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Rulings ( 12894 results )

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Income tax Appellate Tribunal

ITAT: Maintenance expenditure on residential property deductible u/s 57; Cites direct nexus with FDR interest

Sep 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-643-ITAT-2024(Ahd)
  • Tax Payer : The Venus Parkland Co-Op. Housing Service Society Ltd
High Court

HC: Transfer of jurisdiction valid as incriminating documents seized from different jurisdiction

Sep 07, 2024
  • In Favour of Revenue
  • Citation Number : TS-650-HC-2024(MAD)
  • Tax Payer : Suvali Real Properties LLP
Income tax Appellate Tribunal

ITAT: SB holds Sec.115JB not applicable to 'corresponding new bank' under Banking Cos Act

Sep 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-654-ITAT-2024(Mum)
  • Tax Payer : Union Bank of India
Foreign Court

FC: Corporations subject to full tax liability under domestic law, not Ipso Facto qualify as residents under treaty

Sep 06, 2024
  • In Favour of Revenue
  • Citation Number : TS-651-FC-2024(UK)
  • Tax Payer : GE Financial Investments
High Court

HC: Central and International taxation charges subject to faceless mechanism; Follows CapitalG LP

Sep 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-647-HC-2024(BOM)
  • Tax Payer : Abhin Anilkumar Shah
Income tax Appellate Tribunal

ITAT: Allows deduction as provision made on methodology substantiated by workings & not scientific basis

Sep 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-652-ITAT-2024(CHNY)
  • Tax Payer : International Seaport Dredging Private Limited
Income tax Appellate Tribunal

ITAT: Violated principle of natural justice under BMA, denial of hearing & judicial precedents used against Assessee

Sep 06, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-649-ITAT-2024(Mum)
  • Tax Payer : Arnab Mitra
High Court

HC: CSR provision u/Sec.135 of Companies Act is prospective sans mention of retrospective applicability

Sep 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-646-HC-2024(JHAR)
  • Tax Payer : Mecon Limited
Income tax Appellate Tribunal

ITAT: Quashes Sec.263 Revision for non-fulfilment of conditions, concerned issue being highly debatable

Sep 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-645-ITAT-2024(CHNY)
  • Tax Payer : Gaurav Dugar
Supreme Court

SC: Rejects retrospective operation to Sec.80DD amendments, being against interest of disabled

Sep 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-644-SC-2024
  • Tax Payer : Ravi Agrawal
High Court

HC: Cash seized from third party cannot be adjusted against advance tax liability of Assessee

Sep 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-642-HC-2024(P & H)
  • Tax Payer : Kamla Mehta
Income tax Appellate Tribunal

ITAT: Transfer of self-generated trademark taxable as capital gain, registration cost claimed as Revenue expenses

Sep 04, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-641-ITAT-2024(DEL)
  • Tax Payer : Mawana Sugar Ltd
Supreme Court

SC: Dismisses Revenue's SLP on CIT exceeding Sec. 263 jurisdiction

Sep 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-640-SC-2024
  • Tax Payer : Paradeep Phosphates Ltd
High Court

HC: Delay in filing Form 10-IC condoned, taxpayer satisfies Sec.115BAA, rejection on technical ground untenable

Sep 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-639-HC-2024(GUJ)
  • Tax Payer : V M Procon Pvt Ltd
High Court

HC: No coercive action against Assessee if notifications exempt Assessee from paying income tax

Sep 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-638-HC-2024(TEL)
  • Tax Payer : Telangana Building and Other Construction Workers Welfare Board
Income tax Appellate Tribunal

ITAT: Sec.153A jurisdiction for unabated assessment invalid, sans incriminating material & valid approval

Sep 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-636-ITAT-2024(RAI)
  • Tax Payer : N.R Ispat & Power Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Discontinuance of business not disclosed to Revenue not an omission but deliberate concealment

Sep 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-635-ITAT-2024(Ahd)
  • Tax Payer : Real Cargo Mumbai
Income tax Appellate Tribunal

ITAT: Pre-demonetisation cash sales cannot be deemed inflated sans rejection of books of accounts

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2024(DEL)
  • Tax Payer : Hari Om Retail Private Ltd
Income tax Appellate Tribunal

ITAT: Subsidy via VAT refund from Tamil Nadu Govt. towards Investment Promotion Subsidy ‘Capital receipt’.

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-622-ITAT-2024(CHNY)
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Upholds JN Tata endowment’s Sec.11 exemption on loan scholarship for overseas education

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-625-ITAT-2024(Mum)
  • Tax Payer : JN Tata Endowment for the Higher Education of Indians