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Assignment Agreement not Registered, Can't ignore Actual flow towards Property Acquisition while Computing Capital Gain: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal(ITAT) has held that the Actual flow towards property acquisition while computing capital...

Relief to Sony Pictures: ITAT sets aside Assessment Order passed against Non-Existing entity [Read...

Section 195 has no application once TDS has been made on Salary: Delhi HC upholds order of ITAT...

Relief to Dell International: ITAT rules Amount received towards Warranty is Refundable even on...

Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s....

IBM India not required to deduct TDS on Payment to IBM Philippines for Payroll Related Services: ITAT [Read Order]

In a major relief to IBM India, the Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the Company need not required to TDS on payment to IBM Philippines for rendering of payroll...

Remand Proceedings shall be concluded within Period prescribed u/s 153 of Income Tax Act: Madras HC [Read Order]

The Madras High Court has ruled that, the period of limitation under the Sections 153 (2A) or 153 (3) was applicable even for remand proceedings before the Assessing Officer, Transfer Pricing Officer...

TPO adopts Wrong Gross Profit Margin of Comparable Company: ITAT deletes Transfer Pricing Adjustment on International Transaction [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that Transfer Pricing Officer (TPO) adopts wrong Gross Profit Margin of comparable company and deletes Transfer pricing adjustment...

Corporate Guarantee Falls within the Scope and Ambit of International Transaction, ALP Applicable at 0.5%: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal has held that corporate guarantee falls within the scope and ambit of international transaction and Arm’s Length Price (ALP) applicable at 0.5%. ...

ITAT allows write off of Bad Debts as assessee has successfully discharged its Onus of Proof [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the write off of bad debts as the assessee has successfully discharged its onus of proof. The assessee, GBT India Pvt....

Income Tax: Permanent Establishment of Company fiscally domiciled in UK is not Taxable Unit in India, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the Taxable unit is a Foreign Company and not its branch or Permanent Establishment (PE) in India. The assessee, Morgan Stanley...

Disallowance made for Exempted Income not to be added for Computation of Book Profit: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench ruled that the disallowance made for Exempted Income not to be added for computing of Computation of book profit. The assessee, M/s. Sun...

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