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Royalty Expenditure is Revenue in Nature, Taxable: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has recently while dismissing an appeal filed before it by the Revenue Department, held...

Goods manufactured in Prison, sold at Arm’s Length for consideration are Taxable: AAR [Read Order]

Interest Income earned by enterprises in Other Jurisdictions is Taxable, if attributable to the PE:...

Excise Duty Subsidy / Excise Rollback is a Capital Receipt, not Taxable: ITAT [Read Order]

Grant of Interest under Arbitral Award for Delayed Payment of Consideration: Bombay HC holds...

Off-Shore Distribution Income is not Taxable from the hands of Non-Resident who did not carry out business in India: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench consisting of Pramod Kumar, Vice President, and Sandeep Singh Karhail, Judicial Member held that Off-Shore Distribution Income is not Taxable...

‘Advance Ruling’ cannot be made for a person not registered with relevant State: AAR [Read Order]

The Telangana Authority for Advance Ruling (Telangana AAR), held that ‘Advance Ruling’ cannot be made for a person not registered in the State of Telangana. The members present were B. Raghu Kiran,...

Receipts in nature of Royalties not Taxable as per India-USA DTAA: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench consisting of B.R.R. Kumar, Accountant Member, and Yogesh Kumar U.S, Judicial Member held that receipts in the nature of Royalties of India- USA...

Interest received on Enhanced Compensation during Land Acquisition is not Taxable: ITAT [Read Order]

While granting exemption under section 10(37) of the Income Tax Act to the assessee, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received on enhanced...

Marine Engines being used as Part of Fishing Vessels attracts 5% GST: AAR [Read Order]

The Tamil Nadu Authority of Advance Ruling ( AAR ) has held that the marine engines being used as part of fishing vessels attracts 5% GST. The applicant, South Indian Federation of Fishermen...

Amount given by HUF to Member, which is not in the Nature of Gift not Taxable: ITAT [Read Order]

The ITAT, Ahmedabad bench has held that the amount received by the assessee from its HUF which is not in the nature of gift or received without consideration shall not be taxable undersection...

Income received in Excess of Face Value of Shares u/s 56 of Income Tax Act is Taxable: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has ruled that, Income received in Excess of Face Value of Shares under Section 56 of the Income Tax Act is Taxable. The assessee is...

Income - share - IT Act - Taxable - ITAT - taxscan

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­­Royalty Expenditure is Revenue in Nature, Taxable: ITAT [Read Order]