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Rulings ( 12938 results )

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Income tax Appellate Tribunal

ITAT: Disallowance of set-off of STCL against LTCG unwarranteed, transaction not colourable device

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-906-ITAT-2024(Mum)
  • Tax Payer : Ranu Vohra
Income tax Appellate Tribunal

ITAT: Compensation received is capital receipt not taxable u/s 28(ii)(b), taxpayer not a managing agency

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-909-ITAT-2024(DEL)
  • Tax Payer : Modi Entertainment Ltd
Income tax Appellate Tribunal

ITAT: Assessee not required to prove source of the source to be exonerated from Sec.68 liability

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-908-ITAT-2024(Mum)
  • Tax Payer : Gauranga Papers LLP
Income tax Appellate Tribunal

ITAT: Remits matter, AO to consider taxpayer’s plea on taxes paid by VCF & exclusion of income u/s 115U

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-907-ITAT-2024(CHNY)
  • Tax Payer : IDFC Limited
Income tax Appellate Tribunal

ITAT: Gains from crypto sale prior to April 1, 2022 taxable as capital-gains, eligible for exemption u/s 54F

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-902-ITAT-2024(JODH)
  • Tax Payer : Raunaq Prakash Jain
Income tax Appellate Tribunal

ITAT: Reassessment proceedings against ‘non-existent entity’, void ab initio; Quashes notice

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-903-ITAT-2024(Mum)
  • Tax Payer : Carron Investment Private Limited
Income tax Appellate Tribunal

ITAT: Receipts from offshore hire charges not taxable u/s 44BB absent Indian PE

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-900-ITAT-2024(DEL)
  • Tax Payer : Kreuz Challenger Pte Ltd
Income tax Appellate Tribunal

ITAT: Denying FTC for belated filing of requisite Form-67 ‘not justified’; Allows Assessee’s claim

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-901-ITAT-2024(Kol)
  • Tax Payer : Rahul Anand
Income tax Appellate Tribunal

ITAT: Penalty u/s 271AAB leviable on existence of ‘undisclosed income’; Quashes CIT(A)’ penalty reduction

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-898-ITAT-2024(DEL)
  • Tax Payer : Subhash Tyagi
Income tax Appellate Tribunal

ITAT: Interest on enhanced compensation from compulsory land-acquisition taxable as ‘income from other sources’ u/s 56(2)(viii)

Dec 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-899-ITAT-2024(DEL)
  • Tax Payer : Jagjit Singh Kataria
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Upholds attachment of seized demonetized-cash holding it to be ‘property’ with its FMV

Dec 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-896-PBPTAT-2024(DEL)
  • Tax Payer : Nitin Gupta
Income tax Appellate Tribunal

ITAT: Indexation benefit u/s 48 to be granted for sale of shares of foreign company

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-897-ITAT-2024(Mum)
  • Tax Payer : Aarav Fragrances and Flavors Private Limited
Income tax Appellate Tribunal

ITAT: Bad debts written-off as ‘irrecoverable’ allowable for deduction u/s 36(1)(vii) r.w.s. 36(2)

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-894-ITAT-2024(HYD)
  • Tax Payer : Nuevosol Energy Private Limited
Income tax Appellate Tribunal

ITAT: Proceeds from sale of land/flats consequent to dissolution of partnership-firm taxable as ‘capital gains’

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-889-ITAT-2024(NAG)
  • Tax Payer : Deepak Gadge
Income tax Appellate Tribunal

ITAT: Deletes levy of interest u/s 234C given taxpayer discharged its advance tax liability

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-895-ITAT-2024(CHNY)
  • Tax Payer : IDFC Financial Holdings - Co. Ltd
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Refuses attachment under Benami Act absent cogent evidence proving beneficial ownership of Ajit Pawar, others

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-890-PBPTAT-2024(DEL)
  • Tax Payer : Nibhodh Trading Pvt. Ltd. &Ors
Income tax Appellate Tribunal

ITAT: Imposes cost on Revenue for ‘casual attitude’ in dismissing Assessee’s appeal twice at CIT(A) stage

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-888-ITAT-2024(Ahd)
  • Tax Payer : Seema Ajay Ranka
Income tax Appellate Tribunal

ITAT: Raps AO for failing to consider disputed documents' contents for establishing ‘incriminating material’

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-880-ITAT-2024(DEL)
  • Tax Payer : DMG Finance Investment Private Limited
Income tax Appellate Tribunal

ITAT: Mandatory provision for passing draft-order applies to non-resident “eligible assessee” u/s 144C(15)

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-887-ITAT-2024(Mum)
  • Tax Payer : Hasmukh Dipchand Gardi
Income tax Appellate Tribunal

ITAT: Upholds penalty u/s 271(1)(c), 271AAB for failure to establish ‘genuineness’ of expenditure

Dec 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-883-ITAT-2024(PUN)
  • Tax Payer : Shreehari Associates Pvt Ltd