Direct tax Rulings

In Favour of Assessee
Citation Number : TS-1058-ITAT-2025(Mum)
Tax Payer : Late Mr. Shankerlal Doulatram Ramani (Through legal heir Mr. Rajesh Shankerlal Ramani)

Income tax Appellate Tribunal

ITAT: Affirms Sec. 270A penalty for non-disclosure of foreign exchange gains; Revised computation no shield

Aug 20, 2025

In Favour of Revenue
Citation Number : TS-1048-ITAT-2025(Mum)
Tax Payer : Creative Ashtech Power Projects Private Limited

Income tax Appellate Tribunal

ITAT: MLI provisions unenforceable sans separate notification; Relies on Nestle, highlights Revenue's contradicting stand

Aug 20, 2025

In Favour of Assessee
Citation Number : TS-1085-ITAT-2025(Mum)
Tax Payer : Sky High Appeal XLIII Leasing Company Limited

Income tax Appellate Tribunal

ITAT: Directs CIT(E) to grant registration u/s 12AB given assessee commenced activities, genuineness established

Aug 20, 2025

In Favour of Assessee
Citation Number : TS-1031-ITAT-2025(Bang)
Tax Payer : Marine Drishti and Coastal Foundation

High Court

HC: Order passed on original return ignoring validly filed revised return, vitiates assessment proceedings

Aug 20, 2025

In Favour of Assessee
Citation Number : TS-1084-HC-2025(TRI)
Tax Payer : Tripura State Electricity Corporation Limited

Income tax Appellate Tribunal

ITAT: Disallowance of payment to related parties u/s 40(A) sans proof of payment being excessive, unjustified

Aug 20, 2025

In Favour of Assessee
Citation Number : TS-1083-ITAT-2025(Mum)
Tax Payer : Precision Shapes

Income tax Appellate Tribunal

ITAT: Allows Sec. 80IB deduction in revised return; Denial of deduction claimed before assessment order untenable

Aug 20, 2025

In Favour of Assessee
Citation Number : TS-1082-ITAT-2025(Mum)
Tax Payer : Rashmi Infrastructure Developers Limited

Income tax Appellate Tribunal

ITAT: ITAT: Penny stock gain lacks "commercial credibility" & "human probability", cites transaction as sham for tax evasion

Aug 19, 2025

In Favour of Assessee
Citation Number : TS-1078-ITAT-2025(Ahd)
Tax Payer : Krutik Ashokkumar Parikh-HUF

Income tax Appellate Tribunal

ITAT: Clarifies terms “such matters” & “subject matters” u/s 263; Upholds revision as issue not in appeal or assessment

Aug 19, 2025

In Favour of Revenue
Citation Number : TS-1077-ITAT-2025(Kol)
Tax Payer : Shyam Metalics and Energy Ltd

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Rulings ( 13187 results )

ITAT: Deletes disallowance u/s 40A(3), as cash payment for business exigencies falls under exceptions in Rule 6DD

ITAT: Payments to non-resident foreign attorneys/law firms for ‘professional services’ not FTS u/s 9(1)(vii)

ITAT: Upholds TVS Charities' 80G application, rejects Revenue's 'mutuality' & funds utilisation argument

HC: Decides 'commencement of business' controversy, cites subsequent year findings to highlight ITAT's inconsistency

ITAT: TOLA provisions cannot rescue assessment orders barred by limitation, allows Assessee's appeal

HC: Slams Revenue for disregarding precedent, raps 'calculated' strategy to circumvent limitation

ITAT: Deletes unaccounted cash payment addition against 15% rebate on construction bills, sans cogent evidence

HC: Second proviso to Sec. 40(a)(ia) applies retrospectively, as beneficial & curative in nature; Deletes disallowance

ITAT: Deletes Sec. 37 disallowance, cites no incriminating material found in Sec. 153C assessment

ITAT: Sets aside Sec. 143(1)(a) disallowance on carry-forward LTC loss sans mandatory prior intimation

ITAT: Quashes revision disallowing CSR expenses u/s 80G given AO’s view based on legal precedents

ITAT: Deletes 3% net-profit addition post rejection of books u/s 145(3) basis assumptions sans material

ITAT: Affirms Sec. 270A penalty for non-disclosure of foreign exchange gains; Revised computation no shield

ITAT: MLI provisions unenforceable sans separate notification; Relies on Nestle, highlights Revenue's contradicting stand

ITAT: Directs CIT(E) to grant registration u/s 12AB given assessee commenced activities, genuineness established

HC: Order passed on original return ignoring validly filed revised return, vitiates assessment proceedings

ITAT: Disallowance of payment to related parties u/s 40(A) sans proof of payment being excessive, unjustified

ITAT: Allows Sec. 80IB deduction in revised return; Denial of deduction claimed before assessment order untenable

ITAT: ITAT: Penny stock gain lacks "commercial credibility" & "human probability", cites transaction as sham for tax evasion

ITAT: Clarifies terms “such matters” & “subject matters” u/s 263; Upholds revision as issue not in appeal or assessment