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Income tax Appellate Tribunal
ITAT: CSR expenditure eligible for deduction u/s 80G, remits matter to AO for verification
Dec 04, 2024
- In Favour of Assessee
- Citation Number : TS-885-ITAT-2024(Mum)
- Tax Payer : Mahyco Monsanto Biotech (India) Private Limited
Supreme Court
SC: Reassessment proceedings to be dropped as tax liability below Rs. 50-lakh; Follows Rajiv Bansal
Dec 04, 2024
- In Favour of Assessee
- Citation Number : TS-884-SC-2024
- Tax Payer : Vinal Comtrade Pvt. Ltd
Supreme Court
SC: SC: SC permits deceased assessee's legal representative to challenge reassessment notice as being vitiated
Dec 03, 2024
- In Favour of None/NA
- Citation Number : TS-882-SC-2024
- Tax Payer : Ghanyashyam Anil Dhanani
Income tax Appellate Tribunal
ITAT: No obligation to file Form 10IC where Taxpayer's option of u/s115BAA accepted
Dec 02, 2024
- In Favour of Assessee
- Citation Number : TS-878-ITAT-2024(DEL)
- Tax Payer : Indo British Garments Pvt. Ltd
Supreme Court
SC: SC: Remands limitation issue of reassessment proceedings to the Revenue, relies on Rajeev Bansal
Dec 02, 2024
- In Favour of Assessee
- Citation Number : TS-877-SC-2024
- Tax Payer : Seahorse Mercantile Company Pvt Ltd
High Court
HC: HC: Upholds quashing of reassessment proceedings initiated based on Revenue’s change of opinion
Nov 30, 2024
- In Favour of Assessee
- Citation Number : TS-869-HC-2024(MAD)
- Tax Payer : Sakthi Textiles Ltd
Income tax Appellate Tribunal
ITAT: ITAT: Quashes Sec. 153C assessment, ‘satisfaction note’ devoid of cogent incriminating material & independent investigation
Nov 30, 2024
- In Favour of Assessee
- Citation Number : TS-875-ITAT-2024(DEL)
- Tax Payer : Renu Singh
Income tax Appellate Tribunal
ITAT: ITAT: No TDS on payments to State Government; Disallowance u/s 40(a)(ia) unwarranted
Nov 30, 2024
- In Favour of Both, Partially
- Citation Number : TS-872-ITAT-2024(Mum)
- Tax Payer : Mahaonline Ltd
High Court
HC: HC: Broken period interest allowable as deduction, if securities held as stock-in-trade sans Revenue loss
Nov 30, 2024
- In Favour of Assessee
- Citation Number : TS-868-HC-2024(BOM)
- Tax Payer : HDFC Bank Ltd
Income tax Appellate Tribunal
ITAT: ITAT: Allows depreciation on goodwill under amalgamation, towards excess payment of fair value of assets taken over
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-874-ITAT-2024(Mum)
- Tax Payer : Dow Chemical International Private Ltd.
Income tax Appellate Tribunal
ITAT: ITAT: Mere change of ownership does not disentitle undertaking from benefits u/s 80IA(4)
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-873-ITAT-2024(HYD)
- Tax Payer : Lanco Solar (Gujarat) Private Limited
Income tax Appellate Tribunal
ITAT: ITAT: No liability u/s 201(1A), short deduction of tax u/s 192 corrected in later months
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-871-ITAT-2024(Mum)
- Tax Payer : The Great Eastern Shipping Co. Ltd
Income tax Appellate Tribunal
ITAT: ITAT: Quashes Sec.153C assessment sans incriminating material & independent corroboration with alleged undisclosed cash receipts
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-870-ITAT-2024(Ind)
- Tax Payer : Asnani Builders & Developers Ltd
Income tax Appellate Tribunal
ITAT: ITAT: No liability to deduct TDS u/s 194A, interest paid to bank through group companies
Nov 29, 2024
- In Favour of Assessee
- Citation Number : TS-867-ITAT-2024(Mum)
- Tax Payer : KD Lite Develpers Pvt Ltd
Income tax Appellate Tribunal
ITAT: ITAT: No transfer on execution of agreement, for 56(2)(x) AO to consider circle rate
Nov 28, 2024
- In Favour of Assessee
- Citation Number : TS-866-ITAT-2024(Kol)
- Tax Payer : Tamal Kundu
Income tax Appellate Tribunal
ITAT: ITAT: Allows interest on borrowed funds for purchase of property for long term capital gains computation
Nov 27, 2024
- In Favour of Assessee
- Citation Number : TS-865-ITAT-2024(Mum)
- Tax Payer : Neville Tuli
Income tax Appellate Tribunal
ITAT: Deletes Sec.68 addition; Holds burden of proof cannot be discharged to the hilt by Assessee
Nov 26, 2024
- In Favour of Assessee
- Citation Number : TS-864-ITAT-2024(Mum)
- Tax Payer : Royal India Corporation Limited
Income tax Appellate Tribunal
ITAT: Absence of explanation for charging excess share premium, taxable u/s 56(2)(viib)
Nov 26, 2024
- In Favour of Revenue
- Citation Number : TS-863-ITAT-2024(Ahd)
- Tax Payer : Parasmani Gems Pvt Ltd
High Court
HC: HC: Pending review petition with SC, partakes character of pending proceedings under DTVSV Act
Nov 26, 2024
- In Favour of Assessee
- Citation Number : TS-862-HC-2024(DEL)
- Tax Payer : NRA Iron and Steel Pvt. Ltd.
Income tax Appellate Tribunal
ITAT: No tangible material or failure on part of taxpayer, mere change of opinion, reassessment u/s 147 invalid
Nov 25, 2024
- In Favour of Assessee
- Citation Number : TS-861-ITAT-2024(Mum)
- Tax Payer : The Hongkong and Shangai Banking Corporation Limited