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Rulings ( 15452 results )

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Income tax Appellate Tribunal

ITAT: ITAT: Statement made during survey lacks evidentiary value, Deletes declaration-based addition

  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2021(HYD)
  • Tax Payer : Legend Developers & Constructions
Income tax Appellate Tribunal

ITAT: Upholds angel tax exemption for recognised startup assessed prior to Feb'19 notification

  • In Favour of Assessee
  • Citation Number : TS-493-ITAT-2021(CHNY)
  • Tax Payer : Kovai Media P.Ltd
Income tax Appellate Tribunal

ITAT: Extends benefit of doubt over holding-period to Assessee, holds property as long-term capital asset

  • In Favour of Assessee
  • Citation Number : TS-490-ITAT-2021(Bang)
  • Tax Payer : G. Dasaratharami Reddy
Income tax Appellate Tribunal

ITAT: ITAT: Cost of goods on contractual breach by NSEL allowable as business loss

  • In Favour of Assessee
  • Citation Number : TS-489-ITAT-2021(Mum)
  • Tax Payer : Nirshilp Securities Pvt. Ltd
High Court

HC: Contradicts on Sec.144C procedure over requirement of draft-assessment order in remand proceedings

  • In Favour of Assessee
  • Citation Number : TS-487-HC-2021(MAD)
  • Tax Payer : Durr India Private Limited
High Court

HC: Contradicts on Sec.144C procedure over requirement of draft-assessment order in remand proceedings

  • In Favour of Revenue
  • Citation Number : TS-488-HC-2021(MAD)
  • Tax Payer : Enfinity Solar Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Deletes addition of share application, premium u/s 68 received through NRE Account

  • In Favour of Assessee
  • Citation Number : TS-484-ITAT-2021(SUR)
  • Tax Payer : Raj Gar Fab Pvt Ltd
Income tax Appellate Tribunal

ITAT: Assessing father for income substantively accepted in sons' hands, double taxation, not tenable

  • In Favour of Assessee
  • Citation Number : TS-479-ITAT-2021(Rjt)
  • Tax Payer : Ravichandra V. Mehta
High Court

HC: Overturns SB ruling in Nandi Steels; Allows set-off of brought-forward business-loss against capital gain

  • In Favour of Assessee
  • Citation Number : TS-483-HC-2021(KAR)
  • Tax Payer : Nandi Steels Limited
Income tax Appellate Tribunal

ITAT: Assessee entitled to LTC exemption exclusive of foreign travel expenses u/s 10(5)

  • In Favour of Assessee
  • Citation Number : TS-482-ITAT-2021(Ahd)
  • Tax Payer : Hareshkumar Ratilal Kansara
Income tax Appellate Tribunal

ITAT: ‘Ownership’ of warehouses irrelevant for deduction u/s 80-IB(11A), nature of business determinative

  • In Favour of Assessee
  • Citation Number : TS-481-ITAT-2021(DEL)
  • Tax Payer : LTC Commercial Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Allows Assessee to opt for VSV Scheme; Follows Madras HC ruling in Nannusamy Mohan

  • In Favour of Assessee
  • Citation Number : TS-478-ITAT-2021(CHNY)
  • Tax Payer : Ratna Foundation
Income tax Appellate Tribunal

ITAT: TDS obligation u/s 194A stands discharged on furnishing of Form 15G, disallowance u/s 40(a)(ia) invalid

  • In Favour of Assessee
  • Citation Number : TS-476-ITAT-2021(Ahd)
  • Tax Payer : B. Nanji A. Mehta Lodha & Co.
Income tax Appellate Tribunal

ITAT: Quashes revisionary proceedings u/s 263 in absence of findings of Pr.CIT

  • In Favour of Assessee
  • Citation Number : TS-472-ITAT-2021(Ahd)
  • Tax Payer : Kaushikbhai P. Patel
Income tax Appellate Tribunal

ITAT: Formal deed not required for registration u/s 12AA, objects of trust to be considered

  • In Favour of Assessee
  • Citation Number : TS-469-ITAT-2021(Ahd)
  • Tax Payer : The Panchkuva Cloth Merchant Association
Income tax Appellate Tribunal

ITAT: Denies exemption u/s 54 for non-utilisation of sum deposited in special account

  • In Favour of Revenue
  • Citation Number : TS-468-ITAT-2021(DEL)
  • Tax Payer : Avtar Krishen Jalla
Income tax Appellate Tribunal

ITAT: CIT(A) not empowered to dismiss Assessee’s appeal for non-prosecution

  • In Favour of Assessee
  • Citation Number : TS-464-ITAT-2021(DEL)
  • Tax Payer : Kimiyoshi Muto
Income tax Appellate Tribunal

ITAT: Unsold flats held as stock-in-trade taxable under 'Income from House Property'

  • In Favour of Revenue
  • Citation Number : TS-470-ITAT-2021(Mum)
  • Tax Payer : Dimple Enterprises
Income tax Appellate Tribunal

ITAT: Deletes addition u/s 68 on unsecured borrowing, Assessee proves identity, creditworthiness & genuineness of lenders

  • In Favour of Assessee
  • Citation Number : TS-477-ITAT-2021(Mum)
  • Tax Payer : Shalimar Housing & Finance Ltd
Income tax Appellate Tribunal

ITAT: PAN allotment/database not determinative of jurisdictional AO; Jurisdictional challenge deserves priority adjudication

  • In Favour of Assessee
  • Citation Number : TS-480-ITAT-2021(DEL)
  • Tax Payer : UV Realtors Pvt. Ltd