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Rulings ( 12436 results )

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Income tax Appellate Tribunal

ITAT: Quashes CIT(E)-order denying registration u/s 12AB basis object to carry-out activity outside India

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-345-ITAT-2025(Mum)
  • Tax Payer : Dedhia Music Foundation
Income tax Appellate Tribunal

ITAT: Deletes Sec. 270A penalty citing bonafide mistake in filing revised ITR on tax representative’s advice

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-353-ITAT-2025(Mum)
  • Tax Payer : Arun Narayan Chavan
Income tax Appellate Tribunal

ITAT: Penalty u/s 271(b) cannot be imposed for each & every non-complied notice

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-340-ITAT-2025(Mum)
  • Tax Payer : Yogita Yashwant Baing
High Court

HC: ICICI Bank's gains don't justify disallowing ICICI Securities' business expense; Allows client assistant expense

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-356-HC-2025(BOM)
  • Tax Payer : ICICI Securities Limited
High Court

HC: Retention of seized jewellery unjustified for recovery of subsequent AYs' outstanding-tax; Directs release

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-352-HC-2025(GUJ)
  • Tax Payer : Nayanaben Hasmukhbhai Patel & Ors
Income tax Appellate Tribunal

ITAT: Shares held as ‘stock in trade’ in regular course of business, not within Sec. 56(2)(viia) purview

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-351-ITAT-2025(Mum)
  • Tax Payer : Utility Supply Private Limited
Income tax Appellate Tribunal

ITAT: Realization of NPAs by Trusts not ARC’s income, deletes addition of upside income

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-350-ITAT-2025(Mum)
  • Tax Payer : Asset Reconstruction Company (India) Ltd
Income tax Appellate Tribunal

ITAT: Grants tonnage tax benefit given Assessee being ‘qualifying ship’, satisfies primary condition u/s 115VD

Apr 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-349-ITAT-2025(Mum)
  • Tax Payer : Samson Maritime Limited
High Court

HC: CIT(A) too " casual ", Tribunal order 'perverse'; Affirms AO's bogus purchase addition

Apr 07, 2025
  • In Favour of Revenue
  • Citation Number : TS-348-HC-2025(BOM)
  • Tax Payer : Drisha Impex Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Allotment date determines property holding period; Rejects STCG addition citing earlier LTCG declaration

Apr 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-347-ITAT-2025(Mum)
  • Tax Payer : Anil Murarilal Agarwal
Income tax Appellate Tribunal

ITAT: AO's failure to send notice on “registered email address”, reasonable cause u/s 273B, deletes penalty

Apr 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-346-ITAT-2025(Mum)
  • Tax Payer : Niyati Sutaria James
Income tax Appellate Tribunal

ITAT: Reinstates registration u/s 12A/12AA/12AB finding trusts operations genuine, consistent with the objectives

Apr 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-344-ITAT-2025(PUN)
  • Tax Payer : Poona Obstetrics and Gynaecological Society
Supreme Court

SC: Dismisses assessee's SLP challenging CIT's 'mechanical' satisfaction/approval for reassessment

Apr 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-342-SC-2025
  • Tax Payer : Venky Steels Pvt. Ltd
Supreme Court

SC: Dismisses Revenue SLP seeking to tax trust's receipts as consultancy fees basis Donor TDS

Apr 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-341-SC-2025
  • Tax Payer : Aroh Foundation
Income tax Appellate Tribunal

ITAT: Mere 'holding' co. NDTV entitled to business expense deduction despite no PGBP Income

Apr 05, 2025
  • In Favour of Assessee
  • Citation Number : TS-339-ITAT-2025(DEL)
  • Tax Payer : NDTV Networks Limited
Income tax Appellate Tribunal

ITAT: Upholds revisionary proceedings u/s 263, twin conditions satisfied, directs fresh assessment

Apr 05, 2025
  • In Favour of Assessee
  • Citation Number : TS-307-ITAT-2025(Ahd)
  • Tax Payer : Gujarat Metal Cast Industries Private Limited
Income tax Appellate Tribunal

ITAT: Quashes reassessment proceedings for obtaining approval from PCIT instead of authorities mentioned u/s 151(ii)

Apr 05, 2025
  • In Favour of Assessee
  • Citation Number : TS-335-ITAT-2025(Mum)
  • Tax Payer : Asha P Kedia
Income tax Appellate Tribunal

ITAT: Interest on enhanced compensation from compulsory land-acquisition taxable as ‘income from other sources’ u/s 56(2)(viii)

Apr 05, 2025
  • In Favour of Revenue
  • Citation Number : TS-336-ITAT-2025(DEL)
  • Tax Payer : Sandeep Kumar
Income tax Appellate Tribunal

ITAT: Deletes addition u/s 69, solely on basis of statement recorded during survey sans independent corroborative evidence

Apr 05, 2025
  • In Favour of Assessee
  • Citation Number : TS-291-ITAT-2025(DEL)
  • Tax Payer : Glo-Tech Enterprises Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec. 36(1)(viia) deduction limited to actual bad debts provision per RBI norms, subject to statutory ceiling

Apr 05, 2025
  • In Favour of Revenue
  • Citation Number : TS-337-ITAT-2025(CHNY)
  • Tax Payer : The Virudhunagar District Central Co-operative Bank Limited