Direct tax Weekly Digest

Weekly Digest #6 12 Feb to 18 Feb 2023 6 Rulings

High Court HC: Non-adherence to Sec.144C procedure 'fatal defect', assessment order not sustainable

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-66-HC-2023(KER)

High Court HC: Grants refund as Revenue fails to conduct remand proceedings within Sec.153(3) limitation

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-68-HC-2023(BOM)

High Court HC: Sets aside reassessment proceedings over disparity in Sec.148A(d) order & SCN; Directs de novo adjudication

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-63-HC-2023(DEL)

High Court HC: TDS assessment for AY 2008-09, on payment to NR, after 7 years time-barred

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-62-HC-2023(KAR)

Income tax Appellate Tribunal ITAT: Trust's Audit Report delay for AY 2017-18 condonable by CBDT Circular, application not required

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-65-ITAT-2023(Bang)

Income tax Appellate Tribunal ITAT: Deletes Sec.68 addition as Assessee refunded share application money, discharged onus

Feb 18, 2023

In Favour of : Assessee
Citation Number : TS-1037-ITAT-2022(Mum)

Weekly Digest #5 05 Feb to 11 Feb 2023 5 Rulings

High Court HC: Denies writ on allowability of Sec.80P(2)(d) deduction over factual dispute of investee's status

Feb 11, 2023

In Favour of : Revenue
Citation Number : TS-48-HC-2023(MAD)

High Court HC: Directs 7% interest on Revenue's delay in payment of special audit fee

Feb 11, 2023

In Favour of : Assessee
Citation Number : TS-47-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Interest on delayed TDS remittance, not 'expenditure' under Sec.37(1)

Feb 11, 2023

In Favour of : Revenue
Citation Number : TS-39-ITAT-2023(Kol)

Income tax Appellate Tribunal ITAT: LLP, as partner in firm, eligible for Sec.10(2A) exemption

Feb 11, 2023

In Favour of : Assessee
Citation Number : TS-51-ITAT-2023(Bang)

Income tax Appellate Tribunal ITAT: Variation in tax rate not eligible for Sec.144C procedure; Quashes assessment as time-barred

Feb 11, 2023

In Favour of : Assessee
Citation Number : TS-49-ITAT-2023(Mum)

Weekly Digest #4 22 Jan to 28 Jan 2023 6 Rulings

High Court HC: Quashes reassessment for non-supply of material underlying ‘reasons to believe’

Jan 28, 2023

In Favour of : Assessee
Citation Number : TS-10-HC-2023(RAJ)

Income tax Appellate Tribunal ITAT: Restores L&T Mitsubishi JV's matter for examining loss, basis 300% cost escalation

Jan 28, 2023

In Favour of : Both, Partially
Citation Number : TS-14-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Follows Checkmate ruling to recall order but restores for examining allowability under Sec.37

Jan 28, 2023

In Favour of : Both, Partially
Citation Number : TS-19-ITAT-2023(CTK)

Income tax Appellate Tribunal ITAT: AMT applicable to Sec.80-IB(10) projects approved prior to introduction of Sec.115JC

Jan 28, 2023

In Favour of : Revenue
Citation Number : TS-21-ITAT-2023(PUN)

Income tax Appellate Tribunal ITAT: Rules on taxability of foreign donation for trust not registered under Sec.12A

Jan 28, 2023

In Favour of : Revenue
Citation Number : TS-20-ITAT-2023(PAT)

Income tax Appellate Tribunal ITAT: Change in residential status in post-search return vis-a-vis original return, acceptable

Jan 28, 2023

In Favour of : Assessee
Citation Number : TS-1036-ITAT-2022(Mum)

Weekly Digest #3 15 Jan to 21 Jan 2023 7 Rulings

High Court HC: Rules on allowability of CSR expenditure for SAIL; Sec. 37(1) amendment prospective

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-27-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Follows Maruti, distinguishes Mahagun, to quash Barclays' post-amalgamation assessment

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-29-ITAT-2023(PUN)

Income tax Appellate Tribunal ITAT: ITAT: ITAT: Penalty for TDS default initiated after 14 years, beyond reasonable limitation period

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-28-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Invokes MFN Clause to hold management support services not taxable as FTS under India-Belgium DTAA

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-1034-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.54F 'beneficial' provision, substantial compliance sufficient for eligibility

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-25-ITAT-2023(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: Management Support Services provided by Inter Continental Hotel not FTS

Jan 21, 2023

In Favour of : Assessee
Citation Number : TS-16-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Restricts Sec.54F benefit as sum not duly deposited in capital gains account scheme

Jan 21, 2023

In Favour of : Revenue
Citation Number : TS-24-ITAT-2023(CHNY)

Weekly Digest #2 08 Jan to 14 Jan 2023 5 Rulings

High Court HC: Sets aside reassessment proceedings, absent independent enquiry on GST authorities' report

Jan 14, 2023

In Favour of : Assessee
Citation Number : TS-1020-HC-2022(DEL)

High Court HC: Quashes reassessment proceedings against Vedanta due to Revenue's non-application of mind

Jan 14, 2023

In Favour of : Assessee
Citation Number : TS-1023-HC-2022(DEL)

High Court HC: Allows VsV benefit due to substantial compliance; Delay not attributable to Assessee

Jan 14, 2023

In Favour of : Assessee
Citation Number : TS-1021-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Sets aside revision in Cavinkare's case over eligibility for Sec.35(2AB) deduction

Jan 14, 2023

In Favour of : Assessee
Citation Number : TS-1027-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: License Fee taxable as per revenue recognition policy, over agreement tenure

Jan 14, 2023

In Favour of : Assessee
Citation Number : TS-1024-ITAT-2022(Mum)

Weekly Digest #1 01 Jan to 07 Jan 2023 7 Rulings

High Court HC: Sets aside reassessment proceedings, directs Revenue to furnish underlying information

Jan 07, 2023

In Favour of : Assessee
Citation Number : TS-1007-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: ITAT: CNN's distribution revenue taxable as business income, not royalty; Follows MAP outcome

Jan 07, 2023

In Favour of : Assessee
Citation Number : TS-1013-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: IT & Admin. Services not taxable as FTS as 'make available' clause not satisfied

Jan 07, 2023

In Favour of : Assessee
Citation Number : TS-1009-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Disallowance of delayed PF deposit not debatable; SC Checkmate ruling applies retrospectively

Jan 07, 2023

In Favour of : Revenue
Citation Number : TS-1005-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Revenue cannot change valuation method for Sec.56(2)(viib) over variation in projected & actual figures

Jan 07, 2023

In Favour of : Assessee
Citation Number : TS-1017-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Repairs incurred to maintain ship unloaders revenue in nature; TDS not applicable on reimbursement

Jan 07, 2023

In Favour of : Assessee
Citation Number : TS-977-ITAT-2022(Kol)

Income tax Appellate Tribunal ITAT: Partner's remuneration as salary, bonus or commission not amenable to Sec.192 TDS

Jan 07, 2023

In Favour of : Both, Partially
Citation Number : TS-03-ITAT-2023(GAU)

Weekly Digest #52 25 Dec to 31 Dec 2022 5 Rulings

High Court HC: Upholds ITAT order quashing revisionary order against Britannia Industries passed sans jurisdictional conditions

Dec 31, 2022

In Favour of : Assessee
Citation Number : TS-996-HC-2022(CAL)

Income tax Appellate Tribunal ITAT: Provision for anticipated loss, deductible expenditure since offered to tax in subsequent years

Dec 31, 2022

In Favour of : Assessee
Citation Number : TS-1000-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Sales tax subsidy received under State Government scheme, non-taxable capital receipt

Dec 31, 2022

In Favour of : Assessee
Citation Number : TS-999-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Recipient's disclosure in ITR sufficient for allowing expenditure to payer despite TDS default

Dec 31, 2022

In Favour of : Assessee
Citation Number : TS-980-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Section 40A(3) disallowance not attracted on cash payment made to agents, basis Rule 6DD(k)

Dec 31, 2022

In Favour of : Assessee
Citation Number : TS-940-ITAT-2022(Ahd)

Weekly Digest #51 18 Dec to 24 Dec 2022 9 Rulings

High Court HC: Natural justice violation sufficient to set aside assessment, despite appellate remedy; Directs re-adjudication

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-985-HC-2022(CAL)

High Court HC: Adjustment in Sec.143(1) intimation due to non-reflection of contingent liability, a rectifiable error

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-982-HC-2022(BOM)

High Court HC: Primary Co-op Society eligible for Sec.80P(2) deduction; Directs Revenue to examine Assessee's status

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-991-HC-2022(MAD)

High Court HC: Existence of information, not source, relevant for deciding validity of reassessment proceedings

Dec 24, 2022

In Favour of : Revenue
Citation Number : TS-978-HC-2022(CHAT)

Income tax Appellate Tribunal ITAT: ITAT: Seconded employees’ salary reimbursement to Toyoda by Indian AE, not FTS

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-993-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows Sec.80JJAA deduction as New Workmen satisfied '300 working days' criteria in succeeding year

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-989-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: ITAT: ITAT: Beneficial Ownership issue of Google AdWords payments academic, since not taxable as royalty

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-988-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: ITAT: Discards revision for higher profit-attribution from offshore supply, following Revenue's consistent approach

Dec 24, 2022

In Favour of : Assessee
Citation Number : TS-992-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Claim of housing loan interest by legal owner's son, cannot shift capital gain taxability

Dec 24, 2022

In Favour of : Revenue
Citation Number : TS-987-ITAT-2022(Mum)

Weekly Digest #50 11 Dec to 17 Dec 2022 8 Rulings

High Court HC: Basis of Sec.148A(d) order & allegations in SCN, different; Sets aside reassessment proceedings

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-959-HC-2022(DEL)

High Court HC: Remands assessment for 'strict compliance' of Sec.144B(1)(xvi) procedure

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-972-HC-2022(BOM)

High Court HC: Less than two days' time for responding to Sec.144B SCN, inadequate & illusory

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-954-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Allows Sec.35(2AB) deduction as delay in Form 3CL not attributable to Assessee

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-970-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Business income not taxable under Sec.69 merely because surrendered during Survey

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-969-ITAT-2022(RAI)

Income tax Appellate Tribunal ITAT: Quashes revision against Chhattisgarh Govt. Liquor Co. over allowability of VAT under Sec.40(a)(iib)

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-965-ITAT-2022(RAI)

Income tax Appellate Tribunal ITAT: Directs correction over demand raised due to TDS deposited under wrong challan

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-963-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sec.11 exemption allowable on donation made out of commercial concern's 'unsecured loan'

Dec 17, 2022

In Favour of : Assessee
Citation Number : TS-957-ITAT-2022(DEL)

Weekly Digest #49 04 Dec to 10 Dec 2022 7 Rulings

High Court HC: HC: Expenditure on abandoned software development in existing business, revenue in nature

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-941-HC-2022(BOM)

High Court HC: Sets aside post-search assessment due to arbitrary inter-state transfer of case

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-953-HC-2022(AP)

High Court HC: Loss on reinstatement of forward contracts, neither speculative nor notional; Allows deduction under Sec.37(1)

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-949-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Non-issuance of Sec.143(2) notice, 'foundational infirmity' & fatal to reassessment

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-948-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Sec.80G recognition allowable as Trust not 'substantially religious'

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-952-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Dismisses Jet Airways' appeals not verified & signed by Insolvency Resolution Professional

Dec 10, 2022

In Favour of : None/NA
Citation Number : TS-951-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Assessee not allowed adequate opportunity to substantiate post-demonetisation deposits; Deletes addition

Dec 10, 2022

In Favour of : Assessee
Citation Number : TS-947-ITAT-2022(RAI)

Weekly Digest #48 27 Nov to 03 Dec 2022 8 Rulings

Income tax Appellate Tribunal ITAT: AO's remand report essential for admitting additional evidence by CIT(A)

Dec 03, 2022

In Favour of : Revenue
Citation Number : TS-934-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Sec.80P deduction allowable to housing society on interest from co-op banks

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-931-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ICAI Guidance Note mandatory for F&O turnover calculation; Deletes Sec.271B penalty

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-932-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Absent PCIT/CIT's approval, scope of limited scrutiny cannot be enlarged

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-927-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Documentary evidence on job work in Assessee's favour; Contractor's physical presence not necessary

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-930-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Rejects Sec.80P claim on 'interest' income but allows Sec.57 deduction

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-925-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Nature of income from idle funds prior to business commencement, debatable; Deletes penalty

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-922-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Allows change of accounting due to uncertainty in settlement of buffer stock subsidy

Dec 03, 2022

In Favour of : Assessee
Citation Number : TS-911-ITAT-2022(CHNY)

Weekly Digest #47 20 Nov to 26 Nov 2022 7 Rulings

High Court HC: Sets aside Sec.148A(d) order for Boeing; Directs Revenue to address contentions, pass fresh order

Nov 26, 2022

In Favour of : Assessee
Citation Number : TS-900-HC-2022(DEL)

High Court HC: Dismisses writ against reassessment proceedings, endorses appellate remedy; Follows SC ruling in Chhabildas

Nov 26, 2022

In Favour of : Revenue
Citation Number : TS-909-HC-2022(DEL)

High Court HC: Reckons initiation of penalty proceedings from assessment order date; Holds time-barred

Nov 26, 2022

In Favour of : Assessee
Citation Number : TS-899-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Society registered as ‘Cooperative' under Karnataka Souharda Sahakari Act, eligible for Sec. 80P deduction

Nov 26, 2022

In Favour of : Assessee
Citation Number : TS-912-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Fraud vitiates everything; Denies Sec.10(38) exemption, holds share transaction void ab initio

Nov 26, 2022

In Favour of : Revenue
Citation Number : TS-906-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Quashes post-search assessment passed on non-existing entity; Follows Maruti, distinguishes Mahagun

Nov 26, 2022

In Favour of : Assessee
Citation Number : TS-907-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Professional receipts from Jet Airways & GMR sufficiently explained; Deletes Sec.68 addition

Nov 26, 2022

In Favour of : Assessee
Citation Number : TS-898-ITAT-2022(Mum)

Weekly Digest #46 13 Nov to 19 Nov 2022 7 Rulings

High Court HC: Holds Benami Act not applicable retrospectively; Quashes SCN for penal proceedings

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-885-HC-2022(DEL)

High Court HC: Rectification cannot amount to reassessment; Directs VsV application disposal, basis original computation

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-866-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Confirms 'on-money' addition, basis Director's statement & failure to appear for cross-examination

Nov 19, 2022

In Favour of : Revenue
Citation Number : TS-884-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Absent cogent material, LTCG not bogus despite drastic spike in share-price

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-886-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Allows expenses exclusion from 'Total Turnover' at par with 'Export Turnover' for Sec.10A deduction

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-891-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Directs DRP to decide treaty benefit on Independent Personal Services, basis additional evidence

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-893-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds revision of wrong tax-rate under Sec.115BBE after CIT(A) passed quantum order

Nov 19, 2022

In Favour of : Revenue
Citation Number : TS-892-ITAT-2022(CHANDI)

Weekly Digest #45 06 Nov to 12 Nov 2022 8 Rulings

High Court HC: HC: HC: Centralised services to Indian hotels including marketing & sales, not FTS; Follows Sheraton International ruling

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-875-HC-2022(DEL)

High Court HC: Quashes reassessment notice, basis change of opinion, over expenses for perfecting property-title

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-876-HC-2022(DEL)

High Court HC: Annuls fresh reassessment initiated during pendency of proceedings; Directs Revenue to consider objections

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-872-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Dutch Co.’s receipts from executive search services not FTS; Remands issue of management fees taxability

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-863-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Remits forex loss allowability on AE-loan to examine whether equity in nature

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-877-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: ITAT: Holds sales tax subsidies received by Ambuja Cements as capital in nature

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-874-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Breach of VsV condition leads to revival of appeal; Dismisses Revenue's maintainability plea

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-871-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Directs CIT(A) for speaking order on short & long term investment income for Sec.80P deduction

Nov 12, 2022

In Favour of : Both, Partially
Citation Number : TS-873-ITAT-2022(PAN)

Weekly Digest #44 30 Oct to 05 Nov 2022 10 Rulings

High Court HC: Quashes Sec.148 notices issued beyond 4 years due to Addl.CIT's approval

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-849-HC-2022(ORI)

Income tax Appellate Tribunal ITAT: Following SC's Checkmate Services ruling, disallows employees' PF/ESI contribution for depositing beyond statutory due-date

Nov 05, 2022

In Favour of : Revenue
Citation Number : TS-852-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Quashes revision against Tata AIA over taxability of Shareholders' A/c surplus as other business

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-860-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Accounting personnel's resignation, MD's health problem acceptable reason for deleting audit delay penalty

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-836-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Sec.80G approval dates back to AY pertaining to year of application, not order date

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-847-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Design Charges inherently connected with jewellery export, covered under Sec.10A

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-851-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Rejects Sec.11 exemption as imparting managerial training not incidental/ancillary to Main Objects

Nov 05, 2022

In Favour of : Revenue
Citation Number : TS-854-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.43CA inapplicable, absent element of transfer in cancellation deed involving agricultural land

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-855-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Holds revisionary order passed without DIN as invalid, violative of CBDT Circular

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-858-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Accepts rate charged by SEB as comparable, holds sale of power at arm's length

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-861-ITAT-2022(HYD)

Weekly Digest #43 23 Oct to 29 Oct 2022 4 Rulings

Income tax Appellate Tribunal ITAT: Brought forward losses not adjustable against 'exempt' capital gains; Follows Goldman Sachs ruling

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-832-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sec.10(23C)(vi)/11 claim, a debatable issue, not adjustable while processing ITR

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-829-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Havells' purchases of Rs.40 Lacs vis-a-vis Rs.1000 Cr. turnover, not bogus, absent cogent reasons

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-825-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.115BBC not at par with Sec.68, inapplicable where donors' identity disclosed

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-833-ITAT-2022(DEL)

Weekly Digest #42 16 Oct to 22 Oct 2022 7 Rulings

Income tax Appellate Tribunal ITAT: Barclays' IDR income exempt under India-Mauritius DTAA; Follows Morgan Stanley ruling

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-816-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Directs Revenue to examine Freebies' allowability, basis additional evidence, in Astra Zeneca's case

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-823-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Considering DVO Report mandatory, once matter referred for FMV computation under Sec.56(2)(vii)(b)

Oct 21, 2022

In Favour of : None/NA
Citation Number : TS-824-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Following Maruti Suzuki ruling, quashes post-amalgamation assessment of State Bank of Indore

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-820-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes Sec.271AAB penalty basis documents failing to establish connection with Assessee’s business

Oct 22, 2022

In Favour of : Both, Partially
Citation Number : TS-818-ITAT-2022(JPR)

Income tax Appellate Tribunal ITAT: Directs Revenue to accept cost of ESOP shares as per Sec.49(2AA), if TRC found in order

Oct 22, 2022

In Favour of : Both, Partially
Citation Number : TS-817-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Deletes addition under Sec.68 based on third party confirmation, not cross-examined by Assessee

Oct 15, 2022

In Favour of : Both, Partially
Citation Number : TS-801-ITAT-2022(DEL)

Weekly Digest #41 09 Oct to 15 Oct 2022 6 Rulings

High Court HC: Quashes reassessment proceedings as without jurisdiction for AY 2016-17, alleged escapement below Rs.50L

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-795-HC-2022(CAL)

High Court HC: Directs processing of VsV application, rejected under FAQ 71 of CBDT Circular

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-794-HC-2022(DEL)

High Court HC: Reassessment notice under new regime invalid where old notice not covered by Ashish Agarwal ruling

Oct 15, 2022

In Favour of : Revenue
Citation Number : TS-802-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Enduring benefit from marketing support antithetical to 'make available' clause; Holds services not taxable

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-796-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Elucidates on definition of ‘other educational institution’; Restores Sec.10(23C)(vi) exemption application for re-adjudication

Oct 15, 2022

In Favour of : None/NA
Citation Number : TS-789-ITAT-2022(ALLD)

Income tax Appellate Tribunal ITAT: Underreporting not misreporting as facts manifest no tax-evasion; Deletes penalty

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-803-ITAT-2022(JPR)

Weekly Digest #40 02 Oct to 08 Oct 2022 6 Rulings

High Court HC: Upholds requirement of submitting cryptocurrency ledger in reassessment proceedings while dismissing writ petition

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-778-HC-2022(RAJ)

High Court HC: Upholds SMC ruling on disallowance of interest on partner's capital, mandatory nature of depreciation

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-776-HC-2022(AP)

Income tax Appellate Tribunal ITAT: MFN Clause in Protocol integral to DTAA, effective even without specific notification

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-779-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Assessee entitled to Sec.80-IA deduction where Form 10CCB filed with revised return

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-770-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Sec.11 exemption deniable only to the extent of Sec.13 violation

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-775-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Repair & restoration of existing road by Contractor for Govt., ineligible for Sec.80-IA deduction

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-780-ITAT-2022(Rjt)

Weekly Digest #39 25 Sep to 01 Oct 2022 6 Rulings

High Court HC: Business loss eligible for set off till AY 2016-17 against income covered under Sec.115BBE

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-754-HC-2022(KER)

High Court HC: Permits assessee to raise objections before AO qua reassessment, modifies order in writ appeal

Oct 01, 2022

In Favour of : Both, Partially
Citation Number : TS-767-HC-2022(MAD)

Income tax Appellate Tribunal ITAT: Entering contract of extended warranty for Bentley Cars does not constitute DAPE

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-766-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition of deposits on demonetisation since explained from accounts & customer's statements

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-762-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sec.153A assessment not valid where Assessee not specifically subjected to search

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-758-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Cooperative Society's investment income from Cooperative Bank eligible for Sec.80P deduction

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-753-ITAT-2022(Mum)