The Delhi bench of the Income Tax Appellate Tribunal (ITAT), while allowing the plea of a lawyer, held that the payments made by him towards filing for World Intellectual Property and Trade Fair Services are not in the nature of “Fee for Technical Services” and therefore, …
Judgment:- In a relief to the State Bank of India (SBI), the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition made on account of deferred payment guarantee commission. Interpretation of law & Conclusion:- The Coram of Judicial Member, Saktijit Dey, and Accountant Member, …
Judgment:- The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the bank guarantee commission is not subject to tax deduction at source (TDS) under section 194H of the Income Tax Act, 1961. The assessee, a company, filed its income tax return. Facts …
Judgement:- In relief to the Reliance Industries, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the revision by Pr. CIT(A) was not justified in case AO conducted the proper enquiry. Facts of the case:- As per the provisions of Section 263 of Income …
Judgment:- The Amritsar bench of the Income Tax Appellate Tribunal (ITAT) ruled that 60% Depreciation is not allowable on iPad as it is not a PC. Facts of the case:- The assessee, M/s Kohinoor Indian raised the issue of whether the iPad falls in the definition …
In a relief to Urban Ladder Home Décor Solutions, the Bangalore Bench of Income Tax Appellate Tribunal (ITAT) ruled that Payments to Facebook, AWS for advertising, marketing are not taxable as Royalty. Facts of the case:- The assessee, Urban Ladder Home Décor Solutions Pvt. Ltd. is …
In a relief to Urban Ladder Home Décor Solutions, the Bangalore Bench of Income Tax Appellate Tribunal (ITAT) ruled that the assessee is not liable to deduct TDS on payments made to Non-Resident Companies. Facts of the case:- The assessee, Urban Ladder Home Décor Solutions Pvt. …
In a major relief to Good Year India, the Income Tax Appellate Tribunal (ITAT), Delhi has allowed the Company’s plea to allow advertisement expenses incurred for the brand promotion. Facts of the case:- The assessee company is engaged in the manufacturing/trading of tyres and related products. …
The Income Tax Appellate Tribunal (ITAT), Raipur has recently quashed a re-assessment against the South-Eastern Coalfield Limited (SECL) wherein a claim of Rs. 577 Lakhs towards Provision of Leave Encashment was disallowed by the income tax department. Facts of the case:- The appellant-Company approached the Tribunal …