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Income tax Appellate Tribunal
ITAT: Clarifies principle of mutuality for Co-operative Societies; Holds member contributions not taxable
May 22, 2025
- In Favour of Assessee
- Citation Number : TS-624-ITAT-2025(Mum)
- Tax Payer : Chancellor Court Co-operative Housing Society
High Court
HC: Upholds revisionary proceedings as depreciation was " non-issue" before AO; Rejects Sr. Adv. Pardiwala's arguments
May 22, 2025
- In Favour of Assessee
- Citation Number : TS-623-HC-2025(KAR)
- Tax Payer : Herbalife International India Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Holds retracted admissions without evidence can't lead to additions post-search
May 22, 2025
- In Favour of Assessee
- Citation Number : TS-618-ITAT-2025(DEL)
- Tax Payer : Shyam Sunder Jindal
Income tax Appellate Tribunal
ITAT: Upholds Sec. 80IA relief basis risk & scope of projects; Rejects Revenue's works contractor plea
May 22, 2025
- In Favour of Assessee
- Citation Number : TS-617-ITAT-2025(CHNY)
- Tax Payer : RPP Infra Projects Limited
Income tax Appellate Tribunal
ITAT: Criticizes CIT(E)'s approach of pre-judging trust's charitable activities at registration state; Reinstates registration
May 21, 2025
- In Favour of Revenue
- Citation Number : TS-614-ITAT-2025(Bang)
- Tax Payer : WeVysya
Income tax Appellate Tribunal
ITAT: Interest earned by co-op society from co-op bank investments deductible u/s 80P(2)(d)
May 21, 2025
- In Favour of Assessee
- Citation Number : TS-613-ITAT-2025(Mum)
- Tax Payer : Mulund Samata Co-operative Housing Society Ltd
Income tax Appellate Tribunal
ITAT: Allows Shree Kashi Math's corpus donation exemption citing consistency over res judicata
May 21, 2025
- In Favour of Assessee
- Citation Number : TS-608-ITAT-2025(Mum)
- Tax Payer : Shree Kashi Math Samasthan Varanasi
Supreme Court
SC: Resolves Division Bench split on Sec. 80-HHC deduction entitlement vis-a-vis Sec. 80-IA restriction
May 21, 2025
- In Favour of Assessee
- Citation Number : TS-612-SC-2025
- Tax Payer : Shital Fibers Limited
Income tax Appellate Tribunal
ITAT: Brokerage expenses incurred by real-estate co. qualify as selling costs, not capital expenditure
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-611-ITAT-2025(Mum)
- Tax Payer : Bellissimo Healthy Constructions and Developers Private Limited
Income tax Appellate Tribunal
ITAT: Deletes penalty for not striking-off irrelevant portion in notice specifying Assessee’s offence
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-609-ITAT-2025(DEL)
- Tax Payer : SBS Transpole Lilgistics pvt. Ltd
Income tax Appellate Tribunal
ITAT: Rejection of share-valuation by DCF method unwarranted given sufficient justification of projections
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-610-ITAT-2025(Mum)
- Tax Payer : Madhurima International Private Limited
Income tax Appellate Tribunal
ITAT: Remands to AO for allowing brought forward loss subject to satisfaction of conditions
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-594-ITAT-2025(Mum)
- Tax Payer : Sunjewels Private Limited
Income tax Appellate Tribunal
ITAT: Deletes penalty u/s 270A, cites discretion to impose penalty to be exercised judicially
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-593-ITAT-2025(Mum)
- Tax Payer : Godfrey Lloyd Vaz
Income tax Appellate Tribunal
ITAT: Revenue ought to have approached ITSC over alleged incomplete income disclosure by Assessee
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-607-ITAT-2025(Mum)
- Tax Payer : Jekin Enterprise
Income tax Appellate Tribunal
ITAT: Revenue's acceptance of two flats as one unit undermines penalty on third; Holds penalty as unsustainable
May 20, 2025
- In Favour of Assessee
- Citation Number : TS-606-ITAT-2025(Mum)
- Tax Payer : Kamini Krishna Kotak
Income tax Appellate Tribunal
ITAT: Summary dismissal of appeal for want of prosecution unjustified, CIT(A) to adjudicate on merits
May 19, 2025
- In Favour of Assessee
- Citation Number : TS-605-ITAT-2025(HYD)
- Tax Payer : Power Mech Infra Private Limited
High Court
HC: No substantial question of law in dispute over bank debts’ genuineness; Confirms addition
May 19, 2025
- In Favour of Assessee
- Citation Number : TS-604-HC-2025(DEL)
- Tax Payer : Harsha Associates Private Limited
Income tax Appellate Tribunal
ITAT: Limited scrutiny scope restricted to issues flagged; AO to seek approval of PCIT/CIT for expansion
May 19, 2025
- In Favour of Assessee
- Citation Number : TS-603-ITAT-2025(Bang)
- Tax Payer : Anantula Vijay Mohan
High Court
HC: Allows assessee's writ challenging rejection of DTVSV application citing loss carry forward issue
May 17, 2025
- In Favour of Assessee
- Citation Number : TS-602-HC-2025(DEL)
- Tax Payer : IE VENTURE FUND
High Court
HC: Rejects Revenue's 'accommodation entry' allegation, relieves assessee from unending assessment merry-go-round
May 17, 2025
- In Favour of Assessee
- Citation Number : TS-601-HC-2025(DEL)
- Tax Payer : GARG ACRYLIC LTD