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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: No penalty u/s 221 for non-payment of self-assessment tax due to financial constraints

  • In Favour of Assessee
  • Citation Number : TS-1000-ITAT-2021(Mum)
  • Tax Payer : Karanja Terminal and Logistic Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Stake money not ‘winnings’, Bangalore Turf Club not liable for TDS u/s 194BB & 194B

  • In Favour of Assessee
  • Citation Number : TS-999-ITAT-2021(Bang)
  • Tax Payer : Bangalore Turf Club Ltd
High Court

HC: Withholding rate of 5% applicable on dividend receivable by Dutch Co., follows Concentrix ruling

  • In Favour of Assessee
  • Citation Number : TS-1008-HC-2021(DEL)
  • Tax Payer : Deccan Holdings B V
High Court

HC: Abu Dhabi Investment Authority's income earned through Jersey-based trust exempt in India; Quashes AAR ruling

  • In Favour of Assessee
  • Citation Number : TS-1011-HC-2021(BOM)
  • Tax Payer : Abu Dhabi Investment Authority
Income tax Appellate Tribunal

ITAT: Upholds electricity purchase from SEB as external-CUP over IEX-rates, Accepts at-cost transfer of steam at ALP

  • In Favour of Assessee
  • Citation Number : TS-1009-ITAT-2021(DEL)
  • Tax Payer : DCM Shriram Ltd
Income tax Appellate Tribunal

ITAT: Deletes Rs.257.87 Cr. addition of share premium u/s 56(2)(viib) for GMR Enterprises; Directs fresh examination

  • In Favour of Assessee
  • Citation Number : TS-1005-ITAT-2021(Bang)
  • Tax Payer : GMR Enterprises Pvt. Ltd
Foreign Court

FC: Bulgarian Supreme Administrative Court treats company with resources to earn royalty as Beneficial Owner

  • In Favour of Assessee
  • Citation Number : TS-761-FC-2020(BUL)
  • Tax Payer : Fox Networks Group Bulgaria EOOD
Foreign Court

FC: Bulgarian Supreme Administrative Court holds entity engaged in back-to-back loan transactions, not a Beneficial Owner

  • In Favour of Revenue
  • Citation Number : TS-760-FC-2020(BUL)
  • Tax Payer : Profi Credit Bulgaria EOOD
High Court

HC: Officer passing faceless assessment order alone can file affidavit-in-reply; Quashes order for non-adherence to Sec.144B

  • In Favour of Assessee
  • Citation Number : TS-1001-HC-2021(BOM)
  • Tax Payer : Abacus Real Estate Pvt Ltd
High Court

HC: Upholds prosecution for non-filing of return, burden of proof on Assessee; Follows SC ruling in Sasi Enterprises

  • In Favour of Revenue
  • Citation Number : TS-998-HC-2021(MAD)
  • Tax Payer : Raman Krishna Kumar
Income tax Appellate Tribunal

ITAT: Upholding internal CUP, deletes downward TP adjustment of SDT involving deduction u/s 80IA

  • In Favour of Assessee
  • Citation Number : TS-997-ITAT-2021(Kol)
  • Tax Payer : Star Paper Mills Limited
High Court

HC: Quashes Sec.153A notice as bereft of any material; Allows issuance of fresh notice with base information

  • In Favour of Assessee
  • Citation Number : TS-996-HC-2021(BOM)
  • Tax Payer : Underwater Services Company Limited
Income tax Appellate Tribunal

ITAT: ITAT: Receipts from web-based database services, subscription of e-journals not taxable as Royalty under India-US DTAA

  • In Favour of Assessee
  • Citation Number : TS-995-ITAT-2021(Mum)
  • Tax Payer : American Chemical Society
High Court

HC: Remands issue of service charge in sum of Rs.1225 Cr. paid for land acquisition, in Bangalore Metro's TDS dispute

  • In Favour of Assessee
  • Citation Number : TS-994-HC-2021(KAR)
  • Tax Payer : Bangalore Metro Rail Corporation Limited
High Court

HC: Holds assessment on Himalaya Drug invalid as notice u/s 153C issued by AO before conferment of jurisdiction u/s 127

  • In Favour of Assessee
  • Citation Number : TS-992-HC-2021(KAR)
  • Tax Payer : Himalaya Drug Company
High Court

HC: Incurring expenditure, demolition of pre-existing structure determinative of ‘put to use’ test for land

  • In Favour of Assessee
  • Citation Number : TS-991-HC-2021(MAD)
  • Tax Payer : Ceebros Hotels P Ltd
High Court

HC: No offence u/s 50 of BMA when foreign assets disclosed in revised return; Quashes criminal complaint

  • In Favour of Assessee
  • Citation Number : TS-990-HC-2021(KAR)
  • Tax Payer : K. Mohammed Haris
High Court

HC: Treats assessment order in violation of Sec.144C as draft order; Directs DRP for time-bound disposal of objections

  • In Favour of Both, Partially
  • Citation Number : TS-989-HC-2021(DEL)
  • Tax Payer : Criteo Singapore Pte. Ltd
Income tax Appellate Tribunal

ITAT: Delay in making investment attributable to Broker, allows Assessee exemption u/s 54EC

  • In Favour of Assessee
  • Citation Number : TS-988-ITAT-2021(Mum)
  • Tax Payer : Poonam Haresh Budhrani
Income tax Appellate Tribunal

ITAT: Allows Canon India’s claim of FTC for entire sum withheld in Japan; Follows HCL Comnet ruling

  • In Favour of Assessee
  • Citation Number : TS-986-ITAT-2021(DEL)
  • Tax Payer : Canon India Pvt. Ltd.