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Rulings ( 12894 results )

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High Court

HC: Deduction u/Sec.33AC to be factored prior to computing deduction u/Sec.80-I, disregards proportionate allocation

Aug 23, 2024
  • In Favour of Revenue
  • Citation Number : TS-611-HC-2024(BOM)
  • Tax Payer : Tolani Ltd
Foreign Court

FC: Islamabad Tribunal rules 'may be taxed' does not take away Resident State's taxing right

Aug 23, 2024
  • In Favour of Revenue
  • Citation Number : TS-1065-FC-2022
  • Tax Payer : Mr. Naseer Ali Khan
Income tax Appellate Tribunal

ITAT: Coursera’s aggregation of course contents not FTS Receipts; AO ignoring DRP directions highly objectionable

Aug 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-610-ITAT-2024(DEL)
  • Tax Payer : Coursera Inc.
Income tax Appellate Tribunal

ITAT: Confirms addition of share premium u/Sec. 68 sans proof of identity, creditworthiness and genuineness

Aug 23, 2024
  • In Favour of Revenue
  • Citation Number : TS-609-ITAT-2024(PUN)
  • Tax Payer : Prasanna Purple Mobility Solutions Private Limited
High Court

HC: AO to accord TDS credit as directed by ITAT, cannot restrict to claim in return

Aug 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-607-HC-2024(DEL)
  • Tax Payer : ESS Singapore Branch
Income tax Appellate Tribunal

ITAT: MMR applies to resident company share as AOP share determinate, higher rate for foreign company

Aug 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-605-ITAT-2024(DEL)
  • Tax Payer : JV of TATA Projects Limited and Chint Electric Company Ltd
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Holds property not benami since held in fiduciary capacity; Refuses to confirm provisional attachment

Aug 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-604-PBPTAT-2024(DEL)
  • Tax Payer : Sivashankari & Anr
Income tax Appellate Tribunal

ITAT: Payments to CDB eligible for benefits u/Article 11(3) of China DTAA, Tata not 'Assessee in default'

Aug 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-603-ITAT-2024(DEL)
  • Tax Payer : Tata Teleservices Ltd
Income tax Appellate Tribunal

ITAT: Penalty u/sec.271(1)(c) untenable, AO accepted income declared through revised return

Aug 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-602-ITAT-2024(Mum)
  • Tax Payer : Rohit Chatterji
High Court

HC: Quashes DRP order directing addition u/Sec. 56(2)(viib), remits matter for fresh adjudication

Aug 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-601-HC-2024(DEL)
  • Tax Payer : FIS Payment Solutions And Services India Private Limited
Income tax Appellate Tribunal

ITAT: Only trust comprising of all individual beneficiaries, not liable to tax at maximum marginal rate

Aug 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-599-ITAT-2024(Ahd)
  • Tax Payer : Pashiben Prajapati Family Trust(DISC)
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Acquisition of property from illicit income considered as 'Benami transaction'; Allows department's appeal

Aug 20, 2024
  • In Favour of Revenue
  • Citation Number : TS-598-PBPTAT-2024(DEL)
  • Tax Payer : Domendra Dhariwal & Anr
High Court

HC: Bombay HC torches AO for unconscionable conduct, disregarding binding judgment; Slaps Rs.25,000 fine

Aug 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-597-HC-2024(BOM)
  • Tax Payer : Samp Furniture Pvt. Ltd
High Court

HC: Circulars/Instructions supplement not supplant statutory provisions, quashes Sec.148 notice

Aug 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-577-HC-2024(P & H)
  • Tax Payer : Jatinder Singh Bhangu
High Court

HC: E-auction bid amount does not constitute Assessee’s income, erroneous view, quashes reassessment

Aug 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-596-HC-2024(DEL)
  • Tax Payer : Vedanta Limited
Income tax Appellate Tribunal

ITAT: Interest income ‘attributable’ to carrying on ‘cottage business’, allowable as Sec.80P(2) deduction

Aug 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2024(CHNY)
  • Tax Payer : Potheri Village Weaning Food
High Court

HC: Objections to issuance of notice u/Sec.148 invalid in accordance with Sec.292BB

Aug 17, 2024
  • In Favour of Revenue
  • Citation Number : TS-595-HC-2024(MAD)
  • Tax Payer : K P S Enterprises a partnership firm
Income tax Appellate Tribunal

ITAT: Advertisement expenses claimed by Hospital violates Indian Medical Council Regulations, 2002

Aug 17, 2024
  • In Favour of Revenue
  • Citation Number : TS-587-ITAT-2024(VIZ)
  • Tax Payer : Chalasani Hospitals (P.) Ltd
Income tax Appellate Tribunal

ITAT: Professional fees paid by KPMG to independent consultant not FTS or business income sans PE

Aug 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2024(Mum)
  • Tax Payer : KPMG Assurance and Consulting Services LLP
Income tax Appellate Tribunal

ITAT: Expenditure in foreign currency for technical services outside India, not part of ‘export turnover’ u/Sec.10AA

Aug 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-592-ITAT-2024(Bang)
  • Tax Payer : IBM Global Services India Private Ltd.