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Rulings ( 14830 results )

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High Court

HC: HC: Loss on reinstatement of forward contracts, neither speculative nor notional; Allows deduction under Sec.37(1)

Dec 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-949-HC-2022(DEL)
  • Tax Payer : Simon India Ltd
High Court

HC: Sets aside post-search assessment due to arbitrary inter-state transfer of case

Dec 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-953-HC-2022(AP)
  • Tax Payer : Vijay Nathulal Sharma
High Court

HC: HC: Expenditure on abandoned software development in existing business, revenue in nature

Dec 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-941-HC-2022(BOM)
  • Tax Payer : Trigent Software Limited
Income tax Appellate Tribunal

ITAT: Hospital charging market-rates, ineligible for 'tax-exempt' registration; Follows SC Charitable Institutions' ruling

Dec 09, 2022
  • In Favour of Revenue
  • Citation Number : TS-950-ITAT-2022(HYD)
  • Tax Payer : Fernandez Foundation
High Court

HC: Sec.43D amendment retrospective, meant to bring scheduled & non-scheduled banks at par

Dec 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-946-HC-2022(HP)
  • Tax Payer : The Kangra Central Co-op Bank Ltd
High Court

HC: HC: Upholds Co-op Banks’ Circular for Sec.194N compliance; Exemption-seeking PCAS may approach Govt.

Dec 08, 2022
  • In Favour of Revenue
  • Citation Number : TS-945-HC-2022(MAD)
  • Tax Payer : Molasi Primary Agricultural Cooperative Credit Society Ltd and Others
Income tax Appellate Tribunal

ITAT: ITAT: ITAT: ITAT: Third Member holds seismic data services & mining projects 'inextricably linked', covered by Sec.44BB

Dec 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-943-ITAT-2022(DEL)
  • Tax Payer : Western Geco International Ltd.
Income tax Appellate Tribunal

ITAT: Non-disclosure of Sec.12A registration in ITR, rectifiable; Revised return not necessary

Dec 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-938-ITAT-2022(DEL)
  • Tax Payer : Grih Kalyan Kendra Board
High Court

HC: HC: Hearing Revenue's appeal alone in cross-appeals, prejudicial; Directs clubbing of appeals & rehearing

Dec 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-939-HC-2022(BOM)
  • Tax Payer : Linklaters
Income tax Appellate Tribunal

ITAT: Allowability of losses over changed shareholding pattern, debatable; Rejects rectification

Dec 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-936-ITAT-2022(Mum)
  • Tax Payer : Birla Edutech Limited
Income tax Appellate Tribunal

ITAT: Legal owner liable for capital gains as PoA & Sale Deed executed concurrently

Dec 06, 2022
  • In Favour of Revenue
  • Citation Number : TS-937-ITAT-2022(CHNY)
  • Tax Payer : Dr. Sabesan Parameswaran
Income tax Appellate Tribunal

ITAT: ITAT: Investment Co.'s foreign dividend income eligible for business loss set off, Sec.80G deduction

Dec 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-935-ITAT-2022(Mum)
  • Tax Payer : Tata Industries Ltd
Income tax Appellate Tribunal

ITAT: Delayed deposit of employees’ PF 'indicated' in Audit Report, sufficient for Sec.143(1) adjustment

Dec 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-933-ITAT-2022(PUN)
  • Tax Payer : Cemetile Industries
Income tax Appellate Tribunal

ITAT: Sec.80P deduction allowable to housing society on interest from co-op banks

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-931-ITAT-2022(Mum)
  • Tax Payer : Mittal Court Premises Co-operative Society Ltd.
Income tax Appellate Tribunal

ITAT: Allows change of accounting due to uncertainty in settlement of buffer stock subsidy

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-911-ITAT-2022(CHNY)
  • Tax Payer : Coromandel Sugars Ltd.
Income tax Appellate Tribunal

ITAT: Nature of income from idle funds prior to business commencement, debatable; Deletes penalty

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-922-ITAT-2022(CHNY)
  • Tax Payer : Nagarjuna Oil Corporation Ltd
Income tax Appellate Tribunal

ITAT: Rejects Sec.80P claim on 'interest' income but allows Sec.57 deduction

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-925-ITAT-2022(Bang)
  • Tax Payer : The Bharathi Co-operative Credit Society
Income tax Appellate Tribunal

ITAT: Documentary evidence on job work in Assessee's favour; Contractor's physical presence not necessary

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-930-ITAT-2022(DEL)
  • Tax Payer : United Foods Private Limited
Income tax Appellate Tribunal

ITAT: Absent PCIT/CIT's approval, scope of limited scrutiny cannot be enlarged

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-927-ITAT-2022(DEL)
  • Tax Payer : Danone Asia Pte Limited
Income tax Appellate Tribunal

ITAT: ICAI Guidance Note mandatory for F&O turnover calculation; Deletes Sec.271B penalty

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-932-ITAT-2022(Mum)
  • Tax Payer : Sanjay Marotrao Modak