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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: IPO expenses of PC Jewellers attributable to proceeds utilised for working capital, deductible u/s 37(1); Balance allowable u/s 35D

  • In Favour of Assessee
  • Citation Number : TS-1119-ITAT-2021(DEL)
  • Tax Payer : PC Jewellers Ltd
Income tax Appellate Tribunal

ITAT: Extended time-period u/s 201(3) vide FA 2014 inapplicable to AY 2009-10, holds order u/s 201(1A) barred by limitation

  • In Favour of Assessee
  • Citation Number : TS-1117-ITAT-2021(DEL)
  • Tax Payer : Aleo Manali Hydro Power Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Infrastructure support fee received by mall owners, business income; Upholds bifurcation as rental & business income

  • In Favour of Assessee
  • Citation Number : TS-1115-ITAT-2021(DEL)
  • Tax Payer : Ruchi Malls Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Refund of sales tax as subsidy, non-taxable capital receipt; Applies purpose test

  • In Favour of Assessee
  • Citation Number : TS-1113-ITAT-2021(Mum)
  • Tax Payer : Shree Vaishnav Casting Pvt. Ltd
High Court

HC: Revenue’s delay in filing appeal prejudiced Assessee’s right to opt for VsV; Rejects condonation application

  • In Favour of Assessee
  • Citation Number : TS-1124-HC-2021(CAL)
  • Tax Payer : Nitu Agarwal
Income tax Appellate Tribunal

ITAT: Construes ‘received’ u/s 153(2A) as ‘having knowledge’ of remand order; Holds Qualcomm’s fresh assessment, time-barred

  • In Favour of Assessee
  • Citation Number : TS-1126-ITAT-2021(DEL)
  • Tax Payer : Qualcomm Incorporated USA
Income tax Appellate Tribunal

ITAT: Subsidy to Jindal Steel for industrial unit in backward area, non-taxable; Breaks from coordinate bench’s view

  • In Favour of Assessee
  • Citation Number : TS-1125-ITAT-2021(DEL)
  • Tax Payer : Jindal Steel & Power Ltd
Income tax Appellate Tribunal

ITAT: Legal fees paid by Indian lawyer to non-residents distinct from FTS, deletes disallowance made u/s 40(a)(i)

  • In Favour of Assessee
  • Citation Number : TS-1123-ITAT-2021(DEL)
  • Tax Payer : Chander Mohan Lall
Foreign Court

FC: Supreme Court of Italy holds TRC not a Decisive Proof of Beneficial Ownership

  • In Favour of Revenue
  • Citation Number : TS-1118-FC-2021(ITL)
  • Tax Payer : Ovvio Italia spa
Income tax Appellate Tribunal

ITAT: Consideration for database access received by Dow Jones & Co. not ​taxable as ​royalty under India-US DTAA

  • In Favour of Assessee
  • Citation Number : TS-1114-ITAT-2021(DEL)
  • Tax Payer : Dow Jones & Company Inc.
Income tax Appellate Tribunal

ITAT: Allows Sr. Adv. Harish Salve proportionate tax-credit u/s 90 on overseas income offered to tax in India

  • In Favour of Assessee
  • Citation Number : TS-1116-ITAT-2021(DEL)
  • Tax Payer : Harish N. Salve
Income tax Appellate Tribunal

ITAT: ITAT: Faber Castell not liable to tax on royalty accrued & waived off, backed by RBI's no-objection

  • In Favour of Assessee
  • Citation Number : TS-1112-ITAT-2021(DEL)
  • Tax Payer : Faber Castell Aktiengesellschaft Numberger
Income tax Appellate Tribunal

ITAT: Expenditure on promotion of brand 'Snapdeal' allowable, revenue in nature; Rejects Revenue’s enduring benefit plea

  • In Favour of Assessee
  • Citation Number : TS-1111-ITAT-2021(DEL)
  • Tax Payer : Jasper Infotech Pvt. Ltd
High Court

HC: HC: Upholds parliamentary supremacy over administrative power, quashes reassessment notices

  • In Favour of Assessee
  • Citation Number : TS-1110-HC-2021(DEL)
  • Tax Payer : Mon Mohan Kohli
Income tax Appellate Tribunal

ITAT: Bank guarantee commission, in nature of fee paid on principal-to-principal basis, not covered u/s 194H

  • In Favour of Assessee
  • Citation Number : TS-1108-ITAT-2021(DEL)
  • Tax Payer : Elymer International Pvt. Ltd
Foreign Court

FC: Canadian Supreme Court, with 6:3 majority, decides GAAR controversy over capital gains exemption in Alta Energy’s favour

  • In Favour of Assessee
  • Citation Number : TS-1109-FC-2021(CAN)
  • Tax Payer : Alta Energy Luxembourg S.A.R.L.
High Court

HC: Grasim Industries not liable for reassessment; Correspondence with Revenue Audit indicates AO was under pressure

  • In Favour of Assessee
  • Citation Number : TS-1107-HC-2021(BOM)
  • Tax Payer : Grasim Industries Limited
High Court

HC: Directs Revenue to decide Sec.197 application in 2 weeks, on transaction covered by Engineering Analysis

  • In Favour of Assessee
  • Citation Number : TS-1106-HC-2021(DEL)
  • Tax Payer : Alcatel Lucent International
Income tax Appellate Tribunal

ITAT: On invocation of Sec.50C, difference between consideration & SDV cannot be attributed to gift

  • In Favour of Revenue
  • Citation Number : TS-1105-ITAT-2021(Ahd)
  • Tax Payer : Nilesh Tanukumar Patel
High Court

HC: HC: HC: Sum received by EY Global for providing software-access to EY network firms not taxable as royalty

  • In Favour of Assessee
  • Citation Number : TS-1104-HC-2021(DEL)
  • Tax Payer : EY Global Services Limited