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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: Upholds taxability of remuneration from coaching institute as business income, allows 50% as expenditure

  • In Favour of Assessee
  • Citation Number : TS-25-ITAT-2022(Mum)
  • Tax Payer : Ketan Sureshchandra Shah
Income tax Appellate Tribunal

ITAT: Residential property subsequently converted for commercial use eligible for exemption u/s 54F

  • In Favour of Assessee
  • Citation Number : TS-21-ITAT-2022(DEL)
  • Tax Payer : Yash Suneja
Income tax Appellate Tribunal

ITAT: Receipt of final instalment not relevant for determining period of ‘one year before’ u/s 54F, upholds exemption

  • In Favour of Assessee
  • Citation Number : TS-30-ITAT-2022(Mum)
  • Tax Payer : Niranjan Bhadang
Income tax Appellate Tribunal

ITAT: Deprecates Assessee’s casual use of 'arbitrary' & 'whimsical' against CIT(A)’s order

  • In Favour of Assessee
  • Citation Number : TS-22-ITAT-2022(DEL)
  • Tax Payer : Abdul Wahab
High Court

HC: Quashes reassessment notice for change of opinion in Bennett Property's case

  • In Favour of Assessee
  • Citation Number : TS-28-HC-2022(BOM)
  • Tax Payer : Bennett Property Holdings Company Ltd
High Court

HC: Disposes of writ in light of affidavit by Chairman, CBDT assuring expeditious resolution of e-filing glitches by dedicated team

  • In Favour of None/NA
  • Citation Number : TS-36-HC-2022(GUJ)
  • Tax Payer : The Southern Gujarat Income Tax Bar Association
Foreign Court

FC: Danish Tax Council decides against constitution of German employer's PE due to employee working from home at Denmark

  • In Favour of Assessee
  • Citation Number : TS-1195-FC-2021(DEN)
  • Tax Payer : H1
High Court

HC: Dismisses Revenue's appeals involving over Rs.1300 Cr. addition including post-demonetisation deposits; Finds no substantial question of law

  • In Favour of Assessee
  • Citation Number : TS-31-HC-2022(DEL)
  • Tax Payer : Agson Global Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Unreasonable to reject share valuation citing difference in projected & actual financials; Deletes NAV-based addition made u/s 56(2)(viib)

  • In Favour of Assessee
  • Citation Number : TS-32-ITAT-2022(Mum)
  • Tax Payer : Credtalpha Alternative Investment Advisors Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds cancellation of agreement as colourable device but compensation received as non-taxable capital receipt

  • In Favour of Assessee
  • Citation Number : TS-29-ITAT-2022(Ahd)
  • Tax Payer : Khevana Securities and Finstock Ltd
Income tax Appellate Tribunal

ITAT: Sections 56(2)(viia) & 68 inapplicable to firm receiving Wockhardt shares as gift; Quashes revisionary order

  • In Favour of Assessee
  • Citation Number : TS-27-ITAT-2022(Mum)
  • Tax Payer : Humuza Consultants
High Court

HC: Quashes reassessment, original-assessment based on TPO's-observations to assessee’s full disclosure; Subsequent AY proceedings irrelevant

  • In Favour of Assessee
  • Citation Number : TS-24-HC-2022(BOM)
  • Tax Payer : Oracle Financial Services Software Limited
High Court

HC: HC: Tour expenditure incurred by Pharma Co. for Doctors, allowable u/s 37(1); Circular No.5/2012 prospective in nature

  • In Favour of Assessee
  • Citation Number : TS-23-HC-2022(BOM)
  • Tax Payer : Goldline Pharmaceuticals Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Companies with 'Active' status in MCA records not shell companies; Additions u/s 68 unsustainable

  • In Favour of Assessee
  • Citation Number : TS-1193-ITAT-2021(Ahd)
  • Tax Payer : Adarsh Capital Finstock Ltd
High Court

HC: Quashes reassessment proceedings based on change of opinion; Material facts furnished and issue analysed already

  • In Favour of Assessee
  • Citation Number : TS-1194-HC-2021(BOM)
  • Tax Payer : Skoda Auto Volkswagen India Private Limited
High Court

HC: Transfer of technical know-how in slump sale cannot be equated to goodwill transfer

  • In Favour of Assessee
  • Citation Number : TS-1165-HC-2021(KAR)
  • Tax Payer : ABB Ltd
Income tax Appellate Tribunal

ITAT: Income from cold storage business aligned with crop cycle not taxable on general principles of accrual

  • In Favour of Assessee
  • Citation Number : TS-1191-ITAT-2021(LKW)
  • Tax Payer : A.K. Cold Storage Pvt. Ltd
High Court

HC: Follows Delhi, Allahabad & Rajasthan HCs to quash reassessment notices; AOs at liberty to issue fresh notices under new regime

  • In Favour of Assessee
  • Citation Number : TS-20-HC-2022(CAL)
  • Tax Payer : Manoj Jain
High Court

HC: Facts not determinative of right to personal hearing in faceless assessments; Interprets 'may' as 'shall' u/s 144B(7)(viii)

  • In Favour of Assessee
  • Citation Number : TS-19-HC-2022(DEL)
  • Tax Payer : Bharat Aluminium Company Ltd
Income tax Appellate Tribunal

ITAT: Software found dysfunctional & written off on CBI investigation, not eligible for depreciation

  • In Favour of Revenue
  • Citation Number : TS-1187-ITAT-2021(Bang)
  • Tax Payer : iGNIS Technology Solutions Pvt. Ltd