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Rulings ( 11636 results )

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Income tax Appellate Tribunal

ITAT: 10% margin under Sec.43CA applicable retrospectively, since beneficial in nature

Aug 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-658-ITAT-2022(PUN)
  • Tax Payer : Sai Bhargavanath Infra
Income tax Appellate Tribunal

ITAT: Depreciation on capacitors 'ready to use' not allowable due to termination of lease; Remits on allowability as business loss

Aug 20, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-659-ITAT-2022(Mum)
  • Tax Payer : L&T Ltd
Supreme Court

SC: Situs of officer who actually assesses is relevant for deciding HC’s appellate jurisdiction, despite transfer of 'case' under Sec.127

Aug 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-656-SC-2022
  • Tax Payer : ABC Papers Limited
Income tax Appellate Tribunal

ITAT: Reference to DVO without rejecting Assessee's books, invalid; 2014 amendment to Sec.142A not retrospective

Aug 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-655-ITAT-2022(Bang)
  • Tax Payer : K. Satish Kumar
Income tax Appellate Tribunal

ITAT: Rejects NIIT's plea for quashing Sec.153A assessment over Revenue's inability to produce search warrant; On merits, allows depreciation

Aug 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-653-ITAT-2022(DEL)
  • Tax Payer : NIIT Online Learning Ltd
High Court

HC: Directs for Circular warranting non-interference in AO's quasi-judicial function; Defers hearing for Rs.50 Lacs cost on Revenue

Aug 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-652-HC-2022(ALL)
  • Tax Payer : S R Cold Storage
Income tax Appellate Tribunal

ITAT: CSR expenses, not allowable adjustment for MAT computation; Deletes addition

Aug 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-649-ITAT-2022(DEL)
  • Tax Payer : GE Power Systems India Private Limited, (formerly known as Alstom Bharat Forge Power Private Limited)
Income tax Appellate Tribunal

ITAT: Leela's claim on Kovalam Hotels' losses under Sec.72A not tenable until carry forward allowed under Sec.79 for prior year by appellate order

Aug 16, 2022
  • In Favour of Revenue
  • Citation Number : TS-647-ITAT-2022(Mum)
  • Tax Payer : Hotel Leela Venture Ltd
High Court

HC: No TDS on interest on compensation awarded by MACT prior to FA 2015 amendment; Cannot burden claimants with refund process

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-642-HC-2022(P & H)
  • Tax Payer : New India Assurance Company Limited
High Court

HC: Assessee eligible for interest under Sec.244A(1)(b) on sum refundable due to recomputation; Rejects Revenue's plea of 'interest on interest'

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-640-HC-2022(DEL)
  • Tax Payer : Punjab & Sind Bank
Income tax Appellate Tribunal

ITAT: Sec.54F benefit available to NR for residential property situated outside India, prior to AY 2015-16

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-639-ITAT-2022(DEL)
  • Tax Payer : Andrey Andreev
Income tax Appellate Tribunal

ITAT: Deletes adjustments by CPC under Sec.10(23EA) & 11, made beyond its statutory mandate for AY 2015-16

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-638-ITAT-2022(Mum)
  • Tax Payer : National Stock Exchange Investor Protection Fund Trust
Income tax Appellate Tribunal

ITAT: Delay of over 3800 days in challenging CIT(A) order, not condonable; Holds ignorance of law no excuse

Aug 13, 2022
  • In Favour of Revenue
  • Citation Number : TS-628-ITAT-2022(DEL)
  • Tax Payer : Brijesh Charitable Trust
Income tax Appellate Tribunal

ITAT: Deletes Sec.56(2)(viia) addition based on increase in face value after share-acquisition as violative of Rule 11UA

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-633-ITAT-2022(DEL)
  • Tax Payer : Convergys India Services Pvt. Ltd
High Court

HC: Sets aside reassessment proceeding over ambiguity on allegation; Remands the matter with amendment in SCN

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-635-HC-2022(DEL)
  • Tax Payer : Rajnish Puri
High Court

HC: Delay in issuing reassessment notice, a substantial lapse, not curable by corrigendum

Aug 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-646-HC-2022(KAR)
  • Tax Payer : INFINEON TECHNOLOGIES AG
Income tax Appellate Tribunal

ITAT: Abbott eligible for depreciation on Rs.513 Cr. of non-compete fee paid to Piramal; Allows additional ground

Aug 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-645-ITAT-2022(Mum)
  • Tax Payer : Abbott Healthcare Private Limited
Income tax Appellate Tribunal

ITAT: Quashes TDS-default orders against Google India as time barred, for 2 AYs over payment to Google Ireland for Adword Program

Aug 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-643-ITAT-2022(Bang)
  • Tax Payer : Google India Pvt Ltd
High Court

HC: Upholds reassessment where AO issuing notice enjoyed territorial jurisdiction but lacked pecuniary jurisdiction

Aug 12, 2022
  • In Favour of Revenue
  • Citation Number : TS-644-HC-2022(ALL)
  • Tax Payer : Shivaaditiya Jems And Jewellery Private Limited
High Court

HC: Extension Notification inapplicable on Benami Authority after end of additional charge arrangement, for passing reserved orders

Aug 11, 2022
  • In Favour of Revenue
  • Citation Number : TS-641-HC-2022(DEL)
  • Tax Payer : Ramaa Advisors Pvt. Ltd