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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: Forfeiture of loan amount recategorized as advance for property, not taxable u/s 28(iv), covered u/s 51

  • In Favour of Assessee
  • Citation Number : TS-509-ITAT-2021(Bang)
  • Tax Payer : Archana Traders Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Denies set-off accumulated losses on amalgamation for non-fulfilment of 75% shareholding u/s 2(1B)(iii) on appointed date

  • In Favour of Assessee
  • Citation Number : TS-508-ITAT-2021(CHNY)
  • Tax Payer : Roca Bathroom Products Pvt. Ltd
High Court

HC: Dismisses Karti Chidambaram's writ against Sec.153C notice; Finds no malice, lack of jurisdiction

  • In Favour of Revenue
  • Citation Number : TS-507-HC-2021(MAD)
  • Tax Payer : Karti P. Chidambaram
Foreign Court

FC: Korean Supreme Court holds Collective Investment Vehicles as both tax residents & beneficial owners

  • In Favour of Assessee
  • Citation Number : TS-757-FC-2020(KOR)
  • Tax Payer : Citibank Korea Co. Ltd. and 7 others
Income tax Appellate Tribunal

ITAT: Anguished by CIT-Appeal’s lack of ‘judicious’ approach; Emphasises on Ease of doing business

  • In Favour of Assessee
  • Citation Number : TS-506-ITAT-2021(Mum)
  • Tax Payer : Qantas Airways Limited
Income tax Appellate Tribunal

ITAT: Upholds revision over veracity of donations, inadequacy of FCRA Form-FC6

  • In Favour of Revenue
  • Citation Number : TS-505-ITAT-2021(Mum)
  • Tax Payer : Alimaan Charitable Trust
Income tax Appellate Tribunal

ITAT: Retrospective amendment of Sec.195 cannot be pressed to disallow expenditure retrospectively u/s 40(a)(i)

  • In Favour of Assessee
  • Citation Number : TS-504-ITAT-2021(DEL)
  • Tax Payer : McCANN Erickson (India) Pvt.Ltd
High Court

HC: Strikes down VsV Circular-FAQ 71 over exclusion of appeal against intimation u/s 143(1)(a)(ii)

  • In Favour of Assessee
  • Citation Number : TS-503-HC-2021(BOM)
  • Tax Payer : Chandrakant Narayan Patkar Charitable Trust
High Court

HC: Condonation of delay in appeal-filing by CIT(A) makes Assessee eligible under VsV Act

  • In Favour of Assessee
  • Citation Number : TS-491-HC-2021(BOM)
  • Tax Payer : Karan Ventakeshwara Associates
Income tax Appellate Tribunal

ITAT: ITAT: Rules on profit attribution, software payments; Follows Assessee's own case, Engineering Analysis

  • In Favour of Assessee
  • Citation Number : TS-502-ITAT-2021(DEL)
  • Tax Payer : ZTE Corporation
Income tax Appellate Tribunal

ITAT: Business loss/depreciation to be set-off entirely for computing book profit u/s 115JB(2)

  • In Favour of Revenue
  • Citation Number : TS-501-ITAT-2021(CHNY)
  • Tax Payer : SKM EGG Products Export (I) Ltd
Income tax Appellate Tribunal

ITAT: Remits appeal on allowability of interest expense against income u/s 57, allowed without scrutiny in earlier years

  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2021(CHANDI)
  • Tax Payer : Ravinandan Kumar
Income tax Appellate Tribunal

ITAT: Restores issue of disallowance of GST on rental income to CIT(A) for examination u/s 23

  • In Favour of Assessee
  • Citation Number : TS-486-ITAT-2021(CHANDI)
  • Tax Payer : Ashok Kumar
Income tax Appellate Tribunal

ITAT: Deletes additions u/s 69B made solely on basis of DVO’s report

  • In Favour of Assessee
  • Citation Number : TS-492-ITAT-2021(Ahd)
  • Tax Payer : Chirag Dashrathbhai Patel
Income tax Appellate Tribunal

ITAT: Allows Assessee’s appeal against Revenue’s summary rejection of 154 application

  • In Favour of Assessee
  • Citation Number : TS-495-ITAT-2021(Ahd)
  • Tax Payer : The Ranuj Nagrik Sahakari Bank Ltd
Income tax Appellate Tribunal

ITAT: ‘Right to toll’ eligible for depreciation @ 25%, Interest payment under funded loan agreement not disallowable u/s 43B

  • In Favour of Assessee
  • Citation Number : TS-496-ITAT-2021(HYD)
  • Tax Payer : Madhurai Tuticorin Expressways Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Sale of software/ license not ‘royalty’; Business profits sans PE, not taxable

  • In Favour of Assessee
  • Citation Number : TS-485-ITAT-2021(PUN)
  • Tax Payer : Ansys Inc.
Foreign Court

FC: South African Court holds situs of employment in Employer's State, not where services rendered

  • In Favour of Revenue
  • Citation Number : TS-787-FC-2018(SAFR)
  • Tax Payer : Mr. X
High Court

HC: Delay condoned by ITAT determinative of pending dispute; Holds VsV declaration valid

  • In Favour of Assessee
  • Citation Number : TS-500-HC-2021(TEL)
  • Tax Payer : Boddu Ramesh
Income tax Appellate Tribunal

ITAT: Finds share warrants issue compliant with SEBI, Companies, Income-tax law, deletes addition u/s 68

  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2021(Mum)
  • Tax Payer : Brima Sagar Maharashtra Distilleries Ltd