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Rulings ( 15488 results )

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Income tax Appellate Tribunal

ITAT:Receipt from relative of deceased exempt u/s 56(2)(v)(d) once conditions of Indian Succession Act satisfied

  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2018(PUN)
  • Tax Payer : Vijayraj Uttamchand Mundada
Income tax Appellate Tribunal

ITAT:'Substantial expansion' in hotel building constitutes investment in 'plant/machinery' for Sec. 80IC benefit

  • In Favour of Assessee
  • Citation Number : TS-145-ITAT-2018(CHANDI)
  • Tax Payer : Sirmour Hotels Pvt Ltd.
Supreme Court

SC:Dismisses SLP; AO cannot 're-assess' claim pending before appellate forum

  • In Favour of Assessee
  • Citation Number : TS-144-SC-2018
  • Tax Payer : Radhaswami Salt Works
Income tax Appellate Tribunal

ITAT:Payment to ward off competition for short 5 years period, a revenue expense

  • In Favour of Assessee
  • Citation Number : TS-143-ITAT-2018(Mum)
  • Tax Payer : SOTC Travel Services Pvt. Ltd.
Income tax Appellate Tribunal

ITAT:No PE for Samsung Electronics owing to employees secondment to Indian subsidiary

  • In Favour of Assessee
  • Citation Number : TS-142--2018(DEL)
  • Tax Payer : Samsung Electronics Co Ltd
Income tax Appellate Tribunal

ITAT:Upholds assessee's 'business income' plea on 'one-off' penny-stock sale, rejects STCG taxation

  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2018(DEL)
  • Tax Payer : Smt. Prem Jain
High Court

HC:Indian Oil Corporation's carrier payment not 'truck hiring'; Sec. 194C applicable, not Sec 194I

  • In Favour of Assessee
  • Citation Number : TS-140-HC-2018(UTT)
  • Tax Payer : Indian Oil Corporation Ltd
Income tax Appellate Tribunal

ITAT:Amended Sec. 140A(3) doesn't envisage levy of penalty u/s 221 for self-assessment tax default

  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2018(Mum)
  • Tax Payer : Heddle Knowledge Private Limited (formerly Ackruti City Knowledge Pvt. Ltd.)
High Court

HC:Upholds reassessment; Mere P&L Account disclosure cannot absolve assessee's 'full disclosure' obligation u/s. 147

  • In Favour of Revenue
  • Citation Number : TS-138-HC-2018(KER)
  • Tax Payer : Tata Ceramics Ltd
Income tax Appellate Tribunal

ITAT:Entertains fresh Sec. 80-IB(10) claim in returns u/s Sec 153A for years where assessment stands abated

  • In Favour of Both, Partially
  • Citation Number : TS-137-ITAT-2018(Mum)
  • Tax Payer : Akshar Developers
High Court

HC:Denies exemption u/s 11 absent separate books of accounts for incidental business

  • In Favour of Revenue
  • Citation Number : TS-136-HC-2018(BOM)
  • Tax Payer : Indian Machine Tools & Manufacturers' Association
Income tax Appellate Tribunal

ITAT:Confirms Sec. 69 addition, credit-worthiness of parties not proved; Cites information from US Authorities

  • In Favour of Assessee
  • Citation Number : TS-135-ITAT-2018(Mum)
  • Tax Payer : Syed Serwat Sevy Ali
Income tax Appellate Tribunal

ITAT:Non-filing of AOP's PAN /I-T return not basis for assessing income in member's hands

  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2018(Bang)
  • Tax Payer : B.V. Ashok Kumar
Income tax Appellate Tribunal

ITAT:Payment for acquiring management rights of drillship, a capital expenditure eligible for depreciation

  • In Favour of Assessee
  • Citation Number : TS-132-ITAT-2018(DEL)
  • Tax Payer : Dolphin Drilling Ltd
High Court

HC:Rules on unabsorbed depreciation set-off against other income post 1996 amendment

  • In Favour of Both, Partially
  • Citation Number : TS-131-HC-2018(KER)
  • Tax Payer : Cochin Shipyard Ltd
Income tax Appellate Tribunal

ITAT:Relies McKinsey's earlier years' MAP settlement to determine taxability in subsequent year

  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2018(Mum)
  • Tax Payer : McKinsey & Company
High Court

HC:Absent tax payment by payee reporting loss, deductor not absolved from Sec. 40(a)(ia) disallowance

  • In Favour of Revenue
  • Citation Number : TS-128-HC-2018(KER)
  • Tax Payer : The Academy of Medical Sciences
Supreme Court

SC:Dismisses Revenue's SLP; Allows Sec. 244A interest on TDS refund to deductee

  • In Favour of Assessee
  • Citation Number : TS-127-SC-2018
  • Tax Payer : Meghalaya Co-operative Bank Ltd
Supreme Court

SC: Re-assessment initiation based on PE allegation not sustainable once arm's-length threshold met

  • In Favour of Assessee
  • Citation Number : TS-126-SC-2018
  • Tax Payer : Honda Motor Co Ltd
Income tax Appellate Tribunal

ITAT:Upholds disallowance u/s Sec. 40(a)(ia) on pre-paid SIM card discount, keeps Rajasthan HC's relief intact

  • In Favour of Both, Partially
  • Citation Number : TS-125-ITAT-2018(DEL)
  • Tax Payer : Vodafone Essar Digilink Ltd