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Rulings ( 11637 results )

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High Court

HC: Compounding of offences, not absolute right; Non-filing of return while staying abroad, no ground to quash prosecution

Jul 08, 2022
  • In Favour of Revenue
  • Citation Number : TS-534-HC-2022(MAD)
  • Tax Payer : Anjuga Selvi Alagiri
Income tax Appellate Tribunal

ITAT: Difference in closing & opening stock irrelevant where forex profit offered to tax basis Rule 115

Jul 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-529-ITAT-2022(Mum)
  • Tax Payer : Anurag Chandra
High Court

HC: Upholds Third Member’s view that ‘payment’ in Sec.40A(3) limited to cash / monetary payments

Jul 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-528-HC-2022(CAL)
  • Tax Payer : Bhartiya Hotels Ltd
Income tax Appellate Tribunal

ITAT: FA 2022 amendment to Sec.14A for disallowance of expenditure in absence of exempt income, clarificatory in nature, applicable retrospectively

Jul 07, 2022
  • In Favour of Revenue
  • Citation Number : TS-527-ITAT-2022(GAU)
  • Tax Payer : Williamson Financial Services Ltd
High Court

HC: Non-obstante provision of Sec.153A allows assessment of total income, not limited to incriminating material alone

Jul 06, 2022
  • In Favour of Revenue
  • Citation Number : TS-526-HC-2022(ALL)
  • Tax Payer : Shri Mehndipur Balaji
Income tax Appellate Tribunal

ITAT: ‘Consideration’ wider than 'receipt of money'; Holds conversion of CCDs into equity shares covered under Sec. 56(2)(viib)

Jul 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-525-ITAT-2022(Kol)
  • Tax Payer : Milk Mantra Dairy Pvt. Ltd
High Court

HC: Bottles & Crates used by Parle in distribution of soft drinks depreciable as 'Plant'

Jul 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-524-HC-2022(BOM)
  • Tax Payer : Parle Bisleri Private Limited
Income tax Appellate Tribunal

ITAT: Disallows set-off of losses to Cummins despite HC’s approval to demerger since sole underlying purpose was tax-benefit

Jul 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-523-ITAT-2022(PUN)
  • Tax Payer : Cummins Sales & Services (I) Ltd. (Formerly known as Cummins Diesels Sales & Services Ltd.)
Income tax Appellate Tribunal

ITAT: Rules on TDS liability and PE status of Indian Insurance Broker facilitating premium for Indian Cedant to non-resident reinsurers via Singapore-based Broker

Jul 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-522-ITAT-2022(Mum)
  • Tax Payer : International Reinsurance and Insurance Consultancy & Broking Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Lease equalisation charges basis AS-19, allowable; Logo development expenses for contract terminated midway, deductible

Jul 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-520-ITAT-2022(DEL)
  • Tax Payer : Claridge Hotels Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Compensatory fine paid for redeeming goods, allowable under Sec.37(1) but not the penalty

Jul 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-514-ITAT-2022(DEL)
  • Tax Payer : Akshay Khetterpal
Income tax Appellate Tribunal

ITAT: Sec.69A addition on Revenue’s mere disbelief of explanation offered, not sustainable

Jul 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2022(PUN)
  • Tax Payer : Maruti Nivrutti Navale
Income tax Appellate Tribunal

ITAT: Share transfer taxable in India where Assessee's residential status not in dispute

Jul 02, 2022
  • In Favour of Revenue
  • Citation Number : TS-504-ITAT-2022(Bang)
  • Tax Payer : Prabhukumar Aiyappa Kullatira
Income tax Appellate Tribunal

ITAT: Non-service of notice on Assessee in judicial custody renders the revisionary order invalid

Jul 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2022(CTK)
  • Tax Payer : Narayan Kumar Khaitan
Income tax Appellate Tribunal

ITAT: Delay of over 500 days in challenging revisionary order not condonable; Ignorance of law no excuse for educated Assessee

Jul 02, 2022
  • In Favour of Revenue
  • Citation Number : TS-518-ITAT-2022(CHNY)
  • Tax Payer : Preeti Madhok
Income tax Appellate Tribunal

ITAT: Inadvertent technical fault in challan cannot debar Assessee from claiming DDT credit

Jul 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-516-ITAT-2022(Ahd)
  • Tax Payer : Strategic Infosystems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty on Linklaters where full disclosure was made despite adverse order on merits

Jul 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-515-ITAT-2022(Mum)
  • Tax Payer : Linklaters
Income tax Appellate Tribunal

ITAT: Hearing on demand clause in Faceless Appeal Scheme, 2021 applicable retrospectively, since beneficial

Jul 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2022(Mum)
  • Tax Payer : Bank of India
Income tax Appellate Tribunal

ITAT: Allows purchase price of shares under Group ESOP Plan as revenue expenditure to Morgan Stanley

Jun 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-511-ITAT-2022(Mum)
  • Tax Payer : Morgan Stanley Advantage Services Pvt. Ltd
Foreign Court

FC: Danish Tax Council holds German company’s employee's home-office in Denmark constitutes PE

Jun 30, 2022
  • In Favour of Revenue
  • Citation Number : TS-510-FC-2022(DEN)
  • Tax Payer : Sporger