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Rulings ( 15461 results )

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Income tax Appellate Tribunal

ITAT: Allows deduction for expenses for developer's newly 'set-up' business; Follows Delhi HC Dhoomketu Builders ruling

  • In Favour of Assessee
  • Citation Number : TS-477-ITAT-2020(Bang)
  • Tax Payer : Crown Home Engineers Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Reimbursement of sales promotion expenses to UAE-based agent, not FTS u/s.9(1)(vii)

  • In Favour of Assessee
  • Citation Number : TS-476-ITAT-2020(Mum)
  • Tax Payer : Gepach International
High Court

HC:Allows Sec. 54F benefit for investment in residential property, subsequent use for non-residential purpose- irrelevant

  • In Favour of Assessee
  • Citation Number : TS-475-HC-2020(MAD)
  • Tax Payer : Shri Ramesh Shroff
Income tax Appellate Tribunal

ITAT:Deletes penalty levy for non-filing of return considering assessee's medical condition

  • In Favour of Assessee
  • Citation Number : TS-474-ITAT-2020(PUN)
  • Tax Payer : Smt. Rupali Sanjay Bedmutha
Income tax Appellate Tribunal

ITAT:Investment in group concerns also requires 'monitoring'; Upholds Sec. 14A invocation on administrative expenses

  • In Favour of Both, Partially
  • Citation Number : TS-473-ITAT-2020(Mum)
  • Tax Payer : Future Retail Ltd
High Court

HC:Payment for NR's inspection & quality check services, not FTS

  • In Favour of Assessee
  • Citation Number : TS-472-HC-2020(KAR)
  • Tax Payer : JEANS KNIT PVT. LTD
Income tax Appellate Tribunal

ITAT:Reimbursement to NR promoters towards 'Development Costs' of Bangalore Airport, not FTS

  • In Favour of Assessee
  • Citation Number : TS-471-ITAT-2020(Bang)
  • Tax Payer : Bangalore International Airport Ltd
Income tax Appellate Tribunal

ITAT:Reckons period for penalty levy on belated TDS-return filing from 'delayed' TDS payment date

  • In Favour of Assessee
  • Citation Number : TS-470-ITAT-2020(Bang)
  • Tax Payer : IDEB Projects Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Assessee free to arrange business in beneficial manner; Accepts separate let-out of demised premises & infrastructure

  • In Favour of Assessee
  • Citation Number : TS-469-ITAT-2020(DEL)
  • Tax Payer : Chander Nagar Chemicals And Mineral Private Limited
Income tax Appellate Tribunal

ITAT: ITAT:Upholds Sec.40(a)(ia) disallowance for failure to deduct TDS on ad-hoc year-end provisions

  • In Favour of Revenue
  • Citation Number : TS-468-ITAT-2020(Mum)
  • Tax Payer : Tata Sky Limited
Income tax Appellate Tribunal

ITAT:Allows Vodafone's depreciation claim on 3G Spectrum fees pre-2017 insertion of specific Sec.35ABA

  • In Favour of Assessee
  • Citation Number : TS-467-ITAT-2020(Mum)
  • Tax Payer : Vodafone India Ltd
Income tax Appellate Tribunal

ITAT:Short payment of DDT, not DLF's income; Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-466-ITAT-2020(DEL)
  • Tax Payer : DLF Limited
Income tax Appellate Tribunal

ITAT:SC's validation of Vodafone India's shareholding structure renders Sec 68 addition on rights issue impermissible

  • In Favour of Assessee
  • Citation Number : TS-465-ITAT-2020(Mum)
  • Tax Payer : Vodafone India Limited
Supreme Court

SC:Calls for 'vibrant system of Advance Ruling' to reduce litigation, recommends changes to current system

  • In Favour of Assessee
  • Citation Number : TS-464-SC-2020
  • Tax Payer : National Co-Operative Development Corporation
Income tax Appellate Tribunal

ITAT: Applies 10% 'tolerance limit' u/s.50C while determining FMV for buyer u/s.56(2)(vii)(b)

  • In Favour of Assessee
  • Citation Number : TS-462-ITAT-2020(Bang)
  • Tax Payer : Sri Sandeep Patil
High Court

HC:Upholds Single Judge ruling setting aside ITSC's order as invalid in Hitachi Powers' case

  • In Favour of Assessee
  • Citation Number : TS-461-HC-2020(MAD)
  • Tax Payer : Hitachi Power Europe GmbH
High Court

HC:Upholds penalty u/s. 271(1)(c) for non-disclosure of capital gains rejecting assessee's reliance on CA's reporting

  • In Favour of Revenue
  • Citation Number : TS-460-HC-2020(MAD)
  • Tax Payer : Gangotri Textiles Ltd
Income tax Appellate Tribunal

ITAT:Securitisation Trust neither AOP nor irrevocable trust; Grants Sec. 61 benefit

  • In Favour of Assessee
  • Citation Number : TS-459-ITAT-2020(Mum)
  • Tax Payer : Scheme A1 of ARCIL CPS 002 XI Trust
High Court

HC: Rejects ITAT's 'slump-sale' taxation u/s. 50B for 'business transfer' under HC-approved Scheme

  • In Favour of Assessee
  • Citation Number : TS-458-HC-2020(MAD)
  • Tax Payer : Areva T & D India Ltd
Income tax Appellate Tribunal

ITAT:FMV-based valuation u/s. 50D relevant while construing 'sale-consideration' for land transferred under JDA

  • In Favour of Assessee
  • Citation Number : TS-457-ITAT-2020(Bang)
  • Tax Payer : Shri. Vivekanand Padegal