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Rulings ( 12913 results )

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High Court

HC: Assessee cannot invoke Court’s extraordinary jurisdiction to avoid pre-deposit requirement

Apr 23, 2025
  • In Favour of Revenue
  • Citation Number : TS-437-HC-2025(BOM)
  • Tax Payer : Khemchand Uttamchand Bhojwani
Income tax Appellate Tribunal

ITAT: Couple gets capital gains exemption despite selling two separate houses, while buying one

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-435-ITAT-2025(Mum)
  • Tax Payer : Tejal Kaushal Shah
Income tax Appellate Tribunal

ITAT: Affirms 4% net profit addition on cash deposits post-demonetisation citing Assessee’s lack of proof

Apr 22, 2025
  • In Favour of Revenue
  • Citation Number : TS-432-ITAT-2025(Mum)
  • Tax Payer : Creative Gems and Jewellery Limited
Income tax Appellate Tribunal

ITAT: Deletes accommodation entry addition basis Investigation wing report sans independent enquiry

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2025(Mum)
  • Tax Payer : Lube Distributing Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quashes reassessment initiated after 4-years’ expiry absent Assessee’s failure to disclose facts

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-416-ITAT-2025(Mum)
  • Tax Payer : Swati Energy & Projects (P) Ltd
Income tax Appellate Tribunal

ITAT: Allows proportionate deduction u/s 80-IB(10) on completed residential units

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-417-ITAT-2025(Mum)
  • Tax Payer : Aakash Nidhi Builders & Developers
Income tax Appellate Tribunal

ITAT: Books of account not to be rejected if discrepancies in Form 26AS, reduces income estimation @7%

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-434-ITAT-2025(DEL)
  • Tax Payer : Mittal Construction Unit
High Court

HC: Reasonable remuneration to trust Chairperson not in violation of Sec. 13(1)(c), doesn't negate tax exemption

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-433-HC-2025(DEL)
  • Tax Payer : IILM Foundation
Income tax Appellate Tribunal

ITAT: Computers installed for software development akin to production of article or things; Allows claim u/s 32AC

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-430-ITAT-2025(Bang)
  • Tax Payer : Bosch Global Software Technologies Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes addition, as deposits assessed as income pertain to period when parents operated account

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-431-ITAT-2025(Mum)
  • Tax Payer : Nirmal Jethalal Modi
Income tax Appellate Tribunal

ITAT: Deletes penalty for non-disclosure of foreign asset, as revised return was filed within time with due disclosures

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2025(Mum)
  • Tax Payer : Timothy John Brinkman
Income tax Appellate Tribunal

ITAT: Deletes penalty for non-disclosure of foreign asset, as requisite details were disclosed in return u/s 153C

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-428-ITAT-2025(CHNY)
  • Tax Payer : Palanirajan Rajarajan
Income tax Appellate Tribunal

ITAT: Secondary owner merely for administrative purposes; No penalty on bonafide belief for not disclosing in FA schedule

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-427-ITAT-2025(Mum)
  • Tax Payer : Sanjay Bhupatrai Shah
Income tax Appellate Tribunal

ITAT: Rejects AO’s non-disclosure of foreign asset in FA schedule plea, as investments made from disclosed sources

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2025(Kol)
  • Tax Payer : Gaurav Kumar Chopra
High Court

HC: Interim dividend exempt u/s 10(33) as accrual was prior to receipt, cites reassessment unwarranted

Apr 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-409-HC-2025(MAD)
  • Tax Payer : B. Jayalakshmi
Income tax Appellate Tribunal

ITAT: Copy of ITAT Larger Bench Ruling on SB constitution when matter pending before HC

Apr 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2025(Mum)
  • Tax Payer : J P Morgan Chase Bank
Income tax Appellate Tribunal

ITAT: Revenue not entitled to limitation extension u/s 153, given invalid reference u/s 92CA for info. exchange

Apr 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2025(Mum)
  • Tax Payer : Kalpana Dilip Mehta as Legal Heir of Dilip Dalpatlal Mehta
Income tax Appellate Tribunal

ITAT: Clarifies treatment of current & deferred tax u/s 115JB, reduces tax adjustment in earlier years from current tax

Apr 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-421-ITAT-2025(Mum)
  • Tax Payer : ACC Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of export-related additions, DRI investigation not conclusive

Apr 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-419-ITAT-2025(DEL)
  • Tax Payer : Sanjeev Malhotra
High Court

HC: No basis for additions on gifted artworks, cites lack of valuation by AO, additions unsustainable

Apr 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-418-HC-2025(DEL)
  • Tax Payer : Rohit Gandhi