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Rulings ( 15488 results )

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Income tax Appellate Tribunal

ITAT:Allows interest-deduction of closed units to operational unit in light of pending winding-up proceedings

  • In Favour of Assessee
  • Citation Number : TS-458-ITAT-2017(DEL)
  • Tax Payer : Hindustan Vegetables Oils Corp.Ltd.
Income tax Appellate Tribunal

ITAT:Rejects AO's backdoor entry to initiate re-assessment taking shelter of Sec 150's extended timeline

  • In Favour of Assessee
  • Citation Number : TS-457-ITAT-2017(JPR)
  • Tax Payer : Vasudev Gangwani
Income tax Appellate Tribunal

ITAT:Running a department store, not property exploitation simpliciter; Rejects house property income characterization

  • In Favour of Assessee
  • Citation Number : TS-456-ITAT-2017(Mum)
  • Tax Payer : Asiatic Stores & Soda Fountain
High Court

HC:Shoots down ITAT's 'misdirected' missile at CAs/ICAI; Condones enormous appeal filing delay

  • In Favour of Assessee
  • Citation Number : TS-455-HC-2017(BOM)
  • Tax Payer : Vijay Vishin Meghani
Income tax Appellate Tribunal

ITAT:Additional depreciation u/s 32(1)(iia) not optional; Higher depreciation rates in books permissible under MAT

  • In Favour of Both, Partially
  • Citation Number : TS-454-ITAT-2017(DEL)
  • Tax Payer : Cairn India Ltd
High Court

HC:Confirms Sec 263 revision on Virbhadra Singh's HUF for disproportionately high agricultural income

  • In Favour of Assessee
  • Citation Number : TS-453-HC-2017(HP)
  • Tax Payer : Virbhadra Singh (HUF)
Income tax Appellate Tribunal

ITAT:No distinction between employees' & employer's contribution under PF Act; Allows deduction u/s 43B

  • In Favour of Assessee
  • Citation Number : TS-452-ITAT-2017(Kol)
  • Tax Payer : Teesta Valley Tea Co.
Income tax Appellate Tribunal

ITAT:Solar days relevant for Service PE ; Distinguishes ABB FZ-LLC ruling on virtual PE

  • In Favour of Assessee
  • Citation Number : TS-451-ITAT-2017(Bang)
  • Tax Payer : Electrical material Center Co. Ltd.
High Court

HC: Payment for shrink-wrapped software amounts to 'royalty'

  • In Favour of Assessee
  • Citation Number : TS-227-HC-2011(KAR)
  • Tax Payer : IBM India Ltd
Supreme Court

SC:Depreciation mandatory for Chapter VI-A deduction; 'Mahendra Mills' ratio not applicable

  • In Favour of Revenue
  • Citation Number : TS-450-SC-2017
  • Tax Payer : Plastibends India Ltd
High Court

HC:Distinguishes between power 'to do' and 'redo'; Limitation u/s 153 inapplicable to remand proceedings

  • In Favour of Revenue
  • Citation Number : TS-449-HC-2017(MAD)
  • Tax Payer : Home Finders Housing Limited
Income tax Appellate Tribunal

ITAT:No STCG absent extinguishment of 'block of asset' in amalgamating company's hands

  • In Favour of Assessee
  • Citation Number : TS-448-ITAT-2017(Bang)
  • Tax Payer : Makino India Private Limited
Income tax Appellate Tribunal

ITAT:Deeming fiction u/s. 50C not applicable to transfer of leasehold rights in land

  • In Favour of Assessee
  • Citation Number : TS-447-ITAT-2017(Mum)
  • Tax Payer : Liladhar R. Tandel
Income tax Appellate Tribunal

ITAT:Allows share trading loss set-off against non-delivery based F & O income

  • In Favour of Assessee
  • Citation Number : TS-446-ITAT-2017(Mum)
  • Tax Payer : Satguru Capital and Finance Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes Sec. 271(1)(c) penalty levied for unexplained credit addition u/s. 68 in quantum proceedings

  • In Favour of Assessee
  • Citation Number : TS-445-ITAT-2017(Ahd)
  • Tax Payer : Jayantilal K. Harsora
Supreme Court

SC:No 'transfer' u/s 2(47)(v) absent registration of JDA; Upholds capital gains tax deletion

  • In Favour of Assessee
  • Citation Number : TS-444-SC-2017
  • Tax Payer : Balbir Singh Maini
Income tax Appellate Tribunal

ITAT:Investment before extended return filing due date u/s. 139(4) eligible for Sec 54 housing exemption

  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2017(Ahd)
  • Tax Payer : Anita Ajay Shad
Income tax Appellate Tribunal

ITAT:Applies CBDT circular on Sec.40(a)(ia) to NR-payments, dismisses appeal as revenue neutral

  • In Favour of Assessee
  • Citation Number : TS-442-ITAT-2017(Ahd)
  • Tax Payer : DCIT vs Ascendum Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Hoardings rent received by co-operative society taxable as 'house property income'

  • In Favour of Assessee
  • Citation Number : TS-441-ITAT-2017(Ahd)
  • Tax Payer : Bimanagar Co. Op. Housing Society Ltd
Income tax Appellate Tribunal

ITAT:Seized cash not 'cash in hand', quashes wealth tax liability

  • In Favour of Assessee
  • Citation Number : TS-440-ITAT-2017(HYD)
  • Tax Payer : B. Rajeswar Rao