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Rulings ( 13453 results )

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Income tax Appellate Tribunal

ITAT: Disallowance u/s 40(a)(ia) unwarranted, no liability for TDS u/s 194C, taxpayer not sub-contractor

Dec 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-922-ITAT-2024(Mum)
  • Tax Payer : Partho Das
High Court

HC: Affirms ITAT ruling holding no PE for Western Union Financial Services;

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-920-HC-2024(DEL)
  • Tax Payer : Western Union Financial Services Inc.
Income tax Appellate Tribunal

ITAT: Upholds invocation of Sec. 263, claim of depreciation on goodwill not examined by AO

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-919-ITAT-2024(Mum)
  • Tax Payer : Orion India Systems Private Limited
Income tax Appellate Tribunal

ITAT: Disallowance of interest u/s 36(1)(iii) unsustainable, commercial expediency to be examined

Dec 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-918-ITAT-2024(Mum)
  • Tax Payer : Sachin Chandru Mirani
Income tax Appellate Tribunal

ITAT: Quashes reassessment sans specific allegations by Revenue, rejects Assessee's contention on VSV 2020 Scheme

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-917-ITAT-2024(Bang)
  • Tax Payer : Eurofins Peenya Resources Private Limited
Income tax Appellate Tribunal

ITAT: Allows depreciation on assets transferred under merger; Revenue cannot challenge scheme at implementation

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-916-ITAT-2024(DEL)
  • Tax Payer : Indus Towers Ltd (formerly known as Bharti Infratel Ltd)
Income tax Appellate Tribunal

ITAT: Allows deduction u/s 80-IA, no electronic filing required in AY 2010-11, Form 10CCB filed during reassessment

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-914-ITAT-2024(RAN)
  • Tax Payer : Jamshedpur Utilities and Services Company Limited
Income tax Appellate Tribunal

ITAT: No addition can be made for issues not forming part of reasons recorded for reassessment; Relies on Jet Airways

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-905-ITAT-2024(Mum)
  • Tax Payer : Magnetic Properties Exim Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Grants Sec. 80IA(4) benefit to sub-contractor for civil construction project, financial & entrepreneurial risks borne by Developer

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-893-ITAT-2024(HYD)
  • Tax Payer : Prathima Infrastructure Limited
Income tax Appellate Tribunal

ITAT: Allows deduction u/s 80P on dividend received from investment in co-operative bank; Follows Mavilayi Service

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-912-ITAT-2024(DEL)
  • Tax Payer : Muzaffarnagar District Cooperative Bank Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty for delayed tax audit report submission, Assessee unaware about tax audit due date

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-891-ITAT-2024(Bang)
  • Tax Payer : Sri Chinnayellappa Chandrashekar
Income tax Appellate Tribunal

ITAT: No TDS liability u/s 193/194A on acquisition of 'right to receive' sans borrower-lender relationship

Dec 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-892-ITAT-2024(Mum)
  • Tax Payer : Piramal Capital And Housing Finance Limited
High Court

HC: Directs CBDT to apply VsV Scheme, 2024 to taxpayers where due date of filing of appeal has not expired

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-913-HC-2024(DEL)
  • Tax Payer : NAVEEN KUMAR AGGARWAL
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s43 of BMA, foreign asset disclosed; Bonafide actions excluded from applying stringent legislation

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-911-ITAT-2024(Mum)
  • Tax Payer : Chintan Sanjay Shah
Income tax Appellate Tribunal

ITAT: Disallowance of STCL due to lower sale value, unjustified, absent cogent evidence

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-910-ITAT-2024(Mum)
  • Tax Payer : Shivang Arjun Desai
Income tax Appellate Tribunal

ITAT: Disallowance of set-off of STCL against LTCG unwarranteed, transaction not colourable device

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-906-ITAT-2024(Mum)
  • Tax Payer : Ranu Vohra
Income tax Appellate Tribunal

ITAT: Compensation received is capital receipt not taxable u/s 28(ii)(b), taxpayer not a managing agency

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-909-ITAT-2024(DEL)
  • Tax Payer : Modi Entertainment Ltd
Income tax Appellate Tribunal

ITAT: Assessee not required to prove source of the source to be exonerated from Sec.68 liability

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-908-ITAT-2024(Mum)
  • Tax Payer : Gauranga Papers LLP
Income tax Appellate Tribunal

ITAT: Remits matter, AO to consider taxpayer’s plea on taxes paid by VCF & exclusion of income u/s 115U

Dec 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-907-ITAT-2024(CHNY)
  • Tax Payer : IDFC Limited
Income tax Appellate Tribunal

ITAT: Gains from crypto sale prior to April 1, 2022 taxable as capital-gains, eligible for exemption u/s 54F

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-902-ITAT-2024(JODH)
  • Tax Payer : Raunaq Prakash Jain