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Rulings ( 12947 results )

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Income tax Appellate Tribunal

ITAT: Fresh notice u/s148 mandatory to assess other income, if initial income has not escaped assessment

Nov 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-806-ITAT-2024(JPR)
  • Tax Payer : Amros Engineering (P) Ltd
Income tax Appellate Tribunal

ITAT: Assessee eligible for selection of more beneficial provision; Allows carry forward of STCL

Nov 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-807-ITAT-2024(Mum)
  • Tax Payer : Morgan Stanley Mauritius Company Ltd
Income tax Appellate Tribunal

ITAT: Closure of LO, no visits by expats, change duly substantiated; Holds no PE of Bently Nevada

Nov 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-805-ITAT-2024(DEL)
  • Tax Payer : Bently Nevada Llc
High Court

HC: Sec.153A provisions apply to Sec.153C, subject to satisfaction of conditions; Dismisses Assessee writ

Nov 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-804-HC-2024(MAD)
  • Tax Payer : Pavithra Sugichandran
Income tax Appellate Tribunal

ITAT: Proceedings u/s263 erroneous, no independent finding by Pr.CIT, AO conducted extensive enquiry

Nov 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-803-ITAT-2024(PAT)
  • Tax Payer : Nalanda Engicon Pvt. Ltd
High Court

HC: Advance received in lieu of AMC, taxable in year of receipt, consideration received non-refundable

Nov 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-802-HC-2024(MAD)
  • Tax Payer : Johnson Lifts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Development fees a capital receipt as utilized for creation of capital asset, not part of gross receipt

Oct 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-800-ITAT-2024(JPR)
  • Tax Payer : Navratan Vidha Mandir Shiksha Samiti
Income tax Appellate Tribunal

ITAT: Perpetual debentures with call & step-up option, is borrowing, allows interest u/s36(1)

Oct 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-801-ITAT-2024(Mum)
  • Tax Payer : TMF Holdings Ltd
Income tax Appellate Tribunal

ITAT: No interest is chargeable to tax on advances where no income is accrued

Oct 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-798-ITAT-2024(JPR)
  • Tax Payer : Raath Vidyapeeth
High Court

HC: Partial challenge to ITSC order, untenable, as condition of full & true disclosure satisfied

Oct 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-799-HC-2024(DEL)
  • Tax Payer : ASM Traxim Pvt. Ltd. & Ors
High Court

HC: Distinguishes Hexaware; Reassessment valid even if initiated by JAO

Oct 29, 2024
  • In Favour of Revenue
  • Citation Number : TS-797-HC-2024(DEL)
  • Tax Payer : T.K.S. Builders Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Section 56(2)(vii)(c)(ii) not attracted to shares received under amalgamation scheme, not transfer u/s 47(ii)

Oct 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-796-ITAT-2024(Rjt)
  • Tax Payer : Kruti Rajesh Doshi
High Court

HC: Remedy for claims against deceased Assessee before Insolvency Court; Orders in deceased name invalid

Oct 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-795-HC-2024(MAD)
  • Tax Payer : A. Sai Siva Jyothi
High Court

HC: Reprimands CIT(A) over non-adjudication of appeal pending for more than 8 years; Directs disposal within 3 months

Oct 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-793-HC-2024(BOM)
  • Tax Payer : City Centre Mall Nashik Pvt. Ltd
Income tax Appellate Tribunal

ITAT: DSIR certifies Sec.35(2AB) scientific expense, disallowance of deduction or further scrutiny not valid by AO

Oct 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-794-ITAT-2024(CHNY)
  • Tax Payer : MRF Limited
Income tax Appellate Tribunal

ITAT: Allows FTC to Amarchand Mangaldas on tax withheld in Japan on professional legal fees

Oct 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-790-ITAT-2024(Mum)
  • Tax Payer : Amarchand Mangaldas & Suresh A Shroff & Co.
Income tax Appellate Tribunal

ITAT: Sales, marketing services rendered abroad by NR-agent not FTS, not liable to TDS

Oct 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-787-ITAT-2024(CHNY)
  • Tax Payer : Spel Semiconductor Limited
High Court

HC: Income correctly categorized as ‘income from business’, principle of consistency to be followed

Oct 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-781-HC-2024(BOM)
  • Tax Payer : National Leasing Limited
Foreign Court

FC: Netherlands Court rules Individuals becoming US Residents for Personal Reasons entitled to ‘Government Service’ Article Exemption

Oct 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-844-FC-2023(NETH)
  • Tax Payer : Anonymous
Income tax Appellate Tribunal

ITAT: Clarifies year of taxability of unutilized amount in Cap. Gains Account Scheme

Oct 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-791-ITAT-2024(RAI)
  • Tax Payer : Digamber Madhav Chaudhary