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Rulings ( 12943 results )

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Income tax Appellate Tribunal

ITAT: Receipts earned from incidental activity not business income, entitled Sec. 11 exemption

Nov 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-846-ITAT-2024(Mum)
  • Tax Payer : St. Joseph’s Education and Medical Relief Society
Supreme Court

SC: Quashes reassessment proceedings stemming from sale-cum-gift between mother & son; Sec. 50C inapplicable

Nov 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-845-SC-2024
  • Tax Payer : MAHENDRA GALA
Income tax Appellate Tribunal

ITAT: Reassessment u/s 148 sans proper reasons, invalid; Independent investigation of unsecured loans by AO mandatory.

Nov 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-844-ITAT-2024(DEL)
  • Tax Payer : R.N. Khemka Enterprises Private Ltd.
Income tax Appellate Tribunal

ITAT: Allows Sec.80P deduction on interest income of cooperative society; Follows Mavilayi Service Co-op Bank ruling

Nov 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-843-ITAT-2024(PAN)
  • Tax Payer : Shri Arihant Credit Souhard Sahakari Ltd.
Income tax Appellate Tribunal

ITAT: Stamp duty value on sale agreement date relevant, agreement & registration date differs; Deletes Sec.43CA addition

Nov 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-841-ITAT-2024(Mum)
  • Tax Payer : Arihant Associates
High Court

HC: TDS default penalty time barred; Limitation reckonable from reference date, not SCN

Nov 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-842-HC-2024(DEL)
  • Tax Payer : M/S ADMA SOLUTIONS PVT. LTD. (FORMERLY KNOWN AS M/S INFOVISION INFORMATION SERVICES PVT.LTD.)
Income tax Appellate Tribunal

ITAT: Managerial services outside ambit of FTS; Not taxable in India under Art 13 of India-UK DTAA

Nov 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-839-ITAT-2024(Mum)
  • Tax Payer : ESAB Holdings Limited
Income tax Appellate Tribunal

ITAT: GST excluded from presumptive income u/s 44B; Sec.145A amendment inapplicable to Sec.44B cases

Nov 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-838-ITAT-2024(Mum)
  • Tax Payer : Orient Overseas Container Line Limited
Income tax Appellate Tribunal

ITAT: Holds Sec.201(1)/(1A) order barred by limitation; Amended limitation u/s 201(3) not applicable

Nov 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-837-ITAT-2024(DEL)
  • Tax Payer : Turner General Entertainment Net works India Limited
Income tax Appellate Tribunal

ITAT: Assessee entitled to credit of brought forward TDS on advance received for terminated contracts

Nov 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-836-ITAT-2024(Mum)
  • Tax Payer : LEC-TPL UJV
High Court

HC: Profits derived from AOP/BOI not taxable in Assessee’s hands u/s 86 r.w.s 67A

Nov 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-835-HC-2024(MP)
  • Tax Payer : RAMESH CHANDRA RAI
Income tax Appellate Tribunal

ITAT: Receipts under code sharing arrangements eligible for Article 8 exemption under India-USA DTAA

Nov 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-833-ITAT-2024(Mum)
  • Tax Payer : Delta Air Lines Inc.
Income tax Appellate Tribunal

ITAT: Depreciation on goodwill created as a result of amalgamation allowable u/s 32

Nov 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-831-ITAT-2024(Ahd)
  • Tax Payer : Suzlon Energy Limited
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Upholds attachment sans proof of source of income; Rejects reliance on Ganapati dealcom

Nov 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-832-PBPTAT-2024(DEL)
  • Tax Payer : Mohd. Farooq
Income tax Appellate Tribunal

ITAT: Notices u/s 148 barred by limitation under TOLA provisions; Follows Ashish Aggarwal

Nov 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-830-ITAT-2024(Mum)
  • Tax Payer : Pushpak Realities Pvt. Ltd
High Court

HC: Capital grant subsidy not payment for works contract, not liable to 194C TDS

Nov 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-829-HC-2024(DEL)
  • Tax Payer : National Highway Authority of India
Income tax Appellate Tribunal

ITAT: Date of allotment of asset crucial for computing LTCG and granting deduction u/s 54F

Nov 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-828-ITAT-2024(Mum)
  • Tax Payer : Sushil P. Shah
High Court

HC: No refund of taxes paid prior to admission of company petition u/s 9 of IBC

Nov 12, 2024
  • In Favour of Revenue
  • Citation Number : TS-826-HC-2024(BOM)
  • Tax Payer : National Company Lawt Tribunal
High Court

HC: Wrong citation of BMA provisions no grounds for setting-aside order; Court reviews records as whole

Nov 12, 2024
  • In Favour of Revenue
  • Citation Number : TS-827-HC-2024(DEL)
  • Tax Payer : Sanjay Bhandari
High Court

HC: Upholds quashing of revision directing Sec. 80P disallowance on interest earned by co-operative society

Nov 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-825-HC-2024(GUJ)
  • Tax Payer : Ashwinkumar Arban Co Operative Society Ltd