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270 orders · Page 4 of 6
The Tribunal noted that while the assessee might not be liable for TDS on software imports based on Supreme Court rulings, the issue of whether TDS was actually deducted and credited to the foreign company needed verification. The matter was remitted to the Assessing Officer to determine this fact.
The Tribunal noted that while the assessee might not be liable for TDS on software imports based on Supreme Court rulings, the issue of whether TDS was actually deducted and credited to the foreign company needed verification. The matter was remitted to the Assessing Officer to determine this fact.
The Tribunal held that expenses reduced from export turnover should also be reduced from total turnover for Section 10AA deduction, following Supreme Court precedent. It also ruled that the AO must examine the assessee's working for Section 14A disallowance before resorting to Rule 8D.
The Tribunal held that expenses reduced from export turnover should also be reduced from total turnover for Section 10AA deduction, following Supreme Court precedent. It also ruled that the AO must examine the assessee's working for Section 14A disallowance before resorting to Rule 8D.
The Tribunal held that expenses reduced from export turnover should also be reduced from total turnover for Section 10AA deduction, following Supreme Court precedent. It also ruled that the AO must examine the assessee's working for Section 14A disallowance before resorting to Rule 8D.
The Tribunal held that the assessee failed to furnish necessary details to the Assessing Officer to substantiate its claim for deduction under Section 80P(2)(a)(iii). However, in the interest of natural justice, the assessee was given an opportunity to provide these details.
The Tribunal held that the sale proceeds from software licenses are not royalty income, following the Supreme Court's decision in Engineering Analysis Centre of Excellence Pvt. Ltd. The Tribunal also upheld the CIT(A)'s decision to delete the interest charged under Section 234B, as the assessee was not liable to pay advance tax due to sufficient TDS credit.
The Tribunal held that fixed deposits cannot be treated as application of income under Section 11(1)(a) as the assessee failed to demonstrate that the funds were earmarked for charitable purposes. However, regarding accumulation under Section 11(2), the Tribunal found that Form No. 10 was filed before the completion of assessment and restored the issue to the AO for fresh consideration.
The assessee requested to withdraw the appeals as the issue of interest under Section 234E was settled by payment. The Tribunal allowed the withdrawal of the appeals.
The assessee requested to withdraw the appeals as the issue of interest under Section 234E was settled by payment. The Tribunal allowed the withdrawal of the appeals.
The assessee requested to withdraw the appeals as the issue of interest under Section 234E was settled by payment. The Tribunal allowed the withdrawal of the appeals.
The Tribunal held that the provision for long service benefit liability, when made in accordance with accounting standards and actuarial valuation, is allowable as a deduction. The CIT(A)'s disallowance was based on an incorrect interpretation of when the liability accrues.
The Tribunal allowed the assessee's request to withdraw the appeal. The assessee submitted a letter requesting the withdrawal, stating that the provision of Rs. 99,80,000/- made for the Chikodi Project was withdrawn in Financial Year 2013-14 (Assessment Year 2014-15), and the tax return for that year was accepted by the department. Consequently, the disallowance made in Assessment Year 2007-08 was negated. The assessee concluded that there was no amount payable by the company or demand outstanding. The learned DR did not object to this prayer. Based on these submissions, the Tribunal found the appeal to be infructuous and allowed it to be withdrawn. The operative direction was that the appeal was dismissed as withdrawn.
The Tribunal allowed the assessee's prayer to withdraw the present appeal. The appeal was dismissed as withdrawn based on the submissions made by the assessee's counsel.
The Tribunal held that the contribution to the Federation of Indian Mineral Industries (FIMI) for its building fund and legal expenses was incurred for commercial consideration and to safeguard business interests, thus allowable as revenue expenditure. Other grounds were also considered.
The Tribunal held that the provision for long service benefit liability, when made in accordance with accounting standards and actuarial valuation, is allowable as a deduction. The CIT(A)'s disallowance was based on an incorrect interpretation of when the liability accrues.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the deduction. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units leased to TCS.
The Tribunal held that the payments made for using online advertising platforms and IT infrastructure facilities do not constitute royalty under the Income Tax Act or Double Taxation Avoidance Agreements. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal held that the payments made for using online advertising platforms and IT infrastructure facilities do not constitute royalty under the Income Tax Act or Double Taxation Avoidance Agreements. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal held that the payments made for using online advertising platforms and IT infrastructure facilities do not constitute royalty under the Income Tax Act or Double Taxation Avoidance Agreements. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal held that the payments made for using online advertising platforms and IT infrastructure facilities do not constitute royalty under the Income Tax Act or Double Taxation Avoidance Agreements. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal dismissed the assessee's grounds of appeal regarding the disallowance of lease rental expenses and amortization of lease expenses. The decision followed previous orders of the Tribunal in the assessee's own case.
The Tribunal dismissed the assessee's grounds of appeal regarding the disallowance of lease rental expenses and amortization of lease expenses. The decision followed previous orders of the Tribunal in the assessee's own case.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the deduction. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units leased to TCS.
The Tribunal condoned the delay in filing the appeal, acknowledging the assessee's bonafide pursuit of an alternative remedy. The CIT(A) was directed to expeditiously dispose of the assessee's rectification application concerning the Section 80IA deduction.
The Tribunal noted that the issues in the appeal were settled under the Vivad Se Vishwas Act. Therefore, the appeal was dismissed as withdrawn, with liberty to seek recall if circumstances warranted.
The Tribunal dismissed the assessee's grounds of appeal regarding the disallowance of lease rental expenses and amortization of lease expenses. The decision followed previous orders of the Tribunal in the assessee's own case.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the tax benefit. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the deduction. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units leased to TCS.
The Tribunal held that the payments made for using online advertising platforms and IT infrastructure facilities do not constitute royalty under the Income Tax Act or Double Taxation Avoidance Agreements. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal held that the India-Tanzania Double Taxation Avoidance Agreement (DTAA) is similar to the India-Korea DTAA, where FTC is limited to the lower of tax paid abroad or tax payable in India on doubly taxed income. The issue of deduction under Section 80G was remitted to the AO.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the deduction. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units leased to TCS.
The Tribunal upheld the CIT(A)'s decision, following the Karnataka High Court's ruling that the assessee was entitled to the deduction. The High Court had found no violation of the scheme's conditions and confirmed the existence of 16 independent units leased to TCS.
The Tribunal held that the payments made for online advertising and IT infrastructure services did not constitute 'royalty' as defined under the DTAA or the Indian Income Tax Act. Therefore, the assessee was not liable to deduct tax at source.
The Tribunal held that for the purpose of Section 11(1)(a), the exemption is to be allowed on gross receipts, as per Supreme Court and ITAT precedents. The issue was remanded to the AO to verify the accumulation of gross income and consider the claim.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal remitted the issue of interest paid to NBFCs to the AO for verification of tax payment by recipients. The issue of disallowance under Section 14A was also remitted to the AO for fresh examination of availability of own funds for investment.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that additions made solely based on the statement of one individual, especially when that statement was later partially retracted or made inconsistent, are not sustainable without corroborative evidence. The AO's reliance on loose papers and obscure notings was also questioned.
The Tribunal held that interest earned on investments in banks, not being co-operative societies, is not eligible for deduction under Section 80P(2)(a)(i) or 80P(2)(d). Therefore, the PCIT was justified in revising the assessment order.
The Tribunal condoned the delay, finding sufficient cause for the assessee's non-appearance. The case was restored to the CIT(A) for a fresh hearing to ensure principles of natural justice are followed.
The Tribunal held that the MOU specifically referred to the 'Restaurant Wing' and did not extend its conditions to the 'Liquor Wing'. Therefore, the disallowance of expenses related to the liquor wing was not justified.
The Tribunal held that interest income from deposits with banks, not being co-operative societies, is not eligible for deduction under Section 80P(2)(a)(i). However, it remanded the issue of whether statutory compulsions for investment created a business nexus for deduction under Section 80P(2)(a)(i).
The Tribunal noted the Supreme Court ruling that software sale/purchase is not royalty. However, it found that the assessee had not conclusively established it merely purchased a copyrighted article. Therefore, the matter was restored to the AO for fresh examination.
The Tribunal found that the Principal CIT passed the revision order without considering the assessee's reply and without affording adequate opportunity. Therefore, the matter was restored to the Principal CIT for fresh consideration.