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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: SC ruling in Chennai Properties inapplicable to individual offering income from house property in earlier years

  • In Favour of Both, Partially
  • Citation Number : TS-1179-ITAT-2021(Mum)
  • Tax Payer : Ravi Advani
Income tax Appellate Tribunal

ITAT: Receipt through banking channels, confirmation insufficient to establish genuineness u/s 68; Follows Leena Power ruling

  • In Favour of Revenue
  • Citation Number : TS-1184-ITAT-2021(Mum)
  • Tax Payer : Mishal Construction Pvt. Ltd
High Court

HC: Remits matter to DRP as assessment finalised by miscalculating 30 days for filing objections u/s 144C(2)

  • In Favour of Assessee
  • Citation Number : TS-1185-HC-2021(KAR)
  • Tax Payer : Marvell India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows expenditure incurred on ESOP u/s 37(1), follows Biocon ruling

  • In Favour of Assessee
  • Citation Number : TS-17-ITAT-2022(DEL)
  • Tax Payer : Aricent Technologies (Holdings)Limited
Income tax Appellate Tribunal

ITAT: Allows adoption of Municipal Value for determination of ALV under Sec.23

  • In Favour of Assessee
  • Citation Number : TS-1188-ITAT-2021(DEL)
  • Tax Payer : Amal Allana
High Court

HC: Quashes Westside's reassessment notice, basis change of opinion, seeking to disallow Store Launching Expenses

  • In Favour of Assessee
  • Citation Number : TS-13-HC-2022(BOM)
  • Tax Payer : Trent Ltd
Income tax Appellate Tribunal

ITAT: Restricts addition over difference in stock for HP India to the extent substantiated by evidence

  • In Favour of Both, Partially
  • Citation Number : TS-15-ITAT-2022(Bang)
  • Tax Payer : HP India Sales Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Non-agricultural land, sans any development expenditure, not a trading asset

  • In Favour of Assessee
  • Citation Number : TS-1190-ITAT-2021(Ahd)
  • Tax Payer : M/s. Shalibhadra Developers
Income tax Appellate Tribunal

ITAT: Non-adherence to Sec.144C procedure, incurable defect; Assessment order violative of Sec.144C not revisable

  • In Favour of Assessee
  • Citation Number : TS-18-ITAT-2022(PAT)
  • Tax Payer : Dina Mahabir Re-Rollers Pvt Ltd
High Court

HC: Assessees under ‘Souharda Act’ are Co-operative Societies for Sec.2(19), eligible for deduction u/s 80P

  • In Favour of Assessee
  • Citation Number : TS-1189-HC-2021(KAR)
  • Tax Payer : KARNATAKA STATE SOUHARDA FEDERAL CO-OPERATIVE LTD
Income tax Appellate Tribunal

ITAT: Contractual expenditure on common area's maintenance liable for TDS u/s 194C, not Sec.194-I

  • In Favour of Assessee
  • Citation Number : TS-1186-ITAT-2021(DEL)
  • Tax Payer : Connaught Plaza Restaurants P. Ltd
Income tax Appellate Tribunal

ITAT: Allows expenditure on purchase of software u/s 37(1); Advantage of enduring benefit need not be on capital account

  • In Favour of Assessee
  • Citation Number : TS-16-ITAT-2022(Bang)
  • Tax Payer : Kotak Mahindra Bank Limited
Income tax Appellate Tribunal

ITAT: Declaration as beneficial owner of offshore trust's bank account for overseas compliances, no reason for addition u/s 68

  • In Favour of Assessee
  • Citation Number : TS-14-ITAT-2022(Mum)
  • Tax Payer : Vilas Waman Katre
Income tax Appellate Tribunal

ITAT: Receipt on relinquishment of right to sue arising from arbitral award, non-taxable, under MAT & normal provisions

  • In Favour of Assessee
  • Citation Number : TS-1183-ITAT-2021(Ahd)
  • Tax Payer : Ganeshsagar Infrastructure Pvt. Ltd
High Court

HC: HC: Quashes Look Out Circular issued & extended based on Revenue's suspicion; Finds violation of right to livelihood

  • In Favour of Assessee
  • Citation Number : TS-12-HC-2022(DEL)
  • Tax Payer : Vikas Chaudhary
Income tax Appellate Tribunal

ITAT: Holds capital gains taxable on possession sans development in year of entering into JDA

  • In Favour of Revenue
  • Citation Number : TS-1182-ITAT-2021(Bang)
  • Tax Payer : NG Balu Reddy, HUF
High Court

HC: Suggests CBDT to train officers in applying mind for recording reasons, granting approvals

  • In Favour of Assessee
  • Citation Number : TS-1181-HC-2021(BOM)
  • Tax Payer : Sharvah Multitrade Company Private Limited
Income tax Appellate Tribunal

ITAT: Upholds addition of gain from penny stock u/s 68; Finds strong evidence, massive multi-layered scam

  • In Favour of Revenue
  • Citation Number : TS-11-ITAT-2022(DEL)
  • Tax Payer : Krishna Devi
High Court

HC: Dismisses writs challenging benami proceedings involving Ms. Sasikala as alleged beneficial owner

  • In Favour of Revenue
  • Citation Number : TS-1180-HC-2021(MAD)
  • Tax Payer : Marg Realities Limited
Income tax Appellate Tribunal

ITAT: Allows sum paid for defending & settling patent infringement suit as revenue expenditure

  • In Favour of Assessee
  • Citation Number : TS-10-ITAT-2022(Mum)
  • Tax Payer : Omni Active Health Technologies Ltd