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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: ‘Consideration’ wider than 'receipt of money'; Holds conversion of CCDs into equity shares covered under Sec. 56(2)(viib)

  • In Favour of Assessee
  • Citation Number : TS-525-ITAT-2022(Kol)
  • Tax Payer : Milk Mantra Dairy Pvt. Ltd
High Court

HC: Bottles & Crates used by Parle in distribution of soft drinks depreciable as 'Plant'

  • In Favour of Assessee
  • Citation Number : TS-524-HC-2022(BOM)
  • Tax Payer : Parle Bisleri Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Disallows set-off of losses to Cummins despite HC’s approval to demerger since sole underlying purpose was tax-benefit

  • In Favour of Revenue
  • Citation Number : TS-523-ITAT-2022(PUN)
  • Tax Payer : Cummins Sales & Services (I) Ltd. (Formerly known as Cummins Diesels Sales & Services Ltd.)
Income tax Appellate Tribunal

ITAT: Rules on TDS liability and PE status of Indian Insurance Broker facilitating premium for Indian Cedant to non-resident reinsurers via Singapore-based Broker

  • In Favour of Assessee
  • Citation Number : TS-522-ITAT-2022(Mum)
  • Tax Payer : International Reinsurance and Insurance Consultancy & Broking Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Lease equalisation charges basis AS-19, allowable; Logo development expenses for contract terminated midway, deductible

  • In Favour of Assessee
  • Citation Number : TS-520-ITAT-2022(DEL)
  • Tax Payer : Claridge Hotels Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Compensatory fine paid for redeeming goods, allowable under Sec.37(1) but not the penalty

  • In Favour of Assessee
  • Citation Number : TS-514-ITAT-2022(DEL)
  • Tax Payer : Akshay Khetterpal
Income tax Appellate Tribunal

ITAT: Sec.69A addition on Revenue’s mere disbelief of explanation offered, not sustainable

  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2022(PUN)
  • Tax Payer : Maruti Nivrutti Navale
Income tax Appellate Tribunal

ITAT: Share transfer taxable in India where Assessee's residential status not in dispute

  • In Favour of Revenue
  • Citation Number : TS-504-ITAT-2022(Bang)
  • Tax Payer : Prabhukumar Aiyappa Kullatira
Income tax Appellate Tribunal

ITAT: Non-service of notice on Assessee in judicial custody renders the revisionary order invalid

  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2022(CTK)
  • Tax Payer : Narayan Kumar Khaitan
Income tax Appellate Tribunal

ITAT: Delay of over 500 days in challenging revisionary order not condonable; Ignorance of law no excuse for educated Assessee

  • In Favour of Revenue
  • Citation Number : TS-518-ITAT-2022(CHNY)
  • Tax Payer : Preeti Madhok
Income tax Appellate Tribunal

ITAT: Inadvertent technical fault in challan cannot debar Assessee from claiming DDT credit

  • In Favour of Assessee
  • Citation Number : TS-516-ITAT-2022(Ahd)
  • Tax Payer : Strategic Infosystems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty on Linklaters where full disclosure was made despite adverse order on merits

  • In Favour of Assessee
  • Citation Number : TS-515-ITAT-2022(Mum)
  • Tax Payer : Linklaters
Income tax Appellate Tribunal

ITAT: Hearing on demand clause in Faceless Appeal Scheme, 2021 applicable retrospectively, since beneficial

  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2022(Mum)
  • Tax Payer : Bank of India
Income tax Appellate Tribunal

ITAT: ITAT: Allows purchase price of shares under Group ESOP Plan as revenue expenditure to Morgan Stanley

  • In Favour of Assessee
  • Citation Number : TS-511-ITAT-2022(Mum)
  • Tax Payer : Morgan Stanley Advantage Services Pvt. Ltd
Foreign Court

FC: Danish Tax Council holds German company’s employee's home-office in Denmark constitutes PE

  • In Favour of Revenue
  • Citation Number : TS-510-FC-2022(DEN)
  • Tax Payer : Sporger
Income tax Appellate Tribunal

ITAT: Depreciation on goodwill arising from acquisition in slump-sale allowable since tax-reduction not underlying purpose

  • In Favour of Assessee
  • Citation Number : TS-509-ITAT-2022(Bang)
  • Tax Payer : I&B Seeds Private Limited
Income tax Appellate Tribunal

ITAT: Holds Rs.241 Cr from offshore supply for installation & commission of oil platforms not attributable to PE; Rejects taxability under Sec.44BB

  • In Favour of Assessee
  • Citation Number : TS-507-ITAT-2022(Mum)
  • Tax Payer : Clough Projects International Pty. Ltd
Income tax Appellate Tribunal

ITAT: Lower tax-rate basis non-discrimination clause not allowable due to Expl.1 to Sec.90(1); Foreign Co. & its PE, distinct for profit computation

  • In Favour of Both, Partially
  • Citation Number : TS-508-ITAT-2022(Mum)
  • Tax Payer : Shinhan Bank
Income tax Appellate Tribunal

ITAT: Upholds DCF share-valuation backed by industry PE ratio; Sets aside revisionary order

  • In Favour of Assessee
  • Citation Number : TS-506-ITAT-2022(Mum)
  • Tax Payer : Learning Curve Edutech Solutions Pvt. Ltd
High Court

HC: IBC cannot dilute Revenue's rights; Upholds reassessment initiated after approaching NCLT but before approval of CIRP

  • In Favour of Revenue
  • Citation Number : TS-505-HC-2022(MAD)
  • Tax Payer : Dishnet Wireless Limited