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Rulings ( 11635 results )

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Income tax Appellate Tribunal

ITAT: Serum Institute eligible for Sec.10AA deduction on sale of vaccine to UNICEF in India

Sep 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-725-ITAT-2022(PUN)
  • Tax Payer : Serum Institute Of India Ltd
Income tax Appellate Tribunal

ITAT: Revisionary proceedings after approval of Resolution Plan by NCLT, unsustainable; Follows Ghanashyam Mishra ruling

Sep 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-723-ITAT-2022(Mum)
  • Tax Payer : Raj Rayon Industries Ltd
High Court

HC: Holds attachment of sold properties as invalid for violation of Rule 68B time-frame

Sep 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-720-HC-2022(MAD)
  • Tax Payer : Pradeep Alexander
High Court

HC: Lays down tax-refund procedure for Assessee with foreign bank account not validated on e-filing portal

Sep 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-718-HC-2022(KAR)
  • Tax Payer : M. Tech Holdings PTE Limited
Income tax Appellate Tribunal

ITAT: Assessment made by relying on Sec.132(4) statements, on standalone basis, not sustainable

Sep 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-716-ITAT-2022(Mum)
  • Tax Payer : Nilesh M. Agrawal
Income tax Appellate Tribunal

ITAT: Upholds addition of trade settlement gain by AO to book profit as Auditor issued qualified report

Sep 13, 2022
  • In Favour of Revenue
  • Citation Number : TS-715-ITAT-2022(HYD)
  • Tax Payer : Nikhil Refineries Pvt. Limited
High Court

HC: Upholds rejection of compounding application of TDS-defaulter for failing to disclose conviction in earlier years

Sep 12, 2022
  • In Favour of Revenue
  • Citation Number : TS-713-HC-2022(DEL)
  • Tax Payer : Viraj Exports Private Limited & Anr
Income tax Appellate Tribunal

ITAT: Distinguishes 'agreement' from 'approval/consent' for operating bio-medical waste management facility; Denies Sec.80-IA deduction

Sep 12, 2022
  • In Favour of Revenue
  • Citation Number : TS-714-ITAT-2022(HYD)
  • Tax Payer : Ramky Energy and Environment Limited
Income tax Appellate Tribunal

ITAT: Upholds Sec.263 revision despite DRP directions; Follows Adamas Builders over Barclays Bank ruling

Sep 10, 2022
  • In Favour of Revenue
  • Citation Number : TS-706-ITAT-2022(Bang)
  • Tax Payer : Brocade Communications Systems Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Addition based merely on loose paper without incriminating evidence, not sustainable

Sep 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-710-ITAT-2022(SUR)
  • Tax Payer : Gordhanbhai L. Talavia
Income tax Appellate Tribunal

ITAT: Amended Sec.269SS prospective in nature, does not cover receipt of advance in cash; Deletes Sec.271D penalty

Sep 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-702-ITAT-2022(DEL)
  • Tax Payer : Ruhil Developers Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Share premium received through banking channel cannot be considered unexplained under Sec.68 where Assessee discharged onus

Sep 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-703-ITAT-2022(Mum)
  • Tax Payer : Sejima Texyarn Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes disallowance under Section 40A(3) for cash payment in buying agricultural land under compelling circumstances

Sep 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-712-ITAT-2022(DEL)
  • Tax Payer : Geo Connect Ltd.
High Court

HC: Directs Revenue to issue supplementary SCN to MDH with underlying information in reassessment proceedings

Sep 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-705-HC-2022(DEL)
  • Tax Payer : Mahashian Di Hatti Pvt. Limited
High Court

HC: No 'deemed' registration under Sec.12AA on expiry of 6 months; Follows SC ruling in Harshit Foundation

Sep 10, 2022
  • In Favour of Revenue
  • Citation Number : TS-690-HC-2022(ALL)
  • Tax Payer : Raghuraji Devi Foundation Trust
Supreme Court

SC: Remands Infosys case on ‘royalty’ characterisation, permits Engineering Analysis reliance; Ratio inapplicable, argues Revenue

Sep 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-711-SC-2022
  • Tax Payer : Infosys Technologies Ltd.ETC
Supreme Court

SC: Dismisses SLP against denial of writ on rejection of Assessee's objections to reassessment proceedings

Sep 08, 2022
  • In Favour of Revenue
  • Citation Number : TS-708-SC-2022
  • Tax Payer : Anshul Jain
Income tax Appellate Tribunal

ITAT: Service tax not includible in Cathay Pacific's gross receipts for presumptive taxation under Sec.44BBA

Sep 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-707-ITAT-2022(Kol)
  • Tax Payer : Cathay Pacific airways Limited
High Court

HC: Disallowance for TDS default not sustainable for sum neither claimed in computing Business Income, nor debited to P&L Account

Sep 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-701-HC-2022(CAL)
  • Tax Payer : Linde India Ltd
Income tax Appellate Tribunal

ITAT: Accepts net assets-based valuation for shares acquired prior to Apr’81; Rejects Revenue’s plea of ‘face value’ as fallacious

Sep 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-700-ITAT-2022(Mum)
  • Tax Payer : Sushiladevi R Somani