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Rulings ( 13733 results )

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High Court

HC: Search assessment based on incriminating material found for only one AY, invalid for rest of the block AYs

Jun 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-436-HC-2024(KER)
  • Tax Payer : Sunny Jacob Jewellers Gold Hyper Market
High Court

HC: Retrospective application of Black Money Act unconstitutional, rules Karnataka HC

Jun 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-440-HC-2024(KAR)
  • Tax Payer : Dhanashree Ravindra Pandit
Income tax Appellate Tribunal

ITAT: Interest income earned from investment with co-operative bank, not eligible for deduction u/s80P(2)(d); Follows Totgars

Jun 22, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-366-ITAT-2024(Bang)
  • Tax Payer : Brahmavara Vyavasaya Seva
Income tax Appellate Tribunal

ITAT: Corpus specific voluntary contribution, ‘capital receipt’, non-taxable regardless of Sec.11 eligibility

Jun 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-439-ITAT-2024(Mum)
  • Tax Payer : Gemmological Institute of India
Income tax Appellate Tribunal

ITAT: Quashes reassessment sans foundation material leading to ‘reason to believe’ & information obtained subsequent to reassessment notice

Jun 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-431-ITAT-2024(DEL)
  • Tax Payer : Santosh Khunteta
Income tax Appellate Tribunal

ITAT: Deletes Sec.40A(3) disallowance for cash paid to agents verifiable under Rule 6DD(1).

Jun 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-438-ITAT-2024(DEL)
  • Tax Payer : Narender Singh
Income tax Appellate Tribunal

ITAT: Valuation not adopted as per Rule 11UA, matter cannot be remanded for re-determination; Rejects valuation report

Jun 21, 2024
  • In Favour of Revenue
  • Citation Number : TS-437-ITAT-2024(NAG)
  • Tax Payer : Vedsidha Products Pvt. Ltd
Foreign Court

FC: Czech Republic Court rules Entity Engaged in Back-To-Back Transactions, not a ‘Beneficial Owner’

Jun 21, 2024
  • In Favour of Revenue
  • Citation Number : TS-435-FC-2024(CZE)
  • Tax Payer : YOLT Services s.r.o.
Income tax Appellate Tribunal

ITAT: ITAT: Connectivity services being ancillary to inter-connect services, cannot be treated FTS u/Sec. 9(1)(vii)

Jun 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-433-ITAT-2024(DEL)
  • Tax Payer : Huawei International Co. Limited
Income tax Appellate Tribunal

ITAT: Sec.144C provisions are mandatorily to be followed prior to final order; Follows Zuari Cement

Jun 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-434-ITAT-2024(DEL)
  • Tax Payer : ADM Agro Industries Kota & Akola Pvt. Ltd
Foreign Court

FC: US Supreme Court upholds constitutional validity of 'repatriation' tax

Jun 20, 2024
  • In Favour of Revenue
  • Citation Number : TS-432-FC-2024(USA)
  • Tax Payer : Moore
Income tax Appellate Tribunal

ITAT: Upholds Sec.57 disallowance for interest expenses against interest income on unrelated capital receipts

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-430-ITAT-2024(Mum)
  • Tax Payer : Vinod D Chheda
Income tax Appellate Tribunal

ITAT: Sec.50C not invokable for leasehold rights, apply to capital assets; Follows Noida Cyber Park

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2024(DEL)
  • Tax Payer : Shivdeep Tyagi
Income tax Appellate Tribunal

ITAT: Quashes revision over unexplained cash deposit despite AO’s detailed inquiry; Mechanical satisfaction not valid

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-428-ITAT-2024(DEL)
  • Tax Payer : Dharam Singh
High Court

HC: Upholds ITAT’s conditional stay directing Vodafone India to deposit 20% of demand

Jun 20, 2024
  • In Favour of Revenue
  • Citation Number : TS-427-HC-2024(BOM)
  • Tax Payer : Vodafone India Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Transfer valid under Section 2(47)(v) in the absence of stamp duty as deed registered; Follows Sanjeev Lal

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2024(Ahd)
  • Tax Payer : Umesh Sumanlal Shah
Income tax Appellate Tribunal

ITAT: Sec.263 revision order passed without adjudicating Assessee’s plea of fraud, not sustainable

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2024(Kol)
  • Tax Payer : Rajesh Kumar Jalan
Income tax Appellate Tribunal

ITAT: ITAT: ITAT: Reimbursement of license fee for usage of Microsoft utilities not royalty; AMC Services not FTS

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2024(CHNY)
  • Tax Payer : Temenos Headquarters SA
High Court

HC: HC: Sec.269SS covers pledging to pawn broker as security for loan; Sec.271D penalty sustainable for noncompliance

Jun 18, 2024
  • In Favour of Revenue
  • Citation Number : TS-423-HC-2024(P & H)
  • Tax Payer : R. K. Jewellers
Income tax Appellate Tribunal

ITAT: ITAT: Sec.153A assessments invalid sans incriminating evidence; Loose sheets/sworn statements not reliable absent corroborative evidence

Jun 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2024(Bang)
  • Tax Payer : Ramachandra Setty & Sons