notified rules for appointment of members in various tribunals on 12.02.2020 in which practice of judicial and accountant members was requiring 25 years of practice. In WP (C) 804 of 2020 dated 27.11.2020 Taking cognizance of this the Honourable SC in Madras Bar Association v. Un...

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Notice issued by officer having no jurisdiction of assessee is null & void

(01/01/1970) - Bhagyalaxmi Conclave Pvt. Ltd. Vs DCIT (ITAT Kolkata) In the remand report, the AO clearly stated that notice u/s 143(2) of the Act was issued by DCIT, Circle-1, Kolkata. The ld. D/R could not controvert the contention of the assessee that no notice u/s 143(2) of the Act was issued by the DCIT-13(1)...

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Extension of ad-hoc appointment of 177 officers to ACIT grade

Office Order No. 08 of 2021 - (08/01/2021) - Office Order No. 08 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appointments of the following officers to the grade of Assistant Commissioner of Income Tax for a period mentioned against their names:-...

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SOP for hearing of cases at ITAT Chandigarh Benches from 04.08.2020

NA - (04/08/2020) - In continuation of the SOP (Standard Operating Procedure) dated 01.06.2020 the hearing of cases at 'ITAT Chandigarh Benches from 04.08.2020 onwards will be done through WEBEX/Google Meet for conducting Virtual Court Proceedings....

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ITAT Judgments’s Popular Posts

Recent Posts in "ITAT Judgments"

Loan repayment allowable as Application of Income If Cost of Assets purchased out of Loan was not allowed

Dr. Chandrashekar Foundation Vs CIT (E) (ITAT Bangalore)

Dr. Chandrashekar Foundation Vs CIT (ITAT Bangalore) With regard to issue relating to repayment of loan, we modify the direction of the CIT (Exemptions) and direct the A.O. to examine this claim afresh i.e. if the cost of assets acquired out of loan funds have already been allowed as application of income, then the repayment […]...

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No special audit if CIT grants approval mechanically to extend limitation period

Rosy Blue (India) Pvt. Ltd. Vs DCIT (ITAT Mumbai)

Since AO had taken recourse to the provisions of section 142(2A) only with a view to extend the period of limitation by virtue of clause (iv) of Explanation 1 to section 153(9) for completion of assessment, without the conditions being satisfied in section 142(2A), therefore, the assessment framed by AO under section 143(3) was barred by ...

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No addition of unaccounted investment if transactions were via Banking Channels

ITO Vs Vaneet Mittal (ITAT Chandigarh)

Addition on account of investment made from undisclosed sources was deleted as as all transactions were made through banking channels and AO had made the addition in question on assumption and presumption basis....

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ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

ITAT Directed AO to delete addition on account of capitalisation of royalty expenses by holding it to be revenue in nature as the assessee did not acquire any new asset or any new enduring benefit from it....

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Posted Under: Income Tax |

No deemed dividend on loan given on interest to Sister Concern for business

TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi)

TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi) The Delhi bench of the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement of working capital for export orders does not attract the provisions of deemed dividend under section 2(22)(e) of the […...

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Royalty received under BREW Operator agreement not taxable under India-US DTAA

Qualcom Technologies Inc. Vs DCIT (ITAT Delhi)

Qualcom Technologies Inc. Vs DCIT (ITAT Delhi) ITAT held that Considering the assessment order of the AO wherein he has followed the findings given in earlier assessment years and considering the fact that the same agreement is being carried on since A.Y.2005-06, we do not find any reason in differing with the view taken by […]...

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PCIT can exercise section 263 powers only in respect of original assessment

Royal Western India Turf Club Vs PCIT (ITAT Mumbai)

Royal Western India Turf Club Vs PCIT (ITAT Mumbai) Undisputedly, the original assessment in case of the assessee was completed under section 143(3) of the Act on 06-02-2014. Subsequently, the assessment was reopened under section 147 of the Act and notice under section 148 of the Act was issued to the assessee on 26-03-2018. The [&hellip...

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Depreciation allowed on new server, storage and accessories procured during the year on lease

DCIT Vs BSE Ltd. (ITAT Mumbai)

Where assessee claimed depreciation on new server, storage and accessories procured during the year on lease and the assessee incurred cost of such asset and was also paying interest on lease; the assessee would be eligible to claim such depreciation....

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No section 271(1)(c) penalty on mere making of unsustainable claim

Tecnotree Convergence Ltd. [now Tecnotree Convergence Private Limited] Vs DCIT (ITAT Bangalore)

Penalty under section 271(1)(c) was not leviable as mere making of a claim which was not sustainable in law, by itself, would not amount to furnishing inaccurate particulars regarding the income of assessee....

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No section 263 Proceedings for related party transaction excluded from definition of specified domestic transaction

Shri Ashish Subodchandra Shah Vs PCIT (ITAT Ahmedabad)

Commissioner issued a show cause notice under section 263 and ultimately passed impugned order; by that time the alleged domestic transaction of purchase from related party was not required to be considered as a specified domestic transaction under section 92BA of the Act. It has been omitted, and therefore, no proceedings under section 2...

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