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Rulings ( 15462 results )

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Income tax Appellate Tribunal

ITAT:Beleaguered Religare gets COVID-19 temporary reprieve, Tax Dept. a rap for non-vigilant attitude

  • In Favour of Revenue
  • Citation Number : TS-401-ITAT-2020(DEL)
  • Tax Payer : Religare Capital Markets Ltd
Income tax Appellate Tribunal

ITAT:Quashes reassessment initiated beyond 4 years; No default by assessee to disclose facts

  • In Favour of Assessee
  • Citation Number : TS-400-ITAT-2020(JPR)
  • Tax Payer : Shiv Vegpro Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Second reopening notice issued during subsistence of earlier reassessment proceedings, invalid

  • In Favour of Assessee
  • Citation Number : TS-399-ITAT-2020(Mum)
  • Tax Payer : Johnson & Johnson Private Limited
Income tax Appellate Tribunal

ITAT:Delivery-based share-trading, not speculative; allows set-off of loss with income from profession

  • In Favour of Assessee
  • Citation Number : TS-398-ITAT-2020(HYD)
  • Tax Payer : Vishanji Khimji Karani
High Court

HC:Absent intimation to Department about name strike-off from register of companies, upholds reassessment

  • In Favour of Revenue
  • Citation Number : TS-397-HC-2020(MAD)
  • Tax Payer : Tarachanthini Services Pvt. Ltd
High Court

HC:Grants capital gains exemption u/s.47(v) on land transfer to 99.99 holding company

  • In Favour of Assessee
  • Citation Number : TS-396-HC-2020(MAD)
  • Tax Payer : Shardlow India Ltd
Supreme Court

SC:Mere non-disclosure of receipts doesn't imply 'income escapement';Dismisses Revenue's SLP

  • In Favour of Assessee
  • Citation Number : TS-395-SC-2020
  • Tax Payer : The Swastic Safe Deposit and Investments Ltd
Supreme Court

SC:Family Settlement Memorandum, once acted upon, is binding on parties despite unregistered

  • In Favour of Assessee
  • Citation Number : TS-394-SC-2020
  • Tax Payer : Ravinder Kaur Grewal & Ors
Income tax Appellate Tribunal

ITAT:Renovation expenditure on trucks, eligible for higher depreciation relevant for special 'block of assets'

  • In Favour of Assessee
  • Citation Number : TS-393-ITAT-2020(Ahd)
  • Tax Payer : Agrawal Roadlines Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Payments towards retirement benefits of 'seconded employees', not unascertained liability; Addition thereof unsustainable

  • In Favour of Assessee
  • Citation Number : TS-392-ITAT-2020(DEL)
  • Tax Payer : NTPC Electrical Supply Company Ltd
Income tax Appellate Tribunal

ITAT:Interest paid on loan raised against FDRs, deductible u/s.57(iii); Cites direct nexus with FDR interest

  • In Favour of Assessee
  • Citation Number : TS-391-ITAT-2020(CHANDI)
  • Tax Payer : Anjana Vinayak
High Court

HC: Share-exchange under amalgamation - transfer” u/s. 2(47); Upholds 'business income' taxability where shares held as 'stock'

  • In Favour of Revenue
  • Citation Number : TS-390-HC-2020(DEL)
  • Tax Payer : Nalwa Investment Ltd
Income tax Appellate Tribunal

ITAT:AO can't change assessee's share-valuation method under Rule 11UA; Follows HC decision in Vodafone M-Pesa

  • In Favour of Assessee
  • Citation Number : TS-389-ITAT-2020(Mum)
  • Tax Payer : Karmic Labs Pvt.Ltd
Income tax Appellate Tribunal

ITAT:Software installation expenditure on abandoned project, revenue in nature

  • In Favour of Assessee
  • Citation Number : TS-388-ITAT-2020(Kol)
  • Tax Payer : Landis+ Gyr Ltd
Income tax Appellate Tribunal

ITAT:Allows Sec.54 benefit for investment made in wife's name

  • In Favour of Assessee
  • Citation Number : TS-387-ITAT-2020(JPR)
  • Tax Payer : Sh. Shankar Lal Kumawat
High Court

HC: HC:Pending finalisation of scrutiny assessment, not justifiable reason to withhold refund u/s.241A

  • In Favour of Assessee
  • Citation Number : TS-386-HC-2020(DEL)
  • Tax Payer : Cooner Institute Of Health Care And Research Centre Pvt. Ltd
High Court

HC: Unexplained cash expenditure of land broker, neither allowable expenditure u/s.37 nor business loss u/s. 28

  • In Favour of Revenue
  • Citation Number : TS-385-HC-2020(GUJ)
  • Tax Payer : Manojbhai Bhupatrai Vadodaria
Income tax Appellate Tribunal

ITAT:Trust, ineligible for Sec. 11 exemption, can claim indexation benefit on mutual funds sale

  • In Favour of Assessee
  • Citation Number : TS-384-ITAT-2020(Mum)
  • Tax Payer : KWA Trust
Income tax Appellate Tribunal

ITAT:Legal / professional expenses on 'aborted' IPO, deductible 'revenue' expenditure

  • In Favour of Assessee
  • Citation Number : TS-383-ITAT-2020(JPR)
  • Tax Payer : Road Infrastructure Development Company of Rajasthan Ltd
Income tax Appellate Tribunal

ITAT: Quashes order u/s.201(1) as time-barred; Extended time-period u/s. 201(3) vide FA 2014 inapplicable to AY 2009-10

  • In Favour of Assessee
  • Citation Number : TS-382-ITAT-2020(DEL)
  • Tax Payer : HCL Technologies Ltd