2016 (2) TMI 170 - ITAT MUMBAI
A.C.I.T. 19 (3) , Mumbai Versus M/s Pahilajrai Jaikishin and M/s Pahilajrai Jaikishin Versus D.C.I.T. 19 (3) , Mumbai
Disallowance u/s 14A - whether interest payable to partners on their capital u/s. 40 (b) is an expenditure of the firm instead of holding same as an allowance claimed by the assessee & therefore and does not fall within the ambit of section 14-A. ? - Held that - We hold that expenditure as envisaged by Section 14A of the Act, duly include interest paid to the partners by the assessee firm if the same is incurred in relation to the income whic.....
2016 (2) TMI 47 - DELHI HIGH COURT
National Petroleum Construction Company And Others Versus Director of Income Tax (International Taxation) And Others
Taxability of income earned by the Assessee in respect of a contract entered into by it with ONGC Limited, a public sector enterprise (hereafter ONGC ) - existence of an Assessee s PE in India in terms of Article 5 of the DTAA - whether income from the contract in question is not taxable under the Act by virtue of the Double Taxation Avoidance Agreement between India and United Arab Emirates (UAE)? - Held that - Annexure C (Contract Price Schedul.....
2016 (1) TMI 1084 - ITAT DELHI
NEC HCL System Technologies Ltd. Versus ACIT Circle-13 (1) New Delhi And Vica-Versa
Eligibilty to claim deduction u/s 10A - Set off loss of eligible unit against the business income of the assessee rejected - Held that - In the circular no. 7/DV/2013 FILE NO.279/MISC./M-116/2012-ITJ , DATED 16-7-2013 at para No. one that it has been brought to the notice of the Board that the provisions of 10A/10AA/10B/10BA of the Income-tax Act, with regard to applicability of Chapter IV of the Act and set off and carry forward of losses, are b.....
2016 (1) TMI 812 - DELHI HIGH COURT
The Principal Commissioner of Income Tax-6 Versus M. Tech India P. Ltd.
Disallowance u/s under Section 40(a)(i) and 40(a)(ia) - TDS on payment for Value Added Reseller (VAR) of software related to healthcare and hospitality. - as per revenue payments made by the Assessee were in the nature of royalty and, therefore, the Assessee was obliged to withhold tax on such payments - According to the Assessee, it had made those payments for the purchase of software and it was asserted that the Assessee is a Value Added Resell.....
2016 (1) TMI 792 - THE AUTHORITY FOR ADVANCE RULINGS NEW DELHI
In Re : Cummins Limited
Supply management service fees received - is in the nature of Fees for Technical Services or royalties within the meaning of the term in Article 13 of the India-UK double tax avoidance agreement ( India-UK treaty )? - concept of make available - Held that - The objection of the Revenue that the agreement entered into by the applicant with CTIL is a scheme for tax avoidance is without any merits. To say that the applicant has entered into contract.....
2016 (1) TMI 791 - THE AUTHORITY FOR ADVANCE RULINGS NEW DELHI
In Re : Dow AgroSciences Agricultural Products Ltd.
Investment in equity shares of Dow Agrosciences India Private Limited - whether would be considered as capital asset under section 2(14) of the Act? - whether capital gains arising from the proposed transfer of shares of DAS India by the Applicant to DAS Singapore (a company proposed to be incorporated in Singapore), would be subject to tax in India? - Held that - There is no material before us to hold that the applicant has a PE in India and the.....
2016 (2) TMI 229 - ITAT MUMBAI
M/s Orpak Systems Ltd. Versus Asstt. Director of Income Tax (IT) 4 (2) , Mumbai.
Taxability of contract receipt in India - Held that - There is merit in the submissions of the Ld A.R that the profit attributable to Indian operations should be determined by undertaking FAR analysis. Since the assessee had taken the view that the profit arising from supply of equipments was not taxable in India, it appears that the assessee did not consider it necessary to put up its arguments on the profitability issue. Further, it is stated t.....
2016 (1) TMI 1075 - ITAT DELHI
DCIT, Circle 3 (1) & 3 (2) , International Taxation, New Delhi Versus M/s. KLM Royal Dutch Airlines and M/s. KLM Royal Dutch Airlines Versus ADIT, Intl. Taxation, Circle 1 (2) , New Delhi
Reopening of assessment - applicability of Article 8(1) of DTAA between India and Netherlands - Held that - Assuming of jurisdiction by the Assessing Officer in this case, is bad in law for the reasons inter alia that when the assessee has specifically claimed exemption of its entire income for taxation U/S 90 of the 1. T. Act read with Article 8 of DTAA between India and Netherlands by giving a note on the original income tax return, there was n.....
2016 (1) TMI 221 - ITAT CHENNAI
M/s. Treadsdirect Limited Versus The Joint Commissioner of Income Tax, Range-I, Coimbatore And Vica-Versa
Disallowance recoverable written off in the Profit and Loss Account - Held that - The assessee has been following the system of Accounting methodology which is accepted. Bad Debts occurred in the normal course of business and write off can be made after considering the recovery of Debtors becoming doubtful and the assessee has not squared off the debtors account. Under amended provisions of section 36(i)(vii) of the act effective from 1st April, .....
2016 (1) TMI 134 - ITAT DELHI
A1 Mansoori Specialized Engineering LLC, C/o Nangia & Company Chartered Accountants Versus Asstt. Director of Income-tax, International Taxation
Chargeability of the income arising from performance of associated drilling activity through the provision of oilfield equipment on hire along with operating personnel - Held that - Keeping in view the ratio laid down by the Hon ble Apex Court in the aforesaid referred to case of Oil & Natural Gas Ltd. Vs CIT & Anr. 2015 (7) TMI 91 - SUPREME COURT set aside the impugned order and direct the AO to accept the claim of the assessee that its .....
2016 (1) TMI 131 - ITAT MUMBAI
NGC Network Asia LLC Versus Joint Director of Income Tax (International Taxation) , Range-4, Mumbai
Taxability of revenue generated through advertisements in India - Taxability under India-US tax treaty - assessee having a Permanent Establishment (PE) in India in terms of India-USA DTAA - whether the income generated through distribution of channels falls within the meaning of Royalty under Article 12 of India-USA DTAA and also u/s 9(1)(vi) of the Act and hence the same is also taxable in India? - Held that - If the foreign company receives any.....
2015 (12) TMI 904 - ITAT DELHI
DDIT, Circle-2 (2) , New Delhi Versus Western Union Financial Services Inc.,
Income earned from customers outside India - whether is liable to tax in India under DTAA with USA? - assessee s claim that the software provided to the representatives did not constitute PE - Held that - There is no agency PE of the assessee in India. As in the absence of any PE in India the profits if any attributable to the Indian operations cannot be assessed as business profits under Article 7 of the Treaty. - Decided in favour of assessee.
2015 (12) TMI 401 - GUJARAT HIGH COURT
Commissioner Of Income Tax Versus Taurus Shipping Services
Entitlement to benefit of Article 8 of India-Singapore DTAA - voyage of the vessel between two ports in India treated as international voyage - AO came to the conclusion that such transportation between Kandla to Visag cannot be considered as international traffic as defined in DTAA and between India and Singapore - ITAT allowed claim - Held that - The term international traffic , as noted, is defined to mean any transport by a ship or aircraft o.....
2015 (12) TMI 840 - AUTHORITY FOR ADVANCE RULINGS
In Re : Tiong Woon Project & Contracting (Pte) Limited
Taxability of income - Whether activities carried on by the Applicant, which is a Singapore based company and a non-resident as per provisions of section 6(3) the Applicant can be held to have earned any income taxable in India from its activities of execution of Installation Project ? - Held that - Since the project executed by the applicant in India for Brahmaputra continued only for 178 days in a fiscal year and as the duration of the project .....
2015 (12) TMI 459 - ITAT DELHI
ADIT, (International Taxation) Versus Expro Gulf Ltd. C/o Nangia & Co. And Vica-Versa
Entitlement for concessional benefit u/s 44BB - income of the assessee is held as FTS - Held that - As decided in assessee s own case we hereby held that the amount representing work like drilling and exploration of well is covered by Section 44BB of the Act and as such, liable to be reckoned u/s 44BB of the Act.