Direct tax Weekly Digest

Weekly Digest #34 21 Aug to 27 Aug 2021 9 Rulings

High Court HC: Directs refund of amount adjusted in excess of 20% of demand sans specific order u/s 245

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-793-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Form 3CL furnishable with ITR w.e.f. Apr'16; Allows weighted deduction despite CAG report

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-794-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition u/s 56(2)(vii)(b) on land purchase transaction failed due to erroneous records

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-803-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Advertising contracts in writing not prerequisite for TDS u/s 194C

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-799-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Charitable activities includes proposed activities for registration u/s 12AA; Follows SC ruling in Ananda Social

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-804-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Upholds revision u/s 263, assessment finalised without considering DVO's report

Aug 27, 2021

In Favour of : Revenue
Citation Number : TS-801-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Commission to technically skilled liaison representatives, aiding business in remote areas,allowable expenditure

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-800-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Unverified but corroborated savings incurred on land acquisition allowable for computing capital gains

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-798-ITAT-2021(JPR)

Income tax Appellate Tribunal ITAT: Upholds allowability of pre-operative expenditure for business expansion project

Aug 27, 2021

In Favour of : Assessee
Citation Number : TS-802-ITAT-2021(CHANDI)

Weekly Digest #33 14 Aug to 20 Aug 2021 9 Rulings

High Court HC: Directs refund for subsequent years based on a favourable CIT(A) order

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-767-HC-2021(BOM)

High Court HC: Sets aside faceless assessment order passed after 3 days from issuance of SCN

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-777-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Compensation paid for unencumbered possession allowable for computing capital gains

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-780-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Entitlement to interest on refund extends to period prior to claiming non-taxability of corresponding income

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-778-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: Interest on withdrawals/delayed payments, not taxable income for Recognised PFs

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-768-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: 2021 amendments on due date for depositing ESI, PF apply prospectively

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-775-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Common substantial shareholding of lender and borrower companies no ground for applicability of Sec.2(22)(e)

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-782-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Admits additional evidence not furnished earlier due to counsel's advice

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-779-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Grants stay on 20% payment of demand; No specific case made out for financial hardship

Aug 20, 2021

In Favour of : Assessee
Citation Number : TS-781-ITAT-2021(Bang)

Weekly Digest #32 07 Aug to 13 Aug 2021 9 Rulings

High Court HC: Remands dispute on lower deduction u/s194-O for Cloudtail India over write-off of slow, ageing inventory

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-760-HC-2021(DEL)

High Court HC: Adjustment of dues, debts not covered u/s 41(1); SC ruling in Mahindra&Mahindra inapplicable

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-648-HC-2021(KAR)

Income tax Appellate Tribunal ITAT: Conversation rate on date of receipt of USD-denominated sum to prevail for determining TDS liability

Aug 13, 2021

In Favour of : Revenue
Citation Number : TS-761-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: ‘Purpose Test’ determinative of nature and treatment of subsidy

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-641-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Write back of expenses allowable as part of income eligible for deduction u/s 10AA

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-639-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Exemption of SEZ unit not deniable on comparison with uncomparable unit

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-650-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Holds assessment sans cross-examination of statements relied upon as unsustainable

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-652-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: AIR information insufficient to establish ‘reasons to believe’, quashes reassessment

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-644-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Brokerage not deferrable over maturity period of MF schemes, allowable when incurred

Aug 13, 2021

In Favour of : Assessee
Citation Number : TS-637-ITAT-2021(Mum)

Weekly Digest #31 31 Jul to 06 Aug 2021 9 Rulings

High Court HC: Sets aside faceless assessment order; Non-granting of hearing, blatant violation of natural justice

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-617-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Plant & Machinery in Pathological Labs' Collection Centres eligible for additional depreciation

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-623-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Tolerance band provided u/s 56(2)(vii)(b) analogous to Sec.50C, applicable retrospectively

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-624-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Amendment to Sec.43B by Finance Act 2021 to apply prospectively

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-618-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Finds CIT(A)’s ex-parte order perfunctory; Remits matter for fresh adjudication

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-603-ITAT-2021(JAB)

Income tax Appellate Tribunal ITAT: Interest on borrowing adjustable against income from investment of borrowed funds

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-630-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Transfer of agricultural land held as investment, sold as non-agricultural land, taxable as capital-gains

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-632-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Ground Rent paid to L&DO on lease hold properties not covered u/s 43B

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-633-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Co-op Society's income from investment of surplus amount deductible u/s 80P

Aug 06, 2021

In Favour of : Assessee
Citation Number : TS-629-ITAT-2021(Kol)

Weekly Digest #30 24 Jul to 30 Jul 2021 7 Rulings

High Court HC: Directs personal hearing due to technical glitches on e-filing portal

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-597-HC-2021(DEL)

High Court HC: Assessments by NaFAC to follow prescribed procedure u/s 144B

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-589-HC-2021(DEL)

High Court HC: Dismisses writ against appointment of VP, ITAT since covered by SC's interim orders in Tribunal Rules case

Jul 30, 2021

In Favour of : None/NA
Citation Number : TS-598-HC-2021(MAD)

High Court HC: Receipts for Clean Development Mechanism capital in nature, not taxable

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-604-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Allows set-off of loss against income surrendered during Survey

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-601-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Holds repayment of loan establishes existence of liability, negates taxability u/s 41(1)

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-602-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Grants stay to HCL on tax demand basis MAP proceedings, GE Packaged Ruling

Jul 30, 2021

In Favour of : Assessee
Citation Number : TS-596-ITAT-2021(DEL)

Weekly Digest #29 17 Jul to 23 Jul 2021 8 Rulings

High Court HC: Sets aside assessment order passed without issuing SCN in pre-amendment faceless regime

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-585-HC-2021(DEL)

High Court HC: Assessment orders passed under old regime, post April 1, bad in law

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-579-HC-2021(DEL)

High Court HC: Remits faceless assessment order, grants opportunity of being heard

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-580-HC-2021(DEL)

High Court HC: Remands assessment order passed by rejecting submission made without cover-letter

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-573-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Advance forfeited against property, recognized as outstanding liability, not taxable u/s 41(1)

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-564-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Indexation allowable upto taxable event, not restricted to date of signing JDA

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-568-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Holds Sec.144C prospective from AY 2011-12, declares assessment order void ab initio

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-575-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Scope of scrutiny cannot be enlarged u/s 263, quashes revisionary order

Jul 23, 2021

In Favour of : Assessee
Citation Number : TS-578-ITAT-2021(Kol)

Weekly Digest #28 10 Jul to 16 Jul 2021 10 Rulings

High Court HC: Sets aside cryptic order rejecting application u/s 197, directs de novo hearing

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-543-HC-2021(DEL)

High Court HC: Directs Revenue to decide on interest payable on seized money u/s 132B(4)

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-541-HC-2021(DEL)

High Court HC: Assessment u/s 153A not de novo assessment, Assessee not entitled to fresh claims

Jul 16, 2021

In Favour of : Revenue
Citation Number : TS-547-HC-2021(KAR)

High Court HC: Sets aside reassessment in deceased's name as null, void; Follows Savita Kapila

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-558-HC-2021(DEL)

High Court HC: Sets aside assessment order passed pursuant to draft order u/s 144C for non-adherence of procedure u/s 144B

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-561-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: DGIT(Inv.) inputs not ‘external source’; Exception to low tax-effect Circular inapplicable

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-551-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Third-party statements, general findings of investigation inadequate for concluding stock-price manipulation; Deletes addition u/s 68

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-532-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Letter of allotment relevant over date of possession for construing holding period

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-555-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Remits Assessee's appeal before CIT(A) with direction for condonation of delay application, affidavit

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-554-ITAT-2021(VIZ)

Income tax Appellate Tribunal ITAT: BBC World withdraws appeal on arriving at resolution under MAP

Jul 16, 2021

In Favour of : Assessee
Citation Number : TS-549-ITAT-2021(DEL)

Weekly Digest #27 03 Jul to 09 Jul 2021 10 Rulings

High Court HC: Non-recording of reasons by AO not indicative of non-application of mind

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-513-HC-2021(DEL)

High Court HC: Allows writ challenging reassessment of Mauritius-based entities; Holds 'change of opinion'

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-523-HC-2021(DEL)

High Court HC: Post Mar 31, assessment order mandatory u/s 144B

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-530-HC-2021(DEL)

High Court HC: Quashes revision u/s 263, allows depreciation on assets under finance lease

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-515-HC-2021(KAR)

High Court HC: Sec. 159(2) does not contemplate abatement of assessment order passed on deceased Assessee

Jul 09, 2021

In Favour of : Revenue
Citation Number : TS-518-HC-2021(KAR)

Income tax Appellate Tribunal ITAT: Grants LG stay, early hearing subject to deposit of Rs.6 Cr.

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-528-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Extends stay on demand, more than 20% discharged, delay not attributable to Assessee

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-526-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Alteration of book profit for MAT beyond AO's powers; Follows Apollo Tyres

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-531-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allows reassessment based on audit objection involving disallowance of cash expenditure

Jul 09, 2021

In Favour of : Revenue
Citation Number : TS-525-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Holds interest-free loans justifiable, owned-funds considerably exceeded amount advanced

Jul 09, 2021

In Favour of : Assessee
Citation Number : TS-516-ITAT-2021(Bang)

Weekly Digest #26 26 Jun to 02 Jul 2021 9 Rulings

High Court HC: Condonation of delay in appeal-filing by CIT(A) makes Assessee eligible under VsV Act

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-491-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Rules on profit attribution, software payments; Follows Assessee's own case, Engineering Analysis

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-502-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Sale of software/ license not ‘royalty’; Business profits sans PE, not taxable

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-485-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Business loss/depreciation to be set-off entirely for computing book profit u/s 115JB(2)

Jul 02, 2021

In Favour of : Revenue
Citation Number : TS-501-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Remits appeal on allowability of interest expense against income u/s 57, allowed without scrutiny in earlier years

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-494-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: Restores issue of disallowance of GST on rental income to CIT(A) for examination u/s 23

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-486-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: Deletes additions u/s 69B made solely on basis of DVO’s report

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-492-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: ‘Right to toll’ eligible for depreciation @ 25%, Interest payment under funded loan agreement not disallowable u/s 43B

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-496-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Allows Assessee’s appeal against Revenue’s summary rejection of 154 application

Jul 02, 2021

In Favour of : Assessee
Citation Number : TS-495-ITAT-2021(Ahd)

Weekly Digest #25 19 Jun to 25 Jun 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Formal deed not required for registration u/s 12AA, objects of trust to be considered

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-469-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: ‘Ownership’ of warehouses irrelevant for deduction u/s 80-IB(11A), nature of business determinative

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-481-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Assessee entitled to LTC exemption exclusive of foreign travel expenses u/s 10(5)

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-482-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Allows Assessee to opt for VSV Scheme; Follows Madras HC ruling in Nannusamy Mohan

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-478-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: TDS obligation u/s 194A stands discharged on furnishing of Form 15G, disallowance u/s 40(a)(ia) invalid

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-476-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Quashes revisionary proceedings u/s 263 in absence of findings of Pr.CIT

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-472-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Denies exemption u/s 54 for non-utilisation of sum deposited in special account

Jun 25, 2021

In Favour of : Revenue
Citation Number : TS-468-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Unsold flats held as stock-in-trade taxable under 'Income from House Property'

Jun 25, 2021

In Favour of : Revenue
Citation Number : TS-470-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: CIT(A) not empowered to dismiss Assessee’s appeal for non-prosecution

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-464-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition u/s 68 on unsecured borrowing, Assessee proves identity, creditworthiness & genuineness of lenders

Jun 25, 2021

In Favour of : Assessee
Citation Number : TS-477-ITAT-2021(Mum)

Weekly Digest #24 12 Jun to 18 Jun 2021 10 Rulings

Income tax Appellate Tribunal ITAT: No concrete evidences, no additions u/s 145(3); Condones 275 days delay due to Director’s ill-health

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-445-ITAT-2021(DDN)

Income tax Appellate Tribunal ITAT: Accumulated savings acceptable reason u/s 69A for cash deposit upto Rs.2.5 Lacs by housewife on demonetization

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-460-ITAT-2021(AGR)

Income tax Appellate Tribunal ITAT: No TDS liability u/s 195 on incomes not taxable in India; Deletes disallowances u/s 40(a)(i)

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-459-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: MAT credit u/s 115JAA(2A) inclusive of surcharge and cess

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-448-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Expenditure on parking space part of project-cost allowable u/s 37

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-449-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Reference to DVO good where Assessee's valuation is less than FMV; Sec. 55A(a) amendment prospective

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-452-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Revision on taxability of on-money not tenable, assessment order passed judiciously

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-451-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Sec. 115BBE not applicable on voluntary surrender of income to cover discrepancy

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-456-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: Bonafide delay in filing ITR by Educational Trust condonable, not liable to penalty

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-453-ITAT-2021(JPR)

Income tax Appellate Tribunal ITAT: No withholding u/s 195 on cost reimbursed to NRs; Follows AP Moller

Jun 18, 2021

In Favour of : Assessee
Citation Number : TS-457-ITAT-2021(Mum)

Weekly Digest #23 05 Jun to 11 Jun 2021 8 Rulings

Income tax Appellate Tribunal ITAT: Quashes Taj Group's assessment, procedure for transfer of cases not followed

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-439-ITAT-2021(Mum)

High Court HC: Allows adjustment of outstanding demand against refunds for Genpact India

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-437-HC-2021(DEL)

High Court HC: ITAT's remand order invalid where lower authorities pass well-reasoned order

Jun 03, 2021

In Favour of : Assessee
Citation Number : TS-417-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Grants registration to District Bar Association u/s 12AA, activities covered u/s 2(15)

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-431-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: Sets aside CIT(A)’s order arbitrarily restricting interest rate at 12%; Allows expenditure u/s 36(1)(iii)

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-420-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: 54EC exemption limit available AY-wise not transaction-wise, 2014 amendment prospective

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-429-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Upholds property cohabited by Assessee as “let out”, allows deductions u/s 24

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-428-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Directions of PCIT u/s 263 beyond scope of scrutiny invalid

Jun 11, 2021

In Favour of : Assessee
Citation Number : TS-435-ITAT-2021(DEL)

Weekly Digest #22 29 May to 04 Jun 2021 10 Rulings

High Court HC: Quashes faceless assessment order passed before prescribed date; Remarks “pre-set mind” behind haste

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-399-HC-2021(MAD)

High Court HC: Proper books of account not maintained, full and true disclosure not possible; Quashes ITSC order

Jun 04, 2021

In Favour of : Revenue
Citation Number : TS-390-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Allows ROC expenses incurred for increase of share capital u/s 35D

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-409-ITAT-2021(HYD)

High Court HC: Sets aside faceless assessment order passed in violation of Sec.144B; Grants liberty for fresh assessment

May 31, 2021

In Favour of : Assessee
Citation Number : TS-402-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Surrounding circumstances should support idle cash-in-hand; Confirms addition u/s 69A

Jun 04, 2021

In Favour of : Revenue
Citation Number : TS-406-ITAT-2021(Ind)

Income tax Appellate Tribunal ITAT: Completion certificate irrelevant for exemption u/s 54F; Quashes revision based on doubt

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-407-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Deletes penalty as assessee voluntarily offered income; Finds error bona fide

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-408-ITAT-2021(DDN)

Income tax Appellate Tribunal ITAT: Allows reasonable opportunity for Assessee lacking benefit of legal advice

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-414-ITAT-2021(CHANDI)

Income tax Appellate Tribunal ITAT: No penalty u/s 271(1)(c) on denial of exemption on income duly disclosed

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-405-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Higher overseas education expenses for management trainee, business expenditure

Jun 04, 2021

In Favour of : Assessee
Citation Number : TS-404-ITAT-2021(Kol)

Weekly Digest #21 22 May to 28 May 2021 9 Rulings

Income tax Appellate Tribunal ITAT: ‘Right to collect toll’, an intangible asset eligible for depreciation @ 25%

May 24, 2021

In Favour of : Assessee
Citation Number : TS-381-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition on 'hypothetical' unrealizable interest income reflected in 26AS

May 28, 2021

In Favour of : Assessee
Citation Number : TS-396-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Holds shares issued at premium forming part of shareholders funds, capital; Not taxable as revenue receipt

May 28, 2021

In Favour of : Assessee
Citation Number : TS-394-ITAT-2021(Mum)

High Court HC: Quashes notice u/s 148 issued beyond four years merely on change of opinion on deduction u/s 80IA

May 28, 2021

In Favour of : Assessee
Citation Number : TS-393-HC-2021(GUJ)

High Court HC: Quashes assessment order on legal heir as notice u/s 148 issued on deceased Assessee despite intimation of demise

May 28, 2021

In Favour of : Assessee
Citation Number : TS-386-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Quashes order u/s 263 treating forex loss as speculative loss for ‘lack of inquiry’

May 28, 2021

In Favour of : Assessee
Citation Number : TS-368-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Deletes penalty for "undisclosed" receipts offered to tax in subsequent year

May 28, 2021

In Favour of : Assessee
Citation Number : TS-385-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Distributes sale consideration amongst all partners, cost borne by 2 partners

May 28, 2021

In Favour of : Assessee
Citation Number : TS-397-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: No TDS u/s 195 on brokerage and commission paid to overseas agents rendering services outside India

May 28, 2021

In Favour of : Assessee
Citation Number : TS-379-ITAT-2021(SUR)

Weekly Digest #20 15 May to 21 May 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Non-Compete fees paid by HUL to Lakme for ‘profitability & growth’, allowable expenditure

May 21, 2021

In Favour of : Assessee
Citation Number : TS-365-ITAT-2021(Mum)

High Court HC: Directs disposal of appeals uploaded on portal within a year in wake of faceless scheme

May 21, 2021

In Favour of : Assessee
Citation Number : TS-371-HC-2021(UTT)

Income tax Appellate Tribunal ITAT: Upholds addition in Karta's assessment on interest earned from HUF's money

May 21, 2021

In Favour of : Revenue
Citation Number : TS-375-ITAT-2021(DEL)

High Court HC: Quashes notice u/s 148 in the absence of proof of actual dispatch coupled with actual delivery of notice

May 21, 2021

In Favour of : Assessee
Citation Number : TS-373-HC-2021(MAD)

High Court HC: Directs valuation by DVO for highly valued property, against AVO's valuation

May 21, 2021

In Favour of : Assessee
Citation Number : TS-369-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Assessee not liable for non-response to notice u/s 133(6) notice by lenders; Deletes addition u/s 68

May 21, 2021

In Favour of : Assessee
Citation Number : TS-377-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Two adjacent plots cannot be compared for FMV determination u/s 50C without verification

May 21, 2021

In Favour of : Assessee
Citation Number : TS-370-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Clarifies that amended Sec. 2(14)(iii)(b) is prospective for classifying agricultural land

May 21, 2021

In Favour of : Assessee
Citation Number : TS-374-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Allows depreciation @ 80% on windmills installed pre-April 2012, purchase date immaterial

May 21, 2021

In Favour of : Assessee
Citation Number : TS-359-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Sets aside Revenue's order rejecting rectification u/s 154 passed without granting opportunity of being heard

May 21, 2021

In Favour of : Assessee
Citation Number : TS-362-ITAT-2021(CHANDI)

Weekly Digest #19 08 May to 14 May 2021 10 Rulings

High Court HC: Failure to retrieve appeal records by Revenue, no ground for rejection of VsV application

May 14, 2021

In Favour of : Assessee
Citation Number : TS-350-HC-2021(DEL)

High Court HC: Stays demand of 17.71 Cr. from faceless assessment made without hearing the Assessee

May 14, 2021

In Favour of : Assessee
Citation Number : TS-356-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Income from transfer of redeveloped property, taxable as business income; Rejects Sec.43CB invocation pre-2017

May 14, 2021

In Favour of : Assessee
Citation Number : TS-358-ITAT-2021(Mum)

High Court HC: Stays assessment based on 132(4) statement partly provided to Assessee

May 14, 2021

In Favour of : None/NA
Citation Number : TS-354-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Non-consideration of non-jurisdictional decisions does not render order 'erroneous'; Dismisses MA

May 14, 2021

In Favour of : Revenue
Citation Number : TS-353-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Bharati Axa's reassessment invalid for furnishing incomplete reasons, improper sanction u/s 151

May 14, 2021

In Favour of : Assessee
Citation Number : TS-355-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Grants set-off of speculative losses on money market, STCL on bond transactions with Harshad Mehta

May 14, 2021

In Favour of : Assessee
Citation Number : TS-334-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Allows exemption u/s 10(34) to Bajaj's trusts not availing Sec. 11 benefit for AY 2014-15

May 14, 2021

In Favour of : Assessee
Citation Number : TS-348-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Upholds revisionary order u/s 263, finds omission by AO to consider stamp value of property sold

May 14, 2021

In Favour of : Revenue
Citation Number : TS-340-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Quashes revisionary proceedings, holds assessment order not erroneous as sufficient enquiry was conducted

May 14, 2021

In Favour of : Assessee
Citation Number : TS-351-ITAT-2021(Mum)

Weekly Digest #18 01 May to 07 May 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Deletes penalty u/s 271C for Wipro GE for failure to deduct tax on year-end provisions

May 07, 2021

In Favour of : Assessee
Citation Number : TS-329-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Deloitte's interest-free advances to group concerns for commercial expediency, deletes proportionate interest disallowance

May 07, 2021

In Favour of : Assessee
Citation Number : TS-335-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Extends stay on Vodafone Idea's outstanding demand; Cites recent SC ruling in Pepsi Foods

May 05, 2021

In Favour of : Assessee
Citation Number : TS-328-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Allows deduction of payment to doctors in lieu of rent-free premises u/s 37

May 07, 2021

In Favour of : Assessee
Citation Number : TS-337-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Holds activity of growing and exporting mangos as ‘agricultural activity’; Grants exemption u/s 10

May 05, 2021

In Favour of : Assessee
Citation Number : TS-327-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Directs Revenue to consider value determined by DVO u/s 50C against 'higher' guideline value

May 07, 2021

In Favour of : Revenue
Citation Number : TS-336-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Rentals from letting out factory building, taxable as house property income

May 05, 2021

In Favour of : Assessee
Citation Number : TS-330-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Grants Sec.54B deduction despite non-registration of new agricultural land; Rejects invocation of Sec.50C

May 07, 2021

In Favour of : Assessee
Citation Number : TS-326-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: Carve-out in CBDT Circular on monetary limits inapplicable on inputs from Sales Tax Department

May 07, 2021

In Favour of : Assessee
Citation Number : TS-331-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: New unit set up to expand, benefit from new tax regime not splitting-up/reconstruction u/s 80IC

May 07, 2021

In Favour of : Assessee
Citation Number : TS-332-ITAT-2021(CHNY)

Weekly Digest #17 24 Apr to 30 Apr 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Interest on delayed TDS remittance, not 'expenditure' incurred wholly & exclusively for business purposes; Denies deduction u/s 37(1)

Apr 30, 2021

In Favour of : Revenue
Citation Number : TS-296-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Grants telescopic benefit against income offered during search; Deletes addition u/s 69 on unaccounted land purchase

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-315-ITAT-2021(Ind)

Income tax Appellate Tribunal ITAT: Holds penalty u/s 271AAA levied on ad-hoc addition in assessment order, unsustainable

Apr 29, 2021

In Favour of : Assessee
Citation Number : TS-311-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Financial Consultant's share sale transaction taxable as capital gains, not business income

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-299-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Interest on enhanced compensation, a non-taxable capital receipt; Deletes addition u/s 56(2)(viii)

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-298-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Holds prior period expenses allowable if no change in maximum marginal rate of taxation

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-313-ITAT-2021(JPR)

Income tax Appellate Tribunal ITAT: Deletes addition on unaccounted FD made on society on account of factual error; Grants exemption u/s 11

Apr 29, 2021

In Favour of : Assessee
Citation Number : TS-314-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Holds proceedings u/s 263 cannot go beyond the reasons for limited scrutiny

Apr 29, 2021

In Favour of : Assessee
Citation Number : TS-310-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Holds that profit from business not confined to operation of ships for deduction u/s 33AC

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-308-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Application of income outside India not valid criteria to reject application u/s 12AA

Apr 30, 2021

In Favour of : Assessee
Citation Number : TS-306-ITAT-2021(CHANDI)

Weekly Digest #16 17 Apr to 23 Apr 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Allows carry forward/ set-off of MAT credit of amalgamating co. to Tata Communications

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-292-ITAT-2021(Mum)

High Court HC: Upholds reassessment initiated based investigation wing report alleging bogus transaction with Hawala dealer

Apr 23, 2021

In Favour of : Revenue
Citation Number : TS-293-HC-2021(GUJ)

High Court HC: Allowability of forex loss no longer res integra post Woodward Governor decision; Dismisses Revenue's appeal

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-274-HC-2021(DEL)

High Court HC: Fresh expense claim pursuant to change in accounting policy, not concealment; Deletes penalty u/s 271(1)(c)

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-287-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Sitting Fees part and parcel of Directors's remuneration; Upholds disallowance for non-deduction of tax u/s 194J

Apr 23, 2021

In Favour of : Revenue
Citation Number : TS-277-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Restricts disallowance of closing stock of WIP due to change in method of accounting, to extent of deduction u/s 80IB(10)

Apr 23, 2021

In Favour of : Both, Partially
Citation Number : TS-291-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Holds income from letting out of studio to artists for recording by trust with object of education, not business income

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-290-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Sales tax assistance in the form of incentive to encourage industrial expansion from State Government, capital receipt

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-282-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Holds reassessment unsustainable de hors proper service of notice to assessee

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-280-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Earning surplus does not impinge the character of soceity; Grants approval u/s 10(23C)(vi)

Apr 23, 2021

In Favour of : Assessee
Citation Number : TS-281-ITAT-2021(CHANDI)

Weekly Digest #15 10 Apr to 16 Apr 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Substantial interest in lender company, a prerequisite for invoking Sec.2(22)(e)

Apr 15, 2021

In Favour of : Assessee
Citation Number : TS-267-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Holds 4th year of operation as ‘initial AY’ for deduction u/s 80IA; Follows CBDT Circular

Apr 16, 2021

In Favour of : Both, Partially
Citation Number : TS-195-ITAT-2021(DEL)

High Court HC: Assessment order passed on non-existing entity void-ab-initio and unsustainable in law

Apr 15, 2021

In Favour of : Assessee
Citation Number : TS-269-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Failure to furnish registration certificate, no ground for rejecting exemption claim; Grants Sec.11 benefit to trust

Apr 16, 2021

In Favour of : Assessee
Citation Number : TS-273-ITAT-2021(JAB)

Income tax Appellate Tribunal ITAT: Holds that interest paid to related parties at different rates, no ground for disallowance u/s 40A(2)

Apr 16, 2021

In Favour of : Assessee
Citation Number : TS-272-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Rejects Revenue's 'realignment' of capital gains from sale of plots as business income

Apr 15, 2021

In Favour of : Assessee
Citation Number : TS-268-ITAT-2021(Rjt)

Income tax Appellate Tribunal ITAT: CIT(A) not entitled to enhance income on issues outside the scope of assessment order

Apr 16, 2021

In Favour of : Assessee
Citation Number : TS-262-ITAT-2021(JPR)

Income tax Appellate Tribunal ITAT: Order giving effect to ITAT-order going beyond direction of TDS-verification, 'mistake apparent from record' rectifiable u/s 154

Apr 16, 2021

In Favour of : Assessee
Citation Number : TS-261-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Levy of penalty u/s 271AAB not mandatory in every case of search, requires ‘undisclosed income’

Apr 16, 2021

In Favour of : Assessee
Citation Number : TS-263-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Invalid search warrant does not nullify block assessment u/s 158BD on 'other person'

Apr 07, 2021

In Favour of : Revenue
Citation Number : TS-244-ITAT-2021(ALLD)