Sunayana Dhal
Supreme Court and High Court Weekly Round-Up
This weekly round-up analytically summarises the key tax judgments of the Supreme Court and all High Courts reported at Taxscan.in during the...
![Non-compliance of Notices: ITAT imposes cost of Rs 5000 on Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-compliance-of-Notices-Notices-Non-compliance-ITAT-Assessee-taxscan-.jpg "Non-compliance of Notices: ITAT imposes cost of Rs 5000 on Assessee [Read Order]")
![Broadcasting Production Right doesnt fall under the Ambit of Royalty under Article 12 of U.S. Treaty: ITAT grants relief to Fox International Channels [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Broadcasting-Production-Ambit-Royalty-U-S-Treaty-ITAT-relief-Fox-International-Channels-TAXSCAN.jpg "Broadcasting Production Right doesnt fall under the Ambit of Royalty under Article 12 of U.S. Treaty: ITAT grants relief to Fox International Channels [Read Order]")
![Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/invoked-Expenditure-incurred-CSR-allowed-AO-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]")
![Compensation received by Echjay Industries on account of Defective Product cannot be adjusted with WDV of Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Compensation-Echjay-Industries-account-Defective-Product-adjusted-WDV-Assets-ITAT-TAXSCAN.jpg "Compensation received by Echjay Industries on account of Defective Product cannot be adjusted with WDV of Assets: ITAT [Read Order]")
Disallowance of Expenditure u/s 14A can't be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to the Central Bank of India, held that the disallowance of expenditure under Section 14a of the Income Tax Act,...
![Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-of-Expenditure-Income-earning-securities-Stock-in-trade-ITAT-grants-relief-Central-Bank-of-India-taxscan.jpg "Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]")
"Other Method" as per Rule 10AB is most appropriate for determining Arm's length Price of Royalty Transaction: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the “Other method” as per Rule 10AB shall be the most appropriate method for determining the arm’s length price of royalty...
![Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Other-Method-most-appropriate-determining-Arms-length-Price-Royalty-Transaction-ITAT-most-appropriate-method-for-determining-taxscan.jpg "Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]")
Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while granting relief to Aditya Birla Nuvo group, held that the investment that had yielded the exempt income shall be considered for the...
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")
Penalty on Disallowance u/s 24a of Income Tax Act can't be imposed on ground of Wrong treatment to head of Income: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty on disallowance under Section 24a of the Income Tax Act, 1961 cannot be imposed merely on the ground of wrong...
![Penalty on Disallowance u/s 24a of Income Tax Act cant be imposed on ground of Wrong treatment to head of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Disallowance-Income-Tax-Act-ground-Wrong-treatment-Income-ITAT-TAXSCAN.jpg "Penalty on Disallowance u/s 24a of Income Tax Act cant be imposed on ground of Wrong treatment to head of Income: ITAT [Read Order]")
Penalty u/s 271B of Income Tax Act shall not be imposed unless Assessee has been given a Reasonable Opportunity of being heard: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty under Section 271B of the Income Tax Act, 1961 shall not be imposed unless the assessee has been given a reasonable...
![Penalty u/s 271B of Income Tax Act shall not be imposed unless Assessee has been given a Reasonable Opportunity of being heard: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Income-Tax-Act-Assessee-Reasonable-Opportunity-heard-ITAT-TAXSCAN.jpg "Penalty u/s 271B of Income Tax Act shall not be imposed unless Assessee has been given a Reasonable Opportunity of being heard: ITAT [Read Order]")
Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the technical know-how fee received by Bajaj Auto Ltd. falls under the category of royalty and hence is eligible for deduction...
![Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Technical-fee-Bajaj-Auto-ltd-Royalty-eligible-deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]")
