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Rulings ( 11635 results )

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Income tax Appellate Tribunal

ITAT: Holds Firm taxable for on-money, basis Managing Partner's admission; Rejects double-taxation plea

Oct 28, 2022
  • In Favour of Revenue
  • Citation Number : TS-826-ITAT-2022(HYD)
  • Tax Payer : Western Constructions
Income tax Appellate Tribunal

ITAT: Underscores legal lacuna, suggests tax-recovery from ARCs/Banks on sale of securitised assets

Oct 28, 2022
  • In Favour of None/NA
  • Citation Number : TS-827-ITAT-2022(Mum)
  • Tax Payer : Abbasbhai A. Upletawala
Income tax Appellate Tribunal

ITAT: Barclays' IDR income exempt under India-Mauritius DTAA; Follows Morgan Stanley ruling

Oct 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-816-ITAT-2022(Mum)
  • Tax Payer : Barclays Capital Mauritius Limited
Income tax Appellate Tribunal

ITAT: Directs Revenue to accept cost of ESOP shares as per Sec.49(2AA), if TRC found in order

Oct 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-817-ITAT-2022(Bang)
  • Tax Payer : Biplab Adhya
Income tax Appellate Tribunal

ITAT: Deletes Sec.271AAB penalty basis documents failing to establish connection with Assessee’s business

Oct 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-818-ITAT-2022(JPR)
  • Tax Payer : Mangi Lal Kandoi
Income tax Appellate Tribunal

ITAT: Following Maruti Suzuki ruling, quashes post-amalgamation assessment of State Bank of Indore

Oct 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-820-ITAT-2022(Mum)
  • Tax Payer : State Bank of India
Income tax Appellate Tribunal

ITAT: Directs Revenue to examine Freebies' allowability, basis additional evidence, in Astra Zeneca's case

Oct 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-823-ITAT-2022(Bang)
  • Tax Payer : AstraZeneca Pharma India Limited
Income tax Appellate Tribunal

ITAT: Considering DVO Report mandatory, once matter referred for FMV computation under Sec.56(2)(vii)(b)

Oct 21, 2022
  • In Favour of None/NA
  • Citation Number : TS-824-ITAT-2022(CHNY)
  • Tax Payer : Sudalaimani Palanivelrajan
Income tax Appellate Tribunal

ITAT: UK law-firm eligible for treaty benefits prior to amended Protocol; Relies on Linklaters ruling

Oct 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-822-ITAT-2022(DEL)
  • Tax Payer : Herbert Smith Freehills LLP
Income tax Appellate Tribunal

ITAT: Google's payments for AdWords, not royalty under India-Ireland DTAA; Follows Engineering Analysis

Oct 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-821-ITAT-2022(Bang)
  • Tax Payer : Google India Private Limited
Income tax Appellate Tribunal

ITAT: Online auction income from Indian-subsidiary, not royalty under India-US DTAA

Oct 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-819-ITAT-2022(DEL)
  • Tax Payer : Ariba Inc
Income tax Appellate Tribunal

ITAT: Upholds Sec.68 addition for credit purchases; Rejects Assessee's self-serving, unverified statements

Oct 20, 2022
  • In Favour of Revenue
  • Citation Number : TS-815-ITAT-2022(Mum)
  • Tax Payer : Solid Machinery Co Pvt Ltd
Income tax Appellate Tribunal

ITAT: Refund-interest valid on additional ground allowed by ITAT, delay not attributable to assessee

Oct 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-813-ITAT-2022(Mum)
  • Tax Payer : Grasim Industries Limited
Supreme Court

SC: Lays down law on charitable trusts' exemption; Interprets 'General Public Utility', discards 'predominant object' test

Oct 19, 2022
  • In Favour of None/NA
  • Citation Number : TS-814-SC-2022
  • Tax Payer : Ahmedabad Urban Development Authority
Supreme Court

SC: Construes ‘solely’ under Sec.10(23C) strictly & prospectively for educational institutions; Overrules Queens Education Society

Oct 19, 2022
  • In Favour of Revenue
  • Citation Number : TS-809-SC-2022
  • Tax Payer : NEW NOBLE EDUCATIONAL SOCIETY
Income tax Appellate Tribunal

ITAT: No penalty on Shell Global as 'base-erosion' debatable & different approach in profit-attribution insufficient basis

Oct 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-810-ITAT-2022(Ahd)
  • Tax Payer : Shell Global Solutions International B.V.
Supreme Court

SC: Dismisses Wipro's review petition against denial to opt out of Sec.10B

Oct 19, 2022
  • In Favour of Revenue
  • Citation Number : TS-812-SC-2022
  • Tax Payer : Wipro Limited
Income tax Appellate Tribunal

ITAT: Interprets Rule 13, holds DRP can rectify errors within 6 months

Oct 18, 2022
  • In Favour of None/NA
  • Citation Number : TS-808-ITAT-2022(Mum)
  • Tax Payer : Michael Page International Recruitment Pvt. Ltd
District Court

DC: Acquits salaried person of ITR non-filing over belief that Form-16 & TDS adequate compliance

Oct 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-807-DC-2022(Bang)
  • Tax Payer : Partha Pratim Ghosh
Supreme Court

SC: Dismisses SLP by Big 4's US arm against reassessment proceedings in new regime

Oct 18, 2022
  • In Favour of Revenue
  • Citation Number : TS-806-SC-2022
  • Tax Payer : Ernst And Young U. S. LLP