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Rulings ( 13459 results )

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Income tax Appellate Tribunal

ITAT: Sec.153A jurisdiction for unabated assessment invalid, sans incriminating material & valid approval

Sep 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-636-ITAT-2024(RAI)
  • Tax Payer : N.R Ispat & Power Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Discontinuance of business not disclosed to Revenue not an omission but deliberate concealment

Sep 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-635-ITAT-2024(Ahd)
  • Tax Payer : Real Cargo Mumbai
Income tax Appellate Tribunal

ITAT: Pre-demonetisation cash sales cannot be deemed inflated sans rejection of books of accounts

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2024(DEL)
  • Tax Payer : Hari Om Retail Private Ltd
Income tax Appellate Tribunal

ITAT: Subsidy via VAT refund from Tamil Nadu Govt. towards Investment Promotion Subsidy ‘Capital receipt’.

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-622-ITAT-2024(CHNY)
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Upholds JN Tata endowment’s Sec.11 exemption on loan scholarship for overseas education

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-625-ITAT-2024(Mum)
  • Tax Payer : JN Tata Endowment for the Higher Education of Indians
Income tax Appellate Tribunal

ITAT: Bank’s income from securities held as stock-in-trade to be excluded for Sec.14A disallowances

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-629-ITAT-2024(CHNY)
  • Tax Payer : IDFC First Bank Limited
Income tax Appellate Tribunal

ITAT: Deemed dividend u/Sec.2(22)(e) not attracted in absence of 'actual' payment

Aug 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-633-ITAT-2024(Bang)
  • Tax Payer : Sri Haris Kalandan Mohammed
Foreign Court

FC: French Supreme Court holds Foreign Tax Credit granted by Resident State independent of the quantum of tax paid

Aug 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-628-FC-2024(FRN)
  • Tax Payer : Somfy
Income tax Appellate Tribunal

ITAT: Software sale receipts & provision of ancillary services not FTS sans ‘make available’ fulfillment

Aug 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2024(Bang)
  • Tax Payer : Q2 Software Inc
High Court

HC: Quashes reassessment sans key ingredient for invocation of Sec.147 r.w. Sec.148; Follows Hindustan Lever

Aug 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-627-HC-2024(BOM)
  • Tax Payer : The Saraswat Co-operative Bank Limited
High Court

HC: Grants anticipatory bail regarding prosecution under BMA for non-disclosure of foreign undisclosed assets in ITR

Aug 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-626-HC-2024(MP)
  • Tax Payer : Sanjay Vijay Shinde
High Court

HC: HC: Delhi HC overturns AAR in Tiger Global-Flipkart case; Mauritius TRC sacrosanct sans fraud/sham transaction

Aug 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-624-HC-2024(DEL)
  • Tax Payer : TIGER GLOBAL INTERNATIONAL III HOLDINGS
High Court

HC: Tax liability attained finality under VsV, cannot be altered by Revenue by invoking rectification action

Aug 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-623-HC-2024(DEL)
  • Tax Payer : Satish Kumar Dhingra
High Court

HC: Upholds Sec.127 transfer order as clubbing of assessment with related parties was eminently desirable

Aug 27, 2024
  • In Favour of Revenue
  • Citation Number : TS-621-HC-2024(BOM)
  • Tax Payer : Rajiv Saxena
Income tax Appellate Tribunal

ITAT: BMA not applicable as source & genuineness of funds, investments stands substantiated

Aug 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-620-ITAT-2024(Kol)
  • Tax Payer : Akhilesh Singh
Income tax Appellate Tribunal

ITAT: Grants stay to Indian Hotels as refund due constitutes 20% of the outstanding demand

Aug 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-619-ITAT-2024(Mum)
  • Tax Payer : The Indian Hotels Company Limited
Income tax Appellate Tribunal

ITAT: Principle of consistency to be followed, rental income considered as income from house property

Aug 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-617-ITAT-2024(Kol)
  • Tax Payer : EMC Projects Pvt. Limited
Income tax Appellate Tribunal

ITAT: Allows simultaneous deduction u/Sec.54 & 54F, no bar in law for deduction on same asset

Aug 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-618-ITAT-2024(PUN)
  • Tax Payer : Ramdas Sitaram Patil
High Court

HC: Re-iterates re-assessment ingredients, rejects Revenue's 'reformulation' of Sec. 147; Discusses stock market client-code modification

Aug 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-616-HC-2024(BOM)
  • Tax Payer : Aashish Niranjan Shah
Income tax Appellate Tribunal

ITAT: Interest u/Sec.234B & 234C not leviable on payee for failure to deduct TDS by payer

Aug 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-615-ITAT-2024(Mum)
  • Tax Payer : Standard Chartered Bank (Singapore) Limited