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Rulings ( 11635 results )

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Income tax Appellate Tribunal

ITAT: SB confirms bad debts provision for rural advances based on aggregate outstanding

Nov 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-870-ITAT-2022(Mum)
  • Tax Payer : The State Bank of India
Income tax Appellate Tribunal

ITAT: Draft Order not forwarded at address stipulated under Rule 127; Quashes assessment as time-barred

Nov 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-869-ITAT-2022(Mum)
  • Tax Payer : DSV Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes TDS proceedings where advance tax paid by overseas depository on GDR termination

Nov 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-868-ITAT-2022(Mum)
  • Tax Payer : ICICI Securities Limited
Income tax Appellate Tribunal

ITAT: AO's proposal, mere suggestion or stimulus; Upholds revision as PCIT applied independent mind

Nov 09, 2022
  • In Favour of Revenue
  • Citation Number : TS-865-ITAT-2022(Kol)
  • Tax Payer : Karabi Dealers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Excludes current year's profit from Deemed Dividend purview; Restricts taxability to net advances

Nov 09, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-867-ITAT-2022(Bang)
  • Tax Payer : Dr. L.S. Ravi Prakash
Income tax Appellate Tribunal

ITAT: Reassessment with lack of jurisdiction, non-est; Quashes revision

Nov 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-864-ITAT-2022(RAI)
  • Tax Payer : Maruti Clean Coal and Power Ltd
Income tax Appellate Tribunal

ITAT: Directs recomputation of acquisition cost basis ‘unregistered’ assignment agreement for capital gains

Nov 07, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-862-ITAT-2022(Bang)
  • Tax Payer : RaviKumar Tirupati Parthasarathy
High Court

HC: Absent deliberate disobedience, upholds provisional attachment under Benami Act despite interim stay

Nov 07, 2022
  • In Favour of Revenue
  • Citation Number : TS-845-HC-2022(MAD)
  • Tax Payer : Dinesh Chand Surana
Income tax Appellate Tribunal

ITAT: Accepts rate charged by SEB as comparable, holds sale of power at arm's length

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-861-ITAT-2022(HYD)
  • Tax Payer : Sree Rayalaseema Hi Strength Hypo Limited
Income tax Appellate Tribunal

ITAT: Quashes revision against Tata AIA over taxability of Shareholders' A/c surplus as other business

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-860-ITAT-2022(Mum)
  • Tax Payer : Tata AIA Life Insurance Company Ltd
Income tax Appellate Tribunal

ITAT: Holds revisionary order passed without DIN as invalid, violative of CBDT Circular

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-858-ITAT-2022(Bang)
  • Tax Payer : Dilip Kothari
Income tax Appellate Tribunal

ITAT: Sec.43CA inapplicable, absent element of transfer in cancellation deed involving agricultural land

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-855-ITAT-2022(Mum)
  • Tax Payer : Seema Promoters and Builders Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rejects Sec.11 exemption as imparting managerial training not incidental/ancillary to Main Objects

Nov 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-854-ITAT-2022(DEL)
  • Tax Payer : UMAK Education Trust
Income tax Appellate Tribunal

ITAT: Following SC's Checkmate Services ruling, disallows employees' PF/ESI contribution for depositing beyond statutory due-date

Nov 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-852-ITAT-2022(Bang)
  • Tax Payer : Pivotree Solutions India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Design Charges inherently connected with jewellery export, covered under Sec.10A

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-851-ITAT-2022(Mum)
  • Tax Payer : Uni-Design Jewellery Pvt. Ltd
High Court

HC: Quashes Sec.148 notices issued beyond 4 years due to Addl.CIT's approval

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-849-HC-2022(ORI)
  • Tax Payer : SYLVESA Infotech Private Limited
Income tax Appellate Tribunal

ITAT: Sec.80G approval dates back to AY pertaining to year of application, not order date

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-847-ITAT-2022(CHNY)
  • Tax Payer : NSR Charitable Trust
Income tax Appellate Tribunal

ITAT: Accounting personnel's resignation, MD's health problem acceptable reason for deleting audit delay penalty

Nov 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-836-ITAT-2022(CHNY)
  • Tax Payer : Perfect Stone Limited
Supreme Court

SC: Employees' foreign travel 'elephant in the room'; Rejects SBI's bona fide mistake plea

Nov 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-857-SC-2022
  • Tax Payer : State Bank of India
High Court

HC: VsV Act, a beneficial law; Delay caused in payment condonable since unintentional & justifiable

Nov 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-859-HC-2022(DEL)
  • Tax Payer : I A Housing Solution Private Limited