Direct tax Weekly Digest

Weekly Digest #18 01 May to 07 May 2022 8 Rulings

High Court HC: Eight hours to respond to show cause notice, unreasonable & ineffective; Sets aside reassessment order

May 06, 2022

In Favour of : Assessee
Citation Number : TS-345-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Delay not attributable to Infosys; Extends stay on outstanding demand of about Rs.1,029 Cr.

May 07, 2022

In Favour of : Assessee
Citation Number : TS-349-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows TVS set off of loss from Sec.80-IC unit against income of ineligible unit

May 07, 2022

In Favour of : Assessee
Citation Number : TS-338-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: No prohibition against NRI accepting gifts from relatives, holds Sec. 68 additions unsustainable

May 07, 2022

In Favour of : Both, Partially
Citation Number : TS-348-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Advance paid by spouse and reimbursed by Assessee eligible for benefit under Section 54F

May 07, 2022

In Favour of : Assessee
Citation Number : TS-347-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Restores matter for examining additional evidence over disallowance of service tax offered to tax in year of refund

May 07, 2022

In Favour of : None/NA
Citation Number : TS-350-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Payments made to harvesting contractors by sugar manufacture liable for TDS under Sec.194C

May 07, 2022

In Favour of : Revenue
Citation Number : TS-346-ITAT-2022(PAN)

Income tax Appellate Tribunal ITAT: Deletes disallowance of interest not included in WIP & on borrowings advanced to sister concern

May 07, 2022

In Favour of : Assessee
Citation Number : TS-343-ITAT-2022(PAN)

Weekly Digest #17 24 Apr to 30 Apr 2022 9 Rulings

High Court HC: Holds cancellation of Trust’s registration basis third party statement, devoid of satisfaction under Sec 12AA(3), unsustainable

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-326-HC-2022(CAL)

Income tax Appellate Tribunal ITAT: Holds additions basis change in accounting method for AMC contract revenue, untenable

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-323-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Disallows Havmor interest on borrowings for extension of business, reflected as Capital WIP

Apr 30, 2022

In Favour of : Both, Partially
Citation Number : TS-322-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Non-compete fee, ‘a right in personam’, ineligible for depreciation under Sec.32

Apr 30, 2022

In Favour of : Revenue
Citation Number : TS-325-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Royalty paid by Nefab India for technical know-how under licence agreement with Swedish parent, revenue expenditure

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-320-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Interest on delayed payment of TDS, compensatory in nature, deductible in computing taxable income

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-330-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Interest on sum paid to National Pharma Pricing Authority for drugs' overpricing, allowable under Sec.37(1) & 43B

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-311-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Transportation business carried out through hired vehicles not covered by Sec.194C

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-314-ITAT-2022(SUR)

Income tax Appellate Tribunal ITAT: Receipts from sale of Microsoft's retail products, cloud services not taxable as royalty

Apr 30, 2022

In Favour of : Assessee
Citation Number : TS-317-ITAT-2022(DEL)

Weekly Digest #16 17 Apr to 23 Apr 2022 11 Rulings

High Court HC: Follows other HCs in reassessment controversy; Quashes notice issued under old regime, grants Revenue liberty to reissue notices

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-309-HC-2022(KAR)

High Court HC: Quashes reassessment notice as JAO admits ‘bonafide mistake’ due to work load

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-306-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Holds MOL Corp’s revenue from product licencing fees, cloud services not taxable as royalty

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-307-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Rules on allowability of commission expense, ad hoc disallowance in Wuhan Research Institute’s case

Apr 23, 2022

In Favour of : Both, Partially
Citation Number : TS-280-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Allows expenditure incurred by Cineyug to retain infrastructure during temporary lull in business

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-301-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes ad hoc disallowance of cash expenditure on fuel, freight for transport operator

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-303-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Restores matter in EduNxt's case over royalty issue in light of SC ruling in Engineering Analysis

Apr 23, 2022

In Favour of : None/NA
Citation Number : TS-302-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Computation under Sec.11(1)(a) basis actual receipts contrary to law; Allows computation based on actual income

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-308-ITAT-2022(PAN)

Income tax Appellate Tribunal ITAT: Restores issue of allowability of depreciation on revalued building pursuant to conversion of firm into company

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-298-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Condones delay of over 500 days in filing appeal before CIT(A) in non-resident's case

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-300-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Loss on abandoned projects, capital in nature, eligible for set off in relevant year

Apr 23, 2022

In Favour of : Assessee
Citation Number : TS-299-ITAT-2022(CHNY)

Weekly Digest #15 10 Apr to 16 Apr 2022 6 Rulings

High Court HC: Upholds disallowance of bonus paid to directors in lieu of dividend; Reiterates settled legal position

Apr 16, 2022

In Favour of : Revenue
Citation Number : TS-276-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Yatra Online’s deposits with airlines rendered irrecoverable due to bankruptcy, allowable as business loss

Apr 16, 2022

In Favour of : Assessee
Citation Number : TS-282-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Floor demolished prior to transfer of property not relevant for computing Capital Gains

Apr 16, 2022

In Favour of : Revenue
Citation Number : TS-279-ITAT-2022(VIZ)

Income tax Appellate Tribunal ITAT: Private Discretionary Trust taxable as AOP, not Individual, basis definition of Person under Sec.2(31)

Apr 16, 2022

In Favour of : Revenue
Citation Number : TS-284-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Upholds taxability as capital gains in partner's hands where JDA for property not part of firm’s business

Apr 16, 2022

In Favour of : Revenue
Citation Number : TS-286-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows rectification of Sec.80-IA claim over adjustment of brought forward unabsorbed depreciation

Apr 16, 2022

In Favour of : Revenue
Citation Number : TS-285-ITAT-2022(Ahd)

Weekly Digest #14 03 Apr to 09 Apr 2022 11 Rulings

High Court HC: Shows leniency to FAO as order passed in breach of guidelines on reassessment procedure stands withdrawn

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-261-HC-2022(BOM)

High Court HC: Upholds Hamdard National Foundation's exemption, basis factual finding that scholarship not limited to particular community

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-262-HC-2022(DEL)

High Court HC: Quashes reassessment proceeding in Sun N Sand Hotels' case basis change of opinion over Sec.80-IA deduction

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-255-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Revenue to examine nature of payments made by Truly Madly to Apple, Google & LinkedIn for applicability of Sec.195

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-260-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds surveillance fee's taxability as per CARE's accounting policy; Allows proportionate TDS credit

Apr 09, 2022

In Favour of : Both, Partially
Citation Number : TS-1204-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Commission/brokerage paid to foreign agent, not liable for TDS under Sec.195 absent PE in India

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-250-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sets aside revision in Britannia's case over Sec.35(2AB) deduction, advertisement on LinkedIn

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-258-ITAT-2022(Kol)

Income tax Appellate Tribunal ITAT: Allows claim for TDS credit where corresponding income offered to tax in prior years

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-253-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Marked-to-market loss on valuation of CER, not contingent loss; Rejects Revenue's capital loss plea

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-257-ITAT-2022(Kol)

Income tax Appellate Tribunal ITAT: Assessee's status as co-operative society prerequisite for Sec.80P deduction; Restores matter to CIT(A) for verification

Apr 09, 2022

In Favour of : Revenue
Citation Number : TS-252-ITAT-2022(ALLD)

Income tax Appellate Tribunal ITAT: Affordable housing project by Lucknow Development Authority covered under charitable purpose clause

Apr 09, 2022

In Favour of : Assessee
Citation Number : TS-232-ITAT-2022(LKW)

Weekly Digest #13 27 Mar to 02 Apr 2022 10 Rulings

High Court HC: Directs CIT to decide Tata Teleservices' stay application on basic principles against Rs.42.40 Cr demand

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-244-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Draft order coupled with demand, penalty notice not final assessment order where Sec.144C regime duly followed

Apr 02, 2022

In Favour of : Both, Partially
Citation Number : TS-210-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Treats parking space not attached to flat under purchase agreement as independent asset for capital gains

Apr 02, 2022

In Favour of : Both, Partially
Citation Number : TS-241-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Allows Reckitt Benckiser’s claim under Sec.80-IC on unrealised foreign exchange gain

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-228-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Holds Sec. 69C inapplicable, Revenue’s apprehension of non-existence of creditor over failure to deliver summons unfounded

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-243-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Profit attribution in Alcatel Lucent, Portugal's case basis group entity's order, invalid; Directs de novo adjudication

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-239-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Allows Sec. 10A exemption after denial under Sec.10B where Assessee met requisite conditions

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-242-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Upholds disallowance of depreciation on speedboat, earlier allowed due to limited scrutiny

Apr 02, 2022

In Favour of : Revenue
Citation Number : TS-237-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Limitation under Sec.263 to be reckoned from assessment order where subject matter of revision not covered in reassessment order

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-240-ITAT-2022(Kol)

Income tax Appellate Tribunal ITAT: Sec.69A inapplicable on deposits made post-demonetisation since currency's value guaranteed till Dec 31, 2016

Apr 02, 2022

In Favour of : Assessee
Citation Number : TS-238-ITAT-2022(VIZ)

Weekly Digest #12 20 Mar to 26 Mar 2022 10 Rulings

High Court HC: Quashes reassessment notice as reasons to believe contrary to Revenue's stand in related appellate proceedings

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-215-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Absence of reasons for accepting Assessee’s explanation in assessment proceeding, insufficient for invoking Sec.263

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-199-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Interest on unsecured loans from related parties at 18%, not 'excessive and unreasonable' considering business contingencies

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-204-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition for deemed rental income based on unreasonable quantification

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-205-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Lull in production no reason to disallow depreciation since assets put to use

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-203-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Interest under Sec. 24 not deductible sans proof of completion of construction & readiness to let out

Mar 26, 2022

In Favour of : Revenue
Citation Number : TS-193-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Sec.23(5) inapplicable prior to AY 2018-19, hypothetical rent from unsold stock not taxable as business income

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-211-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Addition based on information received from Mauritius subsequent to search not tenable in non-abated assessment

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-212-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Form 67 filing directory, not mandatory, remands matter to ascertain allowability of FTC

Mar 26, 2022

In Favour of : Assessee
Citation Number : TS-214-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Reiterates legal position on 16 years period for reopening of assessment; Follows Dilip Thakkar ruling

Mar 26, 2022

In Favour of : Revenue
Citation Number : TS-213-ITAT-2022(Mum)

Weekly Digest #11 13 Mar to 19 Mar 2022 6 Rulings

High Court HC: Sets aside order disposing of objection, directs for speaking order on issue of limitation

Mar 19, 2022

In Favour of : Assessee
Citation Number : TS-187-HC-2022(CAL)

Income tax Appellate Tribunal ITAT: Tax on Sajid Nadiadwala's producer fee deductible under Sec.194J, not Sec.192

Mar 19, 2022

In Favour of : Assessee
Citation Number : TS-165-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition of ‘peak balance’ in foreign bank account unsubstantiated by proof of beneficial ownership

Mar 19, 2022

In Favour of : Assessee
Citation Number : TS-188-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Net income alone chargeable to tax, on maturity of LIC policy, where Sec.10(10D) inapplicable

Mar 19, 2022

In Favour of : Assessee
Citation Number : TS-184-ITAT-2022(Kol)

Income tax Appellate Tribunal ITAT: Income from access to online database, not royalty under India-US DTAA

Mar 19, 2022

In Favour of : Assessee
Citation Number : TS-186-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Disallows provision for bad debts for electricity company de hors regulatory requirements

Mar 19, 2022

In Favour of : Revenue
Citation Number : TS-183-ITAT-2022(CHNY)

Weekly Digest #10 06 Mar to 12 Mar 2022 8 Rulings

High Court HC: BPO LLC not required to maintain Escrow A/c as Revenue withdraws SCN for TDS proceedings

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-166-HC-2022(BOM)

High Court HC: HC: Reiterates law on taxation of software distribution following SC ruling in Engineering Analysis

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-161-HC-2022(DEL)

High Court HC: Quashes reassessment notice for alleged income escapement over disclosed contingent liability

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-164-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Date of possession, not date of registration relevant for construing purchase for Sec.54 benefit

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-155-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Change in shareholding of ultimate parent company, no trigger for denying set-off of brought forward losses

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-151-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Dispels clubbing provisions where sources of funds not doubted; Allows HRA on rent paid to spouse

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-152-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Allows exemption of income wrongly recorded in subsequent AY due to error in computer software

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-154-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition for alleged penny stock sale absent incriminating material

Mar 12, 2022

In Favour of : Assessee
Citation Number : TS-122-ITAT-2022(Mum)

Weekly Digest #9 27 Feb to 05 Mar 2022 10 Rulings

High Court HC: Quashes reassessment notice against Mangalore Refinery based on change of opinion

Mar 05, 2022

In Favour of : Assessee
Citation Number : TS-138-HC-2022(BOM)

High Court HC: Quashes assessment order passed during pendency of reference before DRP, directs for fresh order

Mar 05, 2022

In Favour of : Assessee
Citation Number : TS-131-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Allows Aishwarya Rai's appeal against revision of void reassessment order

Mar 05, 2022

In Favour of : Assessee
Citation Number : TS-133-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Centralised Reservation & Property Management Services provided to Marriott, not taxable as FTS or Royalty

Mar 05, 2022

In Favour of : Assessee
Citation Number : TS-132-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Dismisses batch of 65 appeals, holds no TDS liability on transponder charges for Viacom 18

Mar 05, 2022

In Favour of : Assessee
Citation Number : TS-139-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Mixed use charges for regularising commercial use of residential property not deductible under Sec.23(1)

Mar 05, 2022

In Favour of : Revenue
Citation Number : TS-137-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds disallowance of unascertained loss on embezzlement, pending investigation & not charged to P&L A/c

Mar 05, 2022

In Favour of : Revenue
Citation Number : TS-130-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Upholds revision as borrowed fund not invested, yet interest claimed against investment income

Mar 05, 2022

In Favour of : Revenue
Citation Number : TS-142-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Rejects Firm's books prepared after survey on Partner, relies on Partner's statement

Mar 05, 2022

In Favour of : Revenue
Citation Number : TS-128-ITAT-2022(SUR)

Income tax Appellate Tribunal ITAT: Upholds revision, ledger with incomplete details accepted without further investigation

Mar 05, 2022

In Favour of : Revenue
Citation Number : TS-134-ITAT-2022(CHANDI)

Weekly Digest #8 20 Feb to 26 Feb 2022 10 Rulings

High Court HC: Holds Assessee as ‘developer’ u/s 80-IB(10) due to entitlement to profit-share in approved project

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-113-HC-2022(BOM)

High Court HC: Directs disposal of Nokia's rectification application within 6 weeks over refund claim of Rs.58.20 Cr.

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-110-HC-2022(DEL)

High Court HC: Allows VsV application as delay in filing appeal was condoned by ITAT; Holds CBDT Circular clarificatory

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-111-HC-2022(RAJ)

Income tax Appellate Tribunal ITAT: Pre-shipment inspection & examination of products not taxable as technical & managerial services

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-118-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Holds consideration from sale of TDRs, a non-taxable capital receipt

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-102-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Quashes assessment orders passed beyond time limit u/s 153; Holds Sec.144C inapplicable prior to AY 2010-11

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-116-ITAT-2022(SUR)

Income tax Appellate Tribunal ITAT: Upholds taxability of capital gains in year of irrevocable transfer of possession under development agreement

Feb 26, 2022

In Favour of : Revenue
Citation Number : TS-115-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Delay in ITR-filing, no hindrance for capital gains exemption on investment in NHAI Bonds

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-114-ITAT-2022(SUR)

Income tax Appellate Tribunal ITAT: Deletes Sec.69C addition absent Revenue’s rebuttal of Assessee’s explanation on source

Feb 26, 2022

In Favour of : Assessee
Citation Number : TS-101-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Denies Sec.11 exemption absent real connection between construction activity & trust's objectives

Feb 26, 2022

In Favour of : Revenue
Citation Number : TS-107-ITAT-2022(Bang)

Weekly Digest #7 13 Feb to 19 Feb 2022 10 Rulings

High Court HC: Sets aside reassessment notice in Tata Sons's case, basis 'classic example' of change of opinion

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-94-HC-2022(BOM)

High Court HC: Quashes reassessment notice in Nishith Desai's case, finds finality attained on same issue in another AY

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-92-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Quashes revision proceedings against Sir Ratan Tata Trust following coordinate bench's ruling

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-96-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: ‘Milk Parlours’ not warehouses/godowns u/s 80P(2)(e), denies deduction for rental income

Feb 19, 2022

In Favour of : Revenue
Citation Number : TS-77-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows due diligence expense, legal fees for unmaterialised business expansion

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-95-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Interest-free self-help contributions distributed to needy qualifies for Charitable Purpose

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-97-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Share in residential property with appurtenant land described as plot in sale deed eligible for Sec.54 benefit

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-93-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition made by invoking dividend stripping provisions on dividend from mutual funds

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-78-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Mere filing of SLP or review petition does not alter settled legal position

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-89-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition made u/s 68 as Assessee discharged onus; Sec.56(2)(viib) not invocable prior to AY 2013-14

Feb 19, 2022

In Favour of : Assessee
Citation Number : TS-98-ITAT-2022(Mum)

Weekly Digest #6 06 Feb to 12 Feb 2022 7 Rulings

Income tax Appellate Tribunal ITAT: Quashes Bentley Nevada's reassessment; Holds existence of PE is fact-specific issue, to be decided on year-to-year basis

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-62-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Viacom 18 not liable for TDS on transponder fee, relies on Neo Sports ruling

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-66-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Allows depreciation on goodwill acquired in amalgamation, follows Smifs Securities

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-65-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Sec.43CA not invocable where allotment letters, payments received before Mar'13

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-63-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Holds PAN, operative bank account & TDS compliance sufficient to establish genuineness of sub-contractors

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-68-ITAT-2022(Ind)

Income tax Appellate Tribunal ITAT: Remits matter for examining requirement for furnishing two ITRs by entities involved in business reorganisation

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-69-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Exemption u/s 54B allowable, despite not claimed in ITR, as Revenue found transferred land to be within municipal limits

Feb 12, 2022

In Favour of : Assessee
Citation Number : TS-67-ITAT-2022(RAI)

Weekly Digest #5 30 Jan to 05 Feb 2022 5 Rulings

Income tax Appellate Tribunal ITAT: Allows Ambuja Cements' appeal against revision order disallowing ESOP expenditure

Feb 05, 2022

In Favour of : Assessee
Citation Number : TS-52-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Construction cost allowable in year of actual addition to project, where bills raised subsequently

Feb 05, 2022

In Favour of : Assessee
Citation Number : TS-53-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sets aside Standard Chartered Bank’s reassessment; Sec.50C invocable only in year of transfer

Feb 05, 2022

In Favour of : Assessee
Citation Number : TS-51-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Expenditure for defending promoters in telecom licence case, to protect Assessee’s interests, allowable u/s 37(1)

Feb 05, 2022

In Favour of : Assessee
Citation Number : TS-54-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition u/s 56(2)(viib), holds Revenue not entitled to change share valuation method adopted by Assessee

Feb 05, 2022

In Favour of : Assessee
Citation Number : TS-55-ITAT-2022(Bang)

Weekly Digest #4 23 Jan to 29 Jan 2022 7 Rulings

High Court HC: Quashes notice u/s 148 issued to Lintas since based on material already available on record

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-44-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Holds TDS proceedings against Mphasis time barred; Relies on Delhi HC NHK Japan ruling

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-37-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Rejects CIT(A)'s order holding Mumbai-based Co-operative Housing Society ineligible for deduction u/s 80P

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-40-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Quashes revisionary order for taxing cash deposits in super senior citizens' account for meeting routine personal expenses

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-42-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Quashes revision where limited scrutiny broadly covered all aspects of assessment

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-49-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Alternative differential addition u/s 68 not tenable once addition made u/s 56(2)(viib) stands deleted

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-39-ITAT-2022(HYD)

Income tax Appellate Tribunal ITAT: Striking-off of lender company in later AY does not render loan taxable u/s 56(2)(vi)

Jan 29, 2022

In Favour of : Assessee
Citation Number : TS-50-ITAT-2022(HYD)

Weekly Digest #3 16 Jan to 22 Jan 2022 8 Rulings

High Court HC: Quashes reassessment notice for change of opinion in Bennett Property's case

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-28-HC-2022(BOM)

Income tax Appellate Tribunal ITAT: Deprecates Assessee’s casual use of 'arbitrary' & 'whimsical' against CIT(A)’s order

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-22-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Receipt of final instalment not relevant for determining period of ‘one year before’ u/s 54F, upholds exemption

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-30-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Residential property subsequently converted for commercial use eligible for exemption u/s 54F

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-21-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds taxability of remuneration from coaching institute as business income, allows 50% as expenditure

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-25-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition u/s 68 for cash deposits linked to sale of properties, unsubstantiated by sale deed

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-1192-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allows carry forward of earlier year’s deficit, holds Explanation 2 to Sec.10(23C) applicable from AY 2022-23

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-34-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Reassessment beyond four years sans tangible material invalid; Finds computation of deduction u/s 10AA incorrect

Jan 22, 2022

In Favour of : Assessee
Citation Number : TS-35-ITAT-2022(Mum)

Weekly Digest #2 08 Jan to 15 Jan 2022 10 Rulings

High Court HC: Quashes Westside's reassessment notice, basis change of opinion, seeking to disallow Store Launching Expenses

Jan 15, 2022

In Favour of : Assessee
Citation Number : TS-13-HC-2022(BOM)

High Court HC: Remits matter to DRP as assessment finalised by miscalculating 30 days for filing objections u/s 144C(2)

Jan 15, 2022

In Favour of : Assessee
Citation Number : TS-1185-HC-2021(KAR)

Income tax Appellate Tribunal ITAT: Software found dysfunctional & written off on CBI investigation, not eligible for depreciation

Jan 15, 2022

In Favour of : Revenue
Citation Number : TS-1187-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: SC ruling in Chennai Properties inapplicable to individual offering income from house property in earlier years

Jan 15, 2022

In Favour of : Both, Partially
Citation Number : TS-1179-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Restricts addition over difference in stock for HP India to the extent substantiated by evidence

Jan 15, 2022

In Favour of : Both, Partially
Citation Number : TS-15-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Allows adoption of Municipal Value for determination of ALV under Sec.23

Jan 15, 2022

In Favour of : Assessee
Citation Number : TS-1188-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allows expenditure incurred on ESOP u/s 37(1), follows Biocon ruling

Jan 15, 2022

In Favour of : Assessee
Citation Number : TS-17-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Receipt through banking channels, confirmation insufficient to establish genuineness u/s 68; Follows Leena Power ruling

Jan 15, 2022

In Favour of : Revenue
Citation Number : TS-1184-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Non-agricultural land, sans any development expenditure, not a trading asset

Jan 14, 2022

In Favour of : Assessee
Citation Number : TS-1190-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Non-adherence to Sec.144C procedure, incurable defect; Assessment order violative of Sec.144C not revisable

Jan 14, 2022

In Favour of : Assessee
Citation Number : TS-18-ITAT-2022(PAT)

Weekly Digest #1 01 Jan to 07 Jan 2022 8 Rulings

High Court HC: Delayed & unadjudicated revision application constitutes pendency, holds Assessee eligible under VsV Act

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-03-HC-2022(BOM)

High Court HC: Quashes final assessment order passed due to inadvertent error in ITBA; Directs for fresh draft order

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-1175-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: CIT(A) not empowered to pass directions to AO in an 'infructuous' appeal

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-1176-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Allows Canara Bank’s claim for bad debts of Rs.1258.47 Cr.; Shortfall u/s 36(1)(viia) not adjustable in subsequent year

Jan 08, 2022

In Favour of : Both, Partially
Citation Number : TS-1174-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Rejects existence of Mitsui’s DAPE in India and consequent profit attribution

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-04-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Loan to sister concern, referred to BIFR, deductible as bad debt u/s 36(1)(vii)

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-1171-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Quashes revisionary order on issues not covered by limited scrutiny

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-1170-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Form 10 sent by speed post within limitation period acceptable; Remits matter over claim of exemption u/s 10(23C)(vi)

Jan 08, 2022

In Favour of : Assessee
Citation Number : TS-1173-ITAT-2021(DDN)

Weekly Digest #52 26 Dec to 31 Dec 2021 6 Rulings

High Court HC: Affirms law of prior sanction u/s 151 for reassessment notice issued virtually

Jan 01, 2022

In Favour of : Assessee
Citation Number : TS-1156-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Allows P&G expenditure incurred on distribution of free samples to medical practitioners

Jan 01, 2022

In Favour of : Assessee
Citation Number : TS-1161-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Interest on borrowing related to advance that benefitted Director personally, not allowable

Jan 01, 2022

In Favour of : Revenue
Citation Number : TS-1160-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Business development expenses to non-resident entities allowable on principles of commercial expediency

Jan 01, 2022

In Favour of : Assessee
Citation Number : TS-1158-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Restriction on CSR expenditure u/s 37 inapplicable where deduction allowable u/s 80G

Jan 01, 2022

In Favour of : Assessee
Citation Number : TS-1157-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Interest accrued on ZCCBs deductible expenditure, TDS applicable on redemption

Jan 01, 2022

In Favour of : Assessee
Citation Number : TS-1162-ITAT-2021(Mum)

Weekly Digest #51 19 Dec to 25 Dec 2021 9 Rulings

High Court HC: Quashes assessment order against Shell India; Holds procedure u/s 144C (1) mandatory

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1149-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Sec.53A of TPA inapplicable to JDA granting permissive possession to developer

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1148-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Allows exemption to Trust, delayed submission of Form 10B attributable to delayed registration

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1141-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Upholds revision against assessment order over taxability of share-premium u/s 56(2)(viib) unsubstantiated by valuation report

Dec 25, 2021

In Favour of : Revenue
Citation Number : TS-1146-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Conversion of advances receivable from sister concern to debentures, not diversion of funds

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1143-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition relying on CBDT Instruction No. 1916, permits presumption for 500 grams of jewellery for married woman

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1144-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Loans squared-off by adjustment entries is administrative convenience, reasonable cause against penalty provisions

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1139-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Allows Bank of India's excess contribution to superannuation fund as admissible operative expenditure u/s 37(1)

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1147-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Grants time to furnish evidence to establish relief u/s 40(a)(ia) as delay attributable to public holidays

Dec 25, 2021

In Favour of : Assessee
Citation Number : TS-1150-ITAT-2021(DDN)