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Rulings ( 15461 results )

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High Court

HC: Rejects Revenue's MA on 'Doctrine of Law of the Case'; Dismisses Appeal for Low Tax Effect

  • In Favour of Assessee
  • Citation Number : TS-548-HC-2020(BOM)
  • Tax Payer : V. M. Salgaonkar Brothers Private Limited
Income tax Appellate Tribunal

ITAT:Upholds revision u/s. 263 for on-money payment probe, though not falling under 'limited scrutiny' ambit

  • In Favour of Revenue
  • Citation Number : TS-846-ITAT-2019(CHNY)
  • Tax Payer : Sahayamatha Salterns Pvt. Ltd
High Court

HC: ITAT 'abruptly' concluded on Sec. 68 requirements ignoring 'surrounding circumstances'; Restores addition

  • In Favour of Assessee
  • Citation Number : TS-547-HC-2020(BOM)
  • Tax Payer : Sadiq Sheikh
Foreign Court

FC: Australian Federal Court: Backpacker's tax 'non-discriminatory' for 'resident foreigners' in Australia with Working Holiday Visa

  • In Favour of Revenue
  • Citation Number : TS-734-FC-2020(AUS)
  • Tax Payer : Addy
District Court

DC: Rejects creditor's 'unproven' defence for TDS deposit delay due to Kingfisher's payment default; Upholds prosecution

  • In Favour of Revenue
  • Citation Number : TS-733-DC-2020(DEL)
  • Tax Payer : Summit Aviation Pvt. Ltd. & Anr.
Income tax Appellate Tribunal

ITAT:Allows Rs. 117 cr. depreciation on goodwill arising on amalgamation while holding assessment a nullity

  • In Favour of Assessee
  • Citation Number : TS-546-ITAT-2020(Ahd)
  • Tax Payer : Urmin Marketing P.Ltd. Now known as Unicorn Packaging LLP
Income tax Appellate Tribunal

ITAT: Mitsui's Indian Subsidiary does not constitute DAPE in India, deletes consequent addition

  • In Favour of Assessee
  • Citation Number : TS-545-ITAT-2020(DEL)
  • Tax Payer : Mitsui & Co. Ltd
Income tax Appellate Tribunal

ITAT: Investment in 'under-construction' property qualifies for Sec. 54F benefit, despite construction non-completion within 3 years

  • In Favour of Assessee
  • Citation Number : TS-544-ITAT-2020(Bang)
  • Tax Payer : Padma Rajagopalan
Income tax Appellate Tribunal

ITAT:Allows depreciation on goodwill, customer contracts acquired from KPIT-Cummins; Follows Smif Securities

  • In Favour of Assessee
  • Citation Number : TS-543-ITAT-2020(DEL)
  • Tax Payer : Infrasoft Technologies Ltd.
Income tax Appellate Tribunal

ITAT:Penalty notice issued sans specific charge, 'non-curable' u/s.292B

  • In Favour of Assessee
  • Citation Number : TS-542-ITAT-2020(Bang)
  • Tax Payer : Shri Mahendra B. Chowhan
Foreign Court

FC: Danish Tax Council: Data Centre located in Denmark, serving foreign group co., doesn't constitute PE

  • In Favour of Assessee
  • Citation Number : TS-732-FC-2020(DEN)
  • Tax Payer : Assessee
Income tax Appellate Tribunal

ITAT:No adjustment in book-profits u/s. 115JB for accumulated losses write-off against securities premium

  • In Favour of Assessee
  • Citation Number : TS-541-ITAT-2020(DEL)
  • Tax Payer : Hindustan Coca Cola Beverages Private Limited
Income tax Appellate Tribunal

ITAT:AO's 'tax evasion' finding - a prerequisite for disallowing bonus payments to director-shareholders u/s 36(1)(ii)

  • In Favour of Assessee
  • Citation Number : TS-540-ITAT-2020(Mum)
  • Tax Payer : Mehta Equities Ltd
Income tax Appellate Tribunal

ITAT: No TDS default disallowance u/s. 40(a)(ia) for assessee opting presumptive basis taxation u/s. 44AD

  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2020(SUR)
  • Tax Payer : Shri Bipinchandra Hiralal Thakkar
Income tax Appellate Tribunal

ITAT:Interest on borrowed funds advanced to related concern, deductible u/s.57(iii); Cites nexus between income & expense

  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2020(Mum)
  • Tax Payer : Shri Vinay Ramakant Sapte
High Court

HC:Factual perversity in ITAT's order appealable u/s 260A; Allows Revenue's appeals

  • In Favour of Revenue
  • Citation Number : TS-537-HC-2020(MAD)
  • Tax Payer : Shri. Rakesh Sarin
Income tax Appellate Tribunal

ITAT:AO's satisfaction unwarranted for penalty u/s. 271E against cash repayments; Distinguishes SC ruling

  • In Favour of Assessee
  • Citation Number : TS-536-ITAT-2020(Ahd)
  • Tax Payer : B. P. Patel and Co
Income tax Appellate Tribunal

ITAT:Singaporean 'start-up' investment off-load to Snapdeal, non-taxable; Carve-outs to 'indirect transfer' provision, retrospective

  • In Favour of Assessee
  • Citation Number : TS-535-ITAT-2020(DEL)
  • Tax Payer : Augustus Capital PTE Ltd
Foreign Court

FC: Australian Tribunal: Upholds citizen's tax residency in Australia despite a 7-month long employment in Kuwait

  • In Favour of Assessee
  • Citation Number : TS-731-FC-2020(AUS)
  • Tax Payer : Kannapiran Arjunan
Income tax Appellate Tribunal

ITAT:Denies HO expense u/s.44C against interest income taxed on gross basis under India-Japan DTAA

  • In Favour of Both, Partially
  • Citation Number : TS-534-ITAT-2020(DEL)
  • Tax Payer : MUFG Bank Ltd