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Rulings ( 11641 results )

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High Court

HC: Holds cancellation of Trust’s registration basis third party statement, devoid of satisfaction under Sec 12AA(3), unsustainable

Apr 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-326-HC-2022(CAL)
  • Tax Payer : Sanskriti Sagar
Income tax Appellate Tribunal

ITAT: Holds provisional & conditional registration under Sec.12AB for registered trust, improper; Remits for de novo consideration

Apr 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-329-ITAT-2022(Mum)
  • Tax Payer : Saifee Burhani Upliftment Trust
Income tax Appellate Tribunal

ITAT: Outsourcing charges paid by iRunway to US-subsidiary not FTS; Distinguishes between ‘make available’ & ‘make use’

Apr 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-331-ITAT-2022(Bang)
  • Tax Payer : IRunway India Private Limited
Income tax Appellate Tribunal

ITAT: Quashes Moin Qureshi's assessment as representative of French Architect Jean Louis Deniot

Apr 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-328-ITAT-2022(DEL)
  • Tax Payer : Moin Akhtar Qureshi
Income tax Appellate Tribunal

ITAT: Facilitating land acquisition by employee for Sun Pharma, ‘adventure in nature of trade’, taxable as business income

Apr 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-316-ITAT-2022(Ahd)
  • Tax Payer : Kanubhai M. Patel
Income tax Appellate Tribunal

ITAT: Quashes revisionary order against Tata Power over allowability of Rs.171 Cr. of interest on perpetual debt instruments

Apr 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-327-ITAT-2022(Mum)
  • Tax Payer : The Tata Power Co. Ltd
Income tax Appellate Tribunal

ITAT: Holds Tata AIG eligible for depreciation under Sec.32 & deduction of reinsurance premium of Rs.635 Cr. paid to Foreign Cos.

Apr 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-321-ITAT-2022(Mum)
  • Tax Payer : Tata AIG General Insurance Company Ltd
Income tax Appellate Tribunal

ITAT: Holds processing of return, basis tax audit report but contrary to jurisdictional HC rulings, legally vitiated

Apr 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-324-ITAT-2022(Mum)
  • Tax Payer : Kalpesh Synthetics Pvt Ltd
Supreme Court

SC: Approves Allahabad HC Full Bench judgment holding no deemed registration under Sec.12AA

Apr 27, 2022
  • In Favour of Revenue
  • Citation Number : TS-319-SC-2022
  • Tax Payer : Harshit Foundation Sehmalpur Jalalpur Jaunpur
Income tax Appellate Tribunal

ITAT: Rejects taxability as FTS & Sec.195 liability on reimbursement of seconded employees' salary to Toyota Corp.

Apr 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-315-ITAT-2022(Bang)
  • Tax Payer : Toyota Boshoku Automotive India Pvt. Ltd
Supreme Court

SC: Dismisses Assessee’s SLP on merits; Vacates attachment order basis CBDT’s tax-effect Circular

Apr 26, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-313-SC-2022
  • Tax Payer : M Pranuthi
High Court

HC: Denies writ against case transferred for effective & coordinated investigation, assessment

Apr 25, 2022
  • In Favour of Revenue
  • Citation Number : TS-310-HC-2022(GUJ)
  • Tax Payer : Kamlesh Rajnikant Shah
Income tax Appellate Tribunal

ITAT: Loss on abandoned projects, capital in nature, eligible for set off in relevant year

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-299-ITAT-2022(CHNY)
  • Tax Payer : Rudradev Aviation Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Condones delay of over 500 days in filing appeal before CIT(A) in non-resident's case

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-300-ITAT-2022(Bang)
  • Tax Payer : Suhas Suresh Shet
Income tax Appellate Tribunal

ITAT: Restores issue of allowability of depreciation on revalued building pursuant to conversion of firm into company

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-298-ITAT-2022(Bang)
  • Tax Payer : Sogefi MNR Filtration India Private Limited
Income tax Appellate Tribunal

ITAT: Computation under Sec.11(1)(a) basis actual receipts contrary to law; Allows computation based on actual income

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-308-ITAT-2022(PAN)
  • Tax Payer : Mineral Foundation of Goa
Income tax Appellate Tribunal

ITAT: Restores matter in EduNxt's case over royalty issue in light of SC ruling in Engineering Analysis

Apr 23, 2022
  • In Favour of None/NA
  • Citation Number : TS-302-ITAT-2022(Bang)
  • Tax Payer : EduNxt Global SDN BHD
Income tax Appellate Tribunal

ITAT: Allows expenditure incurred by Cineyug to retain infrastructure during temporary lull in business

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-301-ITAT-2022(Mum)
  • Tax Payer : Cineyug
Income tax Appellate Tribunal

ITAT: Rules on allowability of commission expense, ad hoc disallowance in Wuhan Research Institute’s case

Apr 23, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-280-ITAT-2022(DEL)
  • Tax Payer : Wuhan Research Institute of Post and Telecommunication India
High Court

HC: Follows other HCs in reassessment controversy; Quashes notice issued under old regime, grants Revenue liberty to reissue notices

Apr 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-309-HC-2022(KAR)
  • Tax Payer : Mohammed Mustafa