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Rulings ( 13226 results )

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Supreme Court

SC: Revenue challenges HC judgment on share transaction genuineness, questions " banking channel" observations

Sep 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-686-SC-2024
  • Tax Payer : PNC Infratech Ltd
Supreme Court

SC: Issues notice on secondment issue as Revenue challenges Kar. HC judgment

Sep 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-685-SC-2024
  • Tax Payer : Abbey Business Services (India) P. Ltd
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Cash with different individual held in fiduciary capacity falls u/Sec.2(9)(A)(ii) of Benami Act

Sep 16, 2024
  • In Favour of Revenue
  • Citation Number : TS-676-PBPTAT-2024(DEL)
  • Tax Payer : Jiten Pujari & Ors
Income tax Appellate Tribunal

ITAT: MAT provisions apply to Assessee undergoing voluntary liquidation sans specific exemption u/Sec.115JB

Sep 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-684-ITAT-2024(Kol)
  • Tax Payer : Industrial Investment Bank of India Limited
Income tax Appellate Tribunal

ITAT: Quashes revision on prior period depreciation due to re-classification of assets sans pecuniary loss to Revenue

Sep 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-681-ITAT-2024(Ahd)
  • Tax Payer : Sabarmati Gas Ltd
Income tax Appellate Tribunal

ITAT: Rules on issues of disallowance of provision of bad & doubtful debts, prepaid finance charges etc.

Sep 14, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-669-ITAT-2024(CHNY)
  • Tax Payer : Cholamandalam Investment & Finance Company Ltd
Income tax Appellate Tribunal

ITAT: US Broadcasting company's TV Channel distribution revenue, not 'royalty', business income as per MAP

Sep 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-670-ITAT-2024(DEL)
  • Tax Payer : Turner Broadcasting System Asia Pacific Inc
Income tax Appellate Tribunal

ITAT: Non consideration of Jurisdictional Court ruling, 'mistake apparent from record'; Rectifiable u/s154

Sep 14, 2024
  • In Favour of Revenue
  • Citation Number : TS-683-ITAT-2024(CHNY)
  • Tax Payer : Madras Gymkhana Club
Income tax Appellate Tribunal

ITAT: Appeal filed by ex-director of struck-off company, not maintainable sans ‘locus standi’

Sep 14, 2024
  • In Favour of Revenue
  • Citation Number : TS-682-ITAT-2024(DEL)
  • Tax Payer : Boopendradas (Vikash) Sungker
Supreme Court

SC: Dismisses Revenue SLP in re-assessment case, cites inordinate delay

Sep 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-680-SC-2024
  • Tax Payer : Aim Fincon Pvt. Ltd
Supreme Court

SC: Dismisses Revenue SLP in re-assessment case involving PCIT's non-application of mind

Sep 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-679-SC-2024
  • Tax Payer : TIA Enterprises Pvt. Ltd
Supreme Court

SC: Dismisses Revenue's SLP on taxability of licensing of Microsoft software

Sep 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-678-SC-2024
  • Tax Payer : Gracemac Corporation Golf View Corporate
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Property held in struck off company's name, 'benami transaction'; Allows dept appeal

Sep 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-677-PBPTAT-2024(DEL)
  • Tax Payer : Seasons Warehousing Pvt. Ltd. & Anr
Foreign Court

FC: Kenya Court rules on taxability of professional income as business profits absent FTS clause in treaty

Sep 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-674-FC-2024(KEN)
  • Tax Payer : Total Kenya Limited
High Court

HC: Principal income character not changed, Sec.80P(2) benefit available on interest earned on deposits

Sep 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-673-HC-2024(KER)
  • Tax Payer : Sahyadri Co-operative Credit Society Ltd
High Court

HC: Quashes reassessment, SC judgment in Ashish Agarwal doesn't mandate re-opening of completed assessments

Sep 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-672-HC-2024(DEL)
  • Tax Payer : Satish Chand Jain
Income tax Appellate Tribunal

ITAT: No violation of provisions by Tata Trust, Sec.11 exemption cannot be denied on dividend income

Sep 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-671-ITAT-2024(Mum)
  • Tax Payer : Sir Ratan Tata Trust
Income tax Appellate Tribunal

ITAT: LLC a taxable entity under US tax laws, eligible for Indo-US treaty benefits

Sep 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-659-ITAT-2024(DEL)
  • Tax Payer : General Motors Company USA
Supreme Court

SC: Deletes cost on Revenue, reassessment on erroneous information causing harassment to Assessee

Sep 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-667-SC-2024
  • Tax Payer : S R Cold Storage
High Court

HC: Judicial conscience 'pricked', Bombay HC adopts different approach to Hexaware like re-assessment cases

Sep 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-668-HC-2024(BOM)
  • Tax Payer : JD Printers Pvt. Ltd