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Rulings ( 15461 results )

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Income tax Appellate Tribunal

ITAT: Allows assessee's adoption of land FMV while arriving at share valuation; Revenue misconstrued Sec. 56(2)(viib)

  • In Favour of Assessee
  • Citation Number : TS-533-ITAT-2020(JPR)
  • Tax Payer : Nabh Multitrade Pvt. Ltd
Supreme Court

SC:Dismisses assessee's SLP challenging HC-order upholding case transfer u/s.127

  • In Favour of Revenue
  • Citation Number : TS-532-SC-2020
  • Tax Payer : V.V. MINERALS
Income tax Appellate Tribunal

ITAT:No malice in tax deduction at lower rate on property purchase; Deletes penalty

  • In Favour of Assessee
  • Citation Number : TS-531-ITAT-2020(Ind)
  • Tax Payer : Shri Jitendra Sharma
Income tax Appellate Tribunal

ITAT:Deletes Rs.82Cr addition for BNP Paribas on reversal of provision for diminution in investment value

  • In Favour of Assessee
  • Citation Number : TS-530-ITAT-2020(Mum)
  • Tax Payer : BNP Paribas India Holding Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Nike India's distribution of sample promotes parent's brand; Upholds disallowance u/s. 37

  • In Favour of Revenue
  • Citation Number : TS-529-ITAT-2020(Bang)
  • Tax Payer : Nike India Private Limited
Income tax Appellate Tribunal

ITAT:Stamp- valuation in year of JDA execution relevant for LTCG computation on land-transfer

  • In Favour of Assessee
  • Citation Number : TS-528-ITAT-2020(Bang)
  • Tax Payer : Smt. Mamatha Mohan
Income tax Appellate Tribunal

ITAT:TDS u/s.195 inapplicable on reimbursement of demurrage charges paid to NR Co.

  • In Favour of Assessee
  • Citation Number : TS-527-ITAT-2020(Ahd)
  • Tax Payer : Gokul Refoils & Solvent Ltd
Income tax Appellate Tribunal

ITAT: Service charges retained by payment gateways, not commission u/s.194H; Deletes disallowance for TDS non-deduction

  • In Favour of Assessee
  • Citation Number : TS-526-ITAT-2020(HYD)
  • Tax Payer : Head Infotech India Pvt. Ltd
High Court

HC:Disallowance u/s.14A cannot exceed exempt income; Rejects revenue's hypothetical” future income plea

  • In Favour of Assessee
  • Citation Number : TS-525-HC-2020(MAD)
  • Tax Payer : Marg Limited
High Court

HC:Beneficial treaty rate preference u/s. 90 applies separately to each royalty agreement

  • In Favour of Assessee
  • Citation Number : TS-524-HC-2020(KAR)
  • Tax Payer : IBM World Trade Corporation
High Court

HC:Allows depreciation on 'revalued' intangibles to successor-company, rejects invocation of Sec.32(1) proviso

  • In Favour of Assessee
  • Citation Number : TS-523-HC-2020(KAR)
  • Tax Payer : Padmini Products (P) Ltd
Income tax Appellate Tribunal

ITAT: Beneficial DTAA rate on dividends prevails over DDT rate; Allows additional ground

  • In Favour of Assessee
  • Citation Number : TS-522-ITAT-2020(DEL)
  • Tax Payer : Giesecke & Devrient [India] Pvt Ltd
Income tax Appellate Tribunal

ITAT:Long- standing 'advance' on pending land-stock transfer, not 'virtual' forfeiture; Rejects taxability u/s. 56(2)(ix)

  • In Favour of Assessee
  • Citation Number : TS-521-ITAT-2020(Bang)
  • Tax Payer : Shri Ravi Shankar Shetty
High Court

HC:Sec. 50C amendment allowing preference to stamp-duty valuation on 'date of agreement to sell', retrospective

  • In Favour of Assessee
  • Citation Number : TS-520-HC-2020(MAD)
  • Tax Payer : Shri Vummudi Amarendran
Income tax Appellate Tribunal

ITAT: Acer India not 'assessee-in-default' for TDS non-deduction on software purchase; HC's Samsung ruling inapplicable retrospectively

  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2020(Bang)
  • Tax Payer : Acer India Private Ltd
Income tax Appellate Tribunal

ITAT:Quashes audit objection based reassessment sans fresh fact post original proceedings; Distinguishes SC's PVS Beedis ruling

  • In Favour of Assessee
  • Citation Number : TS-518-ITAT-2020(CTK)
  • Tax Payer : Indian Metals & Ferro Alloys Ltd
Income tax Appellate Tribunal

ITAT: Singaporean Co.'s income from bandwidth services, not taxable as royalty

  • In Favour of Assessee
  • Citation Number : TS-517-ITAT-2020(DEL)
  • Tax Payer : Telstra Singapore Pte.Ltd
Income tax Appellate Tribunal

ITAT:Share allotment triggers taxability u/s. 56(2)(viib); Application money received prior to enactment, irrelevant

  • In Favour of Both, Partially
  • Citation Number : TS-516-ITAT-2020(Bang)
  • Tax Payer : Taaq Music Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Confirms Sec.68 addition on assessee's unsubstantiated 'agricultural income'

  • In Favour of Revenue
  • Citation Number : TS-515-ITAT-2020(Kol)
  • Tax Payer : Rajnarayan Prasad Singh
Income tax Appellate Tribunal

ITAT:Expenditure incurred to acquire membership of stock exchange, a CAPEX eligible for depreciation

  • In Favour of Revenue
  • Citation Number : TS-514-ITAT-2020(Bang)
  • Tax Payer : BGSE Financials Ltd