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Rulings ( 15488 results )

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High Court

HC: Deletes Sec. 43B addition for unpaid VAT not routed through P&L account

  • In Favour of Assessee
  • Citation Number : TS-254-HC-2017(CHAT)
  • Tax Payer : Ganapati Motors
High Court

HC: Upholds Sec. 68 addition for unexplained share-application money, assessee failed to establish contributors' credit-worthiness

  • In Favour of Revenue
  • Citation Number : TS-253-HC-2017(MAD)
  • Tax Payer : B.R.Petrochem Pvt. Ltd
Income tax Appellate Tribunal

ITAT:No denial of charity exemption u/s. 11 for change in Trust's objects aiming pan-India presence

  • In Favour of Assessee
  • Citation Number : TS-252-ITAT-2017(Mum)
  • Tax Payer : Rajasthani Seva Sangh
High Court

HC:Penalty settlement sans assessee's dispute, within DRS purview; Rejects 'restrictive interpretation' plea

  • In Favour of Assessee
  • Citation Number : TS-251-HC-2017(KER)
  • Tax Payer : GRIHALAKSHMI FILMS
High Court

HC:Condones unfathomable appeal filing delay, cites wrong professional advice; Explains mitigating factors

  • In Favour of Assessee
  • Citation Number : TS-250-HC-2017(MAD)
  • Tax Payer : United Christmas Celebration
Income tax Appellate Tribunal

ITAT:Allows sharing of consideration between taxpayer and builder upon 're-developed flat' sale

  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2017(Mum)
  • Tax Payer : Akshay J. Doshi
High Court

HC: Non-disposal of taxpayer's objections to Sec. 148 notice vitiates reassessment, not re-opening notice

  • In Favour of Assessee
  • Citation Number : TS-248-HC-2017(ALL)
  • Tax Payer : Modinagar Rolls Ltd.
Income tax Appellate Tribunal

ITAT: Investing 'substantial' capital gains in new flat, sufficient u/s. 54; Relaxes construction completion condition

  • In Favour of Assessee
  • Citation Number : TS-247-ITAT-2017(CHANDI)
  • Tax Payer : Bhavna Cuccria
High Court

HC:Dutch co.'s Indian share sale not taxable; Repudiates Revenue's paradoxical approach to invoke Art 13(4)

  • In Favour of Assessee
  • Citation Number : TS-246-HC-2017(AP)
  • Tax Payer : Vanenburg Facilities BV
Income tax Appellate Tribunal

ITAT:Share deposit in escrow results in 'cessation of control', triggers transfer u/s 2(47)

  • In Favour of Revenue
  • Citation Number : TS-245-ITAT-2017(Bang)
  • Tax Payer : Mangala Investments Ltd.
Income tax Appellate Tribunal

ITAT:Applying Rule 8D mandatory despite no expenditure incurred; Statutory presumption supersedes factual evidence

  • In Favour of Revenue
  • Citation Number : TS-244-ITAT-2017(CHNY)
  • Tax Payer : Mr. M. A. Alagappan
Income tax Appellate Tribunal

ITAT:Usage of borrowed funds for Trust's objects doesn't tantamount to income application u/s11

  • In Favour of Revenue
  • Citation Number : TS-243-ITAT-2017(Bang)
  • Tax Payer : Peoples Education Society
Income tax Appellate Tribunal

ITAT:Holds land sale as capital gains, not business; 'Non-agricultural' conversion, borrowing irrelevant

  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2017(Ahd)
  • Tax Payer : Hiteshkumar Ashokkumar Vaswani
High Court

HC:Upholds settlement applications, taxpayer's additional disclosure, not 'substantial', distinguishes Ajmera Housing ruling

  • In Favour of Assessee
  • Citation Number : TS-241-HC-2017(GUJ)
  • Tax Payer : Principal Commissioner of Income Tax
Income tax Appellate Tribunal

ITAT: Bonus stripping u/s 94(8) not applicable on 'share-sale' transaction; Follows co-ordinate bench

  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2017(PUN)
  • Tax Payer : Adar Poonawalla
Income tax Appellate Tribunal

ITAT:Liquidated damages, though received as part of land-sale consideration, assessable as 'income from other sources'

  • In Favour of Revenue
  • Citation Number : TS-239-ITAT-2017(Mum)
  • Tax Payer : New Holland Fiat (I) Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Upholds Sec. 271(1)(c) penalty, confirms income concealment based on AIR details

  • In Favour of Revenue
  • Citation Number : TS-238-ITAT-2017(CHNY)
  • Tax Payer : Gangotri Textiles Limited
Income tax Appellate Tribunal

ITAT:Reverses earlier ruling, quashes Sec. 263 order citing AO's examination in MA proceedings

  • In Favour of Both, Partially
  • Citation Number : TS-237-ITAT-2017(Mum)
  • Tax Payer : Sumitomo Chemical India (P) Ltd
High Court

HC:Rejects rectification application; Original assessment not remand proceeding relevant for Sec 154 limitation

  • In Favour of Revenue
  • Citation Number : TS-236-HC-2017(ALL)
  • Tax Payer : Shri Nav Durga Bansal Cold Storage & Ice Factory
High Court

HC:Sets-aside ITAT order, denies capital gains exemption upon proprietorship succession by company

  • In Favour of Assessee
  • Citation Number : TS-235-HC-2017(KER)
  • Tax Payer : Shri. K. V. Mohammed Zakir