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Rulings ( 15462 results )

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Income tax Appellate Tribunal

ITAT:Dismisses Revenue's recall of 'penny stock' appeal citing subsequent exception to CBDT's low tax-effect circular

  • In Favour of Assessee
  • Citation Number : TS-381-ITAT-2020(JPR)
  • Tax Payer : Shri Krishan kumar Gupta
Foreign Court

FC: Ugandan Tribunal: Permits Coca-Cola franchisee to deposit 30 disputed tax in instalments amidst Covid-pandemic, grants stay

  • Citation Number : TS-722-FC-2020(UGD)
  • Tax Payer : Century Bottling Company Limited
Income tax Appellate Tribunal

ITAT:Receipt by daughter-in-law for non-interference with licensed-property possession, non-taxable

  • In Favour of Assessee
  • Citation Number : TS-380-ITAT-2020(Mum)
  • Tax Payer : Yogini Mohit Sahita
Income tax Appellate Tribunal

ITAT: ITAT:Rules on scope of interest disallowance, investments for Sec. 14A purposes

  • In Favour of Assessee
  • Citation Number : TS-379-ITAT-2020(DEL)
  • Tax Payer : Religare Securities Ltd
Income tax Appellate Tribunal

ITAT: ITAT: IBM India's Sec 10AA claim allowable, including on incremental income arising pursuant to APA

  • In Favour of Assessee
  • Citation Number : TS-378-ITAT-2020(Bang)
  • Tax Payer : IBM India Pvt. Ltd.,
Income tax Appellate Tribunal

ITAT: ITAT:No TDS u/s. 194C on Newspaper co.'s payment for purchase of saleable advertising space in TOI publication

  • In Favour of Assessee
  • Citation Number : TS-376-ITAT-2020(Bang)
  • Tax Payer : Metropolitan Media Company Limited
Income tax Appellate Tribunal

ITAT:Grants expenditure deduction on ex-Googler's consultancy income; Cites subsequently legislated presumptive scheme u/s. 44ADA

  • In Favour of Assessee
  • Citation Number : TS-375-ITAT-2020(HYD)
  • Tax Payer : Amitabh Verma
Income tax Appellate Tribunal

ITAT:Rejects recharacterisation of 'capital-reserve' from amalgamation; Deletes MAT-addition on 'taken-over' Indiabulls shares-sale

  • In Favour of Assessee
  • Citation Number : TS-374-ITAT-2020(DEL)
  • Tax Payer : Hespera Realty Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Withdraws reference to special bench on Sec. 254(2A) amendment curtailing Tribunal's stay powers

  • In Favour of Assessee
  • Citation Number : TS-373-ITAT-2020(Mum)
  • Tax Payer : Tata Education and Development Trust
High Court

HC:Sec. 40(a)(ia) amendment extending payment upto ROI due-date, curative and 'retrospective'

  • In Favour of Assessee
  • Citation Number : TS-372-HC-2020(KAR)
  • Tax Payer : A.Y. Garments International Private Ltd
High Court

HC:Quashes bank-account attachment u/s. 281B citing taxation debatability of amount received under 'family arrangement'

  • In Favour of Assessee
  • Citation Number : TS-371-HC-2020(CAL)
  • Tax Payer : Abul Kalam
Supreme Court

SC: Upholds Sec. 40(a)(ia) disallowance on amounts 'paid', follows Palam Gas ruling

  • In Favour of Revenue
  • Citation Number : TS-370-SC-2020
  • Tax Payer : Shree Choudhary Transport Company
High Court

HC:Upholds Rule 8D invocation for assessee's failure to make 'indirect expenses' disallowance u/s. 14A

  • In Favour of Revenue
  • Citation Number : TS-369-HC-2020(MAD)
  • Tax Payer : Tamilnadu Industrial Development Corporation Limited
Income tax Appellate Tribunal

ITAT:Reverses LTCG offered on subsequently cancelled property-sale; Upholds assessee's right to claim reversal

  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2020(Mum)
  • Tax Payer : Futura Polyster Limited
Income tax Appellate Tribunal

ITAT:Gross revenue, not net income, relevant for calculating Trust's set apart amount u/s. 11(1)

  • In Favour of Assessee
  • Citation Number : TS-367-ITAT-2020(Kol)
  • Tax Payer : Eastern Zonal Cultural Centre
Income tax Appellate Tribunal

ITAT:Accepts 'turnover' benchmark for allocating director's remuneration qua eligible vs. non eligible units u/s.80IA

  • In Favour of Assessee
  • Citation Number : TS-366-ITAT-2020(Kol)
  • Tax Payer : A.P. Fashions Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Assessment on Genpact 'void ab initio'; Deletes over Rs. 2600 cr.share-buyback addition

  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2020(DEL)
  • Tax Payer : Genpact India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Land sale by assessee engaged in property liasoning, assessable as business income; Rejects Sec.50C applicability

  • In Favour of Assessee
  • Citation Number : TS-364-ITAT-2020(RAN)
  • Tax Payer : Shri Ajay Kumar
Income tax Appellate Tribunal

ITAT:Depreciation cant be disallowed once farmhouse enters 'building' block; Subsequent user test irrelevant

  • In Favour of Assessee
  • Citation Number : TS-363-ITAT-2020(DEL)
  • Tax Payer : Kay Jay Auto Ltd
Income tax Appellate Tribunal

ITAT: ITAT:Deletes Morgan Stanley's 'excessive' remuneration disallowance u/s. 40A(2); Employment in capital markets command 'higher' price

  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2020(Mum)
  • Tax Payer : Morgan Stanley India Company Private Limited