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Rulings ( 12900 results )

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Income tax Appellate Tribunal

ITAT: Recharacterisation of nature of transaction erroneous, TDS duly deposited, cannot hold Assessee-in-default u/s201

Jul 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-536-ITAT-2024(DEL)
  • Tax Payer : Toshiba Corporation
Foreign Court

FC: Sweden Supreme Court holds residence State obligated to grant credit despite timing & characterisation mismatch

Jul 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-842-FC-2023(SWD)
  • Tax Payer : AA
Income tax Appellate Tribunal

ITAT: Invoking Sec.28(iv) for accrual of ‘benefit’ on share acquisition at discount, erroneous, as shares held as investment

Jul 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-534-ITAT-2024(DEL)
  • Tax Payer : Hero Motocorp Ltd. (as successor of Hero Investment P. Ltd.)
Income tax Appellate Tribunal

ITAT: State Advocate welfare funds are exempt from application of Central Acts; Allows Sec.11 exemption

Jul 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-533-ITAT-2024(CHNY)
  • Tax Payer : Tamilnadu Advocate Welfare Fund
High Court

HC: Sec. 9 amendments cannot subsume, eclipse DTAA provisions; Bandwidth services income not royalty

Jul 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-529-HC-2024(DEL)
  • Tax Payer : TELSTRA SINGAPORE PTE LTD
Income tax Appellate Tribunal

ITAT: New Indo-Mauritius Protocol not yet notified; Grants treaty benefit basis TRC

Jul 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-528-ITAT-2024(DEL)
  • Tax Payer : Maven India Fund
Income tax Appellate Tribunal

ITAT: Third Member concurs with JM, deletes purchase disallowance sans third party's cross-examination

Jul 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-524-ITAT-2024(ASR)
  • Tax Payer : Gujranwala Jewellers
High Court

HC: Holds no income escapement as Assessee was entitled to 50% share of properties, u/Sec. 5A

Jul 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-522-HC-2024(BOM)
  • Tax Payer : Sunita Purushottam Virgincar
Supreme Court

SC: Order copy dismissing Revenue SLP in Infosys on TDS 'impossibility' w.r.t Sec. 9(1)vii) retro amendment

Jul 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-521-SC-2024
  • Tax Payer : Infosys Ltd
High Court

HC: Proceedings deemed complete if order communicated to Assessee; Quashes reassessment as time barred u/Sec.153(2)

Jul 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-520-HC-2024(MN)
  • Tax Payer : Mema Paul (expired) through her Legal Representatives
Income tax Appellate Tribunal

ITAT: Microfinancing with exorbitant interest rate & profit intent, not charitable activity; Rejects Sec.11 exemption

Jul 20, 2024
  • In Favour of Revenue
  • Citation Number : TS-509-ITAT-2024(CHNY)
  • Tax Payer : Innovative Microfinance
Income tax Appellate Tribunal

ITAT: Appeal order without addressing on merits contrary to Sec.250(6), CIT(A) bound to pass speaking order

Jul 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2024(Ahd)
  • Tax Payer : Jade Granites Industries
Income tax Appellate Tribunal

ITAT: Adjudicate on merits against Assessee undergoing liquidation, IBC supersedes Income Tax Act

Jul 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2024(Mum)
  • Tax Payer : Doshion Veolia Water Solution P. Ltd
Foreign Court

FC: UK Upper Tribunal rules Subjective Purpose Test not satisfied sans Treaty Benefit, the main purpose

Jul 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-516-FC-2024(UK)
  • Tax Payer : Burlington Loan Management DAC
High Court

HC: Quashes assessment order sans notice to Assessee for variation from SCN w.r.t. invocation of charging provision

Jul 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-515-HC-2024(CAL)
  • Tax Payer : Vishal Jhajharia
Income tax Appellate Tribunal

ITAT: Third Member resolves piquant search issue, turns Revenue's DIN argument on its head

Jul 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-517-ITAT-2024(RAI)
  • Tax Payer : Ashish Singhania
Income tax Appellate Tribunal

ITAT: Affirms Mauritius DTAA benefit citing Azadi Bachao, commercial rationale & India's investment/business model

Jul 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-514-ITAT-2024(DEL)
  • Tax Payer : India Property (Mauritius) Company
Income tax Appellate Tribunal

ITAT: Deletes addition of non-compete fees paid to retiring partner of LLP, holding same to be revenue in nature

Jul 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2024(Ahd)
  • Tax Payer : Samkeet Arya Homes LLP
Income tax Appellate Tribunal

ITAT: Holds SC in Checkmate is declaration of law, applies to all proceedings, scrutiny assessment & return processing u/s143(1)

Jul 18, 2024
  • In Favour of Revenue
  • Citation Number : TS-511-ITAT-2024(Ahd)
  • Tax Payer : Checkmate Services P. Ltd
Income tax Appellate Tribunal

ITAT: Directs Revenue to modify demand notice as per NCLT order in accordance with Sec. 156A

Jul 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-508-ITAT-2024(CHNY)
  • Tax Payer : Aircel Limited