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Rulings ( 11622 results )

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Income tax Appellate Tribunal

ITAT: Sec.50C not invokable for leasehold rights, apply to capital assets; Follows Noida Cyber Park

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2024(DEL)
  • Tax Payer : Shivdeep Tyagi
Income tax Appellate Tribunal

ITAT: Quashes revision over unexplained cash deposit despite AO’s detailed inquiry; Mechanical satisfaction not valid

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-428-ITAT-2024(DEL)
  • Tax Payer : Dharam Singh
High Court

HC: Upholds ITAT’s conditional stay directing Vodafone India to deposit 20% of demand

Jun 20, 2024
  • In Favour of Revenue
  • Citation Number : TS-427-HC-2024(BOM)
  • Tax Payer : Vodafone India Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Transfer valid under Section 2(47)(v) in the absence of stamp duty as deed registered; Follows Sanjeev Lal

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2024(Ahd)
  • Tax Payer : Umesh Sumanlal Shah
Income tax Appellate Tribunal

ITAT: Sec.263 revision order passed without adjudicating Assessee’s plea of fraud, not sustainable

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2024(Kol)
  • Tax Payer : Rajesh Kumar Jalan
Income tax Appellate Tribunal

ITAT: Reimbursement of license fee for usage of Microsoft utilities not royalty; AMC Services not FTS

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2024(CHNY)
  • Tax Payer : Temenos Headquarters SA
High Court

HC: Sec.269SS covers pledging to pawn broker as security for loan; Sec.271D penalty sustainable for noncompliance

Jun 18, 2024
  • In Favour of Revenue
  • Citation Number : TS-423-HC-2024(P & H)
  • Tax Payer : R. K. Jewellers
Income tax Appellate Tribunal

ITAT: Sec.153A assessments invalid sans incriminating evidence; Loose sheets/sworn statements not reliable absent corroborative evidence

Jun 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2024(Bang)
  • Tax Payer : Ramachandra Setty & Sons
High Court

HC: Dispute over non-updation of credit score by credit institution, not arbitral issue; Writ not maintainable due to efficacious remedy

Jun 17, 2024
  • In Favour of Revenue
  • Citation Number : TS-417-HC-2024(MAD)
  • Tax Payer : V. Ramalingam
High Court

HC: Revenue abstained from going beyond SCN; Treats Sec.148A(d) order as SCN under Sec.148A(b)/148

Jun 17, 2024
  • In Favour of Assessee
  • Citation Number : TS-421-HC-2024(MAD)
  • Tax Payer : Satluj Credit & Holdings Private Limited
Income tax Appellate Tribunal

ITAT: Deletes Sec.43B addition for unpaid TCS not routed through P&L Account & neither claimed as deduction

Jun 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-408-ITAT-2024(ASR)
  • Tax Payer : Aay Kay Manufacuring Co.
Income tax Appellate Tribunal

ITAT: Date of possession of property to be considered as purchase date for Sec.54 deduction

Jun 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-407-ITAT-2024(Mum)
  • Tax Payer : Prateek Rajendra Kapadia
High Court

HC: Dismisses writ qua challenge to assumption of jurisdiction to reassess, endorses statutory appellate remedy

Jun 15, 2024
  • In Favour of Revenue
  • Citation Number : TS-409-HC-2024(DEL)
  • Tax Payer : Mudraksh Investfin Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec.40(a)(i) disallowance on payment without TDS unsustainable, sans TDS provision at time of payment

Jun 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-413-ITAT-2024(CHNY)
  • Tax Payer : Titan Company Ltd
Income tax Appellate Tribunal

ITAT: Discretion to choose share valuation methodology rests with Assessee, AO interfere if report fundamentally erroneous

Jun 15, 2024
  • In Favour of Assessee
  • Citation Number : TS-420-ITAT-2024(DEL)
  • Tax Payer : Weldon Polymers Pvt. Ltd.
Foreign Court

FC: Italy's Supreme Court holds foreign tax credit available only if tax withheld in accordance with tax treaty

Jun 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-841-FC-2023(ITL)
  • Tax Payer : Wis Telecom Srl (Case 15)
Income tax Appellate Tribunal

ITAT: 153A assessment valid sans any incriminating material, basis acceptance of undisclosed foreign bank account

Jun 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-415-ITAT-2024(DEL)
  • Tax Payer : Rajinder Kumar
High Court

HC: Holds ITAT statutorily obliged to consider the appeal on merits, restores appeal with ITAT; Follows Uzhuva Service

Jun 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-418-HC-2024(KER)
  • Tax Payer : Cool Mind Technologies Private Limited
Income tax Appellate Tribunal

ITAT: 143(3) assessment order not sine non qua for revision order u/Sec.263, even if unsigned or unserved on Assessee

Jun 13, 2024
  • In Favour of Revenue
  • Citation Number : TS-416-ITAT-2024(CHNY)
  • Tax Payer : Ramasamy Sathyan
Income tax Appellate Tribunal

ITAT: Allows IT Bar Association’s appeal for 80G exemption registration; Cites deadline misapplication & misconstrued provisions

Jun 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-414-ITAT-2024(Kol)
  • Tax Payer : Income Tax Bar Association Calcutta