PURE SOFTWARE PVT LTD vs ITO

Will the order procurement services rendered outside India be taxable?

Case: Pure Software Pvt Ltd vs ITO, Delhi ITAT Listen to Pure Software Pvt Ltd vs ITO case summary and stay updated any time anywhere. Background: The assessee company was engaged in the business of software development, testing and training and the issue, in this case, was related to a payment made to non-resident entities. The assessee … Continue reading Will the order procurement services rendered outside India be taxable?

Urmila Devi Charitable Trust New Delhi vs CIT(E) Lucknow

Can registration of Trust be retrospectively Cancelled?

Case: Urmila Devi Charitable Trust vs. CIT, Delhi ITAT Background: The registration of Urmila Devi Charitable trust under Section 12AA was cancelled, nullifying the tax exemptions which it had been getting for the past 6 years. CIT alleged that the assessee received a donation of Rs. 85 lakhs in cash, on its basis, the CIT … Continue reading Can registration of Trust be retrospectively Cancelled?

AJB Developers case update

Re-designating land from stock in trade to capital asset

Case: AJB Developers Pvt. Ltd. vs DCIT, (ITAT Delhi) Background: Assessee company was engaged in the business building and infrastructure development. Company sold one of its land properties, held in its books as stock in trade, as a capital asset, and offered the income for taxation under long term capital gain with indexation. AO sought to … Continue reading Re-designating land from stock in trade to capital asset

SH. JAI PAL GABA vs ITO Case Summary

One-time settlement of debt by the bank cannot be treated as benefit from the business if loan was a separate transaction

The Chandigarh bench of ITAT has held in the case of Sh. Jai Pal Gaba vs ITO, W-III (2) that one-time settlement of debt by the bank cannot be treated as benefit from the business if such loan granted to assessee was a separate transaction. Brief Summary: The assessee took over a dissolved proprietorship concern … Continue reading One-time settlement of debt by the bank cannot be treated as benefit from the business if loan was a separate transaction

CIT vs Reliance Life Insurance Co. Ltd.

TDS not payable on outsourcing expenses which are for clerical services

In the case of CIT vs Reliance Life Insurance Co. Ltd., the Bombay High Court has held that TDS is not payable on outsourcing expenses which are clerical in nature. Revenue’s Arguments: The Revenue argued that the assessee had deducted tax under Section 194C of the act which was related to payments made to contractor … Continue reading TDS not payable on outsourcing expenses which are for clerical services