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Rulings ( 15452 results )

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Supreme Court

SC: Allows Sec-80IA deduction on ‘gross total income’ for Reliance Energy, not restricted to ‘business income’

  • In Favour of Assessee
  • Citation Number : TS-307-SC-2021
  • Tax Payer : Reliance Energy Ltd.
High Court

HC: Upholds penalty for deemed concealment of income; Rejects alleged ‘retrospective’ application of amended explanation 3 to Sec.271(1)(c)

  • In Favour of Revenue
  • Citation Number : TS-305-HC-2021(MAD)
  • Tax Payer : Dharampal R.Pandia
High Court

HC: Decides on 'search case' under VsV; Interprets FAQ 70 of Circular 21/2020 read with Circular 4/2021

  • In Favour of Assessee
  • Citation Number : TS-304-HC-2021(BOM)
  • Tax Payer : Bhupendra Harilal Mehta
Foreign Court

FC: Danish Tax Council – 'Internal support work' by employee from 'home office’ in Denmark, not PE of UK Co.

  • In Favour of Assessee
  • Citation Number : TS-303-FC-2021(DEN)
  • Tax Payer : Sproger (UK Co.)
High Court

HC: Restricts adjustment of refund against outstanding demand prescribed under CBDT Instructions

  • In Favour of Assessee
  • Citation Number : TS-301-HC-2021(BOM)
  • Tax Payer : Vrinda Sharad Bal
Income tax Appellate Tribunal

ITAT: CIT(A) as independent appellate authority cannot resort to protective and substantive addition simultaneously

  • In Favour of Assessee
  • Citation Number : TS-300-ITAT-2021(DEL)
  • Tax Payer : Sh. Karamjit S. Jaiswal
High Court

HC: Rejects remand, allows deduction u/s 80JJAA based on communication, CA Report in Form 10DA

  • In Favour of Assessee
  • Citation Number : TS-297-HC-2021(DEL)
  • Tax Payer : International Tractors Ltd
High Court

HC: Confirms ITAT order, new workmen satisfying '300 working days' criteria in succeeding year, eligible for deduction u/s 80JJAA

  • In Favour of Assessee
  • Citation Number : TS-295-HC-2021(KAR)
  • Tax Payer : Texas Instruments India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Allows Goldman Sachs to carry-forward STCL 'exempt' under India-Singapore DTAA

  • In Favour of Assessee
  • Citation Number : TS-294-ITAT-2021(Mum)
  • Tax Payer : Goldman Sachs India Investments (Singapore) PTE Limited
Income tax Appellate Tribunal

ITAT: Earning surplus does not impinge the character of soceity; Grants approval u/s 10(23C)(vi)

  • In Favour of Assessee
  • Citation Number : TS-281-ITAT-2021(CHANDI)
  • Tax Payer : Rainbow International Society for Education(RISE)
Income tax Appellate Tribunal

ITAT: Holds reassessment unsustainable de hors proper service of notice to assessee

  • In Favour of Assessee
  • Citation Number : TS-280-ITAT-2021(Mum)
  • Tax Payer : Late Pankaj Shantilal Shah (through L/heir Mrs. Bharti Pankaj Shah)
Income tax Appellate Tribunal

ITAT: Sales tax assistance in the form of incentive to encourage industrial expansion from State Government, capital receipt

  • In Favour of Assessee
  • Citation Number : TS-282-ITAT-2021(Kol)
  • Tax Payer : Emami Agrotech Limited
Income tax Appellate Tribunal

ITAT: Holds income from letting out of studio to artists for recording by trust with object of education, not business income

  • In Favour of Assessee
  • Citation Number : TS-290-ITAT-2021(Mum)
  • Tax Payer : Acharya Jiyalal Vasant Sangeet Niketan
Income tax Appellate Tribunal

ITAT: Restricts disallowance of closing stock of WIP due to change in method of accounting, to extent of deduction u/s 80IB(10)

  • In Favour of Both, Partially
  • Citation Number : TS-291-ITAT-2021(Bang)
  • Tax Payer : Ittina Properties Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sitting Fees part and parcel of Directors's remuneration; Upholds disallowance for non-deduction of tax u/s 194J

  • In Favour of Revenue
  • Citation Number : TS-277-ITAT-2021(DEL)
  • Tax Payer : HLS Asia Ltd
Income tax Appellate Tribunal

ITAT: Allows carry forward/ set-off of MAT credit of amalgamating co. to Tata Communications

  • In Favour of Assessee
  • Citation Number : TS-292-ITAT-2021(Mum)
  • Tax Payer : TATA Communications Ltd.
High Court

HC: Fresh expense claim pursuant to change in accounting policy, not concealment; Deletes penalty u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-287-HC-2021(DEL)
  • Tax Payer : Taneja Developers And Infrastructuere Ltd
High Court

HC: Upholds reassessment initiated based investigation wing report alleging bogus transaction with Hawala dealer

  • In Favour of Revenue
  • Citation Number : TS-293-HC-2021(GUJ)
  • Tax Payer : Nisha Diamonds Private Limited
High Court

HC: Allowability of forex loss no longer res integra post Woodward Governor decision; Dismisses Revenue's appeal

  • In Favour of Assessee
  • Citation Number : TS-274-HC-2021(DEL)
  • Tax Payer : HCL Comnet Systems & Services Ltd
Income tax Appellate Tribunal

ITAT: Sale consideration to be determined based on sale deed, not Form 26AS; Sets aside assessment

  • In Favour of Assessee
  • Citation Number : TS-289-ITAT-2021(Bang)
  • Tax Payer : Jaya Prakash