Weekly Digest
Income tax Appellate Tribunal
ITAT: Quashes CIT(A) order to recompute TDS sans enforceable AO order; Appeal infructuous, HC quashed Sec. 201 order
Feb 15, 2025
- In Favour of : Assessee
- Citation Number : TS-104-ITAT-2025(DEL)
Income tax Appellate Tribunal
ITAT: Deletes stock discrepancy addition, on director’s statement recorded during survey sans evidentiary value
Feb 15, 2025
- In Favour of : Assessee
- Citation Number : TS-109-ITAT-2025(CHNY)
High Court
HC: Assessment u/s143(3) completed in name of non-existing entities void ab initio
Feb 15, 2025
- In Favour of : Assessee
- Citation Number : TS-108-HC-2025(BOM)
Income tax Appellate Tribunal
ITAT: Deletes Sec. 69A addition, cash deposits during demonetisation, accepts Assessee’s explanation of medical emergency
Feb 15, 2025
- In Favour of : Assessee
- Citation Number : TS-98-ITAT-2025(Ahd)
Income tax Appellate Tribunal
ITAT: Prerequisite conditions for levying penalty u/s 271(1)(c) missing, deletes penalty
Feb 15, 2025
- In Favour of : Assessee
- Citation Number : TS-106-ITAT-2025(CHANDI)
High Court
HC: Quashes reassessment proceedings being time barred, follows SC judgments in Ashish Agarwal & Rajiv Bansal
Feb 08, 2025
- In Favour of : Assessee
- Citation Number : TS-90-HC-2025(DEL)
High Court
HC: Validates CBDT Notification limiting Sec. 80IB(10) benefit for slum redevelopment project; Denies Sec. 80IB(10) benefit
Feb 08, 2025
- In Favour of : Revenue
- Citation Number : TS-70-HC-2025(BOM)
Income tax Appellate Tribunal
ITAT: TDS liability on year-end provision accrues only for ascertained liability
Feb 08, 2025
- In Favour of : Assessee
- Citation Number : TS-71-ITAT-2025(CHNY)
Income tax Appellate Tribunal
ITAT: Upholds validity of reassessment, sans filing of ROI; Partially deletes unaccounted cash deposits
Feb 08, 2025
- In Favour of : Assessee
- Citation Number : TS-93-ITAT-2025(PUN)
Income tax Appellate Tribunal
ITAT: Sec.69A addition qua cash deposit on Revenue’s mere disbelief of explanation offered, not sustainable
Feb 08, 2025
- In Favour of : Assessee
- Citation Number : TS-62-ITAT-2025(PUN)
High Court
HC: Interest u/s 234B & 234C not chargeable on tax liability determined under MAT; Follows Mangalore Refinery
Jan 25, 2025
- In Favour of : Assessee
- Citation Number : TS-48-HC-2025(BOM)
Income tax Appellate Tribunal
ITAT: Directs CIT(E) to grant registration u/s 12AB, despite inadvertent procedural error in filing application
Jan 25, 2025
- In Favour of : Assessee
- Citation Number : TS-51-ITAT-2025(CHNY)
Income tax Appellate Tribunal
ITAT: No addition u/s 2(24)(iv), credit card expenditure suo moto disallowed by Company u/s 37(1); Violates double taxation principle
Jan 25, 2025
- In Favour of : Assessee
- Citation Number : TS-47-ITAT-2025(CHNY)
Income tax Appellate Tribunal
ITAT: Allows MakeMyTrip’s appeal against revision order disallowing ESOP expenditure
Jan 25, 2025
- In Favour of : Assessee
- Citation Number : TS-49-ITAT-2025(DEL)
Income tax Appellate Tribunal
ITAT: Disallowance u/s 36(1)(iii) unsustainable on interest free funds, proven commercial expediency
Jan 25, 2025
- In Favour of : Assessee
- Citation Number : TS-53-ITAT-2025(Mum)
High Court
HC: Directs processing the condonation application for delayed ITRs pending over 5 years
Jan 18, 2025
- In Favour of : Assessee
- Citation Number : TS-33-HC-2025(RAJ)
Income tax Appellate Tribunal
ITAT: Assessment without Sec.153D approval void; Sec.153D approval for “each assessment year” separately
Jan 18, 2025
- In Favour of : Assessee
- Citation Number : TS-32-ITAT-2025(RAI)
Income tax Appellate Tribunal
ITAT: Reassessment basis DRI report alleging unaccounted foreign remittances valid; Affirms ‘reasons to believe’ on tangible material sufficient
Jan 18, 2025
- In Favour of : Assessee
- Citation Number : TS-977-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Deletes disallowance u/s 40(a)(ia) on account of reimbursement of expenses
Jan 18, 2025
- In Favour of : Assessee
- Citation Number : TS-14-ITAT-2025(Mum)
Income tax Appellate Tribunal
ITAT: Revision order on issues not subject matter of appellate proceedings, is valid
Jan 18, 2025
- In Favour of : Revenue
- Citation Number : TS-24-ITAT-2025(RAI)
Income tax Appellate Tribunal
ITAT: Non-issuance of Sec.143(2) notice to amalgamated company ‘foundational infirmity’, fatal to assessment
Jan 11, 2025
- In Favour of : Assessee
- Citation Number : TS-12-ITAT-2025(DEL)
Income tax Appellate Tribunal
ITAT: Following Galileo ruling, upholds 15% attribution of revenue to UK based co.'s PE in India
Jan 11, 2025
- In Favour of : Assessee
- Citation Number : TS-974-ITAT-2024(DEL)
High Court
HC: Revenue authorities cannot withhold refunds due to ‘procedural hitch’; Unnecessary delay affects public-exchequer
Jan 11, 2025
- In Favour of : Assessee
- Citation Number : TS-973-HC-2024(BOM)
Income tax Appellate Tribunal
ITAT: Quashes revisional-order citing improper service of SCN and violation of natural justice
Jan 11, 2025
- In Favour of : Assessee
- Citation Number : TS-07-ITAT-2025(Mum)
Income tax Appellate Tribunal
ITAT: Deletes penalty for delayed tax audit report submission; Accepts Assessee’s improper professional advice plea
Jan 04, 2025
- In Favour of : Assessee
- Citation Number : TS-963-ITAT-2024(COCH)
Income tax Appellate Tribunal
ITAT: Sec. 271(1)(c) penalty leviable on failure to disclose capital gain income by non-resident; Remits matter
Jan 04, 2025
- In Favour of : Revenue
- Citation Number : TS-961-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Quashes Sec. 148 notice issued beyond 3 years over improper sanction; Follows Rajeev Bansal
Jan 04, 2025
- In Favour of : Assessee
- Citation Number : TS-960-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Invocation of Sec. 14A r.w.Rule 8D bad in law sans satisfaction recorded by AO
Jan 04, 2025
- In Favour of : Assessee
- Citation Number : TS-964-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Loss on forex loan repayment for business expansion allowable u/s 37(1); Rejects Sec. 43A plea
Dec 28, 2024
- In Favour of : Assessee
- Citation Number : TS-947-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Quashes reassessment, sans disposal of Assessee’s objection on reassessment; Violative of GKN Driveshaft judgment
Dec 28, 2024
- In Favour of : Assessee
- Citation Number : TS-945-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Allows Sec. 80P deduction on interest income of cooperative society; Distinguishes Totgars Judgments
Dec 28, 2024
- In Favour of : Assessee
- Citation Number : TS-944-ITAT-2024(COCH)
Income tax Appellate Tribunal
ITAT: Quashes revision against Sec. 57 deduction; Expln 2 to Sec. 263 does not confer unchecked power for revision
Dec 28, 2024
- In Favour of : Assessee
- Citation Number : TS-948-ITAT-2024(JODH)
Income tax Appellate Tribunal
ITAT: Allows Sec. 80IA deduction on ‘market value’ of rail system development; Follows Jindal Steel & Power
Dec 21, 2024
- In Favour of : Assessee
- Citation Number : TS-932-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Deletes addition on capital advance refund; Assessee discharged primary onus, despite disparity in receiver & payer
Dec 21, 2024
- In Favour of : Assessee
- Citation Number : TS-930-ITAT-2024(Ahd)
Income tax Appellate Tribunal
ITAT: Dismisses Revenue’s appeal having low tax effect, in view of CBDT’s revised monitory limit of Rs. 60 Lacs
Dec 21, 2024
- In Favour of : Assessee
- Citation Number : TS-915-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Denies Sec. 11 exemption, delay in filing return u/s 139(4) deadline; Remits back for denovo adjudication
Dec 21, 2024
- In Favour of : Revenue
- Citation Number : TS-931-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: No TDS liability u/s 193/194A on acquisition of 'right to receive' sans borrower-lender relationship
Dec 14, 2024
- In Favour of : Assessee
- Citation Number : TS-892-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Deletes penalty for delayed tax audit report submission, Assessee unaware about tax audit due date
Dec 14, 2024
- In Favour of : Assessee
- Citation Number : TS-891-ITAT-2024(Bang)
Income tax Appellate Tribunal
ITAT: Allows deduction u/s 80P on dividend received from investment in co-operative bank; Follows Mavilayi Service
Dec 14, 2024
- In Favour of : Assessee
- Citation Number : TS-912-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Grants Sec. 80IA(4) benefit to sub-contractor for civil construction project, financial & entrepreneurial risks borne by Developer
Dec 14, 2024
- In Favour of : Assessee
- Citation Number : TS-893-ITAT-2024(HYD)
Income tax Appellate Tribunal
ITAT: No addition can be made for issues not forming part of reasons recorded for reassessment; Relies on Jet Airways
Dec 14, 2024
- In Favour of : Assessee
- Citation Number : TS-905-ITAT-2024(Mum)
High Court
HC: Broken period interest allowable as deduction, if securities held as stock-in-trade sans Revenue loss
Nov 30, 2024
- In Favour of : Assessee
- Citation Number : TS-868-HC-2024(BOM)
Income tax Appellate Tribunal
ITAT: No TDS on payments to State Government; Disallowance u/s 40(a)(ia) unwarranted
Nov 30, 2024
- In Favour of : Both, Partially
- Citation Number : TS-872-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Quashes Sec. 153C assessment, ‘satisfaction note’ devoid of cogent incriminating material & independent investigation
Nov 30, 2024
- In Favour of : Assessee
- Citation Number : TS-875-ITAT-2024(DEL)
High Court
HC: Upholds quashing of reassessment proceedings initiated based on Revenue’s change of opinion
Nov 30, 2024
- In Favour of : Assessee
- Citation Number : TS-869-HC-2024(MAD)
Income tax Appellate Tribunal
ITAT: Quashes Sec.153C assessment sans incriminating material & independent corroboration with alleged undisclosed cash receipts
Nov 29, 2024
- In Favour of : Assessee
- Citation Number : TS-870-ITAT-2024(Ind)
High Court
HC: Quashes reassessment, investor not in sham transaction, no intelligible nexus between reasons & belief
Nov 23, 2024
- In Favour of : Assessee
- Citation Number : TS-859-HC-2024(MAD)
Income tax Appellate Tribunal
ITAT: Arbitration award for breach of contractual obligation, business income; Not taxable sans PE
Nov 23, 2024
- In Favour of : Assessee
- Citation Number : TS-857-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: No make available clause satisfied under Article 12(4), India-US DTAA on sale of copyrighted article
Nov 23, 2024
- In Favour of : Assessee
- Citation Number : TS-851-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Denial of FTC unsustainable, procedural compliance stands satisfied by submission of Form 67
Nov 23, 2024
- In Favour of : Assessee
- Citation Number : TS-860-ITAT-2024(Kol)
High Court
HC: TDS default penalty time barred; Limitation reckonable from reference date, not SCN
Nov 16, 2024
- In Favour of : Assessee
- Citation Number : TS-842-HC-2024(DEL)
Income tax Appellate Tribunal
ITAT: Stamp duty value on sale agreement date relevant, agreement & registration date differs; Deletes Sec.43CA addition
Nov 16, 2024
- In Favour of : Assessee
- Citation Number : TS-841-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Reassessment u/s 148 sans proper reasons, invalid; Independent investigation of unsecured loans by AO mandatory.
Nov 16, 2024
- In Favour of : Assessee
- Citation Number : TS-844-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Allows Sec.80P deduction on interest income of cooperative society; Follows Mavilayi Service Co-op Bank ruling
Nov 16, 2024
- In Favour of : Assessee
- Citation Number : TS-843-ITAT-2024(PAN)
Income tax Appellate Tribunal
ITAT: Allows FTC to AZB on tax withheld in Japan & Nepal on professional legal fees; Follows Amarchand ruling
Nov 09, 2024
- In Favour of : Assessee
- Citation Number : TS-819-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Quashes penalty u/s270A sans categorical finding of ‘mis-reporting’ or under-reporting’ of income
Nov 09, 2024
- In Favour of : Assessee
- Citation Number : TS-812-ITAT-2024(Mum)
High Court
HC: Assessee entitled to interest waiver determined in post-search assessment; Quashes Form3 under DTVSV
Nov 09, 2024
- In Favour of : Assessee
- Citation Number : TS-808-HC-2024(KAR)
Income tax Appellate Tribunal
ITAT: Depreciation on goodwill allowable arising from approved amalgamation scheme; Follows Urmin Marketing
Nov 09, 2024
- In Favour of : Assessee
- Citation Number : TS-821-ITAT-2024(Ahd)
High Court
HC: Sec.153C proceedings commences from date seized material are handed over to AO; Upholds assessment
Nov 09, 2024
- In Favour of : Revenue
- Citation Number : TS-816-HC-2024(TEL)
High Court
HC: Reprimands CIT(A) over non-adjudication of appeal pending for more than 8 years; Directs disposal within 3 months
Oct 26, 2024
- In Favour of : Assessee
- Citation Number : TS-793-HC-2024(BOM)
Income tax Appellate Tribunal
ITAT: DSIR certifies Sec.35(2AB) scientific expense, disallowance of deduction or further scrutiny not valid by AO
Oct 26, 2024
- In Favour of : Assessee
- Citation Number : TS-794-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Allows FTC to Amarchand Mangaldas on tax withheld in Japan on professional legal fees
Oct 26, 2024
- In Favour of : Assessee
- Citation Number : TS-790-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Sales, marketing services rendered abroad by NR-agent not FTS, not liable to TDS
Oct 26, 2024
- In Favour of : Assessee
- Citation Number : TS-787-ITAT-2024(CHNY)
High Court
HC: Income correctly categorized as ‘income from business’, principle of consistency to be followed
Oct 26, 2024
- In Favour of : Assessee
- Citation Number : TS-781-HC-2024(BOM)
Income tax Appellate Tribunal
ITAT: Prize winning from unsold lottery tickets taxable as business income, not income from other sources
Oct 19, 2024
- In Favour of : Assessee
- Citation Number : TS-761-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Upholds Sec.153A assessment, Assessee’s failure to provide ‘no objection waiver form’ for verifying undisclosed bank account
Oct 19, 2024
- In Favour of : Revenue
- Citation Number : TS-656-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Revenue appeal 'infructuous' sans remedy against CIT(A) order, as 'Appeal Effect' order grants exemption u/s10(26AAB)
Oct 19, 2024
- In Favour of : Assessee
- Citation Number : TS-777-ITAT-2024(LKW)
Income tax Appellate Tribunal
ITAT: Deletes Sec.40(a)(ia) disallowance on payment towards sales commission to US subsidiary; Rejects taxability as FTS
Oct 19, 2024
- In Favour of : Assessee
- Citation Number : TS-773-ITAT-2024(Bang)
Income tax Appellate Tribunal
ITAT: Quashes reassessment sans Sec.143(2) notice issued prior to finalisation of reassessment order
Oct 19, 2024
- In Favour of : Assessee
- Citation Number : TS-771-ITAT-2024(SUR)
Income tax Appellate Tribunal
ITAT: Appeal dismissal over non-payment of tax despite non-applicability of Sec.249(4)(b) as per Form 35 invalid
Oct 12, 2024
- In Favour of : Assessee
- Citation Number : TS-753-ITAT-2024(Ahd)
Income tax Appellate Tribunal
ITAT: Capital reserve created on amalgamation, capital in nature, not taxable as perquisite u/s 28(iv)
Oct 12, 2024
- In Favour of : Assessee
- Citation Number : TS-754-ITAT-2024(Mum)
Income tax Appellate Tribunal
ITAT: Technical inspection services, scanning of offshore pipeline under sea, not FTS sans ‘Make available’ fulfillment
Oct 12, 2024
- In Favour of : Assessee
- Citation Number : TS-742-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Deletes unexplained share premium addition, Assessee established source of funds & genuineness of investment
Oct 12, 2024
- In Favour of : Assessee
- Citation Number : TS-738-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Non-initiation of Sec.270A, no ground to initiate revisionary proceedings
Oct 12, 2024
- In Favour of : Assessee
- Citation Number : TS-752-ITAT-2024(CHNY)
High Court
HC: Upholds Sec.80-IA deduction towards port development post agreement with State nodal agency
Oct 05, 2024
- In Favour of : Assessee
- Citation Number : TS-728-HC-2024(CAL)
Income tax Appellate Tribunal
ITAT: Disallowance u/Sec.40A(3)/40(a)(ia) unwarranted, where profits estimated post rejection of books of accounts
Oct 05, 2024
- In Favour of : Assessee
- Citation Number : TS-732-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Quashes penalty as Revenue failed to point specific action u/Sec.270A(9) for imposition of penalty
Oct 05, 2024
- In Favour of : Assessee
- Citation Number : TS-726-ITAT-2024(Bang)
Income tax Appellate Tribunal
ITAT: Block period for Sec.153C proceedings begins from receipt of seized material by AO; Quashes Sec.153 proceedings
Oct 05, 2024
- In Favour of : Assessee
- Citation Number : TS-731-ITAT-2024(CHNY)
High Court
HC: Amendment to Sec.14A prospective in nature, follows Era Infrastructure, reprimands ITAT
Sep 28, 2024
- In Favour of : Assessee
- Citation Number : TS-718-HC-2024(GAUH)
High Court
HC: Reiterates legal position on 'substantial question of law', no dispute over genuineness of loss
Sep 28, 2024
- In Favour of : Assessee
- Citation Number : TS-713-HC-2024(KAR)
High Court
HC: Approval u/s10(23C) cannot be denied sans specific findings on objects qua ‘educational activities’
Sep 28, 2024
- In Favour of : Assessee
- Citation Number : TS-708-HC-2024(CHAT)
Income tax Appellate Tribunal
ITAT: Infrastructure devpt. co. ineligible for depreciation u/s32 on toll roads sans ‘ownership’; Follows North Karnataka
Sep 28, 2024
- In Favour of : Revenue
- Citation Number : TS-716-ITAT-2024(Mum)
High Court
HC: Bad debts deduction u/s36(1)(viia) allowable, adjusted in subsequent AY, Sec.36(1)(vii) & 36(1)(viia) distinct & independent
Sep 21, 2024
- In Favour of : Assessee
- Citation Number : TS-700-HC-2024(BOM)
Income tax Appellate Tribunal
ITAT: Condones 746 days delay, mischaracterisation of expenditure, rectified post professional advice ‘sufficient cause’ to condone
Sep 21, 2024
- In Favour of : Assessee
- Citation Number : TS-698-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Affirms Sec.80IA deduction claimed by government contractor through revised return
Sep 21, 2024
- In Favour of : Assessee
- Citation Number : TS-687-ITAT-2024(LKW)
Income tax Appellate Tribunal
ITAT: Non-adjudication of issues on merits falling foul of Section 250(6), CIT(A) to pass speaking order
Sep 21, 2024
- In Favour of : Assessee
- Citation Number : TS-694-ITAT-2024(Bang)
Income tax Appellate Tribunal
ITAT: Appeal filed by ex-director of struck-off company, not maintainable sans ‘locus standi’
Sep 14, 2024
- In Favour of : Revenue
- Citation Number : TS-682-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Non consideration of Jurisdictional Court ruling, 'mistake apparent from record'; Rectifiable u/s154
Sep 14, 2024
- In Favour of : Revenue
- Citation Number : TS-683-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: US Broadcasting company's TV Channel distribution revenue, not 'royalty', business income as per MAP
Sep 14, 2024
- In Favour of : Assessee
- Citation Number : TS-670-ITAT-2024(DEL)
Income tax Appellate Tribunal
ITAT: Rules on issues of disallowance of provision of bad & doubtful debts, prepaid finance charges etc.
Sep 14, 2024
- In Favour of : Both, Partially
- Citation Number : TS-669-ITAT-2024(CHNY)
Income tax Appellate Tribunal
ITAT: Quashes revision on prior period depreciation due to re-classification of assets sans pecuniary loss to Revenue
Sep 14, 2024
- In Favour of : Assessee
- Citation Number : TS-681-ITAT-2024(Ahd)