The Karnataka High Court held that the Third Party Administrator (TPA) is required to deduct tax at source (TDS) on payments made to hospitals under Section 194J of the Income Tax Act. The assessee, TTK...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while remitting the matter back to the CIT(A) ruled that the CIT(A) ought to analyse nature of service undertaken by assessee and taxation of fees for technical...
The Income Tax Department notifies ‘Form 3CD Schema Changes’ under e-Filing Project released New Tax Audit utility, Schema Version 1.21. Form 3CD consists of the statement of particulars required to be furnished under section 44AB...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the Assessing Officer (AO) is not empowered to reject selection and valuation methods adopted by taxpayers. The assessee company, M/s. GSE Commerce Private Ltd. operates...
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench imposed the penalty for failure to maintain Transfer Pricing Documents under and Section 271AA. The assessee, Convergys Customer Management Group Inc. is a non-resident company incorporated...
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the Cost allocation of international freight logistic support services and reimbursement of Global Account Management (GAM) expenses can not be treated as Technical Services or...
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the Income received for sale of specialized software and maintenance and support services is not “Royalty” as per India-Finland Tax Treaty. The assessee, Trimble Solutions...
The Madras High Court while upholding the order of the tribunal disallowed interest and additional expenditure incurred on account of exchange fluctuation. The assessee, M/s.Continuum Wind Energe (India) Pvt. Ltd. is a company engaged in...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that Acer India can not be fastened with liability to Tax Deducted at Source (TDS) retrospectively in respect of payments made for purchase of licensed software....
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench deleted the penalty for failure to deduct tax at source (TDS) against Canara Bank. The Assessee, M/s. Canara Bank is a nationalised bank, carrying on banking business...
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench while setting aside the order passed by the Assessing Officer deleted the disallowance against the Coffeeday Enterprises. The assessee, M/s Coffeeday Enterprises Ltd. is engaged in the...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while directing the AO to delete the disallowance held that disallowance of depreciation on Software can not be made under section 40(a)(ia) of the Income Tax Act....
The Madras High Court held that the advance received by the respondent (which is returnable due to the failure of the development agreement) from the developer was not to be treated as income in the...
The Karnataka High Court held that the assessee is eligible for exemption under Section 54F of the Income Tax Act for the investment made in the house property in the USA. The assessee is a...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the balance of convenience is in favour of the assessee in extending the stay, even though this is the second extension. The assessee, United Spirits...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that The entitlement earned for carbon credits is a capital receipt and cannot be taxed as a revenue receipt. The assessee, M/s. Bhoruka Power Corporation Ltd....
The Madras High Court while quashing the order of the tribunal held that though the tribunal directed the assessee to work out the expenditure component towards administrative and managerial aspect so that the same shall...
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has held that the contractors performing the work in the nature of a developer-cum-contractor are still eligible to claim deduction under section 80-IA(4) of the...
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition cannot be made against an individual member of the family agrees that the gold in possession belongs to them. The...
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 50C of the Income Tax Act, 1961 cannot be applied in cases where the market value of the...
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has passed a women-friendly ruling wherein the assessee, a housewife, is not so familiar to the tax proceedings, was granted a fresh opportunity to submit the documents...
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