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Rulings ( 13514 results )

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Income tax Appellate Tribunal

ITAT: Deletes Sec. 68 addition on penny stock gains, disproves AO’s allegation of share price rigging

Jul 05, 2025
  • In Favour of Assessee
  • Citation Number : TS-876-ITAT-2025(Mum)
  • Tax Payer : Nayan Bipinchandra Shah
High Court

HC: Hypertechnical approach cannot be ground for assumption of jurisdiction to reopen assessment

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-870-HC-2025(GUJ)
  • Tax Payer : Lata Kamalbhai Shah Lh Of Late Kamalbhai Ramniklal Shah & Anr
Income tax Appellate Tribunal

ITAT: Upholds TDS default against SBI vis-a-vis foreign travel LTC claims

Jul 04, 2025
  • In Favour of Revenue
  • Citation Number : TS-869-ITAT-2025(CHNY)
  • Tax Payer : State Bank of India
Income tax Appellate Tribunal

ITAT: Rejects DVO’s valuation, directs re-valuation considering property restrictions & distress sale

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-868-ITAT-2025(Mum)
  • Tax Payer : Gaurav Rajesh Desai
High Court

HC: HC: Payments to parent company in usual course of business not ‘Deemed Dividend’ u/s 2(22)(e) or advances

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-866-HC-2025(TEL)
  • Tax Payer : Prasad Film Laboratories Pvt. Ltd
High Court

HC: Condones delay in e-verifying Form 10B given genuine hardship & prejudice caused to Kotak Foundation

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-860-HC-2025(BOM)
  • Tax Payer : Kotak Family Foundation
High Court

HC: Quashes the notices issued u/s. 148A(b) & 148 as invalid, following Rajeev Bansal

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-857-HC-2025(GUJ)
  • Tax Payer : Saroj Predhiman Kaw
High Court

HC: Quashes assessment order; Directs Faceless Assessment Authority to comply with SOP

Jul 04, 2025
  • In Favour of Assessee
  • Citation Number : TS-853-HC-2025(GUJ)
  • Tax Payer : Hiraben Pragjibhai Tala
High Court

HC: Applies 'purpose test'; State subsidy to RIL an industrialization incentive, hence capital receipt

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-865-HC-2025(BOM)
  • Tax Payer : Bajaj Auto Limited
High Court

HC: Holds BPCL’s reassessment basis 'bald assertion' unsustainable, given change of opinion by AO

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-864-HC-2025(BOM)
  • Tax Payer : Bharat Petroleum Corporation Ltd.
Income tax Appellate Tribunal

ITAT: Deletes Sec. 40(a)(ia) disallowance as interest expenditure not claimed under presumptive taxation

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-863-ITAT-2025(Ahd)
  • Tax Payer : Rushabh Rameshbhai Prajapati
Income tax Appellate Tribunal

ITAT: Sets aside Sec. 263 revision against Union Bank initiated basis Andhra Bank’s pre-amalgamation assessment order

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-862-ITAT-2025(Mum)
  • Tax Payer : Union Bank of India
Income tax Appellate Tribunal

ITAT: Allows Sec. 115BAC relief despite denial in preceding AY; Beneficial provisions to be construed liberally

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-861-ITAT-2025(Mum)
  • Tax Payer : Madan Lachhmandas Asrani
Income tax Appellate Tribunal

ITAT: Confirms disallowance for failure to justify lower interest rate on loan to related parties vis-à-vis unrelated parties

Jul 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-859-ITAT-2025(Mum)
  • Tax Payer : Jackie Mahesh Vora
Income tax Appellate Tribunal

ITAT: Additions u/s 153A not based on incriminating material, invocation of Sec. 40A(2)(b) unwarranted

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-858-ITAT-2025(Mum)
  • Tax Payer : Underwater Services Company Ltd
Income tax Appellate Tribunal

ITAT: Quashes Sec. 148 notice issued to NRI by AO, cites jurisdiction vests with ITO (Intl. Taxation)

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-856-ITAT-2025(Mum)
  • Tax Payer : Sanand Sankardas
Income tax Appellate Tribunal

ITAT: Quashes penalty u/s 271(1)(c), 271B on Assessee-trust claiming exemption u/s 11 & 12

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-847-ITAT-2025(Bang)
  • Tax Payer : Dakshina Kannada Nirmithi Kendra
Income tax Appellate Tribunal

ITAT: Deletes addition basis statement recorded u/s 134(2), absent substantive corroborative material

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-854-ITAT-2025(DEL)
  • Tax Payer : Vision Exports
Income tax Appellate Tribunal

ITAT: TDS deduction u/s 194I not applicable on payments made towards alternate accommodation/rent

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-855-ITAT-2025(Mum)
  • Tax Payer : Shivalik Ventures Pvt. Ltd
High Court

HC: Criticizes Revenue for "Arbitrary" recovery; Directs grant of tax refund

Jul 02, 2025
  • In Favour of Assessee
  • Citation Number : TS-852-HC-2025(MAD)
  • Tax Payer : Greaves Electric Mobility Limited