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Rulings ( 12916 results )

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Income tax Appellate Tribunal

ITAT: Prior period expenditure allowable when crystallised; Revenue arbitrary in cherry picking CAG's comments

Mar 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2024(Mum)
  • Tax Payer : Maharastra State Electricity Distribution Co. Ltd
High Court

HC: Grants Genpact additional interest on refund; Rejects Revenue’s COVID-19 induced ‘equity’ plea

Mar 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-168-HC-2024(DEL)
  • Tax Payer : Genpact India Private Limited
High Court

HC: Upholds prosecution for non-filing ITR as trial underway, directs completion within 3 months

Mar 07, 2024
  • In Favour of Revenue
  • Citation Number : TS-167-HC-2024(MAD)
  • Tax Payer : Vinayagam Sabarisanthanakrishnan
Income tax Appellate Tribunal

ITAT: Sec.13(1)(b) invocable while examining exemption claim, not during Trust's registration process

Mar 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-166-ITAT-2024(Ahd)
  • Tax Payer : Jamiatul Banaat Tankaria
Income tax Appellate Tribunal

ITAT: Allows short-term capital loss & gain set off to foreign investor despite different tax-rates

Mar 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-165-ITAT-2024(Mum)
  • Tax Payer : JS Capital LLC
High Court

HC: Quashes reassessment proceedings, revived by Ashish Agarwal, for non-adherence of Sec.151 mandate

Mar 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-163-HC-2024(MAD)
  • Tax Payer : FIVES India Engineering & Projects Private Limited
Supreme Court

SC: Grants liberty to contest 'DDIT(Inv.) initiated' prosecution before Trial Court; Dismisses SLP

Mar 06, 2024
  • In Favour of Revenue
  • Citation Number : TS-161-SC-2024
  • Tax Payer : S.S.Hyderabad Biriyani Pvt. Ltd & Anr
Income tax Appellate Tribunal

ITAT: AY-specific violations relevant for cancellation of trust's registration; Explains Sec.12AB jurisdiction

Mar 06, 2024
  • In Favour of None/NA
  • Citation Number : TS-147-ITAT-2024(Bang)
  • Tax Payer : Islamic Academy of Education
Income tax Appellate Tribunal

ITAT: No Sec.194LBC-TDS on Excess Interest Spread paid to financial institution by Securitisation Trust

Mar 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-159-ITAT-2024(Mum)
  • Tax Payer : SME Pool Series V August 2016
Income tax Appellate Tribunal

ITAT: Rejects ‘deemed forfeiture’ of advances, involving demonetised notes, under Sec.56(2)(ix); Remands appeals

Mar 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2024(CHNY)
  • Tax Payer : Lakshmi Silvers
High Court

HC: CA turned stock-broker hit by Sec.14A for investment in Group Cos.; Follows Maxopp

Mar 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-156-HC-2024(BOM)
  • Tax Payer : Mahesh K. Mehta
High Court

HC: UK Co.'s income from background screening & investigation of potential employees not FTS

Mar 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-154-HC-2024(DEL)
  • Tax Payer : HireRight Ltd
Income tax Appellate Tribunal

ITAT: Rejects deemed dividend taxability, absent 'registered & beneficial shareholding'; Follows Ankitech judgment

Mar 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-143-ITAT-2024(CHNY)
  • Tax Payer : Mukunda Land Developers Pvt. Ltd
High Court

HC: Non-consideration of submissions is mistake apparent on record; Sets aside Tribunal’s order

Mar 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-153-HC-2024(BOM)
  • Tax Payer : Star India Pvt Ltd
High Court

HC: Rejection of books of account, with irregularities, prerequisite for best judgment assessment

Mar 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-152-HC-2024(DEL)
  • Tax Payer : Forum Sales Pvt. Ltd
High Court

HC: No TDS on business support services as FTS since 'make available' not satisfied

Mar 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-151-HC-2024(BOM)
  • Tax Payer : Shell India Markets Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs DRP to examine DAPE of US Co., not considered in prior years

Mar 02, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-148-ITAT-2024(DEL)
  • Tax Payer : Automation Anywhere Inc.
High Court

HC: Conducting agricultural operations no prerequisite to qualify for agricultural land exemption

Mar 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-131-HC-2024(BOM)
  • Tax Payer : Ashok Chaganlal Thakkar
High Court

HC: Quashes Sec.148 notice issued beyond 3 years over improper sanction; Follows Siemens Financial

Mar 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-132-HC-2024(BOM)
  • Tax Payer : Agnello Oswin Dias
High Court

HC: Revision invalid where issues enquired in assessment & no error/prejudice pointed by CIT

Mar 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-149-HC-2024(DEL)
  • Tax Payer : Clix Finance India Pvt. Ltd