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Rulings ( 15467 results )

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Income tax Appellate Tribunal

ITAT:Agricultural land, not a 'capital asset'; Can't invoke Sec.56(2)(vii)(b) taxability

  • In Favour of Assessee
  • Citation Number : TS-269-ITAT-2020(JPR)
  • Tax Payer : Sh. Prem Chand Jain
Income tax Appellate Tribunal

ITAT: ITAT: Holds assessment on non-existent entity post amalgamation unsustainable, non-curable u/s. 292B

  • In Favour of Assessee
  • Citation Number : TS-268-ITAT-2020(Ahd)
  • Tax Payer : Intas Lifesciences Erstwhile known as Intas Pharmaceuticals Since merged with Intas Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT:Investment co-'s business 'commences' upon its first investment, incorporation date irrelevant for deduction u/s.35D

  • In Favour of Assessee
  • Citation Number : TS-267-ITAT-2020(Ahd)
  • Tax Payer : Addlife Investments Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Genuineness of donation irrelevant for determination of 'anonymous' donations

  • In Favour of Assessee
  • Citation Number : TS-266-ITAT-2020(DDN)
  • Tax Payer : Bhartiya Kissan Charitable Club Trust
Income tax Appellate Tribunal

ITAT:Disallows interest on borrowings further advanced to sister-concerns for 'equity infusion' in group cos.

  • In Favour of Assessee
  • Citation Number : TS-265-ITAT-2020(DEL)
  • Tax Payer : Abhinav International Pvt. Ltd
Supreme Court

SC:Denies deduction u/s. 80-O on service charges from foreign buyers; Assessee, merely a procuring agent”

  • In Favour of Revenue
  • Citation Number : TS-264-SC-2020
  • Tax Payer : RAMNATH & CO
Income tax Appellate Tribunal

ITAT:Upholds interest levy on TCS-default though taxes paid by buyers; Cites specific levy u/s. 206C(7)

  • In Favour of Both, Partially
  • Citation Number : TS-263-ITAT-2020(JPR)
  • Tax Payer : Eid Mohammad Nizamuddin
Income tax Appellate Tribunal

ITAT:'Actual sale-consideration', not stamp-value to be reduced from 'block' for depreciation computation

  • In Favour of Both, Partially
  • Citation Number : TS-262-ITAT-2020(DEL)
  • Tax Payer : Futurz Next Services (Private) Limited
Income tax Appellate Tribunal

ITAT:Cyprus entity's sale of shares of Indian co. holding 'Technopark', non-taxable under un-amended DTAA

  • In Favour of Assessee
  • Citation Number : TS-261-ITAT-2020(DEL)
  • Tax Payer : Narmil Infosolutions Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Sec. 195 TDS applicable on spare parts purchase from Swiss co. through Indian subsidiary

  • In Favour of Revenue
  • Citation Number : TS-260-ITAT-2020(Ind)
  • Tax Payer : Sanghvi Foods Private Limited
Income tax Appellate Tribunal

ITAT:Grants exemption u/s. 10(34) on dividend income from strategic investments held in Trust, rejects 'tax-evasion' plea

  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2020(DEL)
  • Tax Payer : Escorts Benefit & Welfare Trust
Income tax Appellate Tribunal

ITAT:Notice issuance u/s. 143(2) on same day of return filing u/s.148 - mechanical, absent 'original' return filed

  • In Favour of Assessee
  • Citation Number : TS-258-ITAT-2020(DEL)
  • Tax Payer : Shri Hemant Mittal
Income tax Appellate Tribunal

ITAT:Upholds Sec.14A disallowance on strategic investment made in Dabur; Cites SC Maxopp ruling

  • In Favour of Revenue
  • Citation Number : TS-257-ITAT-2020(DEL)
  • Tax Payer : Puran Associates Pvt. Ltd
Foreign Court

FC: Supreme Court of UK - Deeming fiction under domestic law cannot rescue South-African diver from taxation in UK

  • In Favour of Revenue
  • Citation Number : TS-718-FC-2020(UK)
  • Tax Payer : Fowler
Income tax Appellate Tribunal

ITAT:NIIT's virtual trainings qualify as 'educational activities' eligible for charity exemption u/s. 11

  • In Favour of Assessee
  • Citation Number : TS-256-ITAT-2020(DEL)
  • Tax Payer : NIIT Foundation
Income tax Appellate Tribunal

ITAT:Rejects taxation of 'development rights' under JDA for developer sans fulfilment of future obligations

  • In Favour of Assessee
  • Citation Number : TS-255-ITAT-2020(Mum)
  • Tax Payer : Newtech (India) Developers
Income tax Appellate Tribunal

ITAT:Issuance of notice u/s.143(2) on same day as return filing u/s.148, not AO's non-application of mind

  • In Favour of Both, Partially
  • Citation Number : TS-253-ITAT-2020(DEL)
  • Tax Payer : Surana Enterprises
Income tax Appellate Tribunal

ITAT:NR's explanation on 'Arbitration Award' non-taxability under India-Netherlands DTAA, bonafide; Deletes penalty u/s.271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-252-ITAT-2020(Mum)
  • Tax Payer : Van Oord Dredging and Marine Contractors BV
Income tax Appellate Tribunal

ITAT:Deletes addition u/s. 68 to extent of gross receipts from medical practice citing double addition

  • In Favour of Both, Partially
  • Citation Number : TS-251-ITAT-2020(DEL)
  • Tax Payer : Sarita Tyagi
Income tax Appellate Tribunal

ITAT:Movie distributor's 'minimum guarantee royalty' payment not Royalty u/s. 9(1)(vi); No TDS liability thereon

  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2020(DEL)
  • Tax Payer : Sh. Yashovardhan Tyagi