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Rulings ( 13437 results )

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Income tax Appellate Tribunal

ITAT: Section 56(2)(x) prospective in nature, not applicable to transactions prior to 2017

Feb 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-77-ITAT-2025(Kol)
  • Tax Payer : Kajari Banerjee
Income tax Appellate Tribunal

ITAT: Dismisses Cross appeal, disputed amounts under DTVSV proceedings, tax liability already discharged

Feb 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-76-ITAT-2025(Mum)
  • Tax Payer : Priya Hiranandani
Income tax Appellate Tribunal

ITAT: No penalty leviable u/s 271(1)(c), disclosure of primary facts, provision made under bonafide belief

Feb 03, 2025
  • In Favour of Assessee
  • Citation Number : TS-74-ITAT-2025(Mum)
  • Tax Payer : Ambuja Cements Ltd.
High Court

HC: Law firm paying non-lawyer for 'Remfry & Sagar' goodwill, allowable deduction; Bar Council rules not violated

Jan 31, 2025
  • In Favour of Assessee
  • Citation Number : TS-73-HC-2025(DEL)
  • Tax Payer : Remfry & Sagar
High Court

HC: Strikes down CBDT Circular prescribing limitation period for refund petition

Jan 31, 2025
  • In Favour of Assessee
  • Citation Number : TS-69-HC-2025(DEL)
  • Tax Payer : Sun Pharmaceutical Industries Ltd
Income tax Appellate Tribunal

ITAT: Interest arising from securitization of debt eligible for deduction u/s 36(1)(viii)

Jan 31, 2025
  • In Favour of Assessee
  • Citation Number : TS-68-ITAT-2025(Mum)
  • Tax Payer : HDFC Bank Ltd.
Income tax Appellate Tribunal

ITAT: Deletes Sec. 69 addition, alleged bogus share purchase, reflects in demat account

Jan 31, 2025
  • In Favour of Assessee
  • Citation Number : TS-67-ITAT-2025(Mum)
  • Tax Payer : Sandeep Agarwal
Income tax Appellate Tribunal

ITAT: Deletes Sec. 68 addition on undisclosed capital gain sans books of accounts & credit entry

Jan 31, 2025
  • In Favour of Assessee
  • Citation Number : TS-66-ITAT-2025(Mum)
  • Tax Payer : Vimladevi Parasmal Jain
Income tax Appellate Tribunal

ITAT: Third member concurs with JM, reassessment issue dealt in detail, no need to remit matter to CIT(A)

Jan 30, 2025
  • In Favour of Assessee
  • Citation Number : TS-61-ITAT-2025(NAG)
  • Tax Payer : Karan Kothari Jewellers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Penalty u/s 269SS r.w.s 271D not leviable on broker/agent, not a recipient but facilitator

Jan 30, 2025
  • In Favour of Assessee
  • Citation Number : TS-65-ITAT-2025(CHNY)
  • Tax Payer : R. Anbuvelrajan
High Court

HC: Quashes reassessment notice as non-est, Revenue aware of merger;Rejects 'technical glitch' argument

Jan 30, 2025
  • In Favour of Assessee
  • Citation Number : TS-63-HC-2025(BOM)
  • Tax Payer : City Corporation Limited
Income tax Appellate Tribunal

ITAT: CIT(A)'s Dismissal u/s 249(4) unsustainable, taxpayer’s income exempt, no requirement to pay advance tax

Jan 29, 2025
  • In Favour of Assessee
  • Citation Number : TS-60-ITAT-2025(Bang)
  • Tax Payer : Srirampura Prathamika Krishi Pathina Sahakara Sangha Limited
Income tax Appellate Tribunal

ITAT: Accumulated amount 'utilised' for main objects, Sec.11(3)(a) r.w. Sec.11(3)(i) applies; Directs AO to reduce addition

Jan 29, 2025
  • In Favour of Assessee
  • Citation Number : TS-59-ITAT-2025(Mum)
  • Tax Payer : Asia Society India Centre
Income tax Appellate Tribunal

ITAT: Enhanced compensation on land acquisition, interest taxable u/s 56(2)(viii) r.w.s 145B(1), upholds Sec.263 order

Jan 29, 2025
  • In Favour of Revenue
  • Citation Number : TS-58-ITAT-2025(DEL)
  • Tax Payer : Kanta Rani Yadav
High Court

HC: Sale consideration to Bangalore Devt. Auth., subject to TDS u/s 194IA; Upholds demand for interest & late fee

Jan 28, 2025
  • In Favour of Revenue
  • Citation Number : TS-57-HC-2025(KAR)
  • Tax Payer : Basavaraj Gurusiddappa Sindhur
High Court

HC: No interference warranted in Settlement Commission's order, Court not required to go in merits of order

Jan 28, 2025
  • In Favour of Assessee
  • Citation Number : TS-56-HC-2025(GUJ)
  • Tax Payer : Navinchandra Dalpatlal Mehta & Anr
Income tax Appellate Tribunal

ITAT: Upholds CIT(A) order levying penalty u/s 271B, affirms no ‘reasonable cause’ u/s 273B

Jan 27, 2025
  • In Favour of Revenue
  • Citation Number : TS-55-ITAT-2025(SUR)
  • Tax Payer : Pristine Jewellery
High Court

HC: Proceedings against deceased legal representatives null & void, statutory time limit expired

Jan 27, 2025
  • In Favour of Assessee
  • Citation Number : TS-54-HC-2025(KAR)
  • Tax Payer : Preethi V
Income tax Appellate Tribunal

ITAT: Disallowance u/s 36(1)(iii) unsustainable on interest free funds, proven commercial expediency

Jan 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-53-ITAT-2025(Mum)
  • Tax Payer : T Bhimjyani Realty Private Ltd
Income tax Appellate Tribunal

ITAT: Allows MakeMyTrip’s appeal against revision order disallowing ESOP expenditure

Jan 25, 2025
  • In Favour of Assessee
  • Citation Number : TS-49-ITAT-2025(DEL)
  • Tax Payer : Make My Trip (India) Private Limited