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Rulings ( 15415 results )

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Income tax Appellate Tribunal

ITAT: Expenditure in foreign currency for technical services outside India, not part of ‘export turnover’ u/Sec.10AA

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • In Favour of Assessee
  • Citation Number : TS-583-HC-2024(DEL)
  • Tax Payer : Tosca Master
High Court

HC: HC: Compensation for ESOP value diminution a perquisite; Distinguishes Delhi HC

  • 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

  • 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)

  • 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

  • In Favour of Revenue
  • Citation Number : TS-565-ITAT-2024(Bang)
  • Tax Payer : ABS Fujitsu General Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271(1)(c) as revised income accepted during assessment; Relies on Pushpendra Surana

  • In Favour of Assessee
  • Citation Number : TS-573-ITAT-2024(JPR)
  • Tax Payer : Ajoy Sharma
Supreme Court

SC: Copy of SC order dismissing MFN review petitions

  • In Favour of Revenue
  • Citation Number : TS-581-SC-2024
  • Tax Payer : Nestle SA
Income tax Appellate Tribunal

ITAT: Professional services receipt by EY US not FIS sans fulfilment of ‘make available’ criteria

  • In Favour of Assessee
  • Citation Number : TS-580-ITAT-2024(DEL)
  • Tax Payer : Ernst And Young U.S. LLP
Income tax Appellate Tribunal

ITAT: Third Member concurs with JM, search on directors cannot be construed as valid search on company

  • In Favour of Assessee
  • Citation Number : TS-578-ITAT-2024(Bang)
  • Tax Payer : Blueline Foods (India) Pvt. Ltd
Foreign Court

FC: Australia Full Court rules that Embedded Intellectual Property not taxable as 'Royalty'

  • In Favour of Assessee
  • Citation Number : TS-575-FC-2024(AUS)
  • Tax Payer : PepsiCo, Inc and Stokely-Van Camp, Inc