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Income tax Appellate Tribunal
ITAT: NCD-redemption premium taxable under Other Sources as interest, not Capital Gains
May 02, 2024
- In Favour of Assessee
- Citation Number : TS-293-ITAT-2024(Mum)
- Tax Payer : Khushaal C. Thackersey
Income tax Appellate Tribunal
ITAT: TDS-default penalty time barred; Limitation reckonable from reference date, not SCN
May 02, 2024
- In Favour of Both, Partially
- Citation Number : TS-292-ITAT-2024(DEL)
- Tax Payer : Turner General Entertainment Networks India Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Consultancy fee not taxable sans proof of presence of PE / fixed base in India
May 02, 2024
- In Favour of Assessee
- Citation Number : TS-289-ITAT-2024(Mum)
- Tax Payer : Arun Rangachari
Income tax Appellate Tribunal
ITAT: Sec.11 exemption allowable despite belated return, follows CBDT Circulars
Apr 30, 2024
- In Favour of Assessee
- Citation Number : TS-287-ITAT-2024(SUR)
- Tax Payer : Sant Shri Asharamji Gurukul
High Court
HC: Quashes Foreign Co.'s reassessment proceedings over investment in Indian subsidiary; Follows Angelantoni judgment
Apr 30, 2024
- In Favour of Assessee
- Citation Number : TS-286-HC-2024(DEL)
- Tax Payer : Telenor South Asia Investment Pte Ltd
High Court
HC: Reassessment basis DRI information & Shah Commission Report unsustainable sans independent application of mind
Apr 30, 2024
- In Favour of Assessee
- Citation Number : TS-285-HC-2024(BOM)
- Tax Payer : Balaji Mines And Minerals Pvt. Ltd
High Court
HC: Sec.148 not invocable to collect third party’s evidence; Quashes post-CIRP notice
Apr 29, 2024
- In Favour of Assessee
- Citation Number : TS-284-HC-2024(BOM)
- Tax Payer : Patanjali Foods Ltd. (formerly known as Ruchi Soya Industries Ltd.)
High Court
HC: Upholds ‘round tripping’ of funds basis preponderance of probability, investors’ lacking genuineness & creditworthiness
Apr 29, 2024
- In Favour of Revenue
- Citation Number : TS-277-HC-2024(CAL)
- Tax Payer : BST Infratech Limited
High Court
HC: Benami Act proceedings initiated basis uncorroborated statement, non-est & void
Apr 29, 2024
- In Favour of Assessee
- Citation Number : TS-280-HC-2024(ALL)
- Tax Payer : Meera Pandey
Income tax Appellate Tribunal
ITAT: Land acquisition compensation under State Acts taxable; Rejects ‘Sec.96 RFCTLARR Act’ exemption plea
Apr 27, 2024
- In Favour of Assessee
- Citation Number : TS-282-ITAT-2024(CHNY)
- Tax Payer : Mathaiyan Saravanakumar
Income tax Appellate Tribunal
ITAT: Higher depreciation allowable on leasing machinery since accepted as mode of business
Apr 27, 2024
- In Favour of Assessee
- Citation Number : TS-281-ITAT-2024(DEL)
- Tax Payer : Quippo Energy (P) Ltd
High Court
HC: Condones 1257 days delay in Form 10B filing due to professional’s oversight & inadvertent error
Apr 27, 2024
- In Favour of Assessee
- Citation Number : TS-278-HC-2024(BOM)
- Tax Payer : Al Jamia Mohammediyah Education Society
Income tax Appellate Tribunal
ITAT: Unrecorded asset prerequisite for Sec. 69 trigger; Sec. 69B addition unjustified sans expenditure proof
Apr 27, 2024
- In Favour of Assessee
- Citation Number : TS-272-ITAT-2024(Mum)
- Tax Payer : Abalabba Developers Pvt. Ltd
High Court
HC: Absence of Sec. 9(1)(vii) conditions, routine business expenditure reimbursement not FTS
Apr 27, 2024
- In Favour of Assessee
- Citation Number : TS-271-HC-2024(DEL)
- Tax Payer : Jas Forwarding Pvt. Ltd
Foreign Court
FC: Dutch Court holds MAP-based treaty interpretation not invocable against taxpayer’s interest
Apr 26, 2024
- In Favour of Assessee
- Citation Number : TS-837-FC-2023(NETH)
- Tax Payer : Anonymous
Income tax Appellate Tribunal
ITAT: Returns post-Sec.153A notices deemed as returns under Sec.139(1), fresh claims permissible
Apr 26, 2024
- In Favour of Assessee
- Citation Number : TS-279-ITAT-2024(Mum)
- Tax Payer : Patanjali Foods Ltd (Formerly known as Ruchi Soya Industries Ltd)
Income tax Appellate Tribunal
ITAT: Remits profit attribution of income to PE from composite contract, rejects ad hoc addition
Apr 25, 2024
- In Favour of Both, Partially
- Citation Number : TS-275-ITAT-2024(DEL)
- Tax Payer : J.M. Voith SE & Co. KG (Earlier Voith Paper GmbH & Co. KG)
Supreme Court
SC: Dismisses software taxation review petition of Revenue, cites both delay & merits
Apr 24, 2024
- In Favour of Assessee
- Citation Number : TS-276-SC-2024
- Tax Payer : GE India Technology Centre Private Limited Etc
High Court
HC: Absent mens rea, upholds acquittal against prosecution for delayed ITR-filing
Apr 24, 2024
- In Favour of Assessee
- Citation Number : TS-274-HC-2024(RAJ)
- Tax Payer : Rajendra Prasad Vaish
Income tax Appellate Tribunal
ITAT: Tax on notional rent for stock-in-trade prospective; Allows vacancy allowance
Apr 22, 2024
- In Favour of Assessee
- Citation Number : TS-270-ITAT-2024(Mum)
- Tax Payer : Mack Star Marketing Private Limited