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Rulings ( 15452 results )

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High Court

HC: ITAT's remand order invalid where lower authorities pass well-reasoned order

  • In Favour of Assessee
  • Citation Number : TS-417-HC-2021(MAD)
  • Tax Payer : Ratanchand Manoharmal
Income tax Appellate Tribunal

ITAT: ITAT: Setoff of speculative loss against business income, not concealment of income u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-416-ITAT-2021(DEL)
  • Tax Payer : Sucon India Ltd
Income tax Appellate Tribunal

ITAT: Draft assessment order u/s 144C(1) unwarranted if no variation proposed in returned income

  • In Favour of Assessee
  • Citation Number : TS-415-ITAT-2021(DEL)
  • Tax Payer : Silver Bella Holdings Limited
Income tax Appellate Tribunal

ITAT: Rectification of reassessment order, later quashed, not tenable on issue forming reason to believe

  • In Favour of Assessee
  • Citation Number : TS-413-ITAT-2021(Mum)
  • Tax Payer : Intelenet Global Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Income from lottery business taxable u/s 115BB after setoff of loss u/s 71

  • In Favour of Assessee
  • Citation Number : TS-411-ITAT-2021(Mum)
  • Tax Payer : Pooja Marketing
Income tax Appellate Tribunal

ITAT: Sale of additional FSI, non-taxable capital receipt; MAT also inapplicable

  • In Favour of Assessee
  • Citation Number : TS-410-ITAT-2021(Mum)
  • Tax Payer : Batliboi Limited
Income tax Appellate Tribunal

ITAT: PoA holder not taxable for on-money received in representative capacity

  • In Favour of Assessee
  • Citation Number : TS-403-ITAT-2021(Ahd)
  • Tax Payer : Bankimbhai D. Patel
High Court

HC: Sets aside faceless assessment order passed in violation of Sec.144B; Grants liberty for fresh assessment

  • In Favour of Assessee
  • Citation Number : TS-402-HC-2021(DEL)
  • Tax Payer : Lokesh Constructions P Ltd
High Court

HC: Sets aside faceless assessment order passed without SCN; Grants liberty for fresh assessment

  • In Favour of Assessee
  • Citation Number : TS-401-HC-2021(DEL)
  • Tax Payer : YCD Industries
Income tax Appellate Tribunal

ITAT: Morgan Stanley's income from IDRs exempt under Art. 22 of India-Mauritius DTAA

  • In Favour of Assessee
  • Citation Number : TS-400-ITAT-2021(Mum)
  • Tax Payer : Morgan Stanley Mauritius Co Ltd
Income tax Appellate Tribunal

ITAT: Holds shares issued at premium forming part of shareholders funds, capital; Not taxable as revenue receipt

  • In Favour of Assessee
  • Citation Number : TS-394-ITAT-2021(Mum)
  • Tax Payer : Covestro India Private Limited
High Court

HC: Quashes assessment order on legal heir as notice u/s 148 issued on deceased Assessee despite intimation of demise

  • In Favour of Assessee
  • Citation Number : TS-386-HC-2021(MAD)
  • Tax Payer : K.Suresh
Income tax Appellate Tribunal

ITAT: No TDS u/s 195 on brokerage and commission paid to overseas agents rendering services outside India

  • In Favour of Assessee
  • Citation Number : TS-379-ITAT-2021(SUR)
  • Tax Payer : Broach Textile Mills Ltd
Income tax Appellate Tribunal

ITAT: Distributes sale consideration amongst all partners, cost borne by 2 partners

  • In Favour of Assessee
  • Citation Number : TS-397-ITAT-2021(Mum)
  • Tax Payer : Rajesh Pratap Ved
Income tax Appellate Tribunal

ITAT: Deletes penalty for "undisclosed" receipts offered to tax in subsequent year

  • In Favour of Assessee
  • Citation Number : TS-385-ITAT-2021(Mum)
  • Tax Payer : Subhash Shah And Associates Architects Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes addition on 'hypothetical' unrealizable interest income reflected in 26AS

  • In Favour of Assessee
  • Citation Number : TS-396-ITAT-2021(PUN)
  • Tax Payer : Nutan Warehousing Co. Pvt. Ltd
High Court

HC: Quashes notice u/s 148 issued beyond four years merely on change of opinion on deduction u/s 80IA

  • In Favour of Assessee
  • Citation Number : TS-393-HC-2021(GUJ)
  • Tax Payer : Gujarat Ambuja Exports Ltd
Income tax Appellate Tribunal

ITAT: Quashes order u/s 263 treating forex loss as speculative loss for ‘lack of inquiry’

  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2021(SUR)
  • Tax Payer : Shantai Exim Limited
Foreign Court

FC: Denmark Eastern High Court Accepts Look Through Approach while Applying Beneficial Ownership Criteria

  • In Favour of Both, Partially
  • Citation Number : TS-398-FC-2021(DEN)
  • Tax Payer : NetApp Denmark ApS
Income tax Appellate Tribunal

ITAT: No capital gains on unmaterialised development agreement with builder; Follows SC's Balbir Singh Maini

  • In Favour of Assessee
  • Citation Number : TS-395-ITAT-2021(PUN)
  • Tax Payer : Amit Murlidhar Kamthe