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Income tax Appellate Tribunal
ITAT: Marked-to-market loss on valuation of CER, not contingent loss; Rejects Revenue's capital loss plea
Apr 09, 2022
- In Favour of Assessee
- Citation Number : TS-257-ITAT-2022(Kol)
- Tax Payer : Orient Cement Ltd
Income tax Appellate Tribunal
ITAT: Upholds surveillance fee's taxability as per CARE's accounting policy; Allows proportionate TDS credit
Apr 09, 2022
- In Favour of Both, Partially
- Citation Number : TS-1204-ITAT-2021(Mum)
- Tax Payer : Credit Analysis and Research Ltd
Income tax Appellate Tribunal
ITAT: Assessee's status as co-operative society prerequisite for Sec.80P deduction; Restores matter to CIT(A) for verification
Apr 09, 2022
- In Favour of Revenue
- Citation Number : TS-252-ITAT-2022(ALLD)
- Tax Payer : Sahkari Ganna Vikas Samiti
Income tax Appellate Tribunal
ITAT: Revenue to examine nature of payments made by Truly Madly to Apple, Google & LinkedIn for applicability of Sec.195
Apr 09, 2022
- In Favour of Assessee
- Citation Number : TS-260-ITAT-2022(DEL)
- Tax Payer : Trulymadly Matchmakers Private Limited
High Court
HC: Shows leniency to FAO as order passed in breach of guidelines on reassessment procedure stands withdrawn
Apr 09, 2022
- In Favour of Assessee
- Citation Number : TS-261-HC-2022(BOM)
- Tax Payer : Tata Capital Financial Services Limited
High Court
HC: Upholds Hamdard National Foundation's exemption, basis factual finding that scholarship not limited to particular community
Apr 09, 2022
- In Favour of Assessee
- Citation Number : TS-262-HC-2022(DEL)
- Tax Payer : HAMDARD NATIONAL FOUNDATION (INDIA)
High Court
HC: Prerequisite of sanction under Sec.151 by prescribed authority immune from extension under TOLA; Quashes reassessment notice
Apr 08, 2022
- In Favour of Assessee
- Citation Number : TS-264-HC-2022(BOM)
- Tax Payer : J M Financial and Investment Consultancy Services Private Limited
Supreme Court
SC: Directs Gujarat HC to pass speaking & reasoned order after recording parties' submissions; Allows Revenue's appeal
Apr 07, 2022
- In Favour of Revenue
- Citation Number : TS-256-SC-2022
- Tax Payer : Bajaj Herbals Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Upholds denial of Sec.11 exemption by invoking Sec.13 but remits appeal on plea of mutuality
Apr 07, 2022
- In Favour of Revenue
- Citation Number : TS-254-ITAT-2022(Mum)
- Tax Payer : Media Research Users Council
Income tax Appellate Tribunal
ITAT: Holds software development & CD writing independent businesses for Sec.80-IC deduction; Restores matter to CIT(A)
Apr 07, 2022
- In Favour of Both, Partially
- Citation Number : TS-235-ITAT-2022(PUN)
- Tax Payer : Biz Secure Labs Pvt. Ltd
High Court
HC: Quashes assessment order that resulted in demand of Rs.633.50 Cr. over disrupted VC hearing; Directs re-hearing
Apr 06, 2022
- In Favour of Assessee
- Citation Number : TS-251-HC-2022(GUJ)
- Tax Payer : Dr K R Shroff Foundation
Income tax Appellate Tribunal
ITAT: Accepts explanation on surrendered income absent contrary finding by Revenue; Sets aside protective addition basis substantive assessment
Apr 06, 2022
- In Favour of Assessee
- Citation Number : TS-249-ITAT-2022(Bang)
- Tax Payer : M.J. Mohan
Supreme Court
SC: Factually distinguishes Maruti Suzuki ruling to hold order in amalgamating company's name as valid; Directs ITAT to decide on merits
Apr 05, 2022
- In Favour of Revenue
- Citation Number : TS-248-SC-2022
- Tax Payer : Mahagun Realtors (P) Ltd
Income tax Appellate Tribunal
ITAT: Payment by Hyatt Regency for centralised chain marketing services not liable for TDS under Sec.195
Apr 05, 2022
- In Favour of Assessee
- Citation Number : TS-229-ITAT-2022(DEL)
- Tax Payer : Asian Hotels North Ltd
Income tax Appellate Tribunal
ITAT: Managerial Services, IC Labour Charges not taxable as FIS since 'make available clause' not satisfied
Apr 05, 2022
- In Favour of Assessee
- Citation Number : TS-247-ITAT-2022(DEL)
- Tax Payer : Everest Global Inc.
Income tax Appellate Tribunal
ITAT: Lenskart not liable for TDS on advertising expenses paid to Facebook Ireland, absent PE in India
Apr 04, 2022
- In Favour of Assessee
- Citation Number : TS-236-ITAT-2022(DEL)
- Tax Payer : Lenskart Solution (P) L
Supreme Court
SC: Dismisses RIL's SLP against denial of settlement under VsV Act; Clarifies on scope of Bombay HC's observations
Apr 04, 2022
- In Favour of Both, Partially
- Citation Number : TS-246-SC-2022
- Tax Payer : Reliance Industries Limited
High Court
HC: Directs NFAC to provide link for uploading stay petition, expeditious disposal; Stays recovery
Apr 04, 2022
- In Favour of Assessee
- Citation Number : TS-245-HC-2022(KER)
- Tax Payer : Mohamed Jazeel P A
Income tax Appellate Tribunal
ITAT: Draft order coupled with demand, penalty notice not final assessment order where Sec.144C regime duly followed
Apr 02, 2022
- In Favour of Both, Partially
- Citation Number : TS-210-ITAT-2022(HYD)
- Tax Payer : Caterpillar Global Mining Europe GMBH
Income tax Appellate Tribunal
ITAT: Sec.69A inapplicable on deposits made post-demonetisation since currency's value guaranteed till Dec 31, 2016
Apr 02, 2022
- In Favour of Assessee
- Citation Number : TS-238-ITAT-2022(VIZ)
- Tax Payer : Tatiparti Satyanarayan