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Rulings ( 11627 results )

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High Court

HC: Interest on admitted refund is nation's loss; Asks Dept. to issue refunds promptly

Feb 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-77-HC-2024(BOM)
  • Tax Payer : Macrotech Developers Limited
High Court

HC: Quashes reassessment proceedings against Godrej Projects on share premium received from Mauritian investor

Feb 08, 2024
  • In Favour of Assessee
  • Citation Number : TS-59-HC-2024(BOM)
  • Tax Payer : Godrej Projects Development Pvt Ltd
Income tax Appellate Tribunal

ITAT: Microfinancing with exorbitant interest rate & profit intent, not charitable activity; Rejects Sec.11 exemption

Feb 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-72-ITAT-2024(Bang)
  • Tax Payer : Sanghamitra Rural Financial Services
Supreme Court

SC: Revenue to refund 'TDS-refund' borne by Stakeholders Committee of company under CIRP

Feb 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-73-SC-2024
  • Tax Payer : R.K. Industries (Unit-Ii) LLP
Supreme Court

SC: Copy of order dismissing Revenue’s SLP in Bharti Airtel’s case

Feb 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-71-SC-2024
  • Tax Payer : Bharti Airtel Limited
High Court

HC: TPO’s interdiction post DRP order unwarranted; Quashes assessment, penalty proceedings

Feb 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-70-HC-2024(DEL)
  • Tax Payer : Louis Dreyfus Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Draft order mandatory despite Assessee's waiver on filing DRP-objections; Quashes assessment

Feb 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-67-ITAT-2024(Mum)
  • Tax Payer : Welspun Global Brands Ltd
High Court

HC: HSBC Mauritius eligible for securities' interest exemption under Art.11(3)(c), RBI licence no prerequisite

Feb 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-69-HC-2024(BOM)
  • Tax Payer : HSBC Bank (Mauritius) Ltd
Supreme Court

SC: Dismisses Revenue's SLP against ‘net interest expense’ allowability under Sec.80-IAB

Feb 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-66-SC-2024
  • Tax Payer : Adani Ports And Special Economic Zone
Supreme Court

SC: Orders ‘natural consequences’ once subsidy held as capital receipt; Follows Munjal Auto

Feb 05, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-65-SC-2024
  • Tax Payer : Sunbeam Auto Pvt. Ltd
Income tax Appellate Tribunal

ITAT: KYC discrepancies of co-operative society not incriminating material, actionable under relevant laws

Feb 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-61-ITAT-2024(Mum)
  • Tax Payer : Renukamata Multi–State Co–operative Society Ltd
Income tax Appellate Tribunal

ITAT: Affirms expenditure allowability as per mercantile system & rule of consistency

Feb 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-54-ITAT-2024(DEL)
  • Tax Payer : Wimco Green
Income tax Appellate Tribunal

ITAT: Assessee discharged Sec.68 onus, Revenue failed to examine; Remands for further inquiry

Feb 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-60-ITAT-2024(Bang)
  • Tax Payer : BMM Ispat Limited
Income tax Appellate Tribunal

ITAT: Allows Sec.80-IC deduction to HUL's ancillary unit as activity tantamount to 'manufacture'

Feb 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-62-ITAT-2024(DEL)
  • Tax Payer : Beeam Industries Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec.80-IA deduction allowable on developing airport's arrival block; Assessee not ‘work contractor'

Feb 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-52-ITAT-2024(Ahd)
  • Tax Payer : N.C.C. – M.S.K.E.L (J.V.)
Foreign Court

FC: Ukrainian Supreme Court holds signing loan agreement ‘preparatory or auxiliary’; Rejects DAPE plea

Feb 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-1062-FC-2022(UKR)
  • Tax Payer : Furlander Wind Technology LLC
High Court

HC: Rejects 'pending appeal' plea since Assessee aware of appeal-disposal; Upholds VsV rejection

Feb 02, 2024
  • In Favour of Revenue
  • Citation Number : TS-58-HC-2024(GUJ)
  • Tax Payer : REDEX Protech Limited
High Court

HC: After CIRP, company's tax-prosecution cannot continue against new management; Old officers liable

Feb 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-56-HC-2024(MAD)
  • Tax Payer : Vasan Healthcare Pvt. Ltd
High Court

HC: Upholds quashing of post-search assessment based on loose sheets; Explains Sec.153C & Sec.127

Feb 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-55-HC-2024(KAR)
  • Tax Payer : Sunil Kumar Sharma
Income tax Appellate Tribunal

ITAT: Journalist's compensation on contract non-renewal not taxable; 'Business' not inclusive of 'profession'

Jan 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-53-ITAT-2024(DEL)
  • Tax Payer : Padma Rao