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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: Quashes assessment order on Accenture’s ‘non-existent’ entity, albeit DRP's directions issued correctly

  • In Favour of Assessee
  • Citation Number : TS-09-ITAT-2022(Mum)
  • Tax Payer : Accenture Solutions Private Limited (ASOL) (As a Successor to Accenture Services Private Limited (ASPL)
Income tax Appellate Tribunal

ITAT: Denies deduction u/s 35(2)(ia); Finds capital expenditure 'bogus', R&D activities 'non-existent'

  • In Favour of Revenue
  • Citation Number : TS-08-ITAT-2022(Bang)
  • Tax Payer : The Official Liquidator in case of M/s. Jupiter Bioscience Limited
Supreme Court

SC: SC: Disposes of transfer petitions as infructuous in the wake of Faceless Appeals Scheme, 2021

  • In Favour of None/NA
  • Citation Number : TS-06-SC-2022
  • Tax Payer : LAKSHYA BUDHIRAJA & ANR. ETC.
Income tax Appellate Tribunal

ITAT: Disallows depreciation on enhanced goodwill resulting from assets' revaluation pursuant to slump sale

  • In Favour of Both, Partially
  • Citation Number : TS-1177-ITAT-2021(Bang)
  • Tax Payer : Middleby Celfrost Innovations Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Holds no TP adjustment warranted in absence of Revenue appeal before HC/ SC for earlier years

  • In Favour of Assessee
  • Citation Number : TS-05-ITAT-2022(DEL)
  • Tax Payer : GBT India Pvt. Ltd
High Court

HC: Affirms ITAT's order adopting guidance value as full value of consideration for capital gains under JDA

  • In Favour of Assessee
  • Citation Number : TS-1178-HC-2021(KAR)
  • Tax Payer : Shankar Vittal Motor Co. Ltd. & Another
Income tax Appellate Tribunal

ITAT: Allows Canara Bank’s claim for bad debts of Rs.1258.47 Cr.; Shortfall u/s 36(1)(viia) not adjustable in subsequent year

  • In Favour of Both, Partially
  • Citation Number : TS-1174-ITAT-2021(Bang)
  • Tax Payer : Canara Bank
Income tax Appellate Tribunal

ITAT: Quashes revisionary order on issues not covered by limited scrutiny

  • In Favour of Assessee
  • Citation Number : TS-1170-ITAT-2021(DEL)
  • Tax Payer : Naveen Partap Tyagi
Income tax Appellate Tribunal

ITAT: Loan to sister concern, referred to BIFR, deductible as bad debt u/s 36(1)(vii)

  • In Favour of Assessee
  • Citation Number : TS-1171-ITAT-2021(Mum)
  • Tax Payer : SDN & Co
Income tax Appellate Tribunal

ITAT: Form 10 sent by speed post within limitation period acceptable; Remits matter over claim of exemption u/s 10(23C)(vi)

  • In Favour of Assessee
  • Citation Number : TS-1173-ITAT-2021(DDN)
  • Tax Payer : Adarsh Bal Niketan
Income tax Appellate Tribunal

ITAT: Rejects existence of Mitsui’s DAPE in India and consequent profit attribution

  • In Favour of Assessee
  • Citation Number : TS-04-ITAT-2022(DEL)
  • Tax Payer : Mitsui & Co
Income tax Appellate Tribunal

ITAT: CIT(A) not empowered to pass directions to AO in an 'infructuous' appeal

  • In Favour of Assessee
  • Citation Number : TS-1176-ITAT-2021(Mum)
  • Tax Payer : Lokhandwala Foundation
High Court

HC: Quashes final assessment order passed due to inadvertent error in ITBA; Directs for fresh draft order

  • In Favour of Assessee
  • Citation Number : TS-1175-HC-2021(MAD)
  • Tax Payer : Bradken India Private Limited
High Court

HC: Delayed & unadjudicated revision application constitutes pendency, holds Assessee eligible under VsV Act

  • In Favour of Assessee
  • Citation Number : TS-03-HC-2022(BOM)
  • Tax Payer : Dhanraj Malchand Rathi
Income tax Appellate Tribunal

ITAT: Directs Revenue to allow deduction u/s 35AB to Mercedes-Benz subject to verification of claim in initial years

  • In Favour of Assessee
  • Citation Number : TS-1172-ITAT-2021(PUN)
  • Tax Payer : Mercedez-Benz India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Fees for technical know-how paid to US Co., revenue expenditure, not hit by Sec.32(1)(ii)

  • In Favour of Both, Partially
  • Citation Number : TS-1169-ITAT-2021(DEL)
  • Tax Payer : Frick India Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Services rendered to MTR Foods outside India, not FTS under India-Singapore DTAA & domestic law

  • In Favour of Assessee
  • Citation Number : TS-1167-ITAT-2021(Bang)
  • Tax Payer : Orkla Asia Pacific Pte Ltd
Income tax Appellate Tribunal

ITAT: Share premium of Rs.277 Cr not taxable for Telugu daily 'Sakshi'; Finds CBI chargesheets irrelevant as additional evidence

  • In Favour of Assessee
  • Citation Number : TS-1166-ITAT-2021(HYD)
  • Tax Payer : Jagati Publications Limited
Income tax Appellate Tribunal

ITAT: Quashes Sec 263 revisionary proceedings against final assessment order; 3-member DRP superior to single CIT

  • In Favour of Assessee
  • Citation Number : TS-02-ITAT-2022(Mum)
  • Tax Payer : Barclays Bank PLC
High Court

HC: PACS' income from deposits with co-operative banks deductible u/s 80P(2)(d); Treasury interest not eligible

  • In Favour of Both, Partially
  • Citation Number : TS-1163-HC-2021(KER)
  • Tax Payer : Peroorkada Service Co-Operative Bank Ltd