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Income tax Appellate Tribunal

ITAT: Allows Assessee to avail benefit of VsV 2024, considers an extension of VsV 2020

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-244-ITAT-2025(JPR)
  • Tax Payer : Vimal Kumar Garg
Income tax Appellate Tribunal

ITAT: Grants tax exemption, cites no "Adventure in the Nature of Trade" in agricultural land sale

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2025(COCH)
  • Tax Payer : P.C. Jose
High Court

HC: BARC share acquisition deemed charitable, not investment; Affirms Sec.11/12 exemption for Indian Broadcasting

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-241-HC-2025(DEL)
  • Tax Payer : Indian Broadcasting Foundation
Income tax Appellate Tribunal

ITAT: Recording of dissatisfaction u/s 14A not required in case of suo moto disallowance

Mar 21, 2025
  • In Favour of Revenue
  • Citation Number : TS-235-ITAT-2025(Mum)
  • Tax Payer : NSE Clearing Limited
Income tax Appellate Tribunal

ITAT: Only ‘real income’ embedded in commission can be taxed, not entire amount of receipts

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2025(Mum)
  • Tax Payer : Vasant Nivrutti Zimur
Income tax Appellate Tribunal

ITAT: Assessee eligible for FTC as requirement of filing Form 67 directory, not mandatory

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2025(Bang)
  • Tax Payer : Madan Kumar Sivinigari
Income tax Appellate Tribunal

ITAT: Intimation u/s 143(1) merges with scrutiny-assessment u/s 143(3) when proposed adjustments part of subject matter

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-239-ITAT-2025(Mum)
  • Tax Payer : Aditya Birla Housing Finance Limited
Income tax Appellate Tribunal

ITAT: AO cannot introduce fresh grounds, not confronted in SCN to salvage reassessment

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2025(Mum)
  • Tax Payer : CEC-ITD CEM TPL Joint Venture
Income tax Appellate Tribunal

ITAT: Allows advance tax credit despite payment in prior AY citing delayed transaction settlement

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-236-ITAT-2025(DEL)
  • Tax Payer : Marguerite Lasusa Chawla
Income tax Appellate Tribunal

ITAT: DCF method applies to pending assessments; Deletes addition u/s 56(2)(viib) sans over-valuation of shares

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-234-ITAT-2025(DEL)
  • Tax Payer : East Delhi Leasing P. Ltd
High Court

HC: Criticizes Revenue for 16-year refund delay, warns of interest recovery from Officers responsible

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-233-HC-2025(BOM)
  • Tax Payer : Nirmalkumar Mulchand Puruswani
High Court

HC: Can't initiate re-opening merely because AO failed to disallow expense; Allows Glaxo's writ

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-232-HC-2025(BOM)
  • Tax Payer : GlaxoSmithKline Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT: Incorrect invocation of Sec. 69C, payments duly shown in books, no adverse material against Assessee

Mar 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-229-ITAT-2025(Mum)
  • Tax Payer : Milestone Finvest Limited
Income tax Appellate Tribunal

ITAT: Rights entitlement akin to derivatives, not same as "Shares"; STCG exempt under Ireland DTAA

Mar 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-231-ITAT-2025(Mum)
  • Tax Payer : Vanguard Emerging Markets Stock Index Fund A Series of VISPLC
Income tax Appellate Tribunal

ITAT: Affirms assessment reopening validity, cites approval u/s 151 granted by CIT not mechanical

Mar 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2025(DEL)
  • Tax Payer : Green Mark Infra Limited
High Court

HC: Directs expeditious disposal of Assessee’s appeal within 3 months from date of order

Mar 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-230-HC-2025(BOM)
  • Tax Payer : WSFx Global Pay Limited
High Court

HC: Digital records constitute 'Books of Account', slams CA for " accommodation racket", upholds Sec. 68 addition

Mar 18, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-227-HC-2025(BOM)
  • Tax Payer : Buniyad Chemicals Ltd
Income tax Appellate Tribunal

ITAT: No reasons recorded, initiation & completion of reassessment by different officers, notice u/s 148 time barred

Mar 18, 2025
  • In Favour of Assessee
  • Citation Number : TS-226-ITAT-2025(Mum)
  • Tax Payer : Susheel Kumar Govindram Saraff
Income tax Appellate Tribunal

ITAT: Additions based on 'Peak Theory' inapplicable, diary entries of abstract nature; Deletes addition

Mar 18, 2025
  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2025(DEL)
  • Tax Payer : Munesh Tyagi
Income tax Appellate Tribunal

ITAT: Deletes penalty order u/s 271D as barred by limitation, 'due date' beyond period specified under TOLA

Mar 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2025(HYD)
  • Tax Payer : Sireesha Pochareddy