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Rulings ( 13225 results )
Income tax Appellate Tribunal
ITAT: No liability u/s 201(1A), short deduction of tax u/s 192 corrected in later months
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-871-ITAT-2024(Mum)
- Tax Payer : The Great Eastern Shipping Co. Ltd
Income tax Appellate Tribunal
ITAT: Quashes Sec.153C assessment sans incriminating material & independent corroboration with alleged undisclosed cash receipts
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-870-ITAT-2024(Ind)
- Tax Payer : Asnani Builders & Developers Ltd
Income tax Appellate Tribunal
ITAT: No liability to deduct TDS u/s 194A, interest paid to bank through group companies
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-867-ITAT-2024(Mum)
- Tax Payer : KD Lite Develpers Pvt Ltd
Income tax Appellate Tribunal
ITAT: No transfer on execution of agreement, for 56(2)(x) AO to consider circle rate
Nov 28, 2024
- In Favour of Assessee
- Citation Number : TS-866-ITAT-2024(Kol)
- Tax Payer : Tamal Kundu
Income tax Appellate Tribunal
ITAT: Allows interest on borrowed funds for purchase of property for long term capital gains computation
Nov 27, 2024
- In Favour of Assessee
- Citation Number : TS-865-ITAT-2024(Mum)
- Tax Payer : Neville Tuli
Income tax Appellate Tribunal
ITAT: Deletes Sec.68 addition; Holds burden of proof cannot be discharged to the hilt by Assessee
Nov 26, 2024
- In Favour of Assessee
- Citation Number : TS-864-ITAT-2024(Mum)
- Tax Payer : Royal India Corporation Limited
Income tax Appellate Tribunal
ITAT: Absence of explanation for charging excess share premium, taxable u/s 56(2)(viib)
Nov 26, 2024
- In Favour of Revenue
- Citation Number : TS-863-ITAT-2024(Ahd)
- Tax Payer : Parasmani Gems Pvt Ltd
High Court
HC: Pending review petition with SC, partakes character of pending proceedings under DTVSV Act
Nov 26, 2024
- In Favour of Assessee
- Citation Number : TS-862-HC-2024(DEL)
- Tax Payer : NRA Iron and Steel Pvt. Ltd.
Income tax Appellate Tribunal
ITAT: No tangible material or failure on part of taxpayer, mere change of opinion, reassessment u/s 147 invalid
Nov 25, 2024
- In Favour of Assessee
- Citation Number : TS-861-ITAT-2024(Mum)
- Tax Payer : The Hongkong and Shangai Banking Corporation Limited
Income tax Appellate Tribunal
ITAT: No make available clause satisfied under Article 12(4), India-US DTAA on sale of copyrighted article
Nov 23, 2024
- In Favour of Assessee
- Citation Number : TS-851-ITAT-2024(DEL)
- Tax Payer : DigiCert Inc
Income tax Appellate Tribunal
ITAT: Arbitration award for breach of contractual obligation, business income; Not taxable sans PE
Nov 23, 2024
- In Favour of Assessee
- Citation Number : TS-857-ITAT-2024(DEL)
- Tax Payer : Fujitsu Ltd
High Court
HC: Quashes reassessment, investor not in sham transaction, no intelligible nexus between reasons & belief
Nov 23, 2024
- In Favour of Assessee
- Citation Number : TS-859-HC-2024(MAD)
- Tax Payer : Spencer and Company Limited
Income tax Appellate Tribunal
ITAT: Denial of FTC unsustainable, procedural compliance stands satisfied by submission of Form 67
Nov 23, 2024
- In Favour of Assessee
- Citation Number : TS-860-ITAT-2024(Kol)
- Tax Payer : Neetu Agarwal
High Court
HC: Reassessment initiated u/s 147 valid even if jurisdictional condition u/s 153C unsatisfied
Nov 22, 2024
- In Favour of Revenue
- Citation Number : TS-856-HC-2024(DEL)
- Tax Payer : NAVEEN KUMAR GUPTA
High Court
HC: Allows business loss holding the same to be genuine and not a sham transaction
Nov 22, 2024
- In Favour of Assessee
- Citation Number : TS-855-HC-2024(DEL)
- Tax Payer : G-TEKT INDIA PVT. LTD.
Income tax Appellate Tribunal
ITAT: No penalty u/s 271D leviable as no violation of provisions of Section 269SS
Nov 21, 2024
- In Favour of Assessee
- Citation Number : TS-854-ITAT-2024(DDN)
- Tax Payer : Uttarakhand Enterprises Ltd
Supreme Court
SC: Dismisses Revenue’s SLP on the issue of validity of jurisdiction u/s 153C
Nov 20, 2024
- In Favour of Assessee
- Citation Number : TS-834-SC-2024
- Tax Payer : Himalaya Drug Company
Income tax Appellate Tribunal
ITAT: Repairs & maintenance services of aircraft equipment not FTS, make available not satisfied
Nov 20, 2024
- In Favour of Assessee
- Citation Number : TS-853-ITAT-2024(DEL)
- Tax Payer : Rockwell Collins Southeast Asia Pte Ltd
Income tax Appellate Tribunal
ITAT: Eligible for TDS credit in AY 2008-09 although corresponding income offered in previous AY
Nov 20, 2024
- In Favour of Assessee
- Citation Number : TS-852-ITAT-2024(Ahd)
- Tax Payer : Suzlon Energy Ltd
Supreme Court
SC: Dismisses Revenue’s SLP on invocation of penalty against SBI; Affirms Karnataka HC in Manjunatha Cotton
Nov 20, 2024
- In Favour of Assessee
- Citation Number : TS-850-SC-2024
- Tax Payer : State Bank of India