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Income tax Appellate Tribunal
ITAT: Bank’s income from securities held as stock-in-trade to be excluded for Sec.14A disallowances
Aug 31, 2024
- In Favour of Assessee
- Citation Number : TS-629-ITAT-2024(CHNY)
- Tax Payer : IDFC First Bank Limited
Income tax Appellate Tribunal
ITAT: Deemed dividend u/Sec.2(22)(e) not attracted in absence of 'actual' payment
Aug 31, 2024
- In Favour of Assessee
- Citation Number : TS-633-ITAT-2024(Bang)
- Tax Payer : Sri Haris Kalandan Mohammed
Foreign Court
FC: French Supreme Court holds Foreign Tax Credit granted by Resident State independent of the quantum of tax paid
Aug 30, 2024
- In Favour of Assessee
- Citation Number : TS-628-FC-2024(FRN)
- Tax Payer : Somfy
Income tax Appellate Tribunal
ITAT: Software sale receipts & provision of ancillary services not FTS sans ‘make available’ fulfillment
Aug 30, 2024
- In Favour of Assessee
- Citation Number : TS-632-ITAT-2024(Bang)
- Tax Payer : Q2 Software Inc
High Court
HC: Quashes reassessment sans key ingredient for invocation of Sec.147 r.w. Sec.148; Follows Hindustan Lever
Aug 29, 2024
- In Favour of Assessee
- Citation Number : TS-627-HC-2024(BOM)
- Tax Payer : The Saraswat Co-operative Bank Limited
High Court
HC: Grants anticipatory bail regarding prosecution under BMA for non-disclosure of foreign undisclosed assets in ITR
Aug 29, 2024
- In Favour of Assessee
- Citation Number : TS-626-HC-2024(MP)
- Tax Payer : Sanjay Vijay Shinde
High Court
HC: Delhi HC overturns AAR in Tiger Global-Flipkart case; Mauritius TRC sacrosanct sans fraud/sham transaction
Aug 28, 2024
- In Favour of Assessee
- Citation Number : TS-624-HC-2024(DEL)
- Tax Payer : TIGER GLOBAL INTERNATIONAL III HOLDINGS
High Court
HC: Tax liability attained finality under VsV, cannot be altered by Revenue by invoking rectification action
Aug 28, 2024
- In Favour of Assessee
- Citation Number : TS-623-HC-2024(DEL)
- Tax Payer : Satish Kumar Dhingra
High Court
HC: Upholds Sec.127 transfer order as clubbing of assessment with related parties was eminently desirable
Aug 27, 2024
- In Favour of Revenue
- Citation Number : TS-621-HC-2024(BOM)
- Tax Payer : Rajiv Saxena
Income tax Appellate Tribunal
ITAT: BMA not applicable as source & genuineness of funds, investments stands substantiated
Aug 27, 2024
- In Favour of Assessee
- Citation Number : TS-620-ITAT-2024(Kol)
- Tax Payer : Akhilesh Singh
Income tax Appellate Tribunal
ITAT: Grants stay to Indian Hotels as refund due constitutes 20% of the outstanding demand
Aug 27, 2024
- In Favour of Assessee
- Citation Number : TS-619-ITAT-2024(Mum)
- Tax Payer : The Indian Hotels Company Limited
Income tax Appellate Tribunal
ITAT: Principle of consistency to be followed, rental income considered as income from house property
Aug 27, 2024
- In Favour of Assessee
- Citation Number : TS-617-ITAT-2024(Kol)
- Tax Payer : EMC Projects Pvt. Limited
Income tax Appellate Tribunal
ITAT: Allows simultaneous deduction u/Sec.54 & 54F, no bar in law for deduction on same asset
Aug 26, 2024
- In Favour of Assessee
- Citation Number : TS-618-ITAT-2024(PUN)
- Tax Payer : Ramdas Sitaram Patil
High Court
HC: Re-iterates re-assessment ingredients, rejects Revenue's 'reformulation' of Sec. 147; Discusses stock market client-code modification
Aug 26, 2024
- In Favour of Assessee
- Citation Number : TS-616-HC-2024(BOM)
- Tax Payer : Aashish Niranjan Shah
Income tax Appellate Tribunal
ITAT: Interest u/Sec.234B & 234C not leviable on payee for failure to deduct TDS by payer
Aug 26, 2024
- In Favour of Assessee
- Citation Number : TS-615-ITAT-2024(Mum)
- Tax Payer : Standard Chartered Bank (Singapore) Limited
Supreme Court
SC: Dismisses Revenue’s SLP against Karnataka HC judgment quashing post search assessment basis loose sheets
Aug 26, 2024
- In Favour of Assessee
- Citation Number : TS-614-SC-2024
- Tax Payer : Sunil Kumar Sharma
High Court
HC: Quashes reassessment proceedings being contrary to notified mandatory procedure u/s 151A; Follows Hexaware
Aug 24, 2024
- In Favour of Assessee
- Citation Number : TS-600-HC-2024(BOM)
- Tax Payer : Tilak Ventures Ltd
High Court
HC: Summoning order passed contrary to law, no prima facie reason for cognizance recorded by lower court
Aug 24, 2024
- In Favour of Assessee
- Citation Number : TS-606-HC-2024(ALL)
- Tax Payer : Keshav Lal
High Court
HC: Group company not taxable under Sec.68, undisclosed income ‘taxed’ in hands of investor company
Aug 24, 2024
- In Favour of Assessee
- Citation Number : TS-608-HC-2024(DEL)
- Tax Payer : Heritage Beverages Pvt. Ltd
High Court
HC: Directors prosecution u/Sec.276B untenable for delayed payment of taxes sans notice u/Sec.2(35) treating as ‘principal officers’
Aug 24, 2024
- In Favour of Assessee
- Citation Number : TS-612-HC-2024(BOM)
- Tax Payer : Hemant Mahipatray Shah and another