Direct tax Weekly Digest

Weekly Digest #38 18 Sep to 24 Sep 2022 7 Rulings

High Court HC: Reassessment notice for AY 2013-14 not barred as original notice issued under extended period

Sep 24, 2022

In Favour of : Revenue
Citation Number : TS-738-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes Sec.234E interest by following jurisdictional HC; Rejects Revenue's plea based on SC ruling in Dilip Kumar & Co.

Sep 24, 2022

In Favour of : Assessee
Citation Number : TS-735-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Sets aside Sec.68 addition of Rs.182 Cr. with directions for inquiry over transactions involving Sahara Group

Sep 24, 2022

In Favour of : Assessee
Citation Number : TS-744-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Allows Sonakshi Sinha FTC despite delay in filing Form 67; Rejects Revenue's reliance on SC's Wipro ruling

Sep 24, 2022

In Favour of : Assessee
Citation Number : TS-742-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Indexation allowable from year of allotment despite payment made in instalments in later years

Sep 24, 2022

In Favour of : Assessee
Citation Number : TS-734-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Compensation for compulsory land-acquisition assessable in proportion of ownership

Sep 24, 2022

In Favour of : None/NA
Citation Number : TS-736-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Disallows foreign travel expenses incurred for parent's business & interest on loans diverted within group for non-business purpose

Sep 24, 2022

In Favour of : Both, Partially
Citation Number : TS-746-ITAT-2022(CHNY)

Weekly Digest #37 11 Sep to 17 Sep 2022 7 Rulings

Income tax Appellate Tribunal ITAT: 'Fees for Included Services' excludes services ancillary & essentially linked to equipment-purchase

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-724-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Sec.40(a)(i) disallowance, basis future retrospective amendment, not sustainable; Follows Engineering Analysis

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-709-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows DDT refund to Cadila Healthcare where rectification application preferred within 4 years of assessment order

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-722-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Assessee eligible for FTC despite filing Form 67 & ITR after due date

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-719-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Transfer of goodwill 'at cost' not taxable despite violation of exemption conditions on conversion of proprietorship into company

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-721-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: CIT(A) required to adjudicate additional grounds earlier rejected by PCIT under revisionary proceedings

Sep 17, 2022

In Favour of : Assessee
Citation Number : TS-693-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Upholds income enhancement by CIT(A) based on the nature of business not considered by AO

Sep 17, 2022

In Favour of : Revenue
Citation Number : TS-717-ITAT-2022(CHNY)

Weekly Digest #36 04 Sep to 10 Sep 2022 7 Rulings

High Court HC: No 'deemed' registration under Sec.12AA on expiry of 6 months; Follows SC ruling in Harshit Foundation

Sep 10, 2022

In Favour of : Revenue
Citation Number : TS-690-HC-2022(ALL)

High Court HC: Directs Revenue to issue supplementary SCN to MDH with underlying information in reassessment proceedings

Sep 10, 2022

In Favour of : Assessee
Citation Number : TS-705-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds Sec.263 revision despite DRP directions; Follows Adamas Builders over Barclays Bank ruling

Sep 10, 2022

In Favour of : Revenue
Citation Number : TS-706-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Deletes disallowance under Section 40A(3) for cash payment in buying agricultural land under compelling circumstances

Sep 10, 2022

In Favour of : Assessee
Citation Number : TS-712-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Addition based merely on loose paper without incriminating evidence, not sustainable

Sep 10, 2022

In Favour of : Assessee
Citation Number : TS-710-ITAT-2022(SUR)

Income tax Appellate Tribunal ITAT: Amended Sec.269SS prospective in nature, does not cover receipt of advance in cash; Deletes Sec.271D penalty

Sep 10, 2022

In Favour of : Assessee
Citation Number : TS-702-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Share premium received through banking channel cannot be considered unexplained under Sec.68 where Assessee discharged onus

Sep 10, 2022

In Favour of : Assessee
Citation Number : TS-703-ITAT-2022(Mum)

Weekly Digest #35 28 Aug to 03 Sep 2022 7 Rulings

High Court HC: Considering Assessee’s reply to SCN mandatory under Sec.148A(c); Directs to pass speaking order under Sec.148A(d)

Sep 03, 2022

In Favour of : Assessee
Citation Number : TS-688-HC-2022(DEL)

High Court HC: Grants interest at 5% on refund delayed beyond 90 days, determined under VsV Act

Sep 03, 2022

In Favour of : Assessee
Citation Number : TS-691-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes Rs. 224 Cr interest disallowance for Lodha Developers, remits issue of allowability of political donations for verification

Sep 03, 2022

In Favour of : Both, Partially
Citation Number : TS-694-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Quashes revision of BYJU's assessment, exercised over addition already made and pending before CIT(A)

Sep 03, 2022

In Favour of : Assessee
Citation Number : TS-683-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Revision not justifiable over difference of opinion; PCIT required to check appeal status before exercising revisionary powers

Sep 03, 2022

In Favour of : Assessee
Citation Number : TS-687-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Denies registration of Trust for exemption, engaged in providing housing credit from borrowed funds

Sep 03, 2022

In Favour of : Revenue
Citation Number : TS-696-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Directs CPC to give TDS credit claimed through rectification application; Holds revised return not necessary

Sep 03, 2022

In Favour of : Assessee
Citation Number : TS-679-ITAT-2022(DEL)

Weekly Digest #34 21 Aug to 27 Aug 2022 7 Rulings

High Court HC: Allows ESOP expenditure to PVR by following Karnataka HC ruling in Biocon

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-675-HC-2022(DEL)

High Court HC: CIT cannot invoke revisionary power for AY prior to 2015 amendment in Sec.263, over AO inadequate inquiry

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-664-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: ITAT: Services rendered not managerial, thus commission earned not taxable as FTS

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-674-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Remits JSW's appeal over allowability of CSR expenditure incurred beyond statutory limits

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-657-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Allows depreciation on cars to Company, purchased in Directors' name, basis dominion ownership test

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-676-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: ITAT: Web hosting charges paid to Amazon not taxable as royalty, not liable for TDS

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-670-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Deletes addition made by CIT(A) basis Bank A/c not considered by AO; Reiterates law on assessment enhancement

Aug 27, 2022

In Favour of : Assessee
Citation Number : TS-669-ITAT-2022(Bang)

Weekly Digest #33 14 Aug to 20 Aug 2022 6 Rulings

High Court HC: VsV benefit applicable to Company petition for interest-waiver; Holds Revenue's approach 'hyper technical'

Aug 20, 2022

In Favour of : Assessee
Citation Number : TS-661-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: 10% margin under Sec.43CA applicable retrospectively, since beneficial in nature

Aug 20, 2022

In Favour of : Assessee
Citation Number : TS-658-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Allows revised return based on consolidated balance sheet pursuant to amalgamation, against defective return notice

Aug 20, 2022

In Favour of : Assessee
Citation Number : TS-650-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Depreciation on capacitors 'ready to use' not allowable due to termination of lease; Remits on allowability as business loss

Aug 20, 2022

In Favour of : Both, Partially
Citation Number : TS-659-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Upholds reassessment notice issued before expiry of time limit for initiating scrutiny assessment

Aug 20, 2022

In Favour of : Revenue
Citation Number : TS-654-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Upholds income declaration by land owner under Project Completion Method; Advances not taxable on receipt basis

Aug 20, 2022

In Favour of : Assessee
Citation Number : TS-648-ITAT-2022(Mum)

Weekly Digest #32 07 Aug to 13 Aug 2022 8 Rulings

High Court HC: Delay in issuing reassessment notice, a substantial lapse, not curable by corrigendum

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-646-HC-2022(KAR)

High Court HC: Sets aside reassessment proceeding over ambiguity on allegation; Remands the matter with amendment in SCN

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-635-HC-2022(DEL)

High Court HC: No TDS on interest on compensation awarded by MACT prior to FA 2015 amendment; Cannot burden claimants with refund process

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-642-HC-2022(P & H)

High Court HC: Assessee eligible for interest under Sec.244A(1)(b) on sum refundable due to recomputation; Rejects Revenue's plea of 'interest on interest'

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-640-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.54F benefit available to NR for residential property situated outside India, prior to AY 2015-16

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-639-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes adjustments by CPC under Sec.10(23EA) & 11, made beyond its statutory mandate for AY 2015-16

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-638-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Delay of over 3800 days in challenging CIT(A) order, not condonable; Holds ignorance of law no excuse

Aug 13, 2022

In Favour of : Revenue
Citation Number : TS-628-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Deletes Sec.56(2)(viia) addition based on increase in face value after share-acquisition as violative of Rule 11UA

Aug 13, 2022

In Favour of : Assessee
Citation Number : TS-633-ITAT-2022(DEL)

Weekly Digest #31 31 Jul to 06 Aug 2022 7 Rulings

High Court HC: HC: Sets aside reassessment notice against stock broker based on alleged income escapement from client's share transaction

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-623-HC-2022(DEL)

High Court HC: Sets aside reassessment notice as Sec.148A(d) order based on allegation not reflected in Sec.148A(b) notice

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-622-HC-2022(DEL)

High Court HC: Expenditure incurred for beautification of Domino's outlets, revenue in nature; Upholds ITAT order deleting Rs.47 Cr addition

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-626-HC-2022(ALL)

Income tax Appellate Tribunal ITAT: ITAT: Michael Page's services not taxable as FTS since incidentally benefitting Indian AE without transfer of technology

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-624-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Reckons limitation period from date of giving effect to ITAT order in quantum appeal; Quashes penalty as time-barred

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-621-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Services to RIL in connection with KG Basin covered by FTS-exclusion, taxable under Sec.44BB

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-618-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Holds accumulation of income of Trust under Sec.11 to be taken on gross basis

Aug 06, 2022

In Favour of : Assessee
Citation Number : TS-614-ITAT-2022(Bang)

Weekly Digest #30 24 Jul to 30 Jul 2022 6 Rulings

High Court HC: Dismisses Revenue's appeal as objection on jurisdiction under Sec.124(4) left undecided during assessment proceedings

Jul 30, 2022

In Favour of : Assessee
Citation Number : TS-603-HC-2022(DEL)

High Court HC: Dismisses Revenue's appeal on Sec.68 additions pursuant to Court approved amalgamation scheme

Jul 30, 2022

In Favour of : Assessee
Citation Number : TS-600-HC-2022(CAL)

Income tax Appellate Tribunal ITAT: ITAT: TDS on gross contractual payment to digital media agency covered under Sec.194C, not Sec.194J

Jul 30, 2022

In Favour of : Assessee
Citation Number : TS-604-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Amendment to Sec.14A prospective in nature; Follows Delhi HC's Era Infrastructure ruling

Jul 30, 2022

In Favour of : Assessee
Citation Number : TS-598-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Remands case of Coop. Bank over peculiar accounting methodology for claim of bad & doubtful debts

Jul 30, 2022

In Favour of : Both, Partially
Citation Number : TS-597-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: Assessee qualifies as VCU, Sec.56(2)(viib) inapplicable on share premium received from VCF

Jul 30, 2022

In Favour of : Assessee
Citation Number : TS-592-ITAT-2022(DEL)

Weekly Digest #29 17 Jul to 23 Jul 2022 6 Rulings

High Court HC: Upholds allowability of Sec.80-IB deduction on pro-rata basis for eligible residential units

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-581-HC-2022(BOM)

High Court HC: Directs Govt. to quantify scientific research expenditure on SRF's in-house R&D for weighted deduction

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-572-HC-2022(DEL)

High Court HC: Deletes disallowance for short tax-deduction, correct course of action is Sec.201 proceedings

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-580-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Forex fluctuation loss allowable on loan transaction between PE and HO

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-571-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Allows deduction under Chapter VI-A where Trust assessed as AOP, not claimed Sec.11 exemption

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-569-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Interest under Sec.201(1A) leviable only on professional or technical services fee paid by HRD Ministry to PIU

Jul 23, 2022

In Favour of : Assessee
Citation Number : TS-563-ITAT-2022(DEL)

Weekly Digest #28 10 Jul to 16 Jul 2022 9 Rulings

High Court HC: Restrains from interfering with concurrent fact-finding by lower authorities; Dismisses Revenue's appeal

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-558-HC-2022(DEL)

High Court HC: Assessee not liable for wealth tax where possession of property handed over under development agreement

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-559-HC-2022(KAR)

Income tax Appellate Tribunal ITAT: ITAT: Software licence & maintenance, GWAN connectivity charges received by EY Global not taxable as royalty

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-560-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sets aside reassessment on Navajbai Ratan Tata Trust, initiated sans new or tangible material

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-561-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Embezzlement loss, discovered earlier, allowable for AY in which its non-recovery got confirmed

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-549-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: Allocation of common expenditure by Dr. Reddy's Labs to tax-exempt units, rectifiable since not debatable

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-553-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: ITAT: Deletes addition of business expenditure disallowed over dispute on commencement of business

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-548-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: DRP procedure prospective, applicable AY 2011-12 onwards; Holds assessment time-barred, follows Madras HC Vedanta ruling

Jul 16, 2022

In Favour of : Assessee
Citation Number : TS-557-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Upholds addition of undisclosed cash, claimed as income from earlier years, disclosed in post-search wealth tax return

Jul 16, 2022

In Favour of : Revenue
Citation Number : TS-554-ITAT-2022(CHNY)

Weekly Digest #27 03 Jul to 09 Jul 2022 10 Rulings

High Court HC: HC: Compensation to end litigation, obtain peaceful & vacant property, not capital expenditure

Jul 09, 2022

In Favour of : Revenue
Citation Number : TS-536-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Dismisses appeal in limine as Assessee was subjected to insolvency proceedings

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-530-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes penalty where Assessee under bona fide belief that journal adjustments permissible under Sec.269SS & 269T

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-532-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sale of carbon credit, capital receipt where not linked to business but to environmental concern

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-531-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: SFIS credit not taxable as utilized against purchase of capital goods & for setting off excise / customs duty

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-540-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Imperative for Revenue to ascertain profits alleged as derived from arrangement for denying Sec.10AA deduction

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-533-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Foreign rental income declared in returns filed in respective countries, not includible in Indian income

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-535-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Denies Sec.10(23C)(iiiab) exemption where University not ‘substantially funded’ by Govt.

Jul 09, 2022

In Favour of : Revenue
Citation Number : TS-541-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: 'Constitutional Validity' exception to tax-effect Circular not applicable since appeal decided by CIT(A) on merits

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-521-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Agent's method of accounting reflecting increased turnover irrelevant for penalising failure to audit books

Jul 09, 2022

In Favour of : Assessee
Citation Number : TS-539-ITAT-2022(Mum)

Weekly Digest #26 26 Jun to 02 Jul 2022 6 Rulings

Income tax Appellate Tribunal ITAT: Deletes penalty on Linklaters where full disclosure was made despite adverse order on merits

Jul 02, 2022

In Favour of : Assessee
Citation Number : TS-515-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Inadvertent technical fault in challan cannot debar Assessee from claiming DDT credit

Jul 02, 2022

In Favour of : Assessee
Citation Number : TS-516-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Delay of over 500 days in challenging revisionary order not condonable; Ignorance of law no excuse for educated Assessee

Jul 02, 2022

In Favour of : Revenue
Citation Number : TS-518-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Non-service of notice on Assessee in judicial custody renders the revisionary order invalid

Jul 02, 2022

In Favour of : Assessee
Citation Number : TS-512-ITAT-2022(CTK)

Income tax Appellate Tribunal ITAT: Share transfer taxable in India where Assessee's residential status not in dispute

Jul 02, 2022

In Favour of : Revenue
Citation Number : TS-504-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Sec.69A addition on Revenue’s mere disbelief of explanation offered, not sustainable

Jul 02, 2022

In Favour of : Assessee
Citation Number : TS-519-ITAT-2022(PUN)

Weekly Digest #25 19 Jun to 25 Jun 2022 8 Rulings

High Court HC: Quashes ITAT’s order passed against Assessee despite dismissal of Revenue's appeal against prior years' ITAT orders

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-495-HC-2022(BOM)

High Court HC: Quashes reassessment proceeding for ‘change of opinion’ on sales promotion expense in alleged violation of MCI Regulations

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-492-HC-2022(BOM)

High Court HC: Prosecution initiated for wilful default on tax-payment fails where ITAT decided in Assessee's favour

Jun 25, 2022

In Favour of : Revenue
Citation Number : TS-501-HC-2022(MAD)

Income tax Appellate Tribunal ITAT: Service Fee paid to UK Company for client-introduction not FTS but regular business expenditure

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-489-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Quashes reassessment for Biocon sans new material leading to ‘reason to believe’ over Sec.35(2AB) deduction

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-490-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Legal challenge to reopening not challenged before ITAT earlier, cannot be decided by in remand proceedings

Jun 25, 2022

In Favour of : Both, Partially
Citation Number : TS-502-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: ITAT: Acquiring infrastructure, agreement for operating hotel constitutes business ‘set up’; Allows hotelier's claim of revenue expenditure

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-496-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Holds appeal filed by or against struck-off company to be maintainable

Jun 25, 2022

In Favour of : Assessee
Citation Number : TS-499-ITAT-2022(DEL)

Weekly Digest #24 12 Jun to 18 Jun 2022 8 Rulings

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)

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)

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)

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)

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)

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)

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)

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)

Weekly Digest #23 05 Jun to 11 Jun 2022 9 Rulings

High Court HC: Remands reassessment proceeding since Assessee's adjournment request not considered, SCN sent on wrong email

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-454-HC-2022(DEL)

High Court HC: Allows Assessee to argue on applicable tax rate before ITAT, left undecided by DRP

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-461-HC-2022(KAR)

Income tax Appellate Tribunal ITAT: Camera charges, interest income for snake catchers society eligible for 80P deduction

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-449-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Differential stamp duty arising due to purchase of property other than one originally agreed, not taxable

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-450-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Communication charges paid to Cerner Corp. not taxable as royalty, not liable for TDS

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-456-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Development charges paid to town planning authorities not liable to TDS; Deletes Sec.271C penalty

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-464-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Manner of disbursement not decisive for determining nature of subsidy; Holds incentive for industrial growth, capital receipt

Jun 11, 2022

In Favour of : Assessee
Citation Number : TS-460-ITAT-2022(PUN)

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)

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)

Weekly Digest #22 29 May to 04 Jun 2022 10 Rulings

High Court HC: Reasons to believe based on RERA complaint lacked application of mind by Revenue; Quashes Sec.148 notice

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-438-HC-2022(BOM)

High Court HC: Rejects writ against revisionary order for availability of appellate remedy before ITAT

Jun 04, 2022

In Favour of : Revenue
Citation Number : TS-398-HC-2022(MAD)

Income tax Appellate Tribunal ITAT: Remits appeal over Revenue's 'colourable device' finding on valuation report & goodwill in business acquisition

Jun 04, 2022

In Favour of : None/NA
Citation Number : TS-436-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Power to rectify does not extend to orders passed under Sec.254(2); Dismisses Revenue's MA

Jun 03, 2022

In Favour of : Assessee
Citation Number : TS-441-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: ITAT: Payment for benchmarking services not FIS, not taxable as business income in absence of PE

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-432-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Remittances to Cambridge University & IB for imparting instructions on syllabus not taxable as FTS

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-430-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Assessee not liable for interest where not found as TCS defaulter

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-437-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Section 45(2) inapplicable on failure to demonstrate conversion of stock-in-trade, basis accounting entries

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-439-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Mere reference to Assessee as ‘contractor’ insufficient to deny deduction under Section 80-IA

Jun 04, 2022

In Favour of : Assessee
Citation Number : TS-434-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Confirms revision over examination of source of source for share application money

Jun 04, 2022

In Favour of : Revenue
Citation Number : TS-404-ITAT-2022(Mum)

Weekly Digest #21 22 May to 28 May 2022 10 Rulings

High Court HC: Quashes reassessment notice involving alleged rigging of penny stock; Finds no failure in information disclosure

May 28, 2022

In Favour of : Assessee
Citation Number : TS-414-HC-2022(BOM)

High Court HC: Development authority taxable since income vests with State Govt. only on dissolution; Rejects 'diversion of income' plea

May 28, 2022

In Favour of : Revenue
Citation Number : TS-413-HC-2022(UTT)

High Court HC: Sets aside penalty on DGIT(Vigilance) by CIC in absence of proven mala fide

May 28, 2022

In Favour of : Revenue
Citation Number : TS-415-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.270A penalty order not appealable before ITAT, lies before CIT(A) since covered under Sec.246A(1)(q)

May 28, 2022

In Favour of : Revenue
Citation Number : TS-410-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Expertise no bar for trading in commodity derivatives; Allows Radiologist set off against other business income

May 28, 2022

In Favour of : Assessee
Citation Number : TS-411-ITAT-2022(LKW)

Income tax Appellate Tribunal ITAT: Upholds eligibility for Sec.10A exemption for period where Assessee’s exports were certified for valuation

May 28, 2022

In Favour of : Assessee
Citation Number : TS-408-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Restores appeal against reassessment over Rs.70 Lakh cash deposit by non-filer Assessee

May 28, 2022

In Favour of : Both, Partially
Citation Number : TS-407-ITAT-2022(CHANDI)

Income tax Appellate Tribunal ITAT: Upholds disallowance of amount paid through bearer cheques & weekly payments to contractors

May 28, 2022

In Favour of : Revenue
Citation Number : TS-406-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Holds deduction under Sec.80-IC not available while computing book profits for MAT

May 28, 2022

In Favour of : Revenue
Citation Number : TS-405-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Provision for doubtful debts excludible from total turnover, at par with export turnover, for Sec.10A deduction

May 28, 2022

In Favour of : Assessee
Citation Number : TS-412-ITAT-2022(CHNY)

Weekly Digest #20 15 May to 21 May 2022 8 Rulings

High Court HC: Commission to directors & relatives with no special expertise in procurement, unreasonable; Upholds Sec.37 disallowance

May 21, 2022

In Favour of : Revenue
Citation Number : TS-374-HC-2022(ORI)

Income tax Appellate Tribunal ITAT: Holds adjustment of brought forwards capital losses against tax-exempt capital gain as unsustainable

May 21, 2022

In Favour of : Assessee
Citation Number : TS-386-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Sale of equipment concluded outside India, not taxable; Relies on SC ruling in Ishikawajima Harima

May 21, 2022

In Favour of : Assessee
Citation Number : TS-387-ITAT-2022(DDN)

Income tax Appellate Tribunal ITAT: ITAT: Remands issue of taxability of sum received from Hutch as royalty; Considers Assessee’s MFN Clause plea

May 21, 2022

In Favour of : None/NA
Citation Number : TS-380-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Bonus issue not received for inadequate consideration; Holds Sec.56(2)(vii)(c) inapplicable

May 21, 2022

In Favour of : Assessee
Citation Number : TS-388-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds revisionary order since original assessment completed without proper enquiries

May 21, 2022

In Favour of : Revenue
Citation Number : TS-377-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Settling creditors prior to receipt of BSE shares, not relevant for computing capital gains from share-sale

May 21, 2022

In Favour of : Revenue
Citation Number : TS-363-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Rejects revisionary order against real estate developer over valuation of WIP, finds accounting compliant with ICAI Guidelines

May 21, 2022

In Favour of : Assessee
Citation Number : TS-369-ITAT-2022(Ahd)

Weekly Digest #19 08 May to 14 May 2022 8 Rulings

High Court HC: Expenses incidental to imparting training not deterrent to Sec.10(23C) exemption

May 14, 2022

In Favour of : Assessee
Citation Number : TS-367-HC-2022(ORI)

Income tax Appellate Tribunal ITAT: Arbitration award received by partner without specific mention of retirement, not taxable under Sec.28(iv)

May 14, 2022

In Favour of : Assessee
Citation Number : TS-353-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Income from Carbon Credits, capital receipt; Gain from interest/currency swap agreement taxable on loan-settlement

May 14, 2022

In Favour of : Assessee
Citation Number : TS-362-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Management fee prior to project-completion in SEZ, not revenue expenditure; Denies plea of consistency

May 14, 2022

In Favour of : Assessee
Citation Number : TS-370-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Adjustment under Sec.143(1) without intimation, legally invalid; Finds NFAC's functioning mechanical

May 14, 2022

In Favour of : Assessee
Citation Number : TS-355-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Holds CAM charges contractual payments, Lifestyle International liable for TDS under Sec.194C, not Sec.194-I

May 14, 2022

In Favour of : Assessee
Citation Number : TS-352-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Upholds revision where Sec.80-IA claim allowed contrary to requirement of Sec.80(5); Rejects challenge to jurisdiction-transfer

May 14, 2022

In Favour of : Revenue
Citation Number : TS-365-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Holds interest on loan availed for strategic investment in US-subsidiary, revenue in nature

May 14, 2022

In Favour of : Assessee
Citation Number : TS-366-ITAT-2022(PUN)