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Rulings ( 15488 results )

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Income tax Appellate Tribunal

ITAT:Deletes concealment penalty on SRK, Dubai villa income taxability not free from doubts

  • In Favour of Assessee
  • Citation Number : TS-268-ITAT-2018(Mum)
  • Tax Payer : Shah Rukh khan
Income tax Appellate Tribunal

ITAT: Deletes Sec. 271(1)(c) penalty, assessee under 'bonafide' belief for not returning capital gains

  • In Favour of Assessee
  • Citation Number : TS-267-ITAT-2018(Ahd)
  • Tax Payer : Shri Nitinkumar Desai
Income tax Appellate Tribunal

ITAT: No denial of exemption u/s. 11 for Trust advancing loan in violation of sec.13(1)(d)

  • In Favour of Assessee
  • Citation Number : TS-266-ITAT-2018(DEL)
  • Tax Payer : Puran Chand Dharmarth Trust
Income tax Appellate Tribunal

ITAT:Marketing fees paid to US subsidiary for soliciting business not liable to Sec 195 TDS

  • In Favour of Assessee
  • Citation Number : TS-265-ITAT-2018(Kol)
  • Tax Payer : Onprocess Technology India Pvt Ltd
High Court

HC:Holds Revenue's appeal 'in-time', accepts Tribunal order 'non-receipt' plea; Explains ITAT's duty

  • In Favour of Revenue
  • Citation Number : TS-264-HC-2018(UTT)
  • Tax Payer : Hyundai Heavy Industries Co Ltd
Income tax Appellate Tribunal

ITAT:No TDS on share-broker's borrowing fee payment absent ultimate income recipients' identity

  • In Favour of Assessee
  • Citation Number : TS-262-ITAT-2018(Mum)
  • Tax Payer : JM Financial Services Ltd
High Court

HC: Upholds Sec 36(1)(viia) bad debts provision deduction based on 'cumulative' outstanding rural advances

  • In Favour of Assessee
  • Citation Number : TS-261-HC-2018(CAL)
  • Tax Payer : Uttarbanga Kshetriya Gramin Bank
Income tax Appellate Tribunal

ITAT:Franchises agreement doesn't create Indian PE for Dominos ; Distinguishes Formula One ruling

  • In Favour of Assessee
  • Citation Number : TS-260-ITAT-2018(Mum)
  • Tax Payer : Dominos Pizza International Franchising Inc
Income tax Appellate Tribunal

ITAT:Upholds validity of Sec. 263 revision and underlying re-assessment; Assessment records outweigh CIT's observations

  • In Favour of Revenue
  • Citation Number : TS-259-ITAT-2018(Kol)
  • Tax Payer : D.D. Deposits & Advances Pvt Ltd
High Court

HC:Denies capital gains exemption benefit u/s. 54F as flat construction preceded land-transfer

  • In Favour of Both, Partially
  • Citation Number : TS-258-HC-2018(GUJ)
  • Tax Payer : Ushaben Jayantilal Sodhan
Supreme Court

SC:Dismisses SLP; No Sec. 194C TDS by Transporter on third-party payments to truck-owners

  • In Favour of Assessee
  • Citation Number : TS-257-SC-2018
  • Tax Payer : Daulat Enterprises
Supreme Court

SC:Allows Sec 80-IC tax holiday w.r.t. substantial expansion year; Ignores earlier deductions u/s 80-IA & 80-IB

  • In Favour of Assessee
  • Citation Number : TS-256-SC-2018
  • Tax Payer : Mahabir Industries
Income tax Appellate Tribunal

ITAT:Deletes concealment penalty despite assessee's stand in reassessment contradictory to SC ruling

  • In Favour of Assessee
  • Citation Number : TS-255-ITAT-2018(DEL)
  • Tax Payer : Dehradun Club Limited
Income tax Appellate Tribunal

ITAT:AO can assess income lower than returned income despite resulting in refund

  • In Favour of Assessee
  • Citation Number : TS-254-ITAT-2018(Kol)
  • Tax Payer : Smt. Sharmila Kumar
Income tax Appellate Tribunal

ITAT:Restricts disallowance u/s 14A to quantum of exempt income; Cites Article 265 of Constitution

  • In Favour of Both, Partially
  • Citation Number : TS-253-ITAT-2018(Mum)
  • Tax Payer : Gold Seal Engineering Products P Ltd
High Court

HC:Allows exemption u/s 10(10C) for VRS payment despite scheme not as per Rule 2BA

  • In Favour of Assessee
  • Citation Number : TS-252-HC-2018(MAD)
  • Tax Payer : A.Thenappan
Income tax Appellate Tribunal

ITAT: Pre-2016, AO can't curtail R&D unit's weighted deduction u/s 35(2AB) citing DSIR-approved expenditure

  • In Favour of Assessee
  • Citation Number : TS-251-ITAT-2018(PUN)
  • Tax Payer : Cummins India Limited
Supreme Court

SC:Dismisses assessee's SLP ; FD-interest assessable as business income ineligible for Sec 80IC deduction

  • In Favour of Revenue
  • Citation Number : TS-250-SC-2018
  • Tax Payer : Conventional Fastners
Income tax Appellate Tribunal

ITAT:Assessee can raise 'slump sale v exchange' issue in appeal; Estoppel principle inapplicable

  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2018(Mum)
  • Tax Payer : Oricon Enterprises Limited
High Court

HC: Adopts different approach, treats TDS default order u/s 201 as 'show-cause' notice to assessee

  • In Favour of Assessee
  • Citation Number : TS-248-HC-2018(MAD)
  • Tax Payer : International Seaport Dredging Private Limited