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Rulings ( 12519 results )

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Income tax Appellate Tribunal

ITAT: Deletes penny stock capital gain addition made solely on BSE's 133(6) response sans supporting evidence

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-378-ITAT-2025(Mum)
  • Tax Payer : Rajesh Dineshchandra Sanghvi
Income tax Appellate Tribunal

ITAT: Quashes revisionary order u/s 263 citing non-fullfilment of twin conditions

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-377-ITAT-2025(Mum)
  • Tax Payer : Abhyudaya Coop Bank Ltd
Income tax Appellate Tribunal

ITAT: Sec. 69A not applicable given impugned transactions explained and confirmed by involved parties

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-376-ITAT-2025(Mum)
  • Tax Payer : Arun Ashar
Income tax Appellate Tribunal

ITAT: Confirms Sec. 68, 69 additions absent proof of creditworthiness & genuineness of transactions

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-372-ITAT-2025(Mum)
  • Tax Payer : Blue Moon Housing & Development Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 69D disallowance, cites documents cannot be treated as Hundi

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-371-ITAT-2025(Mum)
  • Tax Payer : Kemox Corporation
Income tax Appellate Tribunal

ITAT: Allows 80IA deduction as windmill undertaking acquired under slump sale on going concern basis

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-381-ITAT-2025(Mum)
  • Tax Payer : Warmth Windpower LLP
Income tax Appellate Tribunal

ITAT: CBDT’s withdrawal of Industrial Park approval unsustainable, power of approval/withdrawl with Central Government

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-383-ITAT-2025(Mum)
  • Tax Payer : Pantheon Infrastructure Pvt. Ltd
Income tax Appellate Tribunal

ITAT: LTCG grandfathered as per Art. 13(4) of India-Mauritius DTAA not adjustable against STCL or LTCL

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-382-ITAT-2025(Mum)
  • Tax Payer : Bay Capital India Fund Limited
Supreme Court

SC: Restores ITAT’s remand order for determining if duty drawback was accepted in relevant AY

Apr 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-375-SC-2025
  • Tax Payer : Maruti Suzuki India Limited
Supreme Court

SC: Dismisses Assessee’s SLP on issue of submission of all material forming basis for Revenue’s opinion for initiating reassessment

Apr 11, 2025
  • In Favour of Revenue
  • Citation Number : TS-373-SC-2025
  • Tax Payer : Chaturbhuj Gattani
Supreme Court

SC: Dismisses Assessee’s SLP on disallowance of cash transaction u/s 40A(3)

Apr 11, 2025
  • In Favour of Revenue
  • Citation Number : TS-374-SC-2025
  • Tax Payer : Natesan Krishnamurthy
High Court

HC: Rejects Sec. 72A application against correct WDV adjustment, sans carry forward of unabsorbed depreciation

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-370-HC-2025(BOM)
  • Tax Payer : Technova Imaging Systems Limited
Income tax Appellate Tribunal

ITAT: Allows assessee's appeal citing benefit of indexation available from date of allotment of property

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2025(Mum)
  • Tax Payer : Lakshminarayan Realfinvest Limited
Income tax Appellate Tribunal

ITAT: AO’s view of allowing contribution to Core SGF as per SEBI-Circular, plausible; Quashes revision

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-354-ITAT-2025(Mum)
  • Tax Payer : National Stock Exchange of India Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 272A(1)(d) given Assessee complied with subsequent Sec. 142(1) notices

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-358-ITAT-2025(Mum)
  • Tax Payer : Shilpa Shetty Kundra
Income tax Appellate Tribunal

ITAT: Quashes revision, share premium taxability u/s 56(2)(viib) beyond limited scope of scrutiny

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-359-ITAT-2025(Mum)
  • Tax Payer : Acron Hospitality Private Limited
Income tax Appellate Tribunal

ITAT: Allows foreign-co.’s additional legal claim for 20% tax u/s 115A; Relies on NTPC judgment

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2025(Mum)
  • Tax Payer : Mahindra Overseas Investment Company (Mauritius) Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271(1)(c) given Assessee duly proved there’s no income concealment

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-357-ITAT-2025(Mum)
  • Tax Payer : Brindaban III Co-operative Housing Society Ltd
Income tax Appellate Tribunal

ITAT: Nuisance maker, occupying land illegally, not taxable for settlement deal receipts

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-367-ITAT-2025(Mum)
  • Tax Payer : Mohammed Fakhre Alam Shaikh
Income tax Appellate Tribunal

ITAT: Hands Private Discretionary trusts a big win on surcharge issue; Rejects Revenue's case

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-366-ITAT-2025
  • Tax Payer : Araadhya Jain Trust