Judgement

The ITAT sent the case back to Assessing Officer for fresh verification of the assessee’s Rs. 2.47 crore capital investment after new evidence was produced.

ITAT Remands Case on Unexplained Capital Introduction under Section 69A for Fresh Assessment

Court Follows Earlier Rulings; Faceless Assessment Scheme Must Govern Reassessment Even in Search-Linked Cases

HC Quashes Reassessment in Search Case: Notice Issued by Jurisdictional AO Held Invalid

Regarding the Subscription fee, the Tribunal cited the decision of the Delhi HC which held that if an agreement creates interest or the right to use a copyrighted article, the payments for such use do not form a royalty.

Administration Fee and Subscription Fee are Not Royalty Under Income Tax: ITAT

The ITAT Mumbai held that TDS is not required on year-end expense provisions when payees are not identified and directed the Assessing Officer to verify if TDS was later deducted and paid.

TDS Not required on Year-End Expense Provisions Where Payees Are Not Identified, Says ITAT

ITAT Mumbai ruled that a company incorporated in FY 2015-16 cannot claim the 29% concessional tax rate meant for companies existing in FY 2014-15, and upheld the 30% tax rate applied by the AO.

ITAT Upholds 30% Tax Rate for Newly Incorporated Company Not Eligible for 29% Concession

The tribunal also agreed with the assessee, saying that the AO has not submitted any material during the course of assessment proceedings other than estimating the undisclosed income

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ITAT Remands Case on Unexplained Capital Introduction under Section 69A for Fresh Assessment

HC Quashes Reassessment in Search Case: Notice Issued by Jurisdictional AO Held Invalid

Administration Fee and Subscription Fee are Not Royalty Under Income Tax: ITAT

TDS Not required on Year-End Expense Provisions Where Payees Are Not Identified, Says ITAT

ITAT Upholds 30% Tax Rate for Newly Incorporated Company Not Eligible for 29% Concession

ITAT Dismisses Bogus Transaction Allegation on Chartered Accountant