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Last Updated : Friday 18th July, 2014 - 2:47pm

Industry against mandatory deposit clause in tax disputes Continue reading | Definitive anti-dumping duty imposed on imports of Rubber Chemicals, namely, MBT, CBS, TDQ, PVI, TMT and PX-13(6PPD) originating in or exported from the People's Republic of China and PX-13(6PPD) originating in or exported from Korea RP Continue reading | Anti-dumping duty on “Potassium Carbonate”, falling under Chapter 28 of the First Schedule to the Customs originating in, or exported from, the European Union, the People's Republic of China, Korea RP and Taiwan extended till 9 th june 2015 Continue reading | Hindon, Ghaziabad notified for unloading of imported goods and loading of export goods or any class of such goods related to Ministry of Defence , Government of India Continue reading | Exchange Rate for the purpose of import and export with effect from 18-7-2014 Continue reading | Govt reduces Tariff value of Gold and increase the tariff value of silver, palm oil, palmolein Continue reading | Foreign Direct Investment (FDI) in India - Issue/Transfer of Shares or Convertible Debentures - Revised pricing guidelines. Continue reading | Effect of this Public Notice : VKGUY benefit on Skimmed Milk Powder has been withdrawn. Continue reading | SIONs A1143, A1170, A3627 and K134 have been reinstated with the amendment that the import items listed in column 3 have been substituted by items listed in column 4 Continue reading | Seeks to specify class of persons for the purposes of section 23A of the Central Excise Act, 1944. Continue reading |
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Category Archives: ITAT


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-1212-ITAT-Baker Hughes Asia Pacific Ltd. -Vs- Additional Director of Income-tax, International Taxation , On. JULY  11, 2014 

 Insertion of the words “section 44DA” in the proviso to section 44BB(1) by the Finance Act,2010 w.e.f.1-4-2011 is prospective and not retrospective. Amendment cannot be held to be retrospective particularly because it brings substantial change in the taxability of the assessee Continue reading

2014-ITS-1091-ITAT-Jai Surgicals Ltd. -Vs- Assistant Commissioner of Income-tax, Circle -4 (1) , On. JUNE  26, 2014 

The offence or prohibition under law referred to in Explanation to section 37(1) should be judged with reference to the ‘purpose’ of the expenditure on a standalone basis divorced from the fulfilment or otherwise of the procedural formalities ( for example requirements of Companies Act like Board’s consent, general body approval, Central Govt’s approval) attached with and necessary for the incurring of such expenditure. Continue reading

2014-ITS-1090-ITAT-Allahabad Bank -Vs- Income Tax Officer (TDS & Survey), Aligarh , On. JUNE  20, 2014

 Recovery provisions under Section 201(1) can be invoked only when loss to revenue is established; that can only be established when it is demonstrated that the recipient of income had not paid due taxes thereon and the recipient of the accounts had the liability to tax Continue reading

2014-ITS-1089-ITAT-Deputy Director of Income-tax (IT)3(1) -Vs- IATA BSP India , On. JUNE  11, 2014 

Where assessee, a branch office of IATA, Canada, made payment to a French Company for providing BSP link whereby manual operations such as issue of debit notes/credit notes, issue of refund, billing statement and all information relating to air tickets were carried out electronically, in view of fact that by rendering said link services French company did not make available to agents/Air lines including assessee any technical knowledge, experience, skill, know-how or processes so as to enable them to apply said technology independently, payment in question did not amount to “fees for technical services” as envisaged in Article 13 of the DTAA between India and France read with clause 7 of the Protocol thereto. Continue reading

2014-ITS-1066-ITAT-Kerala Vision Ltd. -Vs- Assistant Commissioner of Income-tax, Circle -1(1), Trichur , On. JUNE  6, 2014 

Payment made by the assessee as “Pay Channel Charges” is “royalty” as defined in clause (i) of Explanation 2 to sec. 9(1) of the Act in view of Explanation 6 below clause (vi) of sub-section (1) of sec. 9 defining the word “process” Continue reading

2014-ITS-986-ITAT-Rajeev Kumar Agarwal -Vs- Additional Commissioner of Income-tax, Range -3, Mathura , On. MAY  29, 2014 

Second proviso to sec. 40(a)(ia) is effective retrospectively even if it was inserted by Finance Act, 2012 prospectively from April 1, 2013 Continue reading

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