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Rulings ( 15457 results )

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Income tax Appellate Tribunal

ITAT: Accredited Training Centres not DAPE of International Air Transport Association under India-Canada DTAA

  • In Favour of Assessee
  • Citation Number : TS-42-ITAT-2021(Mum)
  • Tax Payer : International Air Transport Association (CANADA)
High Court

HC: Quashes prosecution as injudicious/irregular against directors of company filing ITR without discharging tax liability

  • In Favour of Assessee
  • Citation Number : TS-41-HC-2021(KAR)
  • Tax Payer : Confident Projects (India) Pvt. Ltd. & Others
Income tax Appellate Tribunal

ITAT: ITAT: Alleged DAPE tax-neutral if Indian agents remunerated at ALP; Follows Set Satellite

  • In Favour of Assessee
  • Citation Number : TS-40-ITAT-2021(Mum)
  • Tax Payer : Asia Today Limited
Income tax Appellate Tribunal

ITAT: Exercising revisionary powers on issues not forming part of reassessment, impermissible

  • In Favour of Assessee
  • Citation Number : TS-38-ITAT-2021(PUN)
  • Tax Payer : Indo Enterprises Pvt. Ltd
High Court

HC: Holds adjustment of refund u/s 245 against stayed demand in excess of 20%, illegal

  • In Favour of Assessee
  • Citation Number : TS-39-HC-2021(TEL)
  • Tax Payer : TSI Business parks Hyderabad Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes disallowance u/s 40A(2)(b) for alleged ‘excessive’ directors’ remuneration; Rejects Revenue’s tax evasion plea

  • In Favour of Assessee
  • Citation Number : TS-37-ITAT-2021(DEL)
  • Tax Payer : Orange Associates Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: ITAT: Rule 6(7A) requiring approval of R&D expenditure, applicable prospectively from AY 2017-18; Grants deduction u/s 35(2AB)

  • In Favour of Assessee
  • Citation Number : TS-36-ITAT-2021(Bang)
  • Tax Payer : Natural Remedies Pvt.Ltd.
Income tax Appellate Tribunal

ITAT: Lower of business loss/depreciation deductible for MAT computation unless entirely set-off in books

  • In Favour of Assessee
  • Citation Number : TS-34-ITAT-2021(Mum)
  • Tax Payer : Go Airlines (India) Limited
Income tax Appellate Tribunal

ITAT: SBI not TDS defaulter over LTC on circuitous journey involving foreign leg

  • In Favour of Assessee
  • Citation Number : TS-35-ITAT-2021(Mum)
  • Tax Payer : State Bank of India
High Court

HC: Writ petition challenging miscomputation of refund not entertainable due to availability of statutory remedies

  • In Favour of None/NA
  • Citation Number : TS-33-HC-2021(DEL)
  • Tax Payer : Sarita Puri
High Court

HC: HC: Startling spike in penny stock share price no ground for bogus LTCG addition; Upholds ITAT

  • In Favour of Assessee
  • Citation Number : TS-31-HC-2021(DEL)
  • Tax Payer : Krishna Devi
Income tax Appellate Tribunal

ITAT: Subsequent retrospective amendment expanding ‘Royalty’ scope cannot trigger Sec.40(a)(ia) disallowance

  • In Favour of Assessee
  • Citation Number : TS-30-ITAT-2021(PUN)
  • Tax Payer : Barclays Technology Centre India Pvt. Ltd
Authority for Advance Rulings

AAR: AAR: Hiring of vessels between NRs to execute ONGC contract, taxable u/s 44BB

  • In Favour of Revenue
  • Citation Number : TS-29-AAR-2021
  • Tax Payer : SeaBird Exploration FZ LLC
Income tax Appellate Tribunal

ITAT: Quashes assessment as jurisdictional preconditions for special audit directions not met

  • In Favour of Assessee
  • Citation Number : TS-753-ITAT-2020(Mum)
  • Tax Payer : Rosy Blue (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Revenue cannot change assessee’s DCF method of share valuation to NAV; Deletes addition u/s 56(2)(viib)

  • In Favour of Assessee
  • Citation Number : TS-751-ITAT-2020(CHNY)
  • Tax Payer : Avigna Housing Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Imperative to deposit money in capital gain account before return filing due-date for deduction u/s 54

  • In Favour of Assessee
  • Citation Number : TS-749-ITAT-2020(Bang)
  • Tax Payer : Joseph K. Zachariah
Income tax Appellate Tribunal

ITAT: Deletes penalty for delayed tax audit report submission; Accepts assessee’s difficulty in maiden e-filing

  • In Favour of Assessee
  • Citation Number : TS-752-ITAT-2020(CHNY)
  • Tax Payer : Virudhunagar District Co-operative Consumers Co-op. Stores Ltd.
Income tax Appellate Tribunal

ITAT: Upholds disallowance of expenditure incurred prior to ‘setting-up’ of business

  • In Favour of Revenue
  • Citation Number : TS-750-ITAT-2020(CHNY)
  • Tax Payer : Sinto Bharat Manufacturing Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Holds ‘trade protection price’ and offers/discount extended by Nokia to its distributors allowable

  • In Favour of Both, Partially
  • Citation Number : TS-28-ITAT-2021(DEL)
  • Tax Payer : Nokia India Sales Pvt. Ltd
High Court

HC: Directs Revenue to withdraw appeal, considers assessee’s settlement of tax payable under VsVS

  • In Favour of Assessee
  • Citation Number : TS-27-HC-2021(BOM)
  • Tax Payer : Chempsec Chemicals P. Ltd