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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: Directs Revenue to apply beneficial treaty rate over DDT rate; Applies Giesecke & Devrient ratio

  • In Favour of Assessee
  • Citation Number : TS-324-ITAT-2021(Kol)
  • Tax Payer : Indian Oil Petronas Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Crab meat producer eligible for deduction u/s 10B; Applies consistency, legitimate expectation, promissory estoppel

  • In Favour of Assessee
  • Citation Number : TS-325-ITAT-2021(CHNY)
  • Tax Payer : Handy Waterbase India Pvt. Ltd
Authority for Advance Rulings

AAR: AAR: Dismisses application as issue pending before ITAT for earlier years, applies bar u/s 245R(2)

  • In Favour of Revenue
  • Citation Number : TS-322-AAR-2021
  • Tax Payer : XYZ Inc.
Income tax Appellate Tribunal

ITAT: Allows treaty benefits on shipping income to Co. 'incorporated, controlled, managed’ in UAE; Rejects LoB invocation

  • In Favour of Assessee
  • Citation Number : TS-321-ITAT-2021(Mum)
  • Tax Payer : Interworld Shipping Agency LLC
Income tax Appellate Tribunal

ITAT: TDS on WNS-Aviva indirect transfer of 2008 hit by doctrine of impossibility; Follows Engineering Analysis

  • In Favour of Assessee
  • Citation Number : TS-320-ITAT-2021(Mum)
  • Tax Payer : WNS Capital Investment Limited
Income tax Appellate Tribunal

ITAT: Developer’s ‘unsold’ stock-in-trade not liable to deemed rent, Sec. 23(5) prospective from AY 2018-19

  • In Favour of Assessee
  • Citation Number : TS-318-ITAT-2021(PUN)
  • Tax Payer : Kumar Properties and Real Estate Private Limited
High Court

HC: Upholds reassessment due to discrepancy in TDS records, Shah Commission Report

  • In Favour of Revenue
  • Citation Number : TS-317-HC-2021(MAD)
  • Tax Payer : Thriveni Earthmovers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Application of income outside India not valid criteria to reject application u/s 12AA

  • In Favour of Assessee
  • Citation Number : TS-306-ITAT-2021(CHANDI)
  • Tax Payer : Sarbat The Bhala Gurmat Mission Charitable Trust
Income tax Appellate Tribunal

ITAT: Holds that profit from business not confined to operation of ships for deduction u/s 33AC

  • In Favour of Assessee
  • Citation Number : TS-308-ITAT-2021(Mum)
  • Tax Payer : Tolani Shipping Co. Ltd
Income tax Appellate Tribunal

ITAT: Holds prior period expenses allowable if no change in maximum marginal rate of taxation

  • In Favour of Assessee
  • Citation Number : TS-313-ITAT-2021(JPR)
  • Tax Payer : Soni Hospitals Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Interest on enhanced compensation, a non-taxable capital receipt; Deletes addition u/s 56(2)(viii)

  • In Favour of Assessee
  • Citation Number : TS-298-ITAT-2021(DEL)
  • Tax Payer : Nariender Kumar
Income tax Appellate Tribunal

ITAT: Financial Consultant's share sale transaction taxable as capital gains, not business income

  • In Favour of Assessee
  • Citation Number : TS-299-ITAT-2021(DEL)
  • Tax Payer : Divya Shakti Trading Services Ltd
Income tax Appellate Tribunal

ITAT: Grants telescopic benefit against income offered during search; Deletes addition u/s 69 on unaccounted land purchase

  • In Favour of Assessee
  • Citation Number : TS-315-ITAT-2021(Ind)
  • Tax Payer : Virasha Infrastructure
Income tax Appellate Tribunal

ITAT: Interest on delayed TDS remittance, not 'expenditure' incurred wholly & exclusively for business purposes; Denies deduction u/s 37(1)

  • In Favour of Revenue
  • Citation Number : TS-296-ITAT-2021(DEL)
  • Tax Payer : New Modern Bazaar Departmental Store Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Extends treaty benefit to Air India over Sec. 206AA TDS rate; Follows Delhi HC's Danisco ruling

  • In Favour of Assessee
  • Citation Number : TS-316-ITAT-2021(DEL)
  • Tax Payer : Air India Limited
Income tax Appellate Tribunal

ITAT: Deletes addition on unaccounted FD made on society on account of factual error; Grants exemption u/s 11

  • In Favour of Assessee
  • Citation Number : TS-314-ITAT-2021(HYD)
  • Tax Payer : Nalgonda Diocese Social Service Society
High Court

HC: Invoking appellate or writ machinery uncalled for where issue demands Sec 264 revision

  • In Favour of Assessee
  • Citation Number : TS-312-HC-2021(BOM)
  • Tax Payer : Aafreen Fatima Fazal Abbas Sayed
Income tax Appellate Tribunal

ITAT: Holds penalty u/s 271AAA levied on ad-hoc addition in assessment order, unsustainable

  • In Favour of Assessee
  • Citation Number : TS-311-ITAT-2021(DEL)
  • Tax Payer : Ace Steel Fab (P) Ltd
Income tax Appellate Tribunal

ITAT: Holds proceedings u/s 263 cannot go beyond the reasons for limited scrutiny

  • In Favour of Assessee
  • Citation Number : TS-310-ITAT-2021(Kol)
  • Tax Payer : Spotlight Vanijya Ltd.
High Court

HC: R&D for export of customised electronic data constitutes ‘Engineering and Design’ for Sec.10B purposes; Allows deduction

  • In Favour of Assessee
  • Citation Number : TS-309-HC-2021(KAR)
  • Tax Payer : Marmon Food and Beverage Technologies India (P) Ltd