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Last Updated : Monday 8th September, 2014 - 1:37pm

CBEC CIRCULAR NO-984/08/2014-CX., Dated: September 16, 2014- CBEC issues clarification Continue reading | Govt reduces tariff value of many goods across board Continue reading | Exchange Rate for the purpose of import and export with effect from  5th September , 2014 Continue reading | Village Mithirohar , Gandhidham notified for unloading of imported goods and loading of export goods Continue reading | COMPULSORY MANUAL SELECTION OF CASES FOR SCRUTINY DURING FINANCIAL YEAR 2014-15 Continue reading | CBDT revises monetary limits for filing appeals; issues measures to reduce litigation Continue reading | Govt cuts down tariff value for gold and silver Continue reading | Govt levies provisional safeguard duty on imports of Saturated Fatty Alcohols Continue reading | Service Tax (Second Amendment) Rules, 2014- New rules 11 & 12 inserted to provide for determination of Rate of exchange & Power to issue supplementary instructions Continue reading | Service Tax on Radio Taxi services, Ads in internet websites & on film screen in theatres to be effective from Oct 1, 2014 Continue reading |
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Category Archives: ITAT


2014-ITS-1519-ITAT-Jcdecaux Advertising India (P.) Ltd. -Vs- Deputy Commissioner of Income-tax, Circle-4(1) , On. SEPTEMBER  8, 2014 

Where in pursuance of contract awarded by NDMC for construction of Bus Queue Shelters (BQS), assessee entered into manufacturing agreement with third party for manufacture and installation of BQS and also made advance payment, assessee’s business could be said to commence in relevant year and, therefore, revenue authorities were not justified in rejecting assessee’s claim for deduction of certain expenses taking a view that said expenses were in nature of pre-operative expenses as business would be set up in a subsequent year when BQSs would be ready for providing space to assessee for advertisement Continue reading

2014-ITS-1520-ITAT-Vijay V. Meghani -Vs- Deputy Commissioner of Income-tax, 23(3) , On. AUGUST  20, 2014

Where assessee filed appeal with a delay of more than eight years against denial of deduction under section 80-O contending that said delay was caused due to advice given by Chartered Accountant to effect that since appeal on similar issue was already pending before Tribunal for earlier year and it was only on basis of decision in said appeal, a rectification application could have been filed before Assessing Officer, it was opined that said absurd advice could not have been given by Chartered Accountant and, therefore, appeal filed belatedly was to be dismissed being barred by limitation Continue reading

2014-ITS-1397-ITAT-Swiber Offshore Construction Pte. Ltd. -Vs- Additional Director of Income-tax (International Taxation), Range -2, Mumbai , On. AUGUST  6, 2014 

 Where DRP instead of clearly adjudicating issue relating to existence of assessee’s PE in India, remanded matter back to Assessing Officer to decide said issue after taking into consideration various evidences filed by assessee, order so passed being in violation of provisions of section 144C(8), was to be set aside Continue reading

2014-ITS-1398-ITAT-GECF Asia Ltd. -Vs- Deputy Director of Income-tax, International Taxation -3(1), Mumbai , On. AUGUST  6, 2014 

The royalty payment received as consideration for information concerning industrial, commercial, scientific experience alludes to the concept of knowhow. There is an element of imparting of knowhow to the other, so that the other person can use or has right to use such knowhow. In case of industrial, commercial and scientific experience, if services are being rendered simply as an advisory or consultancy, then it cannot be termed as “royalty”, because the advisor or consultant is not imparting his skill or experience to other, but rendering his services from his own knowhow and experience. Continue reading

2014-ITS-1484-ITAT- Cosmic Global Ltd. -Vs- Assistant Commissioner of Income Tax, Company Circle -I(3) , On. JULY  30, 2014 

Translation services involving translation of text from one language to another were not technical services and, therefore, payment made by assessee to non-resident translators would not fall within scope of ‘fees for technical, managerial or consultancy services’ as mentioned in Explanation 2 to section 9(1)(vii) Continue reading

2014-ITS-1216-ITAT-Reuters Transaction Services Ltd. -Vs- Deputy Director of Income-tax (International Taxation )-2(1) , On. JULY  18, 2014 

Where, assessee, a UK based company, entered into a contract with Indian clients for providing its foreign exchange deal matching system services, in view of fact that in terms of contract, assessee allowed its subscribers to use software and computer system to have access to its portal for finding relevant information and matching their request for purchase and sale of foreign exchange, it amounted to imparting of information concerning technical, industrial, commercial or scientific equipment work and payment made in respect of same would constitute royalty in terms of article 13(3) of India-UK DTAA Continue reading

2014-ITS-1215-ITAT-Boskalis International Dredging International CV -Vs- Deputy Director of Income-tax -3(2), International Taxation ,On. JULY  18, 2014 

When the transactions are influenced by each other, particularly in determining the price/profit involved in the transactions then those transactions would be regarded as ‘closely linked’ transactions Continue reading

2014-ITS-1214-ITAT-Raj Kumari Agarwal -Vs- Deputy Commissioner of Income-tax, Circle -2, Agra , On. JULY  18, 2014 

In order to protect interest earnings from fixed deposits and to meet her financial needs, when an assessee raises a loan against the fixed deposits, so as to keep the source of earning intact, the expenditure so incurred in wholly and exclusively to earn fixed deposit interest income has to be allowed as deduction Continue reading

2014-ITS-1213-ITAT-MISC Berhad -Vs- Assistant Director of Income-tax (International Taxation), Range -4(1) , On. JULY  16, 2014 

 Benefit of Article 8 of the Indo-Malaysia DTAA is also applicable to shipping of goods from Indian Port to Hub Port using feeder vessels under a space charter or slot charter as the entire voyage from the Indian Port to final destination port is inextricably linked and cannot be segregated. “Operation of ship” for Article 8 purposes can be done as charterer which does not mean to own or control the ship either as owner or as a lessee The word “charterer” should not be confused with the word “owner” or “lessee”. The word “charterer” cannot be interpreted as analogous to “owner” or “lessee” by applying noscitur a socii Continue reading

2014-ITS-1434-ITAT-M. Dinshaw & Co. (P.) Ltd. -Vs- Deputy Commissioner of Income-tax, Central Circle -7, Mumbai , On. JULY  14, 2014 

Para 20 of Accounting Standard (AS)10 Accounting for Fixed Assets requires that the cost of a fixed asset should comprise its purchase price and any attributable cost of bringing the asset to its working condition for its intended use. One-time tax for the life time of “all motor cars and omnibuses used or kept for use” in the State of Maharashtra under the Bombay Motor Vehicles Tax Act, 1958 is a tax for user, active or passive, of the motor vehicle in the territory of Maharashtra . Continue reading

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