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Rulings ( 15399 results )

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Income tax Appellate Tribunal

ITAT: Sets aside Sec. 143(1)(a) disallowance on carry-forward LTC loss sans mandatory prior intimation

  • In Favour of Assessee
  • Citation Number : TS-1081-ITAT-2025(Mum)
  • Tax Payer : Nirmala Nawal Phatarphekar
Income tax Appellate Tribunal

ITAT: Quashes revision disallowing CSR expenses u/s 80G given AO’s view based on legal precedents

  • In Favour of Assessee
  • Citation Number : TS-1080-ITAT-2025(Mum)
  • Tax Payer : Pashupati Capital Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes 3% net-profit addition post rejection of books u/s 145(3) basis assumptions sans material

  • In Favour of Assessee
  • Citation Number : TS-1058-ITAT-2025(Mum)
  • Tax Payer : Late Mr. Shankerlal Doulatram Ramani (Through legal heir Mr. Rajesh Shankerlal Ramani)
Income tax Appellate Tribunal

ITAT: Affirms Sec. 270A penalty for non-disclosure of foreign exchange gains; Revised computation no shield

  • In Favour of Revenue
  • Citation Number : TS-1048-ITAT-2025(Mum)
  • Tax Payer : Creative Ashtech Power Projects Private Limited
Income tax Appellate Tribunal

ITAT: MLI provisions unenforceable sans separate notification; Relies on Nestle, highlights Revenue's contradicting stand

  • In Favour of Assessee
  • Citation Number : TS-1085-ITAT-2025(Mum)
  • Tax Payer : Sky High Appeal XLIII Leasing Company Limited
Income tax Appellate Tribunal

ITAT: Directs CIT(E) to grant registration u/s 12AB given assessee commenced activities, genuineness established

  • In Favour of Assessee
  • Citation Number : TS-1031-ITAT-2025(Bang)
  • Tax Payer : Marine Drishti and Coastal Foundation
High Court

HC: Order passed on original return ignoring validly filed revised return, vitiates assessment proceedings

  • In Favour of Assessee
  • Citation Number : TS-1084-HC-2025(TRI)
  • Tax Payer : Tripura State Electricity Corporation Limited
Income tax Appellate Tribunal

ITAT: Disallowance of payment to related parties u/s 40(A) sans proof of payment being excessive, unjustified

  • In Favour of Assessee
  • Citation Number : TS-1083-ITAT-2025(Mum)
  • Tax Payer : Precision Shapes
Income tax Appellate Tribunal

ITAT: Allows Sec. 80IB deduction in revised return; Denial of deduction claimed before assessment order untenable

  • In Favour of Assessee
  • Citation Number : TS-1082-ITAT-2025(Mum)
  • Tax Payer : Rashmi Infrastructure Developers Limited
Income tax Appellate Tribunal

ITAT: ITAT: Penny stock gain lacks "commercial credibility" & "human probability", cites transaction as sham for tax evasion

  • In Favour of Assessee
  • Citation Number : TS-1078-ITAT-2025(Ahd)
  • Tax Payer : Krutik Ashokkumar Parikh-HUF
Income tax Appellate Tribunal

ITAT: Clarifies terms “such matters” & “subject matters” u/s 263; Upholds revision as issue not in appeal or assessment

  • In Favour of Revenue
  • Citation Number : TS-1077-ITAT-2025(Kol)
  • Tax Payer : Shyam Metalics and Energy Ltd
Income tax Appellate Tribunal

ITAT: Mutual fund redemption of SEBI-approved scheme not ‘colorable device’, sans cogent & corroborative evidence

  • In Favour of Assessee
  • Citation Number : TS-1076-ITAT-2025(Mum)
  • Tax Payer : CMS Computers Limited
Income tax Appellate Tribunal

ITAT: Co. shareholding at year-end relevant for deemed dividend trigger; Rejects Revenue's plea

  • In Favour of Assessee
  • Citation Number : TS-1075-ITAT-2025(Mum)
  • Tax Payer : Vinita Pawankumar Saraf
High Court

HC: Lays down law on Annual Rental Value calculation; Rejects ridiculously low rental receipt

  • In Favour of Revenue
  • Citation Number : TS-1074-HC-2025(BOM)
  • Tax Payer : Tivoli Investment & Trading Co. Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quashes reassessment against Tata Motors as invalid, entirely based on ‘change of opinion’

  • In Favour of Assessee
  • Citation Number : TS-1073-ITAT-2025(Mum)
  • Tax Payer : Tata Motors Limited
Supreme Court

SC: Dismisses another Revenue SLP in JAO-FAO controversy; Issue fate unclear

  • In Favour of Assessee
  • Citation Number : TS-1072-SC-2025
  • Tax Payer : Prakash Pandurang Patil
Income tax Appellate Tribunal

ITAT: Confirms conversion of grapes to raisins via traditional methods, agricultural activity exempt from tax

  • In Favour of Assessee
  • Citation Number : TS-1071-ITAT-2025(Bang)
  • Tax Payer : Shrikant Basangouda Patil
High Court

HC: Applies 'intimate connection' test to hold vintage car as not 'personal effect'

  • In Favour of Revenue
  • Citation Number : TS-1070-HC-2025(BOM)
  • Tax Payer : Narendra I. Bhuva
Income tax Appellate Tribunal

ITAT: ITAT: One-time life membership fee receipt by Trust, capital in nature; Applies real income & consistency principles

  • In Favour of Assessee
  • Citation Number : TS-1069-ITAT-2025(DEL)
  • Tax Payer : Council of Architecture
Income tax Appellate Tribunal

ITAT: Rejects individual tax on ancestral property sale; Directs taxation in HUF's hands

  • In Favour of Assessee
  • Citation Number : TS-1068-ITAT-2025(DEL)
  • Tax Payer : Ram Kumar Tyagi