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Rulings ( 13225 results )

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Income tax Appellate Tribunal

ITAT: Proceeds from sale of land/flats consequent to dissolution of partnership-firm taxable as ‘capital gains’

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-889-ITAT-2024(NAG)
  • Tax Payer : Deepak Gadge
Income tax Appellate Tribunal

ITAT: Deletes levy of interest u/s 234C given taxpayer discharged its advance tax liability

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-895-ITAT-2024(CHNY)
  • Tax Payer : IDFC Financial Holdings - Co. Ltd
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Refuses attachment under Benami Act absent cogent evidence proving beneficial ownership of Ajit Pawar, others

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-890-PBPTAT-2024(DEL)
  • Tax Payer : Nibhodh Trading Pvt. Ltd. &Ors
Income tax Appellate Tribunal

ITAT: Imposes cost on Revenue for ‘casual attitude’ in dismissing Assessee’s appeal twice at CIT(A) stage

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-888-ITAT-2024(Ahd)
  • Tax Payer : Seema Ajay Ranka
Income tax Appellate Tribunal

ITAT: Raps AO for failing to consider disputed documents' contents for establishing ‘incriminating material’

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-880-ITAT-2024(DEL)
  • Tax Payer : DMG Finance Investment Private Limited
Income tax Appellate Tribunal

ITAT: Mandatory provision for passing draft-order applies to non-resident “eligible assessee” u/s 144C(15)

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-887-ITAT-2024(Mum)
  • Tax Payer : Hasmukh Dipchand Gardi
Income tax Appellate Tribunal

ITAT: Upholds penalty u/s 271(1)(c), 271AAB for failure to establish ‘genuineness’ of expenditure

Dec 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-883-ITAT-2024(PUN)
  • Tax Payer : Shreehari Associates Pvt Ltd
Income tax Appellate Tribunal

ITAT: Explains Rule of Appropriation; AO can't change interest paid u/s 234B on total-income determination u/s 143(1)/(3)

Dec 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-886-ITAT-2024(Mum)
  • Tax Payer : Oasis Landmarks LLP
Income tax Appellate Tribunal

ITAT: Payment to non-residents for warehousing charges outside India, not FTS, deletes Sec. 195 disallowance

Dec 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-879-ITAT-2024(DEL)
  • Tax Payer : Avtec Limited
Income tax Appellate Tribunal

ITAT: CSR expenditure eligible for deduction u/s 80G, remits matter to AO for verification

Dec 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-885-ITAT-2024(Mum)
  • Tax Payer : Mahyco Monsanto Biotech (India) Private Limited
Supreme Court

SC: Reassessment proceedings to be dropped as tax liability below Rs. 50-lakh; Follows Rajiv Bansal

Dec 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-884-SC-2024
  • Tax Payer : Vinal Comtrade Pvt. Ltd
Supreme Court

SC: SC permits deceased assessee's legal representative to challenge reassessment notice as being vitiated

Dec 03, 2024
  • In Favour of None/NA
  • Citation Number : TS-882-SC-2024
  • Tax Payer : Ghanyashyam Anil Dhanani
Income tax Appellate Tribunal

ITAT: No obligation to file Form 10IC where Taxpayer's option of u/s115BAA accepted

Dec 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-878-ITAT-2024(DEL)
  • Tax Payer : Indo British Garments Pvt. Ltd
Supreme Court

SC: Remands limitation issue of reassessment proceedings to the Revenue, relies on Rajeev Bansal

Dec 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-877-SC-2024
  • Tax Payer : Seahorse Mercantile Company Pvt Ltd
High Court

HC: Upholds quashing of reassessment proceedings initiated based on Revenue’s change of opinion

Nov 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-869-HC-2024(MAD)
  • Tax Payer : Sakthi Textiles Ltd
Income tax Appellate Tribunal

ITAT: Quashes Sec. 153C assessment, ‘satisfaction note’ devoid of cogent incriminating material & independent investigation

Nov 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-875-ITAT-2024(DEL)
  • Tax Payer : Renu Singh
Income tax Appellate Tribunal

ITAT: No TDS on payments to State Government; Disallowance u/s 40(a)(ia) unwarranted

Nov 30, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-872-ITAT-2024(Mum)
  • Tax Payer : Mahaonline Ltd
High Court

HC: Broken period interest allowable as deduction, if securities held as stock-in-trade sans Revenue loss

Nov 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-868-HC-2024(BOM)
  • Tax Payer : HDFC Bank Ltd
Income tax Appellate Tribunal

ITAT: Allows depreciation on goodwill under amalgamation, towards excess payment of fair value of assets taken over

Nov 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-874-ITAT-2024(Mum)
  • Tax Payer : Dow Chemical International Private Ltd.
Income tax Appellate Tribunal

ITAT: Mere change of ownership does not disentitle undertaking from benefits u/s 80IA(4)

Nov 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-873-ITAT-2024(HYD)
  • Tax Payer : Lanco Solar (Gujarat) Private Limited