In this newsletter we have covered some of the noteworthy decisions of the Income Tax Appellate Tribunal and Authority for Advance Ruling, which we hope will be interest to you.

DEL ITAT: Provides Clarity On Tax Treatment Of Various Expenses For Telecom Operators

HYD ITAT: Severance Compensation Constitutes ‘Profits In Lieu Of Salary’, Not Capital Receipts, Under Amended Section 17(3)(Iii)

DEL ITAT: Assessment Completed Under ‘E Proceedings’ But Signed Manually, Violative Of CBDT Instruction; Digital Signature Mandatory

DEL ITAT: Emphasizes AO's Duty To Scrutinize All Issues Noticed During Reassessment Proceedings

DEL ITAT: Rejection Of DCF Valuation Report Merely Due To Disclaimer Clause Is Untenable, Addition U/S 56(2)(VIIB) Deleted

DEL ITAT: Quashes Reassessment For Non-Compliance With Sections 147 & 151

DEL ITAT: Absence Of Write Back / Remission Of Advance / Loan Does Not Trigger Taxability

MUM ITAT: Date Of Transfer Is Legally Enforceable Sale Agreement Date, Not Registration Date Relevant For Section 54 Exemption

DEL ITAT: Receipts From Test-Reports Sharing Scientific Experience Taxable As ‘Royalty’; IT Support Reimbursements Not FTS

DEL ITAT: TDS Credit On Salary Undeniable To Employee Where Employer Deducted But Failed To Deposit Tax; Liability To Remit Solely On Employer.

MUM ITAT: Credit For The Tax Deducted And Paid Could Not Be Denied In The Hands Of Ultimate Beneficiary Solely On The Ground Of A Procedural Lapse By A Third Party In Complying With Rule 37BA

RJT ITAT: Merely Stating ‘Yes, I Am Satisfied’ By PCIT While Granting Approval U/S 151, Insufficient; Quashes Reassessment

Mum ITAT: OCI-Based Notional Actuarial Gain On Gratuity Not ‘Income’