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Rulings ( 15452 results )

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High Court

HC: Sum received as security deposit and lease-rentals, not ‘loan/advance’ u/s 2(22)(e)

  • In Favour of Assessee
  • Citation Number : TS-159-HC-2021(KAR)
  • Tax Payer : Jamuna Vernekar
High Court

HC: HC: Incentives paid to member co-operative banks allowable u/s 37; Applies prudent businessman's perspective

  • In Favour of Revenue
  • Citation Number : TS-160-HC-2021(KAR)
  • Tax Payer : Karnataka State Co-Operative Apex Bank Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Allows depreciation to co-operative bank on excess of liabilities over assets taken-over under RBI directive

  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2021(Mum)
  • Tax Payer : NKGSB Co–operative Bank Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Rejects Assessee's plea based on Manjunatha Cotton against penalty u/s 271(1)(c); Observes, no prejudice caused

  • In Favour of Revenue
  • Citation Number : TS-157-ITAT-2021(AGR)
  • Tax Payer : Fairyland Hotel & Resorts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Deletes addition of professional fee allegedly received by assessee-doctor; Pierces corporate veil

  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2021(Ahd)
  • Tax Payer : Yatish Kumar Amarnath Bansal
Income tax Appellate Tribunal

ITAT: Upholds admission of additional evidence; Finds non-response to Revenue's notices justifiable

  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2021(JPR)
  • Tax Payer : Ishika Foods (P) Ltd.
Income tax Appellate Tribunal

ITAT: New source of disallowance cannot be introduced in appellate proceedings; Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-147-ITAT-2021(Mum)
  • Tax Payer : Shivji Amba Gami
Income tax Appellate Tribunal

ITAT: Assessee’s non-compliance to furnish vendor details, unintentional; Restores issue of ad-hoc disallowance of professional fees

  • In Favour of None/NA
  • Citation Number : TS-148-ITAT-2021(DEL)
  • Tax Payer : CL EDUCATE LTD.
Income tax Appellate Tribunal

ITAT: Assessee not paid or expressed willingness to pay 20% of demand; Denies stay under amended Sec.254(2A)

  • In Favour of Revenue
  • Citation Number : TS-150-ITAT-2021(HYD)
  • Tax Payer : Smt.Yashoda Gundavarapu R.R. Dt.
Income tax Appellate Tribunal

ITAT: Quantification of deduction by DSIR in Form 3CL, inapplicable to AY 2012-13; Deletes Sec.271(1)(c) penalty

  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2021(Bang)
  • Tax Payer : Mahindra Electric Vehicles Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Income derived by NR for services performed outside India, not taxable u/s 5(2)

  • In Favour of Assessee
  • Citation Number : TS-145-ITAT-2021(HYD)
  • Tax Payer : Venkata Rama Rao
Income tax Appellate Tribunal

ITAT: Only IRP authorized to pursue litigation once insolvency proceedings initiated; Dismisses appeal filed through directors

  • In Favour of Revenue
  • Citation Number : TS-151-ITAT-2021(DEL)
  • Tax Payer : Three C Shelters P. Ltd
Income tax Appellate Tribunal

ITAT: Advance received against sale of property rights not taxable u/s 2(22)(e)

  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2021(DEL)
  • Tax Payer : Today Hotels Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: ITAT: Mere addition in assessment proceedings cannot attract the levy of penalty; Follows Manjunatha Cotton

  • In Favour of Assessee
  • Citation Number : TS-133-ITAT-2021(Mum)
  • Tax Payer : Nabors Drilling International Ltd.
Income tax Appellate Tribunal

ITAT: Condones delay of 1425 days in filing appeal before CIT(A) on ‘sufficient cause’ given by assessee

  • In Favour of Assessee
  • Citation Number : TS-132-ITAT-2021(CHNY)
  • Tax Payer : Inscribe Graphics Ltd.
Income tax Appellate Tribunal

ITAT: Grants deduction u/s 80P to credit Co-operative society; Follows SC ruling in Mavilayi Service Co-op Bank

  • In Favour of Assessee
  • Citation Number : TS-119-ITAT-2021(COCH)
  • Tax Payer : Koduvayur Service Co-operative Bank Ltd.
Income tax Appellate Tribunal

ITAT: ITAT: Rejects colourable device plea against settlement with borrower on guarantee amount, allows business loss

  • In Favour of Revenue
  • Citation Number : TS-153-ITAT-2021(DEL)
  • Tax Payer : WGF Financial Services Pvt.Ltd
High Court

HC: Accommodates assessee for availing VsV; Restores appeal before CIT(A) subject to payment of tax dues

  • In Favour of Revenue
  • Citation Number : TS-154-HC-2021(KAR)
  • Tax Payer : Latha Shivanna
Income tax Appellate Tribunal

ITAT: Revision of return shows absence of conscious concealment, deletes penalty

  • In Favour of Assessee
  • Citation Number : TS-152-ITAT-2021(SUR)
  • Tax Payer : R.S. Tradelink Pvt. Ltd
Supreme Court

SC: SC: Dismisses Revenue’s SLP against allowing pre-2002 unabsorbed depreciation beyond 8 years

  • In Favour of Assessee
  • Citation Number : TS-140-SC-2021
  • Tax Payer : Central Electronics Ltd