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Rulings ( 11633 results )

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Income tax Appellate Tribunal

ITAT: Reiterates limitations on CIT(A)'s income enhancement powers vis-a-vis issues not considered by AO

Jun 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-312-ITAT-2023(Kol)
  • Tax Payer : Apeejay Shipping Ltd
Income tax Appellate Tribunal

ITAT: Sec.69 inapplicable to on-money paid by NR from foreign sourced income

Jun 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-311-ITAT-2023(Mum)
  • Tax Payer : Vijaykumar Kanaiyalal Matta
Income tax Appellate Tribunal

ITAT: Allows Sec.54F exemption as Assesse not exclusive owner of multiple house properties

Jun 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-310-ITAT-2023(Mum)
  • Tax Payer : Zainul Abedin Ghaswala
High Court

HC: Look Out Circulars have extreme repercussions, need regulations & cannot be made recovery norm

Jun 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-309-HC-2023(CAL)
  • Tax Payer : Mannoj Kumar Jain & Anr
Income tax Appellate Tribunal

ITAT: Sec.80-IC claim through ITR, directory; Deduction allowable during assessment proceedings

Jun 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-301-ITAT-2023(DEL)
  • Tax Payer : Canadian Specialty Vinyls
Income tax Appellate Tribunal

ITAT: Interest on temporary FDs eligible for Sec.10AA exemption; Follows Hewlett Packard ruling

Jun 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-298-ITAT-2023(Bang)
  • Tax Payer : Allstate India Private Limited
Income tax Appellate Tribunal

ITAT: Fee for Director's club membership in individual category, allowable business expenditure

Jun 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-305-ITAT-2023(Mum)
  • Tax Payer : New Globe Logistik Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Penalty for late filing return not compensatory in nature, disallowed under Sec.37(1)

Jun 10, 2023
  • In Favour of Revenue
  • Citation Number : TS-306-ITAT-2023(Mum)
  • Tax Payer : Shriram Chits Maharashtra Ltd
Income tax Appellate Tribunal

ITAT: Mauritian 'Collective Investment Vehicle' eligible for DTAA benefits, basis TRC; Follows Blackstone ruling

Jun 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-308-ITAT-2023(DEL)
  • Tax Payer : Sapein Funds Ltd
High Court

HC: Source of money important but not decisive for determining Benami transaction

Jun 09, 2023
  • In Favour of None/NA
  • Citation Number : TS-307-HC-2023(CAL)
  • Tax Payer : Sekhar Kumar Roy
Foreign Court

FC: French Court holds beneficial owner of dividend, not intermediary, eligible for DTAA benefit

Jun 09, 2023
  • In Favour of Revenue
  • Citation Number : TS-1050-FC-2022(FRN)
  • Tax Payer : Foncière Vélizy Rose
Income tax Appellate Tribunal

ITAT: Deletes addition of demonetisation deposits as source explained, despite RBI Notification violation

Jun 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-303-ITAT-2023(CHNY)
  • Tax Payer : Purani Hospital Supplies Private Limited
Foreign Court

FC: Canadian Supreme Court upholds GAAR for frustrating rationale of loss-restricting provision

Jun 08, 2023
  • In Favour of Revenue
  • Citation Number : TS-304-FC-2023(CAN)
  • Tax Payer : Deans Knight Income Corp.
High Court

HC: Revenue to re-decide Travelport UK’s refund adjustment, basis writ petition’s content

Jun 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-302-HC-2023(DEL)
  • Tax Payer : Travelport International Operations Limited
Income tax Appellate Tribunal

ITAT: 200% penalty not imposable unless Revenue specifies misreporting instance under Sec.270A(9)

Jun 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-300-ITAT-2023(Mum)
  • Tax Payer : Saltwater Studio LLP
Income tax Appellate Tribunal

ITAT: Sec.44BB 'computation provision', inapplicable sans PE; Rejects offshore supply's taxability in India

Jun 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-299-ITAT-2023(DEL)
  • Tax Payer : Baker Hughes Energy Technologies UK Ltd
Income tax Appellate Tribunal

ITAT: No deemed dividend tax on 'non-shareholder' loan recipient; Relies on Ankitech ruling

Jun 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-297-ITAT-2023(Ahd)
  • Tax Payer : Aaryavart Infrastructure P. Ltd
Income tax Appellate Tribunal

ITAT: No technical know-how made available in pre-clinical lab services; Denies taxability as FTS

Jun 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-296-ITAT-2023(Bang)
  • Tax Payer : Charles River Laboratories Inc.
High Court

HC: Revenue to consider Flipkart's reply against reassessment proceedings involving investment in shares

Jun 05, 2023
  • In Favour of Assessee
  • Citation Number : TS-295-HC-2023(KAR)
  • Tax Payer : Flipkart Private Limited
Income tax Appellate Tribunal

ITAT: Following Delhi HC's Brandix ruling, holds assessment order sans DIN as ‘non est’

Jun 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-293-ITAT-2023(DEL)
  • Tax Payer : Prtatap Singh Yadav