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Rulings ( 11633 results )

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Income tax Appellate Tribunal

ITAT: StanChart's loss of over Rs.1,000 Cr, due to securities scam, allowable business loss

Aug 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-476-ITAT-2023(Mum)
  • Tax Payer : Standard Chartered Bank
Income tax Appellate Tribunal

ITAT: Sec.54 exemption allowable despite old agreement as construction completed within 'prescribed 3 years'

Aug 23, 2023
  • In Favour of Assessee
  • Citation Number : TS-473-ITAT-2023(DEL)
  • Tax Payer : Reema Chawla
Income tax Appellate Tribunal

ITAT: Nostro A/c maintenance charge not interest under Sec.2(28A); Sec.195-TDS inapplicable

Aug 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-471-ITAT-2023(Mum)
  • Tax Payer : The Hongkong & Shanghai Banking Corporation Ltd
Income tax Appellate Tribunal

ITAT: Rules on taxability of MIT on receipts from various programs as FIS/FTS

Aug 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-460-ITAT-2023(Mum)
  • Tax Payer : Massachusetts Institute of Technology
High Court

HC: Sale consideration not income chargeable to tax; Quashes reassessment proceedings with Rs.25,000 cost

Aug 21, 2023
  • In Favour of Assessee
  • Citation Number : TS-468-HC-2023(MP)
  • Tax Payer : Nitin Nema
Income tax Appellate Tribunal

ITAT: Expounds on scope of 'shares' in India-Mauritius DTAA, TRC's sanctity & 'liable to tax'

Aug 21, 2023
  • In Favour of Assessee
  • Citation Number : TS-467-ITAT-2023(DEL)
  • Tax Payer : Sarva Capital LLC
High Court

HC: Allows Radio City expenses on termination of Ad Contract & depreciation on non-compete fee

Aug 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-466-HC-2023(BOM)
  • Tax Payer : Music Broadcast Private Limited
High Court

HC: Directs refund of invalid TDS demand deposited by Assessee; Imposes Rs.50,000 cost

Aug 19, 2023
  • In Favour of Assessee
  • Citation Number : TS-465-HC-2023(DEL)
  • Tax Payer : Punjab and Sind Bank
High Court

HC: Revenue not obliged to grant additional tax-exemption pursuant to BIFR order

Aug 19, 2023
  • In Favour of Assessee
  • Citation Number : TS-450-HC-2023(DEL)
  • Tax Payer : The Indian Plywood Mfg. Co. Pvt. Ltd. & Anr
High Court

HC: Revisionary jurisdiction not valid merely on PCIT's disagreement with AO's view

Aug 19, 2023
  • In Favour of Assessee
  • Citation Number : TS-461-HC-2023(BOM)
  • Tax Payer : American Spring & Pressing Works Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Port rent has direct nexus with running & maintaining port, allowable for Sec.80-IA deduction

Aug 19, 2023
  • In Favour of Revenue
  • Citation Number : TS-451-ITAT-2023(Mum)
  • Tax Payer : PNP Maritime Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds revision as AO failed to apply mind on Sec.43CA safe harbour applicability

Aug 19, 2023
  • In Favour of Revenue
  • Citation Number : TS-462-ITAT-2023(Mum)
  • Tax Payer : Shree Laxmi Enterprises
Income tax Appellate Tribunal

ITAT: IUC charges not taxable as royalty; Rejects process & equipment royalty plea

Aug 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-463-ITAT-2023(Bang)
  • Tax Payer : Telefonica Depreciation Espana SA
Foreign Court

FC: French Apex Court holds partial exemption no bar on tax residency & treaty benefits

Aug 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-1057-FC-2022(FRN)
  • Tax Payer : Observatoire d’économie appliquée
Supreme Court

SC: Explains ‘mutuality’ principle qua Clubs’ FD interest income; Bangalore Club ratio binding precedent

Aug 18, 2023
  • In Favour of Revenue
  • Citation Number : TS-457-SC-2023
  • Tax Payer : Secunderabad Club and others
Income tax Appellate Tribunal

ITAT: Reiterates 20% reckoned with 'disputed' not 'outstanding' demand; Extends stay for eBay

Aug 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-459-ITAT-2023(Mum)
  • Tax Payer : eBay Singapore Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Reimbursement of software licence fee from Indian AEs not taxable as 'Other Income'

Aug 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-456-ITAT-2023(DEL)
  • Tax Payer : GE Precision Healthcare LLC
High Court

HC: Reassessment order valid despite notice issued without DIN as Assessee not prejudiced

Aug 17, 2023
  • In Favour of Revenue
  • Citation Number : TS-458-HC-2023(ALL)
  • Tax Payer : Chandra Bhan
Income tax Appellate Tribunal

ITAT: Denies 'substance over form' & LoB plea against Mauritius Co. holding TRC; Allows treaty benefit

Aug 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-455-ITAT-2023(DEL)
  • Tax Payer : Leapfrog Financial Inclusion India (II) Ltd
Income tax Appellate Tribunal

ITAT: NSE's investor passing regulatory tests, holding Mauritius TRC & GBL, eligible for treaty benefits

Aug 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-453-ITAT-2023(DEL)
  • Tax Payer : Saif Ii-Se Investments Mauritius Limited