ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
ITAT held that foreign remittances characterized as "management/processing fees" are not taxable as fees for technical services (FTS) and therefore the addition treating them as FTS is deleted; the appeal ground challenging taxability is allowed following a co-ordinate bench precedent in the assessee's own case. With respect to levy of fee under s.234F, the Tribunal directed the AO to verify the assessee's contention that the return was filed in response to an s.148 notice and, if established, to take action in accordance with law regarding applicability of s.234F.
ITAT held that foreign remittances characterized as "management/processing fees" are not taxable as fees for technical services (FTS) and therefore the addition treating them as FTS is deleted; the appeal ground challenging taxability is allowed following a co-ordinate bench precedent in the assessee's own case. With respect to levy of fee under s.234F, the Tribunal directed the AO to verify the assessee's contention that the return was filed in response to an s.148 notice and, if established, to take action in accordance with law regarding applicability of s.234F.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
