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Rulings ( 12507 results )

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Income tax Appellate Tribunal

ITAT: Limits addition on bogus purchases applying 0.20% GP rate, follows coordinate bench precedent

Apr 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-452-ITAT-2025(Mum)
  • Tax Payer : Shree Sundha Steels Private Limited
Income tax Appellate Tribunal

ITAT: Restricts bogus sales addition to GP rate absent disputed purchases

Apr 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-453-ITAT-2025(Mum)
  • Tax Payer : R C Gems
Income tax Appellate Tribunal

ITAT: Condones 416-days delay by senior citizen Assessee given notices sent to deceased spouse

Apr 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-451-ITAT-2025(Bang)
  • Tax Payer : Louella Maria Albuquerque
Income tax Appellate Tribunal

ITAT: Tax relief u/s 54B available on transfer of land 'used for agriculture' & not 'transfer of agricultural land'

Apr 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-455-ITAT-2025(Mum)
  • Tax Payer : Suresh Bhagwandas Mehta
High Court

HC: Quashes reassessment, citing no failure to disclose fully and truly, issues already examined during original assessment

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-449-HC-2025(BOM)
  • Tax Payer : Prithvi Apartments Co-operative Housing Society Limited
High Court

HC: CIT(E) not empowered to deal with application seeking condonation of delay over 1-year

Apr 24, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-447-HC-2025(BOM)
  • Tax Payer : Al Qalam Educational Trust
High Court

HC: Explains conditions laid u/s 149(1A); Sets aside notice issued being beyond limitation period

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-444-HC-2025(DEL)
  • Tax Payer : L-1 Identity Solutions Operating Company Private Limited
High Court

HC: Quashes demand order, directs Revenue not to pursue recovery proceedings, till final disposal of appeal

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-448-HC-2025(TEL)
  • Tax Payer : Chidrupi Estates and Holding Limited
Income tax Appellate Tribunal

ITAT: Regular assessment not summary proceedings for adjudication of disallowance if no valid return exists

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-446-ITAT-2025(Bang)
  • Tax Payer : Mysore District Judicial Employee Credit Co-operative Society Limited
Income tax Appellate Tribunal

ITAT: Allows intra-head adjustment for set-off of losses u/s 71 sans relevant tax treaty provisions

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2025(DEL)
  • Tax Payer : Hyosung Corporation
Income tax Appellate Tribunal

ITAT: Deletes Rs. 103 cr addition on rickshaw driver, notes AO's failiure to nab real culprits

Apr 24, 2025
  • In Favour of Assessee
  • Citation Number : TS-442-ITAT-2025(Mum)
  • Tax Payer : Surendra Kumar Rajmani Mishra
High Court

HC: Interest payment by Assessee on deposits from its Shareholders, etc. not liable under Interest Tax Act

Apr 23, 2025
  • In Favour of Assessee
  • Citation Number : TS-441-HC-2025(MAD)
  • Tax Payer : Chandok Services Pvt. Ltd
High Court

HC: Insurance Cos outside Sec. 14A ambit, income computed u/s 44 r.w. First schedule; Allows IBNR & IBNER provisions

Apr 23, 2025
  • In Favour of Assessee
  • Citation Number : TS-440-HC-2025(MAD)
  • Tax Payer : Cholamandalam MS General Insurance Co Ltd
Income tax Appellate Tribunal

ITAT: Deletes TDS demands against House of Anita Dongre, cites franchisees' transactions on principal to principal basis

Apr 23, 2025
  • In Favour of Assessee
  • Citation Number : TS-439-ITAT-2025(Mum)
  • Tax Payer : House of Anita Dongre Pvt Ltd
High Court

HC: Assessee cannot invoke Court’s extraordinary jurisdiction to avoid pre-deposit requirement

Apr 23, 2025
  • In Favour of Revenue
  • Citation Number : TS-437-HC-2025(BOM)
  • Tax Payer : Khemchand Uttamchand Bhojwani
Income tax Appellate Tribunal

ITAT: Couple gets capital gains exemption despite selling two separate houses, while buying one

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-435-ITAT-2025(Mum)
  • Tax Payer : Tejal Kaushal Shah
Income tax Appellate Tribunal

ITAT: Affirms 4% net profit addition on cash deposits post-demonetisation citing Assessee’s lack of proof

Apr 22, 2025
  • In Favour of Revenue
  • Citation Number : TS-432-ITAT-2025(Mum)
  • Tax Payer : Creative Gems and Jewellery Limited
Income tax Appellate Tribunal

ITAT: Deletes accommodation entry addition basis Investigation wing report sans independent enquiry

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2025(Mum)
  • Tax Payer : Lube Distributing Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quashes reassessment initiated after 4-years’ expiry absent Assessee’s failure to disclose facts

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-416-ITAT-2025(Mum)
  • Tax Payer : Swati Energy & Projects (P) Ltd
Income tax Appellate Tribunal

ITAT: Allows proportionate deduction u/s 80-IB(10) on completed residential units

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-417-ITAT-2025(Mum)
  • Tax Payer : Aakash Nidhi Builders & Developers