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Rulings ( 13225 results )

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High Court

HC: Sec.148 notice by JAO valid, as proceedings basis information received during search

Oct 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-744-HC-2024(GUJ)
  • Tax Payer : Talati And Talati LLP
Income tax Appellate Tribunal

ITAT: Substantial justice to prevail over technical considerations for condonation of delay, allows appeal

Oct 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-743-ITAT-2024(Mum)
  • Tax Payer : Dhoot Industrial Finance Ltd
Income tax Appellate Tribunal

ITAT: Maximum surcharge rate applies for MMR for Pvt. discretionary trust; CPC empowered to compute correct tax

Oct 09, 2024
  • In Favour of Revenue
  • Citation Number : TS-741-ITAT-2024(Mum)
  • Tax Payer : Aradhya Jain Trust
High Court

HC: Anonymous donations to Shridi Sai Baba trust eligible u/s115BBC(2)(b); Sec.80G & Sec.115BBC(2)(b) independent provisions

Oct 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-740-HC-2024(BOM)
  • Tax Payer : Shree Sai Baba Sansthan Trust – Shirdi
Income tax Appellate Tribunal

ITAT: Findings under Income tax proceedings not binding under BMA, as BMA taxes undisclosed income

Oct 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-739-ITAT-2024(Mum)
  • Tax Payer : Captain Vilas Waman Katre
Income tax Appellate Tribunal

ITAT: CIT(A) exceeded in powers, in contravention to Sec.251, remands back to CIT(A)

Oct 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-737-ITAT-2024(Mum)
  • Tax Payer : Jyoti Prakash Deshmukh
Income tax Appellate Tribunal

ITAT: Assessee deemed Indian resident by virtue of Article 4(2)(a) of India-US DTAA, dismisses appeal

Oct 07, 2024
  • In Favour of Revenue
  • Citation Number : TS-736-ITAT-2024(Mum)
  • Tax Payer : Ashok Kumar Pandey
Income tax Appellate Tribunal

ITAT: Valuation of stock in accordance to Sec 145A and ICDS, deletes addition

Oct 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-735-ITAT-2024(COCH)
  • Tax Payer : Arunkumar Puthige
Income tax Appellate Tribunal

ITAT: Quashes penalty as Revenue failed to point specific action u/Sec.270A(9) for imposition of penalty

Oct 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-726-ITAT-2024(Bang)
  • Tax Payer : IIFL Samasta Finance Limited
Income tax Appellate Tribunal

ITAT: Block period for Sec.153C proceedings begins from receipt of seized material by AO; Quashes Sec.153 proceedings

Oct 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-731-ITAT-2024(CHNY)
  • Tax Payer : KSJ Infrastructure Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Disallowance u/Sec.40A(3)/40(a)(ia) unwarranted, where profits estimated post rejection of books of accounts

Oct 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-732-ITAT-2024(CHNY)
  • Tax Payer : Shri Irulandi Thevar Vetrivel
High Court

HC: Upholds Sec.80-IA deduction towards port development post agreement with State nodal agency

Oct 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-728-HC-2024(CAL)
  • Tax Payer : Bothra Shipping Services Private Limited
Supreme Court

SC: Copy of SC order dismissing assessee's SLP on guarantee charges

Oct 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-734-SC-2024
  • Tax Payer : Johnson Matthey Public Ltd. Company
High Court

HC: Settlement applications permitted before Settlement Commission where search conducted prior to March 31, 2021

Oct 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-733-HC-2024(KER)
  • Tax Payer : NEW HOPE FOUNDATION
Foreign Court

FC: Finnish SC on Beneficiary’s Entitlement to FTC Paid by Estate of Deceased

Oct 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-1067-FC-2022(FIN)
  • Tax Payer : A
Supreme Court

SC: Beyond AO's powers to accept time-barred revised return claim; Distinguishes Wipro Finance

Oct 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-730-SC-2024
  • Tax Payer : M/s Shriram Investments
Income tax Appellate Tribunal

ITAT: Allows 20% concessional cap. gains rate to depreciable assets; Accountant Member dissents

Oct 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-729-ITAT-2024(Mum)
  • Tax Payer : SKF India Limited
Income tax Appellate Tribunal

ITAT: Holds MADC to be State under Article 289(1), thus interest on FDs not chargeable to tax

Oct 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-727-ITAT-2024(Mum)
  • Tax Payer : Maharashtra Airport Development Co. Ltd
Supreme Court

SC: TOLA survives post IT Act amendment courtesy 'substitution' principle'; Upholds re-assessment notices

Oct 03, 2024
  • In Favour of Revenue
  • Citation Number : TS-725-SC-2024
  • Tax Payer : Rajeev Bansal
High Court

HC: Rejection of revision application not correct, Sec.264 salutary provision allows remedy of mistakes

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-724-HC-2024(BOM)
  • Tax Payer : Bahar Infocons Pvt. Ltd