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Rulings ( 13225 results )

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High Court

HC: Funds earmarked for specific purpose, not surplus; Interest earned hence not IoS

Dec 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-934-HC-2024(DEL)
  • Tax Payer : International Coal Ventures Pvt. Ltd
High Court

HC: Madras HC holds JAO, FAO have concurrent jurisdiction; Procedural, 'curable' error won't vitiate proceedings

Dec 21, 2024
  • In Favour of Revenue
  • Citation Number : TS-933-HC-2024(MAD)
  • Tax Payer : Mark Studio India Private Limited
Income tax Appellate Tribunal

ITAT: Allows Sec. 80IA deduction on ‘market value’ of rail system development; Follows Jindal Steel & Power

Dec 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-932-ITAT-2024(Mum)
  • Tax Payer : Prism Johnson Limited
Income tax Appellate Tribunal

ITAT: Denies Sec. 11 exemption, delay in filing return u/s 139(4) deadline; Remits back for denovo adjudication

Dec 21, 2024
  • In Favour of Revenue
  • Citation Number : TS-931-ITAT-2024(DEL)
  • Tax Payer : Army Wives Welfare Association
Income tax Appellate Tribunal

ITAT: Deletes addition on capital advance refund; Assessee discharged primary onus, despite disparity in receiver & payer

Dec 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-930-ITAT-2024(Ahd)
  • Tax Payer : Flourish Purefoods Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal having low tax effect, in view of CBDT’s revised monitory limit of Rs. 60 Lacs

Dec 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-915-ITAT-2024(Mum)
  • Tax Payer : Bennett Property Holdings Company Limited
High Court

HC: Sec. 150 invocation not tenable, no finding or direction by Courts, initiation of reassessment unwarranted

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-929-HC-2024(DEL)
  • Tax Payer : CAPITAL POWER SYSTEMS LTD
Income tax Appellate Tribunal

ITAT: Valuation by DCF method acceptable, deletes addition u/s 56(2)(viib)

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-927-ITAT-2024(Mum)
  • Tax Payer : Shaha Finlease Private Limited
Income tax Appellate Tribunal

ITAT: Advertisement space purchased from third party not taxable under Article 12(3) of India-Singapore DTAA

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-926-ITAT-2024(DEL)
  • Tax Payer : Criteo Singapore Pte. Ltd
Income tax Appellate Tribunal

ITAT: Services rendered deemed FTS, income source in India, taxable u/s 9(1)(vii)

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-925-ITAT-2024(DEL)
  • Tax Payer : Tungsten Network Ltd
High Court

HC: Revision u/s 263 unsustainable, sans tax loss to Revenue, even if potential implications in company's hands

Dec 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-924-HC-2024(DEL)
  • Tax Payer : Genpact Consulting Singapore Pte Ltd
High Court

HC: Sets aside withholding tax order, remits matter for consideration of taxpayer’s allowance of expenses

Dec 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-923-HC-2024(DEL)
  • Tax Payer : Travelport International Operations Limited
Income tax Appellate Tribunal

ITAT: Disallowance u/s 40(a)(ia) unwarranted, no liability for TDS u/s 194C, taxpayer not sub-contractor

Dec 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-922-ITAT-2024(Mum)
  • Tax Payer : Partho Das
High Court

HC: Affirms ITAT ruling holding no PE for Western Union Financial Services;

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-920-HC-2024(DEL)
  • Tax Payer : Western Union Financial Services Inc.
Income tax Appellate Tribunal

ITAT: Upholds invocation of Sec. 263, claim of depreciation on goodwill not examined by AO

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-919-ITAT-2024(Mum)
  • Tax Payer : Orion India Systems Private Limited
Income tax Appellate Tribunal

ITAT: Disallowance of interest u/s 36(1)(iii) unsustainable, commercial expediency to be examined

Dec 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-918-ITAT-2024(Mum)
  • Tax Payer : Sachin Chandru Mirani
Income tax Appellate Tribunal

ITAT: Quashes reassessment sans specific allegations by Revenue, rejects Assessee's contention on VSV 2020 Scheme

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-917-ITAT-2024(Bang)
  • Tax Payer : Eurofins Peenya Resources Private Limited
Income tax Appellate Tribunal

ITAT: Allows depreciation on assets transferred under merger; Revenue cannot challenge scheme at implementation

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-916-ITAT-2024(DEL)
  • Tax Payer : Indus Towers Ltd (formerly known as Bharti Infratel Ltd)
Income tax Appellate Tribunal

ITAT: Allows deduction u/s 80-IA, no electronic filing required in AY 2010-11, Form 10CCB filed during reassessment

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-914-ITAT-2024(RAN)
  • Tax Payer : Jamshedpur Utilities and Services Company Limited
Income tax Appellate Tribunal

ITAT: No addition can be made for issues not forming part of reasons recorded for reassessment; Relies on Jet Airways

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-905-ITAT-2024(Mum)
  • Tax Payer : Magnetic Properties Exim Pvt. Ltd