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Rulings ( 15488 results )

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High Court

HC:Clarifies wealth-tax liability on cash for proprietorships statutorily required to maintain books

  • In Favour of Assessee
  • Citation Number : TS-458-HC-2018(KER)
  • Tax Payer : P.A.JOSE
High Court

HC:Upholds denial of Sec.80-IB deduction absent Assessee's control over outsourced manufacturing activity

  • In Favour of Revenue
  • Citation Number : TS-457-HC-2018(BOM)
  • Tax Payer : Daman Computers Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Disses Revenue for terming as 'fake', Tendulkar's tenant hunt; Grants vacancy allowance

  • In Favour of Assessee
  • Citation Number : TS-456-ITAT-2018(Mum)
  • Tax Payer : Shri Sachin R. Tendulkar
Income tax Appellate Tribunal

ITAT:Deletes Rs. 436 cr capital-gains addition on slump-sale, rejects FMV substitution invoking Sec 50D/92BA

  • In Favour of Assessee
  • Citation Number : TS-455-ITAT-2018(Ahd)
  • Tax Payer : Gujarat Fluorochemicals Ltd.
Income tax Appellate Tribunal

ITAT:15 accumulation benefit not available on deemed income out of earlier accumulations

  • In Favour of Revenue
  • Citation Number : TS-454-ITAT-2018(Bang)
  • Tax Payer : KSRTC Passengers Accident Relief Fund Trust
Income tax Appellate Tribunal

ITAT:Approves Trust's preference to construe application from accumulations u/s 11(2) over current income

  • In Favour of Assessee
  • Citation Number : TS-453-ITAT-2018(Bang)
  • Tax Payer : Infosys Science Foundation
Income tax Appellate Tribunal

ITAT:Non-examination of Sec. 80-IC eligibility conditions in later years, cannot make assessment order 'erroneous'

  • In Favour of Assessee
  • Citation Number : TS-452-ITAT-2018(DEL)
  • Tax Payer : Ganpati Herbal Care (P) Ltd
Income tax Appellate Tribunal

ITAT:UB group's inter-company transactions lack business expediency, dismisses write-off claim on default

  • In Favour of Assessee
  • Citation Number : TS-451-ITAT-2018(Kol)
  • Tax Payer : Kamsco Industries Pvt Ltd.
Income tax Appellate Tribunal

ITAT:Disallows pre-operative expenses; Subcontract for manufacturing tools/jigs for setting-up own manufacturing facility irrelevant

  • In Favour of Assessee
  • Citation Number : TS-450-ITAT-2018(Mum)
  • Tax Payer : Tata Lockheed Martin Aerostructures Ltd
Income tax Appellate Tribunal

ITAT:Donation from current year income, to other charitable organzation constitutes 'income application'

  • In Favour of Assessee
  • Citation Number : TS-449-ITAT-2018(DEL)
  • Tax Payer : KPMG Foundation
Supreme Court

SC:Dismisses SLP against HC rejecting capital-gains taxability on asset revaluation by firm

  • In Favour of Assessee
  • Citation Number : TS-447-SC-2018
  • Tax Payer : RAVISHANKAR R SINGH
High Court

HC:Treats payment for getting rid of encumbrances in property as part of 'acquisition cost'

  • In Favour of Assessee
  • Citation Number : TS-446-HC-2018(CAL)
  • Tax Payer : ADITYA KUMAR JAJODIA
Income tax Appellate Tribunal

ITAT:Allows deduction for 'freebies' to doctors, MCI regulations inapplicable to Pharma Co

  • In Favour of Assessee
  • Citation Number : TS-445-ITAT-2018(Mum)
  • Tax Payer : Aristo Pharmaceuticals Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Allows interest deduction to builder for loan taken for acquiring development rights

  • In Favour of Assessee
  • Citation Number : TS-444-ITAT-2018(Mum)
  • Tax Payer : Ashish Land & Property Developers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Explains purport of Expl 2(a) to Sec 263, quashes revision of 'detailed' assessment order

  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2018(Ahd)
  • Tax Payer : Torrent Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT:Firm's payment to retiring partner on family settlement, deductible from business income

  • In Favour of Assessee
  • Citation Number : TS-442-ITAT-2018(CHNY)
  • Tax Payer : Anjappar Chettinad A/C Restaurant
Income tax Appellate Tribunal

ITAT:Additional disallowance in final assessment order in deviation from draft order, impermissible

  • In Favour of Assessee
  • Citation Number : TS-441-ITAT-2018(Mum)
  • Tax Payer : Piramal Enterprises Ltd
High Court

HC:Allows IPR depreciation to trading co.despite not 'put-to-use' for manufacturing activities

  • In Favour of Assessee
  • Citation Number : TS-440-HC-2018(DEL)
  • Tax Payer : SINOCHEM INDIA CO. PVT. LTD
Income tax Appellate Tribunal

ITAT:Compensation for discontinuing commodity trading, taxable; Rejects loss of income source claim

  • In Favour of Revenue
  • Citation Number : TS-439-ITAT-2018(COCH)
  • Tax Payer : Geojit Investment Services Limited
High Court

HC:No 'charity' in implementing welfare schemes of Government, denies registration u/s. 12AA

  • In Favour of Revenue
  • Citation Number : TS-438-HC-2018(KER)
  • Tax Payer : Annadan Trust