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Rulings ( 15468 results )

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High Court

HC:Essar Shipping's loan waiver, not taxable u/s 28(iv);Cites Mahindra & Mahindra's SC decision

  • In Favour of Assessee
  • Citation Number : TS-171-HC-2020(BOM)
  • Tax Payer : Essar Shipping Limited
High Court

HC:Copy of Kerala HC order granting relief from tax dues, now stayed by SC

  • In Favour of Both, Partially
  • Citation Number : TS-170-HC-2020(KER)
  • Tax Payer : High Court Suo Moto
Supreme Court

SC:Excess depreciation claimed inadvertently, not 'tax evasion' attracting additional tax under erstwhile Sec. 143(1-A)

  • In Favour of Assessee
  • Citation Number : TS-169-SC-2020
  • Tax Payer : Rajasthan State Electricity Board
Income tax Appellate Tribunal

ITAT:Stake-acquisition in demerged business doesn't tantamount to 'business' of dealing in shares

  • In Favour of Revenue
  • Citation Number : TS-168-ITAT-2020(DEL)
  • Tax Payer : Quippo Telecom Infrastructure Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Issue of redeemable debentures to sister-concern, not loan” for deemed dividend purposes u/s.2(22)(e)

  • In Favour of Both, Partially
  • Citation Number : TS-167-ITAT-2020(Mum)
  • Tax Payer : Jasubhai Engineering Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Dividend income from 'specified' foreign companies u/s. 115BBD eligible for set-off against business income

  • In Favour of Assessee
  • Citation Number : TS-166-ITAT-2020(Mum)
  • Tax Payer : Tata Motors Ltd
Income tax Appellate Tribunal

ITAT:2018 amendment prescribing 'tolerance limit' u/s. 43CA deeming stamp value based taxation for builders, retrospective

  • In Favour of Assessee
  • Citation Number : TS-165-ITAT-2020(Mum)
  • Tax Payer : Faber Construction
Income tax Appellate Tribunal

ITAT:'Profit', not gross receipts relevant for determining foreign tax rate to claim relief u/s.91

  • In Favour of Revenue
  • Citation Number : TS-164-ITAT-2020(Ahd)
  • Tax Payer : Virmati Software & Telecommunication Limited
High Court

HC:After Rajasthan HC, Bombay HC allows deduction for 'education cess'; Sec. 40(a)(ii) inapplicable

  • In Favour of Assessee
  • Citation Number : TS-163-HC-2020(BOM)
  • Tax Payer : Sesa Goa Limited
High Court

HC: Allows assessment initiation under Black Money Law pending constitutional validity challenge

  • In Favour of Both, Partially
  • Citation Number : TS-162-HC-2020(BOM)
  • Tax Payer : Anila Rasiklal Mehta and others
High Court

HC:Sec 44BB inapplicable when NR's software services to Oil industry 'takes color of royalty/FTS'

  • In Favour of Assessee
  • Citation Number : TS-161-HC-2020(DEL)
  • Tax Payer : Paradigm Geophysical Pty Ltd
Income tax Appellate Tribunal

ITAT: "Internal decision” taken between related concerns, no ground for allowing advances write-off claim

  • In Favour of Revenue
  • Citation Number : TS-160-ITAT-2020(Bang)
  • Tax Payer : Tektronix (India) Pvt. Ltd
High Court

HC: Rejects notional set-off of 'lapsed losses' for Sec.80IA deduction computation; Allows Vodafone-Essar's plea

  • In Favour of Assessee
  • Citation Number : TS-159-HC-2020(GUJ)
  • Tax Payer : VODAFONE ESSAR GUJARAT LIMITED
Income tax Appellate Tribunal

ITAT:Mere non-furnishing of TRC cannot deny treaty benefits; Cites Skaps Industries ruling

  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2020(HYD)
  • Tax Payer : Sreenivasa Reddy Cheemalamarri
Income tax Appellate Tribunal

ITAT:Transfer of property through GPA by assessee in children's favour, not 'transfer' attracting capital gains

  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2020(HYD)
  • Tax Payer : Smt. R.Mangala Devi
High Court

HC:Declines to admit Revenue's appeal; Remuneration to director not involved in 'daily' affairs, allowable

  • In Favour of Assessee
  • Citation Number : TS-156-HC-2020(BOM)
  • Tax Payer : VVF Ltd
Income tax Appellate Tribunal

ITAT:Allows deduction for loss suffered due to fraud and embezzlement by employee of assessee-bank

  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2020(NAG)
  • Tax Payer : The Washim Urban Co-Operative Bank Ltd
Income tax Appellate Tribunal

ITAT:Education cess, not 'tax' for Sec.40(a)(ii) purposes; Deletes disallowance citing Chambal Fertilizers HC-ruling

  • In Favour of Assessee
  • Citation Number : TS-154-ITAT-2020(DEL)
  • Tax Payer : Sicpa India Private Ltd
High Court

HC:Interest paid by taxpayer for delay in allotment of shares, CAPEX not Revenue

  • In Favour of Revenue
  • Citation Number : TS-153-HC-2020(KAR)
  • Tax Payer : GMR Industries Ltd
Income tax Appellate Tribunal

ITAT: Denies depreciation on 'revalued' trademark to successor-company, invokes 5th proviso to Sec.32(1)

  • In Favour of Revenue
  • Citation Number : TS-152-ITAT-2020(Mum)
  • Tax Payer : PIK Studios P. Ltd