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Rulings ( 11622 results )

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Income tax Appellate Tribunal

ITAT: Unsubstantiated cash entries in seized diaries tantamount to unexplained expenditure; Confirms addition

Jul 03, 2024
  • In Favour of Revenue
  • Citation Number : TS-469-ITAT-2024(DEL)
  • Tax Payer : Kailash Gahlot
Income tax Appellate Tribunal

ITAT: Business expenditure incurred towards discontinued business not admissible deduction

Jul 03, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-468-ITAT-2024(Bang)
  • Tax Payer : Shanmugam Ravi
Income tax Appellate Tribunal

ITAT: Confirms revision on incorrect appreciation of law qua interest taxability on enhanced compensation; Distinguishes Ghanshyam HUF

Jul 03, 2024
  • In Favour of Revenue
  • Citation Number : TS-467-ITAT-2024(DEL)
  • Tax Payer : Veena Shah
High Court

HC: Assessee entitled to Sec.54 deduction despite cash transaction, as income disclosed before settlement commission

Jul 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-466-HC-2024(GUJ)
  • Tax Payer : Ashwinbhai Babubhai Dudhat
High Court

HC: 245C applications filed prior to amendment valid sans provisions prohibiting existing application for settlement

Jul 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-465-HC-2024(GUJ)
  • Tax Payer : Vetrivel Infrastructure
Income tax Appellate Tribunal

ITAT: Quantum additions cannot be challenged in appellate proceedings against revision/rectification order

Jul 02, 2024
  • In Favour of Revenue
  • Citation Number : TS-464-ITAT-2024(DEL)
  • Tax Payer : Security Printing and Minting Corporation of India limited
Foreign Court

FC: Australian Court holds no withholding on payments to PepsiCo for concentrates; Rejects DPT sans tax benefit

Jul 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-463-FC-2024(AUS)
  • Tax Payer : PepsiCo, Inc
Income tax Appellate Tribunal

ITAT: Deletes addition as difference in consideration & stamp duty within 10% tolerance limit; Holds Sec.50C retrospective

Jul 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-462-ITAT-2024(Bang)
  • Tax Payer : Nabhiraj Ratna Balraj
Income tax Appellate Tribunal

ITAT: Assessee not defaulter u/Sec.40(a)(i) as payee declared receipts in return

Jul 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-461-ITAT-2024(CHNY)
  • Tax Payer : Ahlers India Pvt. Ltd
High Court

HC: Best judgment assessment valid if nexus established with material on record & judgment is not exercised arbitrarily

Jul 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-460-HC-2024(CAL)
  • Tax Payer : Sikaria Infraprojects Pvt. Ltd
High Court

HC: Reassessment basis audit objections tantamounts to ‘change of opinion’, not permissible; Quashes reassessment proceedings

Jun 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-451-HC-2024(HP)
  • Tax Payer : J.B.J. Perfumes Private Limited
Income tax Appellate Tribunal

ITAT: Sec.153 proceedings reckoned from receipt of seized material & not search date; ‘Inconclusive satisfaction’ vitiates Sec.153C

Jun 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-457-ITAT-2024(DEL)
  • Tax Payer : Marconi Infratech (P.) Ltd
Income tax Appellate Tribunal

ITAT: Retrospective provision under Act cannot be presumed to be retrospective, if it alters law as it earlier stood; Deletes 14A disallowance

Jun 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2024(Mum)
  • Tax Payer : Zodiac Ventures Ltd
High Court

HC: Sets aside Sec.119(2)(b) order rejecting belated filing of Form10ID; Directs CBDT to provide relevant reports to Assessee

Jun 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-449-HC-2024(BOM)
  • Tax Payer : Tata Autocomp Gotion Green Energy Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Excess amount paid over the net asset value is considered as 'Goodwill'; Follows SIMS Securities

Jun 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-459-ITAT-2024(Bang)
  • Tax Payer : DN Solutions (India) Private Limited
High Court

HC: Holds Search & Seizure to be invalid, 'Satisfaction note’ devoid of cogent incriminating material

Jun 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-456-HC-2024(TEL)
  • Tax Payer : R.S.Agro Tech and others
Income tax Appellate Tribunal

ITAT: Remands the matter to AO on issue of 'super abnormal profits' for availing deduction under Sec.10A

Jun 28, 2024
  • In Favour of Revenue
  • Citation Number : TS-455-ITAT-2024(Mum)
  • Tax Payer : Ajay R. Agrawal (HUF)
Foreign Court

FC: Munster Finance Court holds No Exit Tax On Mere Change in DTAA Provisions

Jun 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-1064-FC-2022(GER)
  • Tax Payer : Name not disclosed (Case 18)
High Court

HC: Quashes reassessment proceedings sans link between information received by Revenue and reason to believe

Jun 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-454-HC-2024(BOM)
  • Tax Payer : Modern Living Solutions Private Limited
High Court

HC: Receipts from relinquishment of right to operate as licensee constitutes 'Trading Receipt'; Allows Revenue's appeal

Jun 28, 2024
  • In Favour of Revenue
  • Citation Number : TS-453-HC-2024(CAL)
  • Tax Payer : ITC Limited