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Rulings ( 15461 results )

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Income tax Appellate Tribunal

ITAT:Sec.112 tax-rate applicable on long term depreciable asset-sale; Sec.50 deeming fiction limited to computation

  • In Favour of Assessee
  • Citation Number : TS-566-ITAT-2020(Mum)
  • Tax Payer : Voltas Limited
Income tax Appellate Tribunal

ITAT:Notice u/s 143(2) not mandatory for best judgment reassessment accepting returned income

  • In Favour of Revenue
  • Citation Number : TS-565-ITAT-2020(JPR)
  • Tax Payer : Bhaval Synthetics (India) Ltd
Foreign Court

FC: Danish Tax Council: Denies treaty benefits to German Fund on real estate investment income from Denmark

  • In Favour of Revenue
  • Citation Number : TS-736-FC-2020(DEN)
  • Tax Payer : German Real Estate Fund
Income tax Appellate Tribunal

ITAT:Allows Trilegal partner's expenses claim against remuneration from firm

  • In Favour of Assessee
  • Citation Number : TS-564-ITAT-2020(DEL)
  • Tax Payer : Anand Prasad
Income tax Appellate Tribunal

ITAT:Sec. 195 TDS applicable on software payments to foreign AE, rejects assessee's 'distributor' plea

  • In Favour of Revenue
  • Citation Number : TS-563-ITAT-2020(Bang)
  • Tax Payer : Kaseya Software India Private Limited
High Court

HC: ISKCON eligible for exemption as trust's objectives are charitable in nature

  • In Favour of Assessee
  • Citation Number : TS-562-HC-2020(KAR)
  • Tax Payer : ISKCON CHARITIES
Income tax Appellate Tribunal

ITAT: Possession to prevail over right to specific performance in construing 'holding period' for LTCG

  • In Favour of Assessee
  • Citation Number : TS-561-ITAT-2020(SUR)
  • Tax Payer : Jhonson Electric Company Limited
Income tax Appellate Tribunal

ITAT: Date of transaction' prevails over 'date of registration' for Sec. 56(2)(vii)(b) on land transfers

  • In Favour of Assessee
  • Citation Number : TS-560-ITAT-2020(JAB)
  • Tax Payer : Rakhi Agrawal
Income tax Appellate Tribunal

ITAT: Income surrendered during survey satisfactorily explained as business-linked not covered u/s 69/69A

  • In Favour of Assessee
  • Citation Number : TS-559-ITAT-2020(PUN)
  • Tax Payer : Sagar Samrat
Foreign Court

FC: Zimbabwean High Court: FTS paid to foreign entity with Reserve Bank's approval, deductible

  • In Favour of Assessee
  • Citation Number : TS-735-FC-2020(ZIM)
  • Tax Payer : ZIMBABWE REVENUE AUTHORITY
Income tax Appellate Tribunal

ITAT:Allows FTS to Stanchart's Indian PE u/s 37(1); Rejects categorisation as 'HO expense' u/s 44C

  • In Favour of Assessee
  • Citation Number : TS-558-ITAT-2020(DEL)
  • Tax Payer : Standard Chartered Grindlays
High Court

HC:Reverses ITAT; Advance interest received on bills discounted against LoC taxable on accrual, not receipt basis

  • In Favour of Assessee
  • Citation Number : TS-557-HC-2020(MAD)
  • Tax Payer : The Karur Vysya Bank Ltd
Income tax Appellate Tribunal

ITAT:Leasehold rights not 'capital assets' for Sec.50C invocation; Deletes addition of Rs. 241Cr

  • In Favour of Assessee
  • Citation Number : TS-556-ITAT-2020(DEL)
  • Tax Payer : Noida Cyber Park Pvt. Ltd
Income tax Appellate Tribunal

ITAT: AO's allegation of concealment 'and' inaccurate particulars furnishing - 'specific'; Upholds penalty

  • In Favour of Revenue
  • Citation Number : TS-555-ITAT-2020(Bang)
  • Tax Payer : Shri. Mallikarjun H. Meti
Income tax Appellate Tribunal

ITAT: Compels 'e-filing' of audit report with ITR by due-date for deduction u/s 80-IB(11A)

  • In Favour of Revenue
  • Citation Number : TS-554-ITAT-2020(DEL)
  • Tax Payer : Pradeep Kumar Batra
Income tax Appellate Tribunal

ITAT:Tax-effect circular not applicable to appeals 'pending' pronouncement; Dismisses assessee's MA

  • In Favour of Revenue
  • Citation Number : TS-553-ITAT-2020(Mum)
  • Tax Payer : Dorf Ketal Chemical India Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Indian AE fails 'disposal test' for constituting Swedish Co's PE; Intermediary services, not FTS

  • In Favour of Assessee
  • Citation Number : TS-552-ITAT-2020(DEL)
  • Tax Payer : Bombardier Transportation Sweden AB
Income tax Appellate Tribunal

ITAT:Sec.11 exemption denial doesn't tantamount to concealment/ furnishing inaccurate details; Deletes penalty for Jamsetji Tata Trust

  • In Favour of Assessee
  • Citation Number : TS-551-ITAT-2020(Mum)
  • Tax Payer : Jamsetji Tata Trust
Income tax Appellate Tribunal

ITAT: ITAT:PE determination irrelevant for transactions at ALP between ESPN Group Cos.

  • In Favour of Assessee
  • Citation Number : TS-550-ITAT-2020(DEL)
  • Tax Payer : ESPN Star Sports Mauritius S.N.C et Compagnie (now known as ESS Advertising (Mauritius) S.N.C. et Compagnie)
Income tax Appellate Tribunal

ITAT: Accepts assessee's 'scientific apportionment' of administrative expenses for disallowance u/s 14A

  • In Favour of Assessee
  • Citation Number : TS-549-ITAT-2020(Mum)
  • Tax Payer : Tata Projects Limited