Direct tax Rulings

In Favour of Revenue
Citation Number : TS-1066-FC-2022(ISR)
Tax Payer : Lo-Ban Resources Ltd, Dekal Foreign Workers Ltd and CG Personnel Services KA 2005 Ltd

High Court

HC: Proceedings on ceased entity unsustainable, incurable u/s 292B; Follows Maruti Suzuki

Sep 27, 2024

In Favour of Assessee
Citation Number : TS-715-HC-2024(DEL)
Tax Payer : International Hospital Limited

High Court

HC: Abhisar Buildwell ratio no 'carte blanche' for Revenue to overcome statutory bar on reassessments

Sep 26, 2024

In Favour of Assessee
Citation Number : TS-714-HC-2024(DEL)
Tax Payer : ARN Infrastructures India Limited

Income tax Appellate Tribunal

ITAT: Delay in filing appeal not attributable to taxpayer, intimation u/s143(1) received after 4036 days, delay condoned

Sep 26, 2024

In Favour of Assessee
Citation Number : TS-709-ITAT-2024(Mum)
Tax Payer : Canadian Kay Pump Ltd

High Court

HC: Employees not liable for deposit of TDS on employer’s failure, breach of Sec.205

Sep 25, 2024

In Favour of Assessee
Citation Number : TS-712-HC-2024(BOM)
Tax Payer : Aslam Checkar

High Court

HC: Remits issue, if forex loss on loan for acquiring assets within India not capital, de-hors Sec.43A

Sep 25, 2024

In Favour of Assessee
Citation Number : TS-711-HC-2024(BOM)
Tax Payer : Galaxy Surfactants Ltd

Income tax Appellate Tribunal

ITAT: Deletes addition u/s 158BC basis presumption of practice prevalent in industry, no concrete evidence

Sep 25, 2024

In Favour of Assessee
Citation Number : TS-710-ITAT-2024(Ahd)
Tax Payer : Yash Organics Ltd

Supreme Court

SC: Dismisses assessee's SLP in penny stock transaction case involving 'bogus' capital gains claim

Sep 24, 2024

In Favour of Revenue
Citation Number : TS-707-SC-2024
Tax Payer : Manoj Jain (Hindu Undivided Family)

Income tax Appellate Tribunal

ITAT: Income from sale of MEIS scrips not income u/s 2(24)(xviii) but non-taxable capital receipts

Sep 24, 2024

In Favour of Assessee
Citation Number : TS-706-ITAT-2024(CHNY)
Tax Payer : Eastman Exports Global Clothing (P) Ltd

High Court

HC: No reward under Informants Reward Scheme, information already examined under assessment

Sep 23, 2024

In Favour of Revenue
Citation Number : TS-705-HC-2024(DEL)
Tax Payer : Mohinder Pal Singh Bhasin

Filters

Rulings ( 13225 results )

SC: Copy of SC order disposing off hundreds of low tax effect cases

ITAT: Signing of assessment order ‘mandatory’ & ‘integral’; Assessment incomplete & invalid sans digital signature

ITAT: Expenditure incurred for business allowable u/s37, cannot deny basis income not recognized in the year

SC: Technological impediment cannot be reason for harassing Assessee; Directs Revenue to rectify excess levy

ITAT: Infrastructure devpt. co. ineligible for depreciation u/s32 on toll roads sans ‘ownership’; Follows North Karnataka

HC: Approval u/s10(23C) cannot be denied sans specific findings on objects qua ‘educational activities’

HC: Reiterates legal position on 'substantial question of law', no dispute over genuineness of loss

HC: Amendment to Sec.14A prospective in nature, follows Era Infrastructure, reprimands ITAT

SC: Copy of SC order dismissing SLP in software taxation issue, noting Revenue's concession

PBPTAT: Cash seized substantively proved to be belonging to the beneficial owner

FC: SC of Israel holds non-discrimination basis nationality triggers only if levy on foreign national

HC: Proceedings on ceased entity unsustainable, incurable u/s 292B; Follows Maruti Suzuki

HC: Abhisar Buildwell ratio no 'carte blanche' for Revenue to overcome statutory bar on reassessments

ITAT: Delay in filing appeal not attributable to taxpayer, intimation u/s143(1) received after 4036 days, delay condoned

HC: Employees not liable for deposit of TDS on employer’s failure, breach of Sec.205

HC: Remits issue, if forex loss on loan for acquiring assets within India not capital, de-hors Sec.43A

ITAT: Deletes addition u/s 158BC basis presumption of practice prevalent in industry, no concrete evidence

SC: Dismisses assessee's SLP in penny stock transaction case involving 'bogus' capital gains claim

ITAT: Income from sale of MEIS scrips not income u/s 2(24)(xviii) but non-taxable capital receipts

HC: No reward under Informants Reward Scheme, information already examined under assessment