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Rulings ( 11637 results )

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Income tax Appellate Tribunal

ITAT: Accepts FMV/actual consideration sans DVO reference, despite Assessee's request; Distinguishes ​​Ansal Housing​ ruling​​ ​on notional rent

Jun 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-487-ITAT-2022(JPR)
  • Tax Payer : Goverdhan Prasad Singhal
Supreme Court

SC: Declines interference in HC order dismissing challenge against reassessment proceeding under new regime

Jun 20, 2022
  • In Favour of Revenue
  • Citation Number : TS-486-SC-2022
  • Tax Payer : GIAN Castings Private Limited
Income tax Appellate Tribunal

ITAT: Mere cash deposits by Assessee cannot be construed as undisclosed income, quashes reassessment

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-475-ITAT-2022(PUN)
  • Tax Payer : Sanjay Sadashiv Navale
Income tax Appellate Tribunal

ITAT: Pendency of appeal against ITAT’s order favouring Assessee, no reason to cancel Sec.12A registration

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-477-ITAT-2022(Bang)
  • Tax Payer : Devaraj Urs Educational Trust for Backward Classes
Income tax Appellate Tribunal

ITAT: Refund already granted first adjustable against interest component for determining interest under Sec.244A

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-480-ITAT-2022(Mum)
  • Tax Payer : MSM Satellite (Singapore) Pte. Ltd.
Income tax Appellate Tribunal

ITAT: Deletes Section 68 addition attributable to loan transaction substantiated by documents, lender’s response to section 133(6)

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-482-ITAT-2022(Mum)
  • Tax Payer : Talisman Securities Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec.69A inapplicable on cash deposited during demonetisation, basis past trend of regular deposits

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-479-ITAT-2022(HYD)
  • Tax Payer : Lateef Abdul Mohd.
Income tax Appellate Tribunal

ITAT: Quashes Genpact's revisionary order as AO made sufficient inquiries, expressed satisfaction

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-470-ITAT-2022(DEL)
  • Tax Payer : Genpact Consulting [Singapore] Pte Ltd
High Court

HC: Denies lawyer’s presence during PMLA interrogation sans apprehension of coercion

Jun 18, 2022
  • In Favour of Revenue
  • Citation Number : TS-483-HC-2022(DEL)
  • Tax Payer : Satyendar Kumar Jain
High Court

HC: Quashes prosecution initiated subsequent to deposit of TDS-default amount with interest

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-478-HC-2022(JHAR)
  • Tax Payer : Dev Multicom Private Ltd
Income tax Appellate Tribunal

ITAT: 'Effective Connection' with PE, prerequisite for taxability of interest under Art.7; Rejects Revenue's plea of exclusion under Art.11(6)

Jun 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-485-ITAT-2022(Mum)
  • Tax Payer : Marubeni Corporation, Japan
High Court

HC: Quashes assessment based on TPO reference after expiry of time limit u/s 153; Disregards Revenue's estoppel plea

Jun 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-474-HC-2022(MAD)
  • Tax Payer : Virtusa Consulting Services Pvt. Ltd
High Court

HC: Rejects HDFC Bank's application for quashing Revenue's FIR against contravention of Sec.132(3) restraint order

Jun 15, 2022
  • In Favour of Revenue
  • Citation Number : TS-472-HC-2022(PAT)
  • Tax Payer : H.D.F.C. Bank
High Court

HC: Holds Sections 144C and 153 to be mutually-inclusive; Limitation period u/s. 153(2A) or 153(3) applicable in remand cases

Jun 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-473-HC-2022(MAD)
  • Tax Payer : Roca Bathroom Products Private Limited
High Court

HC: Calcutta HC dissects penny stock transactions, reiterates ITAT's role as final fact finding authority

Jun 14, 2022
  • In Favour of Revenue
  • Citation Number : TS-471-HC-2022(CAL)
  • Tax Payer : Swati Bajaj and Others
Income tax Appellate Tribunal

ITAT: Bandwidth charges reimbursed by Madura Coats to UK Group Co., neither royalty nor FTS

Jun 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-469-ITAT-2022(Bang)
  • Tax Payer : Madura Coats Pvt Ltd
Income tax Appellate Tribunal

ITAT: Transfer of shares with eroding net-worth received from loan-conversion, colourable device; Rejects commercial expediency plea

Jun 14, 2022
  • In Favour of Revenue
  • Citation Number : TS-468-ITAT-2022(Bang)
  • Tax Payer : O3 Capital Global Advisory Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Trust making surplus no ground for denying Sec.10(23C)(v) benefit; Allows exemption to Gurudwara Nanded Sahib

Jun 13, 2022
  • In Favour of Assessee
  • Citation Number : TS-465-ITAT-2022(PUN)
  • Tax Payer : The Nanded Sikhgurudwara Sachkhand Hazur Apchalnagar Sahib
Income tax Appellate Tribunal

ITAT: Taxability of corpus donation, debatable issue, not rectifiable under Sec.154

Jun 11, 2022
  • In Favour of Revenue
  • Citation Number : TS-463-ITAT-2022(CHNY)
  • Tax Payer : Periyasamy Pillai Educational Trust
Income tax Appellate Tribunal

ITAT: Submission in rectification proceeding cannot lead to review of order; Dismisses MA

Jun 11, 2022
  • In Favour of Revenue
  • Citation Number : TS-466-ITAT-2022(DEL)
  • Tax Payer : Sahara India Life Insurance Co. Ltd