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Rulings ( 15491 results )

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Income tax Appellate Tribunal

ITAT:Upholds unexplained cash-credit addition u/s. 68; Mere balance confirmation doesn't prove transaction genuineness

  • In Favour of Revenue
  • Citation Number : TS-196-ITAT-2017(Ahd)
  • Tax Payer : Pavankumar M Sanghvi
Income tax Appellate Tribunal

ITAT:JDA results in land-transfer; Sec. 2(47)(v) doesn't contemplate 'exclusive' possession of developer

  • In Favour of Assessee
  • Citation Number : TS-195-ITAT-2017(CHNY)
  • Tax Payer : Shri Shafiq Mohammed Shah
High Court

HC: Denies interest-waiver u/s. 220(2); Rejects 'genuine hardship' plea of taxpayer belonging to 'profitable' MNC

  • In Favour of Revenue
  • Citation Number : TS-194-HC-2017(DEL)
  • Tax Payer : Pioneer Overseas Corporation USA
Income tax Appellate Tribunal

ITAT:Restricts assessee's Sec. 54 deduction claim, observes diversion of sale proceeds into business

  • In Favour of Assessee
  • Citation Number : TS-192-ITAT-2017(CHNY)
  • Tax Payer : R.Jayabharathi
High Court

HC:Sec.80HHD not analogous with Sec.80HHC, allows deduction without reducing ineligible hotel's losses

  • In Favour of Assessee
  • Citation Number : TS-191-HC-2017(MAD)
  • Tax Payer : Adyar Gate Hotel Ltd
Income tax Appellate Tribunal

ITAT:Training expense remitted to Chinese parent for payment to third party, not reimbursement

  • In Favour of Both, Partially
  • Citation Number : TS-190-ITAT-2017(Kol)
  • Tax Payer : Ershisanye Construction Group India Private Limited
Income tax Appellate Tribunal

ITAT:'Internal cost' of employing individual constitutes FTS, excludes deputation cost towards travel/insurance

  • In Favour of Assessee
  • Citation Number : TS-189-ITAT-2017(Mum)
  • Tax Payer : Gemological Institute International Inc
Income tax Appellate Tribunal

ITAT:Software developed from sub-contractor under taxpayer's direct supervision eligible for Sec 10A relief

  • In Favour of Assessee
  • Citation Number : TS-188-ITAT-2017(CHNY)
  • Tax Payer : Mahati Infotech Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Denies Sec 80-IB(10) deduction for allotting more than one unit to single buyer

  • In Favour of Assessee
  • Citation Number : TS-187-ITAT-2017(Bang)
  • Tax Payer : Shri Syed Aleemullah
Income tax Appellate Tribunal

ITAT:Profit sharing between Dr. Reddy's India and Switzerland, not a colourable device; Allows deduction

  • In Favour of Both, Partially
  • Citation Number : TS-186-ITAT-2017(HYD)
  • Tax Payer : Dr. Reddy’s Laboratories Limited
Income tax Appellate Tribunal

ITAT:Damages for breach of contractual obligations deductible despite quantification in subsequent FY

  • In Favour of Assessee
  • Citation Number : TS-185-ITAT-2017(Bang)
  • Tax Payer : Canara Housing Development Company
High Court

HC:Grants charity exemption to VHP despite belated audit report filing, distinguishes Congress ruling

  • In Favour of Assessee
  • Citation Number : TS-184-HC-2017(DEL)
  • Tax Payer : Vishwa Hindu Parishad
Supreme Court

SC:Distinguishes Chennai Properties; Sub-letting not principal business activity to constitute 'business income'

  • In Favour of Revenue
  • Citation Number : TS-183-SC-2017
  • Tax Payer : Raj Dadarkar & Associates
Income tax Appellate Tribunal

ITAT:Characterises land as non-agricultural, absent agricultural operations; Spontaneous vegetation, land location irrelevant

  • In Favour of Revenue
  • Citation Number : TS-182-ITAT-2017(CHNY)
  • Tax Payer : Shri Vijay Shah
Income tax Appellate Tribunal

ITAT: ITAT:Forfeited media rights advance not capital loss; Grants deduction to Zee Entertainment

  • In Favour of Assessee
  • Citation Number : TS-181-ITAT-2017(Mum)
  • Tax Payer : Zee Entertainment Enterprises Ltd.
High Court

HC:Rejects export commission re-characterization as royalty; Export agreement not tax-avoidance device

  • In Favour of Assessee
  • Citation Number : TS-180-HC-2017(DEL)
  • Tax Payer : Hero MotoCorp Limited
Income tax Appellate Tribunal

ITAT:Confirms penalty, depreciation claim 'false' absent use; Trial-run at supplier's place irrelevant

  • In Favour of Revenue
  • Citation Number : TS-179-ITAT-2017(CHNY)
  • Tax Payer : Sundaram Fasteners Ltd.
High Court

HC: Upholds ITAT; Reimbursement of seconded employees' salary to NR, not FTS

  • In Favour of Assessee
  • Citation Number : TS-178-HC-2017(BOM)
  • Tax Payer : Marks & Spencer Reliance India Pvt. Ltd.
High Court

HC:Loss on foreign cars sale deductible u/s 32(1)(iii) as business loss; Sec. 50 inapplicable

  • In Favour of Assessee
  • Citation Number : TS-177-HC-2017(MAD)
  • Tax Payer : K.D.Madan
Supreme Court

SC:15 Key Takeaways from SC ruling in Godrej Boyce on Sec. 14A disallowance

  • In Favour of Assessee
  • Citation Number : TS-176-SC-2017
  • Tax Payer : Godrej & Boyce Manufacturing Company Limited