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Rulings ( 11646 results )

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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
Income tax Appellate Tribunal

ITAT: Profit attribution in Alcatel Lucent, Portugal's case basis group entity's order, invalid; Directs de novo adjudication

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-239-ITAT-2022(DEL)
  • Tax Payer : Alcatel Lucent Portugal, SA
Income tax Appellate Tribunal

ITAT: Holds Sec. 69C inapplicable, Revenue’s apprehension of non-existence of creditor over failure to deliver summons unfounded

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-243-ITAT-2022(Mum)
  • Tax Payer : Seven Jewels
Income tax Appellate Tribunal

ITAT: Allows Sec. 10A exemption after denial under Sec.10B where Assessee met requisite conditions

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2022(PUN)
  • Tax Payer : Clarion Technologies Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds disallowance of depreciation on speedboat, earlier allowed due to limited scrutiny

Apr 02, 2022
  • In Favour of Revenue
  • Citation Number : TS-237-ITAT-2022(Mum)
  • Tax Payer : Great White Goal P. Ltd
Income tax Appellate Tribunal

ITAT: Limitation under Sec.263 to be reckoned from assessment order where subject matter of revision not covered in reassessment order

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2022(Kol)
  • Tax Payer : Alkem Laboratories Limited
Income tax Appellate Tribunal

ITAT: Allows Reckitt Benckiser’s claim under Sec.80-IC on unrealised foreign exchange gain

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2022(Ahd)
  • Tax Payer : Reckitt Benckiser Healthcare India Ltd
Income tax Appellate Tribunal

ITAT: Treats parking space not attached to flat under purchase agreement as independent asset for capital gains

Apr 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-241-ITAT-2022(Mum)
  • Tax Payer : Anjan Shivraju Prakash
High Court

HC: Directs CIT to decide Tata Teleservices' stay application on basic principles against Rs.42.40 Cr demand

Apr 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-244-HC-2022(DEL)
  • Tax Payer : Tata Teleservices Limited
Income tax Appellate Tribunal

ITAT: Young Indian taxable for AJL’s property valued at over Rs.350 Cr. as benefit under Sec.28(iv)

Mar 31, 2022
  • In Favour of Revenue
  • Citation Number : TS-234-ITAT-2022(DEL)
  • Tax Payer : Young Indian
Income tax Appellate Tribunal

ITAT: Payment for 'Rummy' banner ​on Facebook not Royalty​/FTS; Application under Sec.195(2) not ​mandatory

Mar 31, 2022
  • In Favour of Assessee
  • Citation Number : TS-233-ITAT-2022(Mum)
  • Tax Payer : Play Games 24X7 Private Limited
High Court

HC: SLP not proceeding under Act; Holds continued retention of title deed pursuant to search unjustified

Mar 31, 2022
  • In Favour of Assessee
  • Citation Number : TS-231-HC-2022(KER)
  • Tax Payer : Udaya Sounds
Income tax Appellate Tribunal

ITAT: Dismisses Revenue's batch of 280 MA​s as attempt for review in garb of rectification

Mar 31, 2022
  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2022(Mum)
  • Tax Payer : GE Capital Services India and Others
High Court

HC: Accepts FAO’s apology for passing order in reassessment proceedings contrary to Court's order

Mar 31, 2022
  • In Favour of Assessee
  • Citation Number : TS-230-HC-2022(BOM)
  • Tax Payer : Bharat Capital And Holdings Limited
Income tax Appellate Tribunal

ITAT: Upholds preference shares' valuation based on dividend discount model for Sec.56(2)(viib)

Mar 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-223-ITAT-2022(Mum)
  • Tax Payer : Kilitch Healthcare India Ltd
Income tax Appellate Tribunal

ITAT: Upholds deletion of penalty under BMA on non-disclosure of foreign bank account, in original return, held in fiduciary capacity

Mar 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-227-ITAT-2022(Mum)
  • Tax Payer : Leena Gandhi Tiwari
High Court

HC: Mere mention of 'misreporting' for denying immunity from penalty, manifestly arbitrary; Notice without 'specific limb', unreasonable

Mar 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-226-HC-2022(DEL)
  • Tax Payer : Schneider Electric South East Asia (Hq) Pte Ltd