In the case of Godaddy.com LLC vs. ACIT, ITAT Delhi has held that: Citation: Domain name is an intangible asset which is similar to trademark. Consequently, income from services rendered in connection with such domain name registration is assessable as “royalty” u/s 9(1)(vi) of the Income-tax Act. Main Body: It is now settled law that […]

In the case of Amod Shivlal Shah vs. ACIT, ITAT Mumbai has held that: The Hon’ble Supreme Court in the case of Pullangode Rubber Produce Co. Ltd. vs State of Kerala & Anr., 91 ITR 18 (SC) recognised the trite law that it was open to the assessee who made the admission to show that […]

In the case of DCIT vs Brahmos Aerospace, ITAT Cochin has held that: Moreover, if the assesse has not got its statutory audit done under Companies Act, 1956(Now Companies Act, 2013) within the prescribed time, or has not got its tax audit done under the provisions of Section 44AB of the 1961 Act, there are […]

In the case of Shantivijay Jewels Ltd vs. DCIT, ITAT Mumbai has held that: Citation: The fact that the supplier admitted to issuing bogus bills does not necessarily mean that he had issued accommodation bills to the assessee. There is subtle but very important difference in issuing bogus bills and issuing accommodation bills to a […]

In the case of In Re Hiten Ramanlal Mahimtura, ITAT Mumbai has held that: The power of condoning the delay is with the Court/Tribunal under the Limitation Act as well as u/s 253(5) r.w.s. 252(1) of the Income Tax Act. The petition of assessee has to be examined by the court/Tribunal after hearing both the […]