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Rulings ( 11637 results )

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Income tax Appellate Tribunal

ITAT: Distinguishes copyright royalty from industrial royalty; Deletes penalty over divergent views

Jul 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-552-ITAT-2022(PUN)
  • Tax Payer : Faurecia Systems D’echappement
Supreme Court

SC: Upholds search validity; Advises 'judicial restraint', prescribes 9 principles on writ powers

Jul 13, 2022
  • In Favour of Revenue
  • Citation Number : TS-550-SC-2022
  • Tax Payer : Laljibhai Kanjibhai Mandalia
Income tax Appellate Tribunal

ITAT: Grants stay on entire demand of Rs.155 Cr. as AO fails to comply with DRP’s directions on violation of Sec.144B

Jul 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-547-ITAT-2022(DEL)
  • Tax Payer : Ebro India Pvt. Ltd
High Court

HC: Assessee eligible for set off of losses where Court approved demerger of dysfunctional unit as ‘going concern’

Jul 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-546-HC-2022(KAR)
  • Tax Payer : KBD Sugars And Distilleries Ltd
High Court

HC: Rejects cross-examination​ at preliminary stage of Benami proceedings involving Ms. Sasikala as alleged beneficial owner; Upholds Single Judge's order

Jul 12, 2022
  • In Favour of Revenue
  • Citation Number : TS-545-HC-2022(MAD)
  • Tax Payer : Marg Projects and Infrastructure Ltd
Supreme Court

SC: Substantive right to opt out under Sec.10B(8) warrants strict & timely compliance

Jul 11, 2022
  • In Favour of Revenue
  • Citation Number : TS-544-SC-2022
  • Tax Payer : Wipro Limited
High Court

HC: Remands rejected settlement application to Interim Board; Finds bias as ITSC member earlier supervised investigation on Assessee

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-543-HC-2022(MAD)
  • Tax Payer : K.S. Thirumalaivasan
Income tax Appellate Tribunal

ITAT: Quashes assessment framed by Addl.CIT/ JCIT but initiated by ACIT, in absence of orders under Sec.120(4)(b) & 127

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-542-ITAT-2022(Mum)
  • Tax Payer : Vertiv Energy Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: 'Constitutional Validity' exception to tax-effect Circular not applicable since appeal decided by CIT(A) on merits

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-521-ITAT-2022(CHNY)
  • Tax Payer : Madurai District Central Cooperative Bank Ltd
Income tax Appellate Tribunal

ITAT: Dismisses appeal in limine as Assessee was subjected to insolvency proceedings

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-530-ITAT-2022(Mum)
  • Tax Payer : Mahavir Roads & Infrastructure Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sale of carbon credit, capital receipt where not linked to business but to environmental concern

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-531-ITAT-2022(Mum)
  • Tax Payer : Essel Mining & Industries Limited
Income tax Appellate Tribunal

ITAT: Deletes penalty where Assessee under bona fide belief that journal adjustments permissible under Sec.269SS & 269T

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-532-ITAT-2022(Mum)
  • Tax Payer : Macrotech Developers Limited
Income tax Appellate Tribunal

ITAT: SFIS credit not taxable as utilized against purchase of capital goods & for setting off excise / customs duty

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-540-ITAT-2022(DEL)
  • Tax Payer : Container Corporation of India Ltd
Income tax Appellate Tribunal

ITAT: Imperative for Revenue to ascertain profits alleged as derived from arrangement for denying Sec.10AA deduction

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-533-ITAT-2022(DEL)
  • Tax Payer : Cognizant Technology Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: Foreign rental income declared in returns filed in respective countries, not includible in Indian income

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-535-ITAT-2022(DEL)
  • Tax Payer : Natasha Chopra
High Court

HC: Compensation to end litigation, obtain peaceful & vacant property, not capital expenditure

Jul 09, 2022
  • In Favour of Revenue
  • Citation Number : TS-536-HC-2022(DEL)
  • Tax Payer : ELEL Hotels And Investments Ltd
Income tax Appellate Tribunal

ITAT: Denies Sec.10(23C)(iiiab) exemption where University not ‘substantially funded’ by Govt.

Jul 09, 2022
  • In Favour of Revenue
  • Citation Number : TS-541-ITAT-2022(PUN)
  • Tax Payer : The Punyashlok Ahilyadevi Holkar Solapur University Solapur
Income tax Appellate Tribunal

ITAT: Agent's method of accounting reflecting increased turnover irrelevant for penalising failure to audit books

Jul 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2022(Mum)
  • Tax Payer : Sudhir Mahamunkar
High Court

HC: BMRCL not liable under Sec.194J where dominant purpose of transaction was supply of passenger rail

Jul 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-537-HC-2022(KAR)
  • Tax Payer : Bangalore Metro Rail Corporation Limited
Income tax Appellate Tribunal

ITAT: Allows reinvested dividend as cost of acquisition of debentures, issued against such dividend under Court approved scheme

Jul 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2022(Mum)
  • Tax Payer : JP Morgan Funds