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Rulings ( 15461 results )

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Income tax Appellate Tribunal

ITAT:Possession of property and non-cancellation of development agreement, taxable as capital gains

  • In Favour of Both, Partially
  • Citation Number : TS-644-ITAT-2020(HYD)
  • Tax Payer : Santosh Kumar Subbani
High Court

HC:Share-transfer to subsidiary for corporate restructuring, absent voluntariness, not gift; Upholds capital gains tax

  • In Favour of Revenue
  • Citation Number : TS-643-HC-2020(MAD)
  • Tax Payer : Redington (India) Limited
Foreign Court

FC: Italian SC: Trusts, recognized under Italian legal system, qualify as 'person' for treaty benefits

  • In Favour of Revenue
  • Citation Number : TS-742-FC-2020(ITL)
  • Tax Payer : National Westminster Bank PLC
High Court

HC: Allows Wipro to carry-forward losses despite belated filing of mandatory declaration forgoing deduction u/s 10B

  • In Favour of Assessee
  • Citation Number : TS-642-HC-2020(KAR)
  • Tax Payer : Wipro Limited
Income tax Appellate Tribunal

ITAT:CIT(A) bound to decide appeal on merits even where assessee doesn't show up

  • In Favour of Assessee
  • Citation Number : TS-641-ITAT-2020(DEL)
  • Tax Payer : Numex Techbuild Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Different views by HCs not rectifiable as 'mistake apparent from record' u/s 254(2)

  • In Favour of Assessee
  • Citation Number : TS-639-ITAT-2020(SUR)
  • Tax Payer : Gufic Private Limited
Income tax Appellate Tribunal

ITAT: Huawei China bore 'rejection risk' for telecom equipment supply; Upholds PE & business connection in India

  • In Favour of Revenue
  • Citation Number : TS-638-ITAT-2020(DEL)
  • Tax Payer : Huawei Technologies Co. Ltd
Income tax Appellate Tribunal

ITAT: LTCG from penny stocks adequately inquired, not amenable to revision

  • In Favour of Assessee
  • Citation Number : TS-637-ITAT-2020(Kol)
  • Tax Payer : Sunil Kumar Agarwal (HUF)
High Court

HC: Income arising from disallowance of expenditure can't be penalised u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-636-HC-2020(MAD)
  • Tax Payer : Rattha Citadines Boulevard Chennai Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Upholds 'genuineness' of investment by Kalaari Capital backed Mauritian Co. in Indian Start-up

  • In Favour of Assessee
  • Citation Number : TS-635-ITAT-2020(DEL)
  • Tax Payer : Usekiwi Infolabs Private Limited
Income tax Appellate Tribunal

ITAT: Shares issued against book adjustments not an unexplained cash credit u/s 68

  • In Favour of Assessee
  • Citation Number : TS-634-ITAT-2020(Kol)
  • Tax Payer : Josan Deposits & Advances Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Frequent gains from shares held for less than 30 days taxable as business income

  • In Favour of Revenue
  • Citation Number : TS-633-ITAT-2020(SUR)
  • Tax Payer : Sunilkumar Somitra Singh Dangi
Income tax Appellate Tribunal

ITAT: German Bank's interest income not assessable under Article 7, once taxed under Article 11

  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2020(Mum)
  • Tax Payer : DZ Bank AG India Representative Office
Supreme Court

SC:State's 'administrative lethargy' in notifying electricity duty rebate violates doctrine of promissory estoppel

  • In Favour of Assessee
  • Citation Number : TS-631-SC-2020
  • Tax Payer : Brahmputra Metallics Ltd., Ranchi and Anr
Income tax Appellate Tribunal

ITAT: Cost of acquisition of apartment to include cost of amenities covered by contemporaneous agreements

  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2020(Mum)
  • Tax Payer : Rashmi Mahendra Dhanani
High Court

HC:Royalty paid to Hitachi for acquiring know how/licence for manufacturing/sale is capex

  • In Favour of Revenue
  • Citation Number : TS-628-HC-2020(KAR)
  • Tax Payer : Telco Construction Co. Ltd
Income tax Appellate Tribunal

ITAT: Deduction u/s 80P allowable to co-operative society despite delayed filing of ITR

  • In Favour of Assessee
  • Citation Number : TS-627-ITAT-2020(CHNY)
  • Tax Payer : DAEE Coop T&C Society
Income tax Appellate Tribunal

ITAT:Directs factual verification of income reflected by erroneous RoI and peculiar conditions

  • In Favour of Assessee
  • Citation Number : TS-626-ITAT-2020(GAU)
  • Tax Payer : H. Binita Bali Singha
Income tax Appellate Tribunal

ITAT:Halvens taxpayer's claim of capital loss, treats daughter as 'joint owner'

  • In Favour of Revenue
  • Citation Number : TS-625-ITAT-2020(PUN)
  • Tax Payer : Perviz Sarosh Batliwala
Income tax Appellate Tribunal

ITAT: Interest received on enhanced compensation against compulsory acquisition of land not taxable

  • In Favour of Assessee
  • Citation Number : TS-624-ITAT-2020(DEL)
  • Tax Payer : Ram Kishan