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Rulings ( 11635 results )

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Income tax Appellate Tribunal

ITAT: Nature of income from idle funds prior to business commencement, debatable; Deletes penalty

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-922-ITAT-2022(CHNY)
  • Tax Payer : Nagarjuna Oil Corporation Ltd
Income tax Appellate Tribunal

ITAT: Rejects Sec.80P claim on 'interest' income but allows Sec.57 deduction

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-925-ITAT-2022(Bang)
  • Tax Payer : The Bharathi Co-operative Credit Society
Income tax Appellate Tribunal

ITAT: Documentary evidence on job work in Assessee's favour; Contractor's physical presence not necessary

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-930-ITAT-2022(DEL)
  • Tax Payer : United Foods Private Limited
Income tax Appellate Tribunal

ITAT: Absent PCIT/CIT's approval, scope of limited scrutiny cannot be enlarged

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-927-ITAT-2022(DEL)
  • Tax Payer : Danone Asia Pte Limited
Income tax Appellate Tribunal

ITAT: ICAI Guidance Note mandatory for F&O turnover calculation; Deletes Sec.271B penalty

Dec 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-932-ITAT-2022(Mum)
  • Tax Payer : Sanjay Marotrao Modak
Income tax Appellate Tribunal

ITAT: AO's remand report essential for admitting additional evidence by CIT(A)

Dec 03, 2022
  • In Favour of Revenue
  • Citation Number : TS-934-ITAT-2022(HYD)
  • Tax Payer : Ascend Telcom Infrastructure (P) Ltd.
Income tax Appellate Tribunal

ITAT: Shipping income taxable in Singapore on accrual, not remittance basis; Rejects LoB plea

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-929-ITAT-2022(Rjt)
  • Tax Payer : Maersk Tankers Singapore Pte. Ltd
Income tax Appellate Tribunal

ITAT: Sec.80-IA deduction allowable as Assessee not contractor 'simplicitor' but developer of highway project

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-928-ITAT-2022(DEL)
  • Tax Payer : BSC C&C JV
Income tax Appellate Tribunal

ITAT: Revenue cannot turn blind eye to Vodafone's pre-established facts; Allows Sec.80-IA deduction

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-923-ITAT-2022(Mum)
  • Tax Payer : Vodafone India Ltd
Income tax Appellate Tribunal

ITAT: Grasim demerger passes tax muster, quashes Rs.3700 Cr DDT levy; RoI disclosure not decisive

Dec 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-926-ITAT-2022(Mum)
  • Tax Payer : Grasim Industries Ltd
Income tax Appellate Tribunal

ITAT: ​BBC's distribution revenue not copyright royalty; Absent factual finding, equipment/process royalty plea 'preposterous'

Dec 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-924-ITAT-2022(DEL)
  • Tax Payer : BBC World Distribution Ltd
Income tax Appellate Tribunal

ITAT: ‘Splash’ hive-off by Lifestyle, taxable as capital gains not business income

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-919-ITAT-2022(Bang)
  • Tax Payer : Lifestyle International Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Separate application under Rule 46A no precondition for additional evidence's admissibility

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-920-ITAT-2022(DEL)
  • Tax Payer : Mayur Batra
Income tax Appellate Tribunal

ITAT: Successor steps into predecessor's shoes on amalgamation; Allows iGate's capital loss to Capgemini

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-918-ITAT-2022(PUN)
  • Tax Payer : Capgemini Technology Services India Limited
High Court

HC: Sec.41(1)(a) inapplicable as outstanding nature & continuity of liability sufficiently proved

Nov 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-917-HC-2022(CAL)
  • Tax Payer : Soorajmul Nagarmull
High Court

HC: ​'Ad hoc' or 'guess estimate' based disallowance under Sec.14A, not sustainable; Dismisses Assessee's appeal

Nov 29, 2022
  • In Favour of Revenue
  • Citation Number : TS-916-HC-2022(DEL)
  • Tax Payer : H.T. Media Limited
High Court

HC: Settling all pending disputes for particular AY, no prerequisite under VsV Act

Nov 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-915-HC-2022(DEL)
  • Tax Payer : MUFG Bank Ltd
Income tax Appellate Tribunal

ITAT: CFSL Report, books & statements contrary to Assessee’s theory on post-demonetisation deposits; Upholds Sec.68 addition

Nov 28, 2022
  • In Favour of Revenue
  • Citation Number : TS-914-ITAT-2022(HYD)
  • Tax Payer : Vaishnavi Bullion Private Limited
Income tax Appellate Tribunal

ITAT: Mauritian Firm's distribution revenue from ESPN India not royalty; Dislodges finding on PE

Nov 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-913-ITAT-2022(DEL)
  • Tax Payer : ESS Distribution (Mauritius) SNC et Compagnie
Income tax Appellate Tribunal

ITAT: Professional receipts from Jet Airways & GMR sufficiently explained; Deletes Sec.68 addition

Nov 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-898-ITAT-2022(Mum)
  • Tax Payer : Novo Corporate Advisors Pvt. Ltd