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...
The ITAT allowed the assessee's appeal, holding that delay in filing Form 10-IC did not disentitle the assessee to concessional taxation under s.115BAA where the form was filed for the first time before the Tribunal and the omission was explained as oversight; other grounds were consequential. The Tribunal directed the assessing officer to grant the benefit of s.115BAA if the assessee satisfies all statutory and procedural prerequisites, distinguishing revenue reliance on a decision where Form 10-IC was not filed even before the Tribunal. The relief is conditional upon fulfillment of all remaining requisite conditions.
The ITAT allowed the assessee's appeal, holding that delay in filing Form 10-IC did not disentitle the assessee to concessional taxation under s.115BAA where the form was filed for the first time before the Tribunal and the omission was explained as oversight; other grounds were consequential. The Tribunal directed the assessing officer to grant the benefit of s.115BAA if the assessee satisfies all statutory and procedural prerequisites, distinguishing revenue reliance on a decision where Form 10-IC was not filed even before the Tribunal. The relief is conditional upon fulfillment of all remaining requisite conditions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
