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Rulings ( 12429 results )

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Supreme Court

SC: Dismisses Assessee’s SLP on disallowance of cash transaction u/s 40A(3)

Apr 11, 2025
  • In Favour of Revenue
  • Citation Number : TS-374-SC-2025
  • Tax Payer : Natesan Krishnamurthy
High Court

HC: Rejects Sec. 72A application against correct WDV adjustment, sans carry forward of unabsorbed depreciation

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-370-HC-2025(BOM)
  • Tax Payer : Technova Imaging Systems Limited
Income tax Appellate Tribunal

ITAT: Allows assessee's appeal citing benefit of indexation available from date of allotment of property

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2025(Mum)
  • Tax Payer : Lakshminarayan Realfinvest Limited
Income tax Appellate Tribunal

ITAT: AO’s view of allowing contribution to Core SGF as per SEBI-Circular, plausible; Quashes revision

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-354-ITAT-2025(Mum)
  • Tax Payer : National Stock Exchange of India Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 272A(1)(d) given Assessee complied with subsequent Sec. 142(1) notices

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-358-ITAT-2025(Mum)
  • Tax Payer : Shilpa Shetty Kundra
Income tax Appellate Tribunal

ITAT: Quashes revision, share premium taxability u/s 56(2)(viib) beyond limited scope of scrutiny

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-359-ITAT-2025(Mum)
  • Tax Payer : Acron Hospitality Private Limited
Income tax Appellate Tribunal

ITAT: Allows foreign-co.’s additional legal claim for 20% tax u/s 115A; Relies on NTPC judgment

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2025(Mum)
  • Tax Payer : Mahindra Overseas Investment Company (Mauritius) Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271(1)(c) given Assessee duly proved there’s no income concealment

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-357-ITAT-2025(Mum)
  • Tax Payer : Brindaban III Co-operative Housing Society Ltd
Income tax Appellate Tribunal

ITAT: Nuisance maker, occupying land illegally, not taxable for settlement deal receipts

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-367-ITAT-2025(Mum)
  • Tax Payer : Mohammed Fakhre Alam Shaikh
Income tax Appellate Tribunal

ITAT: Hands Private Discretionary trusts a big win on surcharge issue; Rejects Revenue's case

Apr 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-366-ITAT-2025
  • Tax Payer : Araadhya Jain Trust
Income tax Appellate Tribunal

ITAT: CIT order revising order giving effect to ITAT ruling lacks jurisdiction, void ab initio

Apr 09, 2025
  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2025(CHNY)
  • Tax Payer : Saint Gobain India Private Ltd
High Court

HC: Sec. 50C applies to assigned leasehold property transfers, wide scope of word ‘transfer’ u/s 50C

Apr 09, 2025
  • In Favour of Revenue
  • Citation Number : TS-363-HC-2025(BOM)
  • Tax Payer : Vidarbha Veneere Industries Ltd
Income tax Appellate Tribunal

ITAT: Cancellation of trust’s registration u/s 12AB unsustainable given legal infirmities on Revenue’s part

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-355-ITAT-2025(Bang)
  • Tax Payer : Sri Srinivasa Educational and Charitable Trust
Income tax Appellate Tribunal

ITAT: Quashes CIT(E)-order denying registration u/s 12AB basis object to carry-out activity outside India

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-345-ITAT-2025(Mum)
  • Tax Payer : Dedhia Music Foundation
Income tax Appellate Tribunal

ITAT: Deletes Sec. 270A penalty citing bonafide mistake in filing revised ITR on tax representative’s advice

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-353-ITAT-2025(Mum)
  • Tax Payer : Arun Narayan Chavan
Income tax Appellate Tribunal

ITAT: Penalty u/s 271(b) cannot be imposed for each & every non-complied notice

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-340-ITAT-2025(Mum)
  • Tax Payer : Yogita Yashwant Baing
High Court

HC: ICICI Bank's gains don't justify disallowing ICICI Securities' business expense; Allows client assistant expense

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-356-HC-2025(BOM)
  • Tax Payer : ICICI Securities Limited
High Court

HC: Retention of seized jewellery unjustified for recovery of subsequent AYs' outstanding-tax; Directs release

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-352-HC-2025(GUJ)
  • Tax Payer : Nayanaben Hasmukhbhai Patel & Ors
Income tax Appellate Tribunal

ITAT: Shares held as ‘stock in trade’ in regular course of business, not within Sec. 56(2)(viia) purview

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-351-ITAT-2025(Mum)
  • Tax Payer : Utility Supply Private Limited
Income tax Appellate Tribunal

ITAT: Realization of NPAs by Trusts not ARC’s income, deletes addition of upside income

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-350-ITAT-2025(Mum)
  • Tax Payer : Asset Reconstruction Company (India) Ltd