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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: Revision by CIT based on AO's recommendation lacks statutory sanction, unknown to law

  • In Favour of Assessee
  • Citation Number : TS-1024-ITAT-2021(PUN)
  • Tax Payer : Alfa Laval Lund AB
High Court

HC: Use of land by buyer as non-agricultural land does not make seller liable for capital gains

  • In Favour of Assessee
  • Citation Number : TS-1013-HC-2021(KER)
  • Tax Payer : Cochin Malabar Estates & Industries Ltd
High Court

HC: Expenditure on foreign travel arrangements for insurance agents not liable for TDS u/s 194D

  • In Favour of Assessee
  • Citation Number : TS-1016-HC-2021(BOM)
  • Tax Payer : SBI Life Insurance Company Ltd
High Court

HC: Dismisses Revenue’s writ against ITAT order over low tax-effect Circular, cites cascading effect

  • In Favour of Assessee
  • Citation Number : TS-1021-HC-2021(BOM)
  • Tax Payer : Emsons Exim Pvt. Ltd
High Court

HC: SRL not liable for TDS u/s 194H on sum retained by sample collection centres as commission

  • In Favour of Assessee
  • Citation Number : TS-1022-HC-2021(BOM)
  • Tax Payer : Super Religare Laboratories Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Allows depreciation at 60% on computer software, whether canned or uncanned

  • In Favour of Assessee
  • Citation Number : TS-1020-ITAT-2021(CHNY)
  • Tax Payer : Plintron Mobility Solutions Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Taxability of capital gains for charitable trust governed by Sec. 11(1A), Sec. 50C inapplicable

  • In Favour of Assessee
  • Citation Number : TS-1023-ITAT-2021(DEL)
  • Tax Payer : Swami Sukhdevanand Trust
Supreme Court

SC: Dismisses Revenue’s SLP against Bombay HC ruling over cash seized by Police, reported to Revenue

  • In Favour of Assessee
  • Citation Number : TS-1019-SC-2021
  • Tax Payer : Ashish Rajinder Kapila & Anr
Supreme Court

SC: Dismisses Revenue’s SLP against Kar HC ruling in Puma Sports over TDS on commission paid to foreign agents

  • In Favour of Assessee
  • Citation Number : TS-1018-SC-2021
  • Tax Payer : Puma Sports India Pvt. Ltd
Supreme Court

SC: Dismisses Revenue’s SLP against Kar HC ruling over depreciation on loss from cancellation of forward contracts covered u/s 43A

  • In Favour of Assessee
  • Citation Number : TS-1017-SC-2021
  • Tax Payer : Jsw Steel Ltd
Income tax Appellate Tribunal

ITAT: Rules on applicability & expanse of Black Money Act; Explicates on jurisprudence & underlying policy

  • In Favour of Revenue
  • Citation Number : TS-1015-ITAT-2021(Mum)
  • Tax Payer : Rashesh Manhar Bhansali
Income tax Appellate Tribunal

ITAT: Holds LTCG earned through transaction in Kappac Pharma’s shares as bogus, finds colourable device

  • In Favour of Revenue
  • Citation Number : TS-1014-ITAT-2021(DEL)
  • Tax Payer : Arihant Kumar Jain
Income tax Appellate Tribunal

ITAT: Services inextricably linked to mining activities covered by exclusion from FTS u/s 9(1)(vii), not taxable u/s 44DA

  • In Favour of Assessee
  • Citation Number : TS-1012-ITAT-2021(DEL)
  • Tax Payer : INTECSEA Asia Pacific Sdn Bhd
Income tax Appellate Tribunal

ITAT: Grants 50% ‘discounting’ adjustment for brokerage-services vis-a-vis independent & overseas clients; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-1010-ITAT-2021(Mum)
  • Tax Payer : Morgan Stanley India Company P. Ltd
Income tax Appellate Tribunal

ITAT: Allows McCann Ericsson’s claim for club membership, professional fees paid to Director

  • In Favour of Assessee
  • Citation Number : TS-1007-ITAT-2021(DEL)
  • Tax Payer : McCann Erickson India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Follows SC ruling in Mitsubishi Corp for interest u/s 234B in Ericsson's case; Follows HC ruling on PE issue

  • In Favour of Assessee
  • Citation Number : TS-1004-ITAT-2021(DEL)
  • Tax Payer : Ericsson, AB Sweden
Income tax Appellate Tribunal

ITAT: Expenditure incurred in foreign currency not excludible for computation of ‘export turnover’ of Infosys BPM u/s 10AA

  • In Favour of Assessee
  • Citation Number : TS-1006-ITAT-2021(Bang)
  • Tax Payer : Infosys BPM Limited
Income tax Appellate Tribunal

ITAT: No obligation for TDS on LTC payments for circuitous domestic tour involving foreign travel

  • In Favour of Assessee
  • Citation Number : TS-987-ITAT-2021(Mum)
  • Tax Payer : State Bank of India
Income tax Appellate Tribunal

ITAT: Accepts revenue recognition on execution of sale deed for real estate developer, AS-7 inapplicable

  • In Favour of Assessee
  • Citation Number : TS-1003-ITAT-2021(DEL)
  • Tax Payer : Maxworth Infrastructure P. Ltd
Income tax Appellate Tribunal

ITAT: Inclusion of loss as ‘expenditure’ or ‘allowance’ u/s 115BBD debatable issue, not rectifiable u/s 154

  • In Favour of Assessee
  • Citation Number : TS-1002-ITAT-2021(DEL)
  • Tax Payer : Rakesh Kumar Pandita