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Search Results for "ITAT order"

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High Court

Bombay High Court Allows Appeal of Assessee in Income Tax Refund Interest Case — Refund Arising from Appellate Order Reducing Income Below Returned Income Qualifies for Interest Under Section 244A(1)(a) Irrespective of 10% Threshold. The court held that the ITAT erred in applying Section 244A(1)(b) to a refund resulting from an order giving effect to the CIT(A)'s order, and directed computation of interest from the date of payment of excess tax.

9 Feb 2024

The appellant, Ceat Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal (ITA...

High Court

Bombay High Court Allows Assessee's Appeals in Transfer Pricing Adjustment Case Due to Department's Acceptance of Same Methodology in Earlier Years and Tribunal's Failure to Follow Co-ordinate Bench Precedent. The court set aside the ITAT order and remanded for fresh consideration, emphasizing the rule of consistency and binding nature of co-ordinate bench decisions under Section 260A of the Income Tax Act, 1961.

28 Jul 2023

The appellant, Cummins India Limited, filed three appeals under Section 260A of the Income Tax Act, 1961, against the order dated 28th September 2022 ...

High Court

Bombay High Court Allows Writ Petition for Interest on Refund Under Section 244A of Income Tax Act, 1961 — Petitioner Entitled to Interest from Date of Payment of Tax to Date of Refund. The court held that interest on refund is payable under Section 244A from the date of payment of tax to the date of refund when the refund arises due to an appellate order reducing the tax liability.

16 Jun 2023

The petitioner, M/s. J. K. Industries, a registered partnership firm engaged in ship breaking, filed its return of income for Assessment Year 1984-85 ...

Supreme Court

Supreme Court Allows Revenue's Appeal in Capital Gains Tax Case — Revaluation and Credit to Partners' Capital Accounts Constitutes Transfer Under Section 45(4) of Income Tax Act, 1961. The Court held that revaluation of assets and crediting the surplus to partners' capital accounts in a reconstituted firm amounts to distribution of capital assets, attracting capital gains tax under Section 45(4), and overruled the applicability of Hind Construction Ltd. to post-1988 amendments.

24 Nov 2022

The case involves appeals by the Revenue against the judgment of the Bombay High Court which dismissed the Revenue's appeals and confirmed the ITAT's ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case — ITAT's Direction to Delete Addition Upheld. Court holds that when purchases are not disputed as genuine but only as from non-existent parties, only profit element embedded in such purchases can be added, not the entire purchase amount.

21 Oct 2022

The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate T...

High Court

Bombay High Court Dismisses Revenue's Appeal in Transfer Pricing and Inventory Valuation Case. Management fees paid to associated enterprise held allowable as services rendered and benefit derived; provision for obsolete inventory allowed following Rotork Controls.

8 Sep 2022

The appeal was filed by the Pr. Commissioner of Income Tax, Pune under Section 260A of the Income Tax Act, 1961 against the order dated 14th June, 201...

High Court

High Court of Karnataka Dismisses Revenue's Appeals in Vodafone TDS Case — No Disallowance Under Section 40(a)(ia) for Non-Deduction of TDS on Payments to Non-Residents Without Permanent Establishment in India. The court held that where the non-resident has no permanent establishment in India, the income is not taxable in India, and consequently, no TDS is required under Section 195 of the Income Tax Act, 1961.

28 Jul 2016

The case involves appeals filed by the Revenue (Commissioner of Income Tax and Deputy Commissioner of Income Tax) against the common order of the Inco...

High Court

Bombay High Court Upholds Reassessment Order and Penalty in Income Tax Reference — Limitation Period and Show-Cause Notice Validity Upheld. The court held that the reassessment order for assessment year 1959-60 was within limitation under Section 153(2)(a) of the Income Tax Act, 1961, and the penalty notice under Section 271(1)(c) was valid despite use of 'etc' and 'or'.

24 Nov 2015

The case is an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, arising from proceedings against M/s R. B. Shreeram Durgaprasad,...

High Court

Bombay High Court Dismisses Revenue's Appeal in Joint Venture Taxation Case — Income Taxable Only in Hands of Actual Executor. ITAT's concurrent finding that joint venture did not execute contract and income was already assessed in hands of constituent member upheld.

2 Mar 2015

The case involves an appeal by the Commissioner of Income Tax-I, Nagpur, against the order of the Income Tax Appellate Tribunal (ITAT), Nagpur, in res...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case on Section 80IB(10) Deduction for Mixed-Use Housing Projects. The court held that prior to 1/4/2005, deduction under Section 80IB(10) of the Income Tax Act, 1961 is admissible to housing projects with commercial units, and the limit on commercial area applies prospectively.

22 Feb 2011

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the eligibility ...

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