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Rulings ( 13203 results )

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Income tax Appellate Tribunal

ITAT: Sec.56(2)(via) inapplicable to buyback, given tests of "becoming property" & "shares of any other company" fails

Jul 16, 2025
  • In Favour of Assessee
  • Citation Number : TS-924-ITAT-2025(Mum)
  • Tax Payer : Lupin Investments Pvt. Ltd
High Court

HC: Directs fresh valuation for NIL withholding tax on cross-border share transaction; Remands matter

Jul 16, 2025
  • In Favour of Assessee
  • Citation Number : TS-923-HC-2025(DEL)
  • Tax Payer : Bray Controls South East Asia Pte Ltd
Income tax Appellate Tribunal

ITAT: Refuses to condone delay sans sufficient cause, given lack of diligence & malafide intent

Jul 16, 2025
  • In Favour of Assessee
  • Citation Number : TS-920-ITAT-2025(Mum)
  • Tax Payer : All India Rubber Industries Association
High Court

HC: Deletes addition towards cessation of liability u/s 41(1) given pending civil suit for recovery

Jul 15, 2025
  • In Favour of Assessee
  • Citation Number : TS-918-HC-2025(MAD)
  • Tax Payer : Anand Transport
High Court

HC: ‘Flower bed area’ merely ornamental, not part of ‘built-up area’ for deduction u/s 80IB(10)

Jul 15, 2025
  • In Favour of Assessee
  • Citation Number : TS-919-HC-2025(BOM)
  • Tax Payer : Nahar Enterprises
High Court

HC: E-license portal-services to Genpact not FTS under UK DTAA; Reinforces 'make available' test

Jul 15, 2025
  • In Favour of Assessee
  • Citation Number : TS-917-HC-2025(DEL)
  • Tax Payer : Tungsten Automation England Limited
Income tax Appellate Tribunal

ITAT: Sale of windmill division falls within ‘slump sale’ definition u/s 2(42C), taxable as capital gains u/s 50B

Jul 15, 2025
  • In Favour of Assessee
  • Citation Number : TS-916-ITAT-2025(CHNY)
  • Tax Payer : Ashok Leyland Ltd.
Income tax Appellate Tribunal

ITAT: Deletes adjustment given accumulated funds utilized within time frame; Applies 'doctrine of impossibility'

Jul 14, 2025
  • In Favour of Assessee
  • Citation Number : TS-915-ITAT-2025(Ahd)
  • Tax Payer : Krishnanagar Vaishnvsamaj
High Court

HC: Affirms PCIT's rejection of penalty immunity u/s 273AA for incomplete disclosure

Jul 14, 2025
  • In Favour of Revenue
  • Citation Number : TS-914-HC-2025(MAD)
  • Tax Payer : Abdul Rahim
Income tax Appellate Tribunal

ITAT: Confirms addition of unexplained bank credits sans establishment of genuineness of transaction

Jul 14, 2025
  • In Favour of Assessee
  • Citation Number : TS-913-ITAT-2025(Ahd)
  • Tax Payer : Ashokbhai Muljibhai Vaniya
Supreme Court

SC: Appellate proceedings stand abeyed pending Settlement Commission order; Dismisses Revenue’s SLP

Jul 14, 2025
  • In Favour of Assessee
  • Citation Number : TS-912-SC-2025
  • Tax Payer : M.D. Industries Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Proceeds from sale of property converted from stock to investment, taxable as capital gains

Jul 14, 2025
  • In Favour of Assessee
  • Citation Number : TS-911-ITAT-2025(DEL)
  • Tax Payer : HKT Corporation Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec.69A addition based on loose sheet sans corroborative material & independent inquiry unsustainable

Jul 12, 2025
  • In Favour of Assessee
  • Citation Number : TS-910-ITAT-2025(DEL)
  • Tax Payer : Sanjay Taneja
Income tax Appellate Tribunal

ITAT: Reassessment notice time-barred under Sec. 149; SC ruling in Rajeev Bansal applies

Jul 12, 2025
  • In Favour of Assessee
  • Citation Number : TS-907-ITAT-2025(CHNY)
  • Tax Payer : Lakshmi Narasimhan Santhi
Income tax Appellate Tribunal

ITAT: Deletes addition u/s 69 based on dumb documents sans corroborative evidence; Upholds reassessment on prima facie belief

Jul 12, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-908-ITAT-2025(DEL)
  • Tax Payer : News Builders and Developers Pvt Ltd.
Income tax Appellate Tribunal

ITAT: Labour & farm expenses allowable on self-made vouchers as prevalent in Assessee’s business

Jul 12, 2025
  • In Favour of Assessee
  • Citation Number : TS-909-ITAT-2025(Bang)
  • Tax Payer : Carreg Commodities Pvt. Ltd.
High Court

HC: Quashes Sec. 148 notice; Grants liberty to revive petition by moving 'Praecipe' if Hexaware decision set aside

Jul 12, 2025
  • In Favour of Assessee
  • Citation Number : TS-901-HC-2025(BOM)
  • Tax Payer : Caishen Enterprise LLP
Income tax Appellate Tribunal

ITAT: Computation error not subject to revision; Quashes Sec. 263 revision over depreciation allowance

Jul 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-904-ITAT-2025(Ahd)
  • Tax Payer : Bakeri Projects Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes addition u/s 56(2)(x) on jointly purchased flat; Co-ownership prevails over allotment-letter

Jul 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-898-ITAT-2025(Mum)
  • Tax Payer : Ramaswami Parameswaran Nallepilly
Income tax Appellate Tribunal

ITAT: Restricts bogus-purchase addition u/s 69C to 25% GP rate, cites Assessee proved genuineness

Jul 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-897-ITAT-2025(Mum)
  • Tax Payer : The Official Liquidator in the case of M/s. Asian Electronics Ltd