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Income tax Appellate Tribunal

ITAT: ITAT: ITAT: ITAT: Payment made by Ad Agency to Facebook for digital space, not royalty; Rejects CIT(A)'s finding on DAPE

  • In Favour of Assessee
  • Citation Number : TS-602-ITAT-2022(Mum)
  • Tax Payer : Interactive Avenues Private Limited
Income tax Appellate Tribunal

ITAT: Third Member upholds cancellation of Sec.12A registration ​as Trust sold its educational institutions​​; Rejects retrospective effect

  • In Favour of Revenue
  • Citation Number : TS-606-ITAT-2022(ALLD)
  • Tax Payer : Jeevan Jyoti Charitable Trust
Income tax Appellate Tribunal

ITAT: Trust not bound by conditions imposed beyond ‘scheme of the law’, while granting registration

  • In Favour of Assessee
  • Citation Number : TS-608-ITAT-2022(Mum)
  • Tax Payer : Bai Navajbai Tata Zoroastrian Girls School
High Court

HC: Sets aside ITAT order imposing pre-deposit for granting stay in covered matter; Directs expeditious hearing

  • In Favour of Assessee
  • Citation Number : TS-607-HC-2022(DEL)
  • Tax Payer : Expeditors International Of Washingtion, INC
Income tax Appellate Tribunal

ITAT: Losses incurred by Directors in individual capacity, not allowable to Company; Power to invest not inclusive of share-trade

  • In Favour of Revenue
  • Citation Number : TS-605-ITAT-2022(HYD)
  • Tax Payer : Nekkanti Systems Private Limited
High Court

HC: Upholds independent nature of Revenue’s power to reassess during pendency of appeal against assessment before CIT(A)

  • In Favour of Revenue
  • Citation Number : TS-595-HC-2022(DEL)
  • Tax Payer : Sunil Jain
High Court

HC: Dismisses Revenue's appeal on Sec.68 additions pursuant to Court approved amalgamation scheme

  • In Favour of Assessee
  • Citation Number : TS-600-HC-2022(CAL)
  • Tax Payer : Purbanchal Power Company Limited
High Court

HC: Dismisses Revenue's appeal as objection on jurisdiction under Sec.124(4) left undecided during assessment proceedings

  • In Favour of Assessee
  • Citation Number : TS-603-HC-2022(DEL)
  • Tax Payer : UV Realtors Private Limited
Income tax Appellate Tribunal

ITAT: Assessee qualifies as VCU, Sec.56(2)(viib) inapplicable on share premium received from VCF

  • In Favour of Assessee
  • Citation Number : TS-592-ITAT-2022(DEL)
  • Tax Payer : Bigfoot Retail Solution Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: TDS on gross contractual payment to digital media agency covered under Sec.194C, not Sec.194J

  • In Favour of Assessee
  • Citation Number : TS-604-ITAT-2022(Mum)
  • Tax Payer : Cowtown Software Design Pvt. Ltd., (Formerly known as Nabhiraja Software Design Pvt.Ltd.,)
Income tax Appellate Tribunal

ITAT: Remands case of Coop. Bank over peculiar accounting methodology for claim of bad & doubtful debts

  • In Favour of Both, Partially
  • Citation Number : TS-597-ITAT-2022(CHNY)
  • Tax Payer : The Dharmapuri District Central Co-operative Bank Ltd
Income tax Appellate Tribunal

ITAT: Amendment to Sec.14A prospective in nature; Follows Delhi HC's Era Infrastructure ruling

  • In Favour of Assessee
  • Citation Number : TS-598-ITAT-2022(CHNY)
  • Tax Payer : Maxivision Eye Hospital Pvt. Ltd
Supreme Court

SC: Divergent views on lower withholding certificate reflect on interplay of assessment & TDS regimes, significance of consistency

  • In Favour of None/NA
  • Citation Number : TS-599-SC-2022
  • Tax Payer : National Petroleum Construction Company
High Court

HC: Holds interest waiver application maintainable, not covered by superseding notification; Dismisses Revenue's writ appeals

  • In Favour of Assessee
  • Citation Number : TS-601-HC-2022(MAD)
  • Tax Payer : Van Oord ACZ Marine Contractors BV
Foreign Court

FC: Tax Court of Canada upholds GAAR on recycling of Capital Dividend Account through cross-redemption of shares

  • In Favour of Revenue
  • Citation Number : TS-596-FC-2022(CAN)
  • Tax Payer : 3295940 CANADA INC.
Income tax Appellate Tribunal

ITAT: ITAT: ITAT: Revenue's finding on DAPE not cogent, profit not attributable as transaction at ALP; Rejects plea for accessing email dump

  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2022(DEL)
  • Tax Payer : Adobe Systems Software Ireland Ltd
High Court

HC: HC: Directs Revenue to process ITRs manually for Sec.44BB entities, invalidated by CPC for non-disclosure of financials

  • In Favour of Assessee
  • Citation Number : TS-593-HC-2022(DEL)
  • Tax Payer : Almansoori Wireline Services Company LLC
Income tax Appellate Tribunal

ITAT: Sec.2(22)(e) addition basis common directors’ shareholding, unsustainable; Current account transactions not covered

  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2022(CHNY)
  • Tax Payer : Pallava Resorts Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Excess Interest Spread taxable over tenure of loan, not in year of securitisation; Upholds NBFC's revenue recognition policy

  • In Favour of Assessee
  • Citation Number : TS-590-ITAT-2022(CHNY)
  • Tax Payer : Cholamandalam Investment & Finance Co. Ltd
Income tax Appellate Tribunal

ITAT: Expounds on specific & general relaxations under TOLA; Allows Sec.115BAA benefit

  • In Favour of Assessee
  • Citation Number : TS-588-ITAT-2022(Mum)
  • Tax Payer : Suminter India Organics Pvt. Ltd