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Rulings ( 11646 results )

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High Court

HC: Charter hire payments by L&T for 'tugs & barges' not taxable as royalty, covered by Sec.44BB

Mar 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-124-HC-2022(BOM)
  • Tax Payer : Larsen & Toubro Ltd.
Income tax Appellate Tribunal

ITAT: Recommends larger bench, considering 'larger picture, ground realities & financial manoeuvrings', on unexplained credits

Mar 02, 2022
  • In Favour of None/NA
  • Citation Number : TS-123-ITAT-2022(Mum)
  • Tax Payer : Lotus Logistics & Developers Ltd
High Court

HC: Mere omission to file correct return & maintain proper books lacks mens rea; Quashes prosecution

Mar 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-121-HC-2022(MAD)
  • Tax Payer : K.E.Gnanavel Raja
Income tax Appellate Tribunal

ITAT: Denies Sec.54 be​nefit for adjacent flat​ in merged residential property, absent municipal authorities' approval

Mar 01, 2022
  • In Favour of Revenue
  • Citation Number : TS-1201-ITAT-2021(Mum)
  • Tax Payer : Dipti Nalin Parikh
Income tax Appellate Tribunal

ITAT: Disallows duties, penalty u/s 43B paid on import of generator leased from promotor, since not otherwise allowable

Feb 28, 2022
  • In Favour of Revenue
  • Citation Number : TS-119-ITAT-2022(Bang)
  • Tax Payer : I.G.Petrochemicals Limited
Income tax Appellate Tribunal

ITAT: No addition of share premium u/s 68 as investment confirmed by Mauritian Revenue Authority & compliant with RBI Guidelines

Feb 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-120-ITAT-2022(DEL)
  • Tax Payer : Azure Retreat P] Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.69C addition absent Revenue’s rebuttal of Assessee’s explanation on source

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-101-ITAT-2022(DEL)
  • Tax Payer : Naresh Sharma
High Court

HC: Holds Assessee as ‘developer’ u/s 80-IB(10) due to entitlement to profit-share in approved project

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-113-HC-2022(BOM)
  • Tax Payer : Abode Builders
Income tax Appellate Tribunal

ITAT: Pre-shipment inspection & examination of products not taxable as technical & managerial services

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-118-ITAT-2022(DEL)
  • Tax Payer : Maharashtra Seamless Ltd
High Court

HC: Directs disposal of Nokia's rectification application within 6 weeks over refund claim of Rs.58.20 Cr.

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-110-HC-2022(DEL)
  • Tax Payer : Nokia India Private Limited
Income tax Appellate Tribunal

ITAT: Denies Sec.11 exemption absent real connection between construction activity & trust's objectives

Feb 26, 2022
  • In Favour of Revenue
  • Citation Number : TS-107-ITAT-2022(Bang)
  • Tax Payer : Zilla Nirmiti Kendra
Income tax Appellate Tribunal

ITAT: Delay in ITR-filing, no hindrance for capital gains exemption on investment in NHAI Bonds

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2022(SUR)
  • Tax Payer : Sabbirbhai Dawoodbhai Shaikh
Income tax Appellate Tribunal

ITAT: Upholds taxability of capital gains in year of irrevocable transfer of possession under development agreement

Feb 26, 2022
  • In Favour of Revenue
  • Citation Number : TS-115-ITAT-2022(HYD)
  • Tax Payer : Nancy Divakar Hospital & Research Centre Private Limited
Income tax Appellate Tribunal

ITAT: Holds consideration from sale of TDRs, a non-taxable capital receipt

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-102-ITAT-2022(Mum)
  • Tax Payer : Kirit Raojibhai Patel
Income tax Appellate Tribunal

ITAT: Quashes assessment orders passed beyond time limit u/s 153; Holds Sec.144C inapplicable prior to AY 2010-11

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2022(SUR)
  • Tax Payer : Bilag Industries Pvt. Ltd
High Court

HC: Allows VsV application as delay in filing appeal was condoned by ITAT; Holds CBDT Circular clarificatory

Feb 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-111-HC-2022(RAJ)
  • Tax Payer : Rakesh Garg
High Court

HC: CBDT's extension order for settlement, constitutionally valid; Assessment initiated after ITSC abolition, ineligible

Feb 25, 2022
  • In Favour of Revenue
  • Citation Number : TS-117-HC-2022(CAL)
  • Tax Payer : Pradeep Kumar Naredi
Income tax Appellate Tribunal

ITAT: ‘Informer Expenses’ integral to IPR investigation business; Holds Sec.69C addition as far-fetched

Feb 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-105-ITAT-2022(Mum)
  • Tax Payer : EIPR India Pvt. Ltd
High Court

HC: Directs CBDT to issue guidelines for reducing repetition of errors in reassessment proceedings

Feb 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-112-HC-2022(BOM)
  • Tax Payer : Tata Capital Financial Services Limited
Foreign Court

FC: Austrian Federal Tax Court warrants resident state to allow credit of taxes paid on income under attribution conflict

Feb 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-1200-FC-2021(AST)
  • Tax Payer : Bf1