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Rulings ( 11633 results )

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Income tax Appellate Tribunal

ITAT: JM Financial’s gains from JV share-sale capital in nature; Set-off not colourable device

Aug 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-432-ITAT-2023(Mum)
  • Tax Payer : J.M. Financial Ltd
High Court

HC: Bad debts allowable to Bank, absent provisioning, as Sec.36(1)(vii) & 36(1)(viia) distinct & independent

Aug 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-421-HC-2023(DEL)
  • Tax Payer : Standard Chartered Grindlays Bank Ltd
Income tax Appellate Tribunal

ITAT: Upholds revision since original assessment lacked proper inquiry on sales incentive

Aug 05, 2023
  • In Favour of Revenue
  • Citation Number : TS-425-ITAT-2023(Bang)
  • Tax Payer : Seiko Watch India Pvt. Ltd
High Court

HC: Upholds deletion of Sec.40(a)(i) disallowance on commission paid to overseas agent

Aug 05, 2023
  • In Favour of Assessee
  • Citation Number : TS-430-HC-2023(DEL)
  • Tax Payer : Maharani Enterprises
Income tax Appellate Tribunal

ITAT: Entries in seized books presumed to be correct unless rebutted by Revenue

Aug 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-428-ITAT-2023(DEL)
  • Tax Payer : Shiv Shakti Construction
High Court

HC: Sec.153 limitation binding despite Sec.144C 'complete code'; Follows Madras HC’s Roca Bathroom

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-431-HC-2023(BOM)
  • Tax Payer : Shelf Drilling Ron Tappmeyer Limited
Income tax Appellate Tribunal

ITAT: No profit attributable, FedEx's transactions at ALP; Absent global profits, CBDT Committee's Report inapplicable

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2023(Mum)
  • Tax Payer : Fedex Express International B.V.
Foreign Court

FC: Spanish Apex Court upholds TRC's sanctity & tie-breaker rule for resolving tax-residency conflict

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-427-FC-2023
  • Tax Payer : Don Artemio
Income tax Appellate Tribunal

ITAT: Rules on allowability of incremental cost & interest in real estate development project

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2023(Mum)
  • Tax Payer : Simplex Realty Limited
High Court

HC: Sets aside reassessment proceedings against non-filer 'Timex US' involving FTS taxability

Aug 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-424-HC-2023(DEL)
  • Tax Payer : Timex Group Usa Inc
Supreme Court

SC: Following Travelport ruling, dismisses Revenue’s appeals against profit attribution & PE issue

Aug 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-423-SC-2023
  • Tax Payer : Jet Lite (India) Limited
Income tax Appellate Tribunal

ITAT: Absent relatable incriminating material, rejects fresh Sec.80-IA claim; Explains Abhisar Buildwell

Aug 02, 2023
  • In Favour of Revenue
  • Citation Number : TS-422-ITAT-2023(HYD)
  • Tax Payer : HES Infra Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Amazon's receipts from 'cloud computing services' neither FIS/FTS nor royalty

Aug 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-419-ITAT-2023(DEL)
  • Tax Payer : Amazon Web Services, Inc
Supreme Court

SC: Ansaldo Energia withdraws appeal against Madras HC judgment on offshore supply taxability

Jul 31, 2023
  • In Favour of None/NA
  • Citation Number : TS-418-SC-2023
  • Tax Payer : Ansaldo Energia SPA
High Court

HC: Quashes order denying ITR-delay condonation since not passed by CBDT Member

Jul 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-413-HC-2023(BOM)
  • Tax Payer : R. K. Madhani Prakash Engineers J V
High Court

HC: FinMin & CBDT to expedite decision on TN-Govt.’s request for exempting PACS from Sec.194N

Jul 31, 2023
  • In Favour of None/NA
  • Citation Number : TS-417-HC-2023(MAD)
  • Tax Payer : Erode Mavatta Valamana Thodakka
Income tax Appellate Tribunal

ITAT: Allows tax-exemption on enhanced compensation from compulsory 'agricultural land' acquisition

Jul 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-399-ITAT-2023(DEL)
  • Tax Payer : Virender Rathee
High Court

HC: Directs re-examination of Assessee's submission on foreign remittances; Sets aside reassessment proceedings

Jul 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-412-HC-2023(DEL)
  • Tax Payer : Dr. Ashok Kumar Sinha
High Court

HC: Quashes reassessment notice over incorrect invocation of Sec. 50C; Condemns non-application of mind

Jul 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-416-HC-2023(DEL)
  • Tax Payer : Sh. Manujendra Shah
High Court

HC: Quashes assessment absent delivery proof of SCN/draft order on Assessee’s email

Jul 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-391-HC-2023(MAD)
  • Tax Payer : Kothandaraman Praesh