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Rulings ( 13460 results )
High Court
HC: E-auction bid amount does not constitute Assessee’s income, erroneous view, quashes reassessment
Aug 19, 2024
- In Favour of Assessee
- Citation Number : TS-596-HC-2024(DEL)
- Tax Payer : Vedanta Limited
Income tax Appellate Tribunal
ITAT: Interest income ‘attributable’ to carrying on ‘cottage business’, allowable as Sec.80P(2) deduction
Aug 17, 2024
- In Favour of Assessee
- Citation Number : TS-591-ITAT-2024(CHNY)
- Tax Payer : Potheri Village Weaning Food
High Court
HC: Objections to issuance of notice u/Sec.148 invalid in accordance with Sec.292BB
Aug 17, 2024
- In Favour of Revenue
- Citation Number : TS-595-HC-2024(MAD)
- Tax Payer : K P S Enterprises a partnership firm
Income tax Appellate Tribunal
ITAT: Advertisement expenses claimed by Hospital violates Indian Medical Council Regulations, 2002
Aug 17, 2024
- In Favour of Revenue
- Citation Number : TS-587-ITAT-2024(VIZ)
- Tax Payer : Chalasani Hospitals (P.) Ltd
Income tax Appellate Tribunal
ITAT: Professional fees paid by KPMG to independent consultant not FTS or business income sans PE
Aug 17, 2024
- In Favour of Assessee
- Citation Number : TS-594-ITAT-2024(Mum)
- Tax Payer : KPMG Assurance and Consulting Services LLP
Income tax Appellate Tribunal
ITAT: Expenditure in foreign currency for technical services outside India, not part of ‘export turnover’ u/Sec.10AA
Aug 17, 2024
- In Favour of Assessee
- Citation Number : TS-592-ITAT-2024(Bang)
- Tax Payer : IBM Global Services India Private Ltd.
Foreign Court
FC: France Supreme Court holds Income Classification under Treaty Guided by Substance of Transaction vis-à-vis Form
Aug 16, 2024
- In Favour of Revenue
- Citation Number : TS-843-FC-2023(FRN)
- Tax Payer : BNP Paribas (SA)
High Court
HC: Failure to digitally upload the Audit Report with return, not destructive; Quashes reassessment
Aug 16, 2024
- In Favour of Assessee
- Citation Number : TS-593-HC-2024(DEL)
- Tax Payer : Shree Bhavani Power Projects Pvt. Ltd
High Court
HC: Invokes ‘notional’ income theory to resolve ESOP taxation controversy in assessee’s favour
Aug 14, 2024
- In Favour of Assessee
- Citation Number : TS-590-HC-2024(DEL)
- Tax Payer : Ravi Kumar Sinha
High Court
HC: Assessment notices issued pursuant to ITAT’s remit order time barred u/Sec.153(3); Quashes notice
Aug 14, 2024
- In Favour of Assessee
- Citation Number : TS-589-HC-2024(DEL)
- Tax Payer : Ramesh Chawla (HUF)
High Court
HC: Bombay HC tells Revenue - Let SC decide Shelf Drilling controversy
Aug 14, 2024
- In Favour of Assessee
- Citation Number : TS-588-HC-2024(BOM)
- Tax Payer : PayPal Payments
High Court
HC: Eligible for VsV benefit, despite reclassification as no MSME, clause 8(5) of Notification specifying eligibility
Aug 14, 2024
- In Favour of Assessee
- Citation Number : TS-586-HC-2024(BOM)
- Tax Payer : Marine Electricals India Ltd
High Court
HC: Faceless assessment procedure mandatory for all Assessees, including NRI; Quashes assessment proceedings
Aug 14, 2024
- In Favour of Assessee
- Citation Number : TS-557-HC-2024(TEL)
- Tax Payer : Venkataramana Reddy Patloola
High Court
HC: Interest receipts from NCDs of Indian AE not subject to DDT; Quashes reassessment proceedings
Aug 13, 2024
- In Favour of Assessee
- Citation Number : TS-585-HC-2024(DEL)
- Tax Payer : Genpact Luxembourg S.A.R.L.
High Court
HC: No interference required as Settlement Commission order well reasoned with objective of settlement
Aug 13, 2024
- In Favour of Assessee
- Citation Number : TS-584-HC-2024(KAR)
- Tax Payer : Umah Agarwal
High Court
HC: Shares subscribed from inward remittances is ‘Capital Account Transaction’, no income accrued in India
Aug 13, 2024
- In Favour of Assessee
- Citation Number : TS-583-HC-2024(DEL)
- Tax Payer : Tosca Master
High Court
HC: Compensation for ESOP value diminution a perquisite; Distinguishes Delhi HC
Aug 12, 2024
- In Favour of Assessee
- Citation Number : TS-582-HC-2024(MAD)
- Tax Payer : Nishithkumar Mukeshkumar Mehta
Income tax Appellate Tribunal
ITAT: Disallowance u/Sec.14A cannot exceed exempt income, partly allows Assessee's appeal
Aug 10, 2024
- In Favour of Assessee
- Citation Number : TS-579-ITAT-2024(Mum)
- Tax Payer : Morgan Stanley India Company Ltd
Income tax Appellate Tribunal
ITAT: Revenue not entitled to change share valuation method adopted by Assessee; Deletes addition u/s56(2)(viib)
Aug 10, 2024
- In Favour of Assessee
- Citation Number : TS-570-ITAT-2024(Bang)
- Tax Payer : Pisces EServices Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Refuses to condone 359 days delay, lacked sufficient cause, Assessee acted negligently
Aug 10, 2024
- In Favour of Revenue
- Citation Number : TS-565-ITAT-2024(Bang)
- Tax Payer : ABS Fujitsu General Pvt. Ltd