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Rulings ( 11636 results )
Income tax Appellate Tribunal
ITAT: Deletes addition made by CIT(A) basis Bank A/c not considered by AO; Reiterates law on assessment enhancement
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-669-ITAT-2022(Bang)
- Tax Payer : C. N. Babu
Income tax Appellate Tribunal
ITAT: Web hosting charges paid to Amazon not taxable as royalty, not liable for TDS
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-670-ITAT-2022(HYD)
- Tax Payer : Reasoning Global EApplication Ltd
Income tax Appellate Tribunal
ITAT: Services rendered not managerial, thus commission earned not taxable as FTS
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-674-ITAT-2022(DEL)
- Tax Payer : Springer Verlag GmbH
Income tax Appellate Tribunal
ITAT: Allows depreciation on cars to Company, purchased in Directors' name, basis dominion ownership test
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-676-ITAT-2022(Ahd)
- Tax Payer : Shivam Water Treaters Pvt. Ltd
High Court
HC: CIT cannot invoke revisionary power for AY prior to 2015 amendment in Sec.263, over AO inadequate inquiry
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-664-HC-2022(BOM)
- Tax Payer : Shivshahi Punarvasan Prakalp Ltd
High Court
HC: Allows ESOP expenditure to PVR by following Karnataka HC ruling in Biocon
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-675-HC-2022(DEL)
- Tax Payer : PVR Ltd
Income tax Appellate Tribunal
ITAT: Remits JSW's appeal over allowability of CSR expenditure incurred beyond statutory limits
Aug 27, 2022
- In Favour of Assessee
- Citation Number : TS-657-ITAT-2022(Mum)
- Tax Payer : JSW Cement Ltd
Income tax Appellate Tribunal
ITAT: Disallows expenditure against land sale-proceeds as incurred to clear self-created encumbrance & compensate related parties
Aug 26, 2022
- In Favour of Revenue
- Citation Number : TS-673-ITAT-2022(CHNY)
- Tax Payer : Jayapal Sanjay
Income tax Appellate Tribunal
ITAT: Payment to Red Hat Singapore by Indian arm for software subscription, not taxable as Royalty or FTS
Aug 26, 2022
- In Favour of Assessee
- Citation Number : TS-672-ITAT-2022(Mum)
- Tax Payer : Red Hat India Pvt. Ltd
Supreme Court
SC: Reiterates law on bad debts’ allowability; Disallows deduction where sum not written-off in books as irrecoverable
Aug 25, 2022
- In Favour of Revenue
- Citation Number : TS-671-SC-2022
- Tax Payer : Khyati Realtors Pvt. Ltd
Foreign Court
FC: UK's Upper Tribunal upholds replacing cash with preference shares for part consideration in share-transfer, as tax avoidance not main purpose
Aug 25, 2022
- In Favour of Assessee
- Citation Number : TS-668-FC-2022(UK)
- Tax Payer : Euromoney Institutional Investor PLC
Income tax Appellate Tribunal
ITAT: Holds option agreement with group entity for interim funding as commercially prudent, not sham transaction
Aug 24, 2022
- In Favour of Assessee
- Citation Number : TS-666-ITAT-2022(Mum)
- Tax Payer : K. Raheja Pvt. Ltd
High Court
HC: Follows SC ruling in Rajesh Jhaveri to uphold reassessment proceeding against Big 4's US arm under new regime
Aug 24, 2022
- In Favour of Revenue
- Citation Number : TS-667-HC-2022(DEL)
- Tax Payer : Ernst And Young U.S. LLP
Supreme Court
SC: Holds Benami Act amendments as substantive in nature; Forfeiture envisaged, punitive in nature, cannot be retroactive
Aug 23, 2022
- In Favour of Assessee
- Citation Number : TS-665-SC-2022
- Tax Payer : Ganpati Dealcom Pvt. Ltd
Supreme Court
SC: Declines to interfere with Karnataka HC judgment on valuation of IISc employees' residential accommodation
Aug 22, 2022
- In Favour of Revenue
- Citation Number : TS-662-SC-2022
- Tax Payer : Indian Institute Of Science
Income tax Appellate Tribunal
ITAT: Intimation not assessment order for all purposes but subject to 4 years' limitation for rectification
Aug 22, 2022
- In Favour of Revenue
- Citation Number : TS-660-ITAT-2022(HYD)
- Tax Payer : Zintec Software (P) Ltd
High Court
HC: VsV benefit applicable to Company petition for interest-waiver; Holds Revenue's approach 'hyper technical'
Aug 20, 2022
- In Favour of Assessee
- Citation Number : TS-661-HC-2022(DEL)
- Tax Payer : Kapri International (P) Ltd
Income tax Appellate Tribunal
ITAT: Upholds income declaration by land owner under Project Completion Method; Advances not taxable on receipt basis
Aug 20, 2022
- In Favour of Assessee
- Citation Number : TS-648-ITAT-2022(Mum)
- Tax Payer : Suratchandra B. Thakkar (HUF)
Income tax Appellate Tribunal
ITAT: Allows revised return based on consolidated balance sheet pursuant to amalgamation, against defective return notice
Aug 20, 2022
- In Favour of Assessee
- Citation Number : TS-650-ITAT-2022(DEL)
- Tax Payer : Rohit Bal Designs Pvt. Ltd.
Income tax Appellate Tribunal
ITAT: Upholds reassessment notice issued before expiry of time limit for initiating scrutiny assessment
Aug 20, 2022
- In Favour of Revenue
- Citation Number : TS-654-ITAT-2022(Bang)
- Tax Payer : C. Gangadhara Murthy