HCG Global Communications Ltd. vs. DCIT (ITAT Bangalore) case ruling: Telecom interconnect usage payments received by a foreign company from an Indian operator deemed non-taxable as ‘royalty’ under the Income Tax Act.
In the case of Aurobindo Pharma Limited Vs ACIT before the ITAT Hyderabad, a Miscellaneous Application (MA) was dismissed as it raised arguments not presented during the main appeal and emphasized the restricted scope of Section 254(2).
Rajasthan High Court rules in Chandigarh Manav Vikas vs Chief Commissioner of Income Tax case: Trust generating surplus still eligible for Section 10(23C) (vi) exemption. Details here.
In the case of Dhanterash Sales Pvt. Ltd. Vs ITO, ITAT Kolkata ruled that the assessment order was deemed time-barred due to lack of evidence for timely issuance, dismissing the additions made by the Assessing Officer.
Calcutta High Court dismisses PCIT’s appeal, reaffirming that the least complex party should be the tested entity in transfer pricing transactions, citing relevant precedents.
Mumbai ITAT rules that a retracted statement without nexus to the taxpayer cannot justify addition under Sec 69A, offering relief to the appellant in Mayur Kanjibhai Shah Vs ITO.
ITAT Mumbai held that rate of interest @18% paid to related party towards unsecured loan is reasonable as rate of interest charged by bank @12% is with security, whereas, rate of interest charged on unsecured loan is without any security.
Explore the detailed analysis of the ITAT Delhi order in the case of Himenviro Environmental Engineering Co. Pvt. Ltd. vs ACIT, focusing on product development expenses, liquidated damages, and more.
Mumbai ITAT directs AO to reconsider immunity from penalty u/s 270AA for Prathamesh Vivek Khot vs ITO. Error in Form 68 caused delay. Detailed analysis & implications.
Mumbai ITAT allows depreciation on ‘right to collect toll tax’ on infrastructure facilities for Roadstar Investment vs ACIT. Detailed analysis and implications provided.
