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Rulings ( 13459 results )

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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
Supreme Court

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

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-723-SC-2024
  • Tax Payer : GBL Power Limited
Income tax Appellate Tribunal

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

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-722-ITAT-2024(Mum)
  • Tax Payer : Bennett Coleman & Co Ltd
Income tax Appellate Tribunal

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

Sep 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-721-ITAT-2024(Ahd)
  • Tax Payer : Montecarlo Construction Ltd
Supreme Court

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

Sep 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-720-SC-2024
  • Tax Payer : Sunil Bakht
Income tax Appellate Tribunal

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

Sep 28, 2024
  • In Favour of Revenue
  • Citation Number : TS-716-ITAT-2024(Mum)
  • Tax Payer : Hazaribagh Ranchi Expressway Ltd
High Court

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

Sep 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-708-HC-2024(CHAT)
  • Tax Payer : Shaheed Nand Kumar Patel Vishwavidyalaya