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Rulings ( 13913 results )

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Income tax Appellate Tribunal

ITAT: Upholds application of Rule 8D in Sec. 14A disallowance, given Assessee’s unsatisfactory explanation

Nov 24, 2025
  • In Favour of Revenue
  • Citation Number : TS-1550-ITAT-2025(Mum)
  • Tax Payer : J.M. Financial and Investment Consultancy Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Directs recomputation of Sec.14A disallowance, limiting rule 8D(2)(ii) to investments yielding exempt income

Nov 24, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-1548-ITAT-2025(DEL)
  • Tax Payer : PTC India Ltd
Income tax Appellate Tribunal

ITAT: Quashes Sec. 271D penalty as time barred, limitation reckons from AO satisfaction & not show cause notice date

Nov 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-1546-ITAT-2025(CHNY)
  • Tax Payer : Jayapriya Company
High Court

HC: Sets aside Sec. 148A(d) order & reassessment notice issued on surrendered PAN, factum already intimated to JAO

Nov 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-1538-HC-2025(GUJ)
  • Tax Payer : The Panchsheel Mercantile Co-Op. Bank Limited
High Court

HC: Quashes Sec. 143(2) notice issued after approval of resolution plan by NCLT under IBC; Relies on Ghanshyam judgment

Nov 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-1537-HC-2025(BOM)
  • Tax Payer : V Hotels Limited
High Court

HC: Holds disability pension as exempt, sets aside mechanical rejection u/s 119(2)(b); Clarifies Circular cannot restrict refund claims

Nov 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-1540-HC-2025(GUJ)
  • Tax Payer : Lt. Col. Nikhil Subodh Gajjar Retd
Income tax Appellate Tribunal

ITAT: Adjustments u/s 143(1) sans any show cause notice, violation of Sec. 143(1)(a) intimation, unsustainable

Nov 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-1547-ITAT-2025(CHNY)
  • Tax Payer : Faurecia Emissions Control Technologies India Pvt Ltd
Supreme Court

SC: Confirms Bombay HC ruling on bogus purchases; Dismisses Assessee’s SLP

Nov 21, 2025
  • In Favour of Revenue
  • Citation Number : TS-1545-SC-2025
  • Tax Payer : Kanak Impex (India) Ltd.
Income tax Appellate Tribunal

ITAT: Allows set-off of brought forward long term capital loss & current year’s short term capital loss against LTCG

Nov 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-1544-ITAT-2025(DEL)
  • Tax Payer : Ira Sharma
High Court

HC: Sec.115JC inapplicable to projects approved pre-April 2013; Directs Revenue to follow judicial precedent

Nov 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-1543-HC-2025(BOM)
  • Tax Payer : Dipti Enterprises
Income tax Appellate Tribunal

ITAT: Assessee covered u/s 115A, not required to file return; Quashes reassessment proceedings

Nov 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-1542-ITAT-2025(DEL)
  • Tax Payer : Kisan International Trading FZE
Income tax Appellate Tribunal

ITAT: Appellate-Authorities can admit new claims backed by record; AO to examine enhanced Sec. 54B deduction on merits

Nov 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-1541-ITAT-2025(Ahd)
  • Tax Payer : Dinmahmad Hajibhai Momin
Income tax Appellate Tribunal

ITAT: No unfettered power to PCIT to invoke Sec.263 revision basis mere disagreement or without recording merits

Nov 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-1539-ITAT-2025(Mum)
  • Tax Payer : DHL Global Forwarding Freight Shared Services (India) LLP
Income tax Appellate Tribunal

ITAT: Deletes Sec. 56(2)(viib) addition; Provision aims to curb unaccounted money, not bona fide transactions

Nov 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-1536-ITAT-2025(CHNY)
  • Tax Payer : Ambattur Developers Private Limited
Income tax Appellate Tribunal

ITAT: FMV of shares must be on actual date of “transfer”; Sec. 50CA & Sec. 56(2)(viib) not applicable

Nov 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-1534-ITAT-2025(DEL)
  • Tax Payer : RBS AA Holdings (Netherlands) B.V.
Income tax Appellate Tribunal

ITAT: Deletes Sec.56(2)(x) addition; Rules stamp duty valuation cannot override actual agricultural land character

Nov 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-1531-ITAT-2025(Ahd)
  • Tax Payer : Ishwarbhai Gordhanbhai Prajapati
Income tax Appellate Tribunal

ITAT: Quashes Sec.68 addition against Preity Zinta, holds loans were mere liability transfers with no benefit

Nov 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-1530-ITAT-2025(Mum)
  • Tax Payer : Preity G Zinta
Income tax Appellate Tribunal

ITAT: Quashes reassessment for lack of AO signature & Sec. 148A violation; Rules mere digital signing insufficient

Nov 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-1529-ITAT-2025(ASR)
  • Tax Payer : Khurshid Ahmad Dar
Income tax Appellate Tribunal

ITAT: Deletes Sec. 271(1)(c) penalty passed 17-years after CIT(A) order, for being time-barred basis Form 36

Nov 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-1528-ITAT-2025(Mum)
  • Tax Payer : Commerzbank AG
High Court

HC: Assessment post-amalgamation time-barred as prior order lacked Sec. 153(6) ‘finding’ or ‘direction’

Nov 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-1527-HC-2025(BOM)
  • Tax Payer : Shell India Markets Private Limited