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Rulings ( 15464 results )

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Income tax Appellate Tribunal

ITAT:Confirms penalty u/s. 271A for non-maintenace of books u/s.44AA though not mandated for specified books under Rule 6F

  • In Favour of Revenue
  • Citation Number : TS-286-ITAT-2020(CTK)
  • Tax Payer : Smt. Sanghamitra Pattnaik
High Court

HC:Non-compete fees to key-employees rendering services in US - 'Salary'; Grants treaty benefits

  • In Favour of Assessee
  • Citation Number : TS-285-HC-2020(KAR)
  • Tax Payer : Sasken Communication Technologies Ltd
High Court

HC:Accepts STCG treatment on sale of shares as 'investment' after conversion from stock pre-2018 amendment

  • In Favour of Assessee
  • Citation Number : TS-284-HC-2020(KAR)
  • Tax Payer : Kemfin Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT:No TDS liability u/s. 194A on Provision for Interest” where interest payable to individuals doesn't exceed Rs.2500

  • In Favour of Assessee
  • Citation Number : TS-283-ITAT-2020(DEL)
  • Tax Payer : SAHARA INDIA FINANCIAL CORPORATION LTD
Income tax Appellate Tribunal

ITAT:Guarantee fees payment to Dutch parent, neither interest nor FTS under DTAA

  • In Favour of Assessee
  • Citation Number : TS-282-ITAT-2020(DEL)
  • Tax Payer : Lease Plan India Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Rejects AO's change of shares valuation method u/s. 56(2)(viib); Follows Bombay HC over Kerala HC

  • In Favour of Assessee
  • Citation Number : TS-281-ITAT-2020(Bang)
  • Tax Payer : VBHC Value Homes Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quashes AO's action u/s. 154 in invoking taxability u/s.115BBE for 'undisclosed investment' assessed as 'business income'

  • In Favour of Assessee
  • Citation Number : TS-280-ITAT-2020(JPR)
  • Tax Payer : Shri Sudesh Kumar Gupta
Income tax Appellate Tribunal

ITAT:Can't convert 'limited scrutiny' to 'complete scrutiny' based on suspicion; Quashes assessment

  • In Favour of Assessee
  • Citation Number : TS-279-ITAT-2020(DEL)
  • Tax Payer : Dev Milk Foods Pvt. Ltd
High Court

HC:No cash credit addition u/s. 68 for accomodation entry provider earning only commission thereon

  • In Favour of Assessee
  • Citation Number : TS-278-HC-2020(BOM)
  • Tax Payer : Alag Securities Pvt. Ltd
High Court

HC: Specific charge for penalty levy in assessment order, though not in notice u/s. 271(1)(c), sufficient

  • In Favour of Both, Partially
  • Citation Number : TS-277-HC-2020(BOM)
  • Tax Payer : Ventura Textiles Ltd
High Court

HC: Allows loss carry forward benefit to Aberdeen's investment series (funds)

  • In Favour of Assessee
  • Citation Number : TS-276-HC-2020(BOM)
  • Tax Payer : Aberdeen Asia Pacific Including Japan Equity Fund
Income tax Appellate Tribunal

ITAT:Rejects profits attribution to alleged DAPE considering arm's length remuneration to agent

  • In Favour of Assessee
  • Citation Number : TS-275-ITAT-2020(Mum)
  • Tax Payer : OT Africa Line Limited
Income tax Appellate Tribunal

ITAT:Treats sale of 'struck-off' company's shares as 'bogus'; Upholds Sec. 68 addition

  • In Favour of Revenue
  • Citation Number : TS-274-ITAT-2020(DEL)
  • Tax Payer : Himalayan Dairies Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Allows demerger expenses claim u/s. 35DD; Non-registration of property in transferee's name irrelevant

  • In Favour of Assessee
  • Citation Number : TS-273-ITAT-2020(Kol)
  • Tax Payer : Asian Hotels East Limited
Income tax Appellate Tribunal

ITAT:Adopts income shown in Form-26AS over TDS Certificate in Form-16A issued by payer

  • In Favour of Assessee
  • Citation Number : TS-272-ITAT-2020(Kol)
  • Tax Payer : Smt. Nirmali Bhadra
Income tax Appellate Tribunal

ITAT: Allows housing loan interest deduction; Family Settlement deed granting 'ownership' to assessee, not sham

  • In Favour of Assessee
  • Citation Number : TS-271-ITAT-2020(DDN)
  • Tax Payer : Sanjeev Jain
Supreme Court

SC:Dismisses SLP against HC order quashing re-opening notice issued on Marico

  • In Favour of Assessee
  • Citation Number : TS-270-SC-2020
  • Tax Payer : Marico Ltd
Income tax Appellate Tribunal

ITAT:Agricultural land, not a 'capital asset'; Can't invoke Sec.56(2)(vii)(b) taxability

  • In Favour of Assessee
  • Citation Number : TS-269-ITAT-2020(JPR)
  • Tax Payer : Sh. Prem Chand Jain
Income tax Appellate Tribunal

ITAT: ITAT: Holds assessment on non-existent entity post amalgamation unsustainable, non-curable u/s. 292B

  • In Favour of Assessee
  • Citation Number : TS-268-ITAT-2020(Ahd)
  • Tax Payer : Intas Lifesciences Erstwhile known as Intas Pharmaceuticals Since merged with Intas Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT:Investment co-'s business 'commences' upon its first investment, incorporation date irrelevant for deduction u/s.35D

  • In Favour of Assessee
  • Citation Number : TS-267-ITAT-2020(Ahd)
  • Tax Payer : Addlife Investments Pvt. Ltd