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Rulings ( 15447 results )

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Income tax Appellate Tribunal

ITAT: Upholds Sec.263 revision despite DRP directions; Follows Adamas Builders over Barclays Bank ruling

  • In Favour of Revenue
  • Citation Number : TS-706-ITAT-2022(Bang)
  • Tax Payer : Brocade Communications Systems Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Addition based merely on loose paper without incriminating evidence, not sustainable

  • In Favour of Assessee
  • Citation Number : TS-710-ITAT-2022(SUR)
  • Tax Payer : Gordhanbhai L. Talavia
Income tax Appellate Tribunal

ITAT: Amended Sec.269SS prospective in nature, does not cover receipt of advance in cash; Deletes Sec.271D penalty

  • In Favour of Assessee
  • Citation Number : TS-702-ITAT-2022(DEL)
  • Tax Payer : Ruhil Developers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Share premium received through banking channel cannot be considered unexplained under Sec.68 where Assessee discharged onus

  • In Favour of Assessee
  • Citation Number : TS-703-ITAT-2022(Mum)
  • Tax Payer : Sejima Texyarn Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes disallowance under Section 40A(3) for cash payment in buying agricultural land under compelling circumstances

  • In Favour of Assessee
  • Citation Number : TS-712-ITAT-2022(DEL)
  • Tax Payer : Geo Connect Ltd.
High Court

HC: Directs Revenue to issue supplementary SCN to MDH with underlying information in reassessment proceedings

  • In Favour of Assessee
  • Citation Number : TS-705-HC-2022(DEL)
  • Tax Payer : Mahashian Di Hatti Pvt. Limited
High Court

HC: No 'deemed' registration under Sec.12AA on expiry of 6 months; Follows SC ruling in Harshit Foundation

  • In Favour of Revenue
  • Citation Number : TS-690-HC-2022(ALL)
  • Tax Payer : Raghuraji Devi Foundation Trust
Supreme Court

SC: Remands Infosys case on ‘royalty’ characterisation, permits Engineering Analysis reliance; Ratio inapplicable, argues Revenue

  • In Favour of Assessee
  • Citation Number : TS-711-SC-2022
  • Tax Payer : Infosys Technologies Ltd.ETC
Supreme Court

SC: Dismisses SLP against denial of writ on rejection of Assessee's objections to reassessment proceedings

  • In Favour of Revenue
  • Citation Number : TS-708-SC-2022
  • Tax Payer : Anshul Jain
Income tax Appellate Tribunal

ITAT: Service tax not includible in Cathay Pacific's gross receipts for presumptive taxation under Sec.44BBA

  • In Favour of Assessee
  • Citation Number : TS-707-ITAT-2022(Kol)
  • Tax Payer : Cathay Pacific airways Limited
High Court

HC: Disallowance for TDS default not sustainable for sum neither claimed in computing Business Income, nor debited to P&L Account

  • In Favour of Assessee
  • Citation Number : TS-701-HC-2022(CAL)
  • Tax Payer : Linde India Ltd
Income tax Appellate Tribunal

ITAT: Accepts net assets-based valuation for shares acquired prior to Apr’81; Rejects Revenue’s plea of ‘face value’ as fallacious

  • In Favour of Assessee
  • Citation Number : TS-700-ITAT-2022(Mum)
  • Tax Payer : Sushiladevi R Somani
Income tax Appellate Tribunal

ITAT: Dutch entity not liable to TDS on interest on tax-refund; Invokes MFN Clause to extend benefit under India-Italy DTAA

  • In Favour of Assessee
  • Citation Number : TS-699-ITAT-2022(Kol)
  • Tax Payer : Koninklijke Philips N.V
High Court

HC: Upholds reassessment proceedings for AY 2013-14 conducted through two SCNs over accommodation entry

  • In Favour of Revenue
  • Citation Number : TS-697-HC-2022(DEL)
  • Tax Payer : Saroj Chandna
Income tax Appellate Tribunal

ITAT: Directs CPC to give TDS credit claimed through rectification application; Holds revised return not necessary

  • In Favour of Assessee
  • Citation Number : TS-679-ITAT-2022(DEL)
  • Tax Payer : Heidrick and Struggles Inc.
Income tax Appellate Tribunal

ITAT: Denies registration of Trust for exemption, engaged in providing housing credit from borrowed funds

  • In Favour of Revenue
  • Citation Number : TS-696-ITAT-2022(CHNY)
  • Tax Payer : Dhan Housing and Habitat Development of Poor for Empowerment Confederation
Income tax Appellate Tribunal

ITAT: Revision not justifiable over difference of opinion; PCIT required to check appeal status before exercising revisionary powers

  • In Favour of Assessee
  • Citation Number : TS-687-ITAT-2022(Ahd)
  • Tax Payer : Greenwell Orchards
Income tax Appellate Tribunal

ITAT: Quashes revision of BYJU's assessment, exercised over addition already made and pending before CIT(A)

  • In Favour of Assessee
  • Citation Number : TS-683-ITAT-2022(Bang)
  • Tax Payer : Think and Learn Private Limited
Income tax Appellate Tribunal

ITAT: Deletes Rs. 224 Cr interest disallowance for Lodha Developers, remits issue of allowability of political donations for verification

  • In Favour of Both, Partially
  • Citation Number : TS-694-ITAT-2022(Mum)
  • Tax Payer : Lodha Developers Ltd.
High Court

HC: Grants interest at 5% on refund delayed beyond 90 days, determined under VsV Act

  • In Favour of Assessee
  • Citation Number : TS-691-HC-2022(DEL)
  • Tax Payer : Anjul