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Rulings ( 15452 results )

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High Court

HC: Public holiday & weekend for replying to Sec.148A(a) notice, not 'meaningful opportunity'; Sets aside Sec.148A(d) order

  • In Favour of Assessee
  • Citation Number : TS-396-HC-2022(CAL)
  • Tax Payer : R N Fashion
Income tax Appellate Tribunal

ITAT: Imposes Rs.25,000 cost on Assessee for ‘lackadaisical & non-cooperative attitude’ in assessment proceedings while restoring matter for rehearing

  • In Favour of None/NA
  • Citation Number : TS-395-ITAT-2022(DEL)
  • Tax Payer : Vavasi Telegence P. Ltd
High Court

HC: Holds Sec.148 notice for AY 2014-15 with less than Rs.50 Lacs escaped income as time-barred under new regime; Quashes reassessment

  • In Favour of Assessee
  • Citation Number : TS-394-HC-2022(ALL)
  • Tax Payer : Ajay Bhandari
Income tax Appellate Tribunal

ITAT: Holds amended Sec.201(1)-proviso as retrospective since removes statutory anomaly over sum paid to NRs

  • In Favour of Assessee
  • Citation Number : TS-393-ITAT-2022(PAN)
  • Tax Payer : Shree Balaji Concepts
Income tax Appellate Tribunal

ITAT: AXA France not liable for TDS on ceding commission since in nature of proportionate cost-reimbursement

  • In Favour of Assessee
  • Citation Number : TS-391-ITAT-2022(DEL)
  • Tax Payer : AXA France Vie
Income tax Appellate Tribunal

ITAT: ITAT: Sales tax subsidy received by Grasim from various states, non-taxable capital receipt; Follows Reliance SB ruling

  • In Favour of Assessee
  • Citation Number : TS-392-ITAT-2022(Mum)
  • Tax Payer : Grasim Industries Limited
Income tax Appellate Tribunal

ITAT: Disallows Doctor’s referral fee for recommending stem cell banking; Follows SC’s Apex Labs ruling

  • In Favour of Revenue
  • Citation Number : TS-390-ITAT-2022(Mum)
  • Tax Payer : Stemade Biotech Private Limited
Income tax Appellate Tribunal

ITAT: Rejects revisionary order against real estate developer over valuation of WIP, finds accounting compliant with ICAI Guidelines

  • In Favour of Assessee
  • Citation Number : TS-369-ITAT-2022(Ahd)
  • Tax Payer : Rushabhdev Infra Project Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: ITAT: Remands issue of taxability of sum received from Hutch as royalty; Considers Assessee’s MFN Clause plea

  • In Favour of None/NA
  • Citation Number : TS-380-ITAT-2022(Bang)
  • Tax Payer : Belgacom International Carrier Services SA
Income tax Appellate Tribunal

ITAT: Settling creditors prior to receipt of BSE shares, not relevant for computing capital gains from share-sale

  • In Favour of Revenue
  • Citation Number : TS-363-ITAT-2022(Mum)
  • Tax Payer : Mukul H Dalal
Income tax Appellate Tribunal

ITAT: Bonus issue not received for inadequate consideration; Holds Sec.56(2)(vii)(c) inapplicable

  • In Favour of Assessee
  • Citation Number : TS-388-ITAT-2022(DEL)
  • Tax Payer : Bhanu Chopra
Income tax Appellate Tribunal

ITAT: Upholds revisionary order since original assessment completed without proper enquiries

  • In Favour of Revenue
  • Citation Number : TS-377-ITAT-2022(Bang)
  • Tax Payer : Charoen Pokphand Seeds India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Sale of equipment concluded outside India, not taxable; Relies on SC ruling in Ishikawajima Harima

  • In Favour of Assessee
  • Citation Number : TS-387-ITAT-2022(DDN)
  • Tax Payer : Solar Turbines International Company
Income tax Appellate Tribunal

ITAT: Holds adjustment of brought forwards capital losses against tax-exempt capital gain as unsustainable

  • In Favour of Assessee
  • Citation Number : TS-386-ITAT-2022(Mum)
  • Tax Payer : Bluebay Mauritius Investment Ltd
High Court

HC: Commission to directors & relatives with no special expertise in procurement, unreasonable; Upholds Sec.37 disallowance

  • In Favour of Revenue
  • Citation Number : TS-374-HC-2022(ORI)
  • Tax Payer : Oripol Industries Ltd
High Court

HC: HC: Sets aside assessment order passed during IBC moratorium period; Expunges remarks, vacates cost against Assessee's Counsel

  • In Favour of Assessee
  • Citation Number : TS-389-HC-2022(CAL)
  • Tax Payer : SREI Equipment Finance Limited
Supreme Court

SC: Assessee entitled to IDS benefit, despite default, since compliant with CBDT Notification 103/2019

  • In Favour of Assessee
  • Citation Number : TS-385-SC-2022
  • Tax Payer : Sadhana R. Jain
Income tax Appellate Tribunal

ITAT: WhatsApp messages, uncorroborated & inadmissible under Evidence Act, unreliable; Deletes Rs.17 Cr. 'Election Expenses'

  • In Favour of Both, Partially
  • Citation Number : TS-384-ITAT-2022(CHNY)
  • Tax Payer : A. Johnkumar
High Court

HC: Explicates on new reassessment regime while setting aside Sec.148A(d) order alleging Rs.1 Lakh Cr. escaped income

  • In Favour of Assessee
  • Citation Number : TS-383-HC-2022(DEL)
  • Tax Payer : Divya Capital One Private Limited
High Court

HC: Dismisses cooperative society's challenge against Sec.148 notice; Holds no change of opinion since assessment records not examined

  • In Favour of Revenue
  • Citation Number : TS-382-HC-2022(GUJ)
  • Tax Payer : Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd