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Last Updated : Tuesday 17th February, 2015 - 2:37pm

CBDT issues clarification regarding Explanation 5 to clause (i) of sub-section (1) of section 9 of Income-tax Act, 1961 ('Act') Continue reading | Finmin launches national electronic I-T judicial database Continue reading | Rate of exchange for conversion of Norwegian Kroner with effect from 26th March, 2015 Continue reading | PAN mandatory for service tax registration: FinMin Continue reading | Removal of M/s. Siddhartha Testing and Consulting Services, Nepal from the list of Inspection and Certification Agencies Continue reading | CBEC notifies New Customs Exchange rates for all foreign currency with effect from 20th March, 2015 Continue reading | Income-tax (Third Amendment) Rules, 2015 - Application for rollback of an Advance Pricing Agreement  Continue reading | CBDT issues instructions related to non-migration of PAN due to pending refund caging Continue reading | Two new Customs Ports, Kattupalli Port and APM Terminals, Pipavav Port are being added to the list of 12 existing ports/ICDs Continue reading | Amendments/additions to Categories 2, 3, 5 & 7 of SCOMET list [Appendix 3 to Schedule 2 of ITC(HS) Classification of Export & Import Items] have been notified. Continue reading |
Category Archives: ITAT


2015-ITS-97-ITAT- Louis Dreyfus Armateures SAS -Vs- ADIT, International Taxation , On. FEBRUARY  17, 2015

The basic condition to be satisfied for applicability of section 44BB is that the plant or machinery(which term includes ship) supplied or rented on hire by the assessee-non-resident should be used in the prospecting for or extraction or production of minerals oils or where equipment has been supplied, such equipment should have been used for the purposes of prospecting for or extraction or production of mineral oils. There is nothing in the said provision so as to disentitle a sub-contractor from invoking the said provision. Continue reading

2015-ITS-158-ITAT-Zanav Home Collection -Vs- Joint Commissioner of Income-tax, Range 10, Bangalore* , On. FEBRUARY  13, 2015 

No TDS on export commission paid to NR agent for rendering services abroad in absence of his PE in India Continue reading

2015-ITS-159-ITAT-A. W. Faber Castell (India) (P.) Ltd. -Vs- Deputy Commissioner of Income-tax, Circle-9(1)(1), Mumbai* , On. FEBRUARY  13, 2015 

Where for computing of AMP expenses, Assessing Officer had included free samples to distributors, additional discount to distributors and buyers, assessee had good prima facie case for grant of stay on demand arising out of T.P. adjustment Continue reading

I2015-ITS-91-ITAT- K.G.N.M.M.W. Educational Research & Analysis Society -Vs- Income-tax Officer, Jhalawar , On. FEBRUARY  13, 2015 

It is unbelievable that an assessee, who is assessed for 2 years at a high income resulting in a huge tax and interest demand, has not visited the CA office almost for a period of about one year to know about the filing of the appeals. There is no deposition in the affidavit of CA filed by assessee that prior to TRO notice, no other notice by way of telephone or writing was received either by assessee or the CA.

Continue reading

2015-ITS-92-ITAT-McKinsey Business Consultants Sole Partner Limited Liability Company MEPE -Vs- Deputy Director of Income-tax (IT)-4(1) , On. FEBRUARY  13, 2015 

Consideration received from providing assistance in the form of borrowed service to associated enterprise was business income in absence of FTS clause in India-Greece DTAA Continue reading

2015-ITS-157-ITAT-Goldman Sachs Services (P.) Ltd. -Vs- Income-tax Officer, Ward- 10(3)(3), Mumbai* , On. FEBRUARY  6, 2015 

Where TPO made addition to assessee’s ALP in respect of rendering ITES services to its AE, in view of fact that two comparables selected by TPO were inappropriate on account of happening of extraordinary event of amalgamation, impugned addition made to assessee’s ALP deserved to be deleted Continue reading

2015-ITS-90-ITAT-Flag Telecom Group Ltd. -Vs- Deputy Commissioner of Income-tax, Circle -2(1), Mumbai , On. FEBRUARY  6, 2015 

In case of ‘royalty’, the complete ownership in the equipment is never transferred to the other party. What is envisaged in section 9(1)(vi) read with Explanation thereto, is consideration for use or rights to use of any equipment. Continue reading

2015-ITS-156-ITAT-Triniti Advanced Software Labs (P.) Ltd. -Vs- Income-tax Officer, Ward 2 (2), Hyderabad* , On. FEBRUARY  4, 2015 

Where TPO has expressed his inability in finding a comparable under CUP method, there is no other choice left to TPO but to accept price charged by assessee as ALP Continue reading

2015-ITS-89-ITAT-R.A.K. Ceramics India (P.) Ltd. -Vs- Deputy Commissioner of Income-tax, Circle- 3 (1), Hyderabad* , On. FEBRUARY  4, 2015 

Where TPO had not even brought a single comparable to justify arm’s length percentage of royalty either under CUP or TNMM , approach of TPO in estimating royalty at 2 per cent as against 3 per cent as claimed by assessee being in complete violation of TP provisions had to be struck down Continue reading

2015-ITS-88-ITAT- Aithent Technologies (P.) Ltd. -Vs- Income-tax Officer, Ward -1(3), New Delhi , FEBRUARY  3, 2015 

Since the branch office in Canada is only a branch office and not a separate entity distinct from the assessee, the transactions between the head office and branch office in Canada cannot be considered as international transaction Continue reading

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