Direct tax Weekly Digest

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)

Weekly Digest #50 12 Dec to 18 Dec 2021 7 Rulings

High Court HC: Revenue’s delay in filing appeal prejudiced Assessee’s right to opt for VsV; Rejects condonation application

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1124-HC-2021(CAL)

Income tax Appellate Tribunal ITAT: Allows irrecoverable advance as business loss since Assessee took measures under NI Act

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1122-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Infrastructure support fee received by mall owners, business income; Upholds bifurcation as rental & business income

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1115-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: IPO expenses of PC Jewellers attributable to proceeds utilised for working capital, deductible u/s 37(1); Balance allowable u/s 35D

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1119-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Compensatory payment towards environmental damages by mining firm, deductible u/s 37(1)

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1120-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Bifurcation of composite rent for lowering property tax, no bar for deduction u/s 24(a)

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1121-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Refund of sales tax as subsidy, non-taxable capital receipt; Applies purpose test

Dec 18, 2021

In Favour of : Assessee
Citation Number : TS-1113-ITAT-2021(Mum)

Weekly Digest #49 05 Dec to 11 Dec 2021 5 Rulings

Income tax Appellate Tribunal ITAT: Offshore maintenance, support services by GE Energy to PGCIL not taxable as FIS

Dec 11, 2021

In Favour of : Assessee
Citation Number : TS-1103-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Expenditure incurred on routine activities related to main activity of Infosys Science Foundation allowable from accumulation u/s 11(2)

Dec 11, 2021

In Favour of : Assessee
Citation Number : TS-1088-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Income from sale of TDR not isolable from obligation to complete project; Remands appeal

Dec 11, 2021

In Favour of : Assessee
Citation Number : TS-1096-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Depreciation on acquired assets not disallowable under sixth proviso to Sec.32(1) on transactions with unrelated parties

Dec 11, 2021

In Favour of : Both, Partially
Citation Number : TS-1097-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Penalty u/s 271AAB mandatory, not subject to reasonable cause plea u/s 273B

Dec 11, 2021

In Favour of : Revenue
Citation Number : TS-1093-ITAT-2021(CHNY)

Weekly Digest #48 27 Nov to 04 Dec 2021 5 Rulings

Income tax Appellate Tribunal ITAT: Deletes enhancement of interest disallowance by CIT(A) against interest-free loans to subsidiaries, not considered by AO

Dec 04, 2021

In Favour of : Assessee
Citation Number : TS-1080-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Addition u/s 69A on excessive stock in books cannot exceed profit element

Dec 04, 2021

In Favour of : Assessee
Citation Number : TS-1083-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Notice u/s 129 after transfer of records does not validate reassessment absent notice u/s 148 by jurisdictional AO

Dec 04, 2021

In Favour of : Assessee
Citation Number : TS-1086-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Interest on export incentive refund compensatory, not penal, allowable u/s 37

Dec 04, 2021

In Favour of : Assessee
Citation Number : TS-1082-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Remands ITOCHU Corp's appeal for verification of various communications to determine DAPE

Dec 04, 2021

In Favour of : None/NA
Citation Number : TS-1084-ITAT-2021(DEL)

Weekly Digest #47 21 Nov to 26 Nov 2021 5 Rulings

High Court HC: Imposes cost, criticizes Revenue’s lackadaisical approach on faceless assessment

Nov 26, 2021

In Favour of : Assessee
Citation Number : TS-1069-HC-2021(BOM)

High Court HC: Quashes faceless assessment order for violation of principles of natural justice

Nov 26, 2021

In Favour of : Assessee
Citation Number : TS-1065-HC-2021(KAR)

High Court HC: Sets aside reassessment over dispute on date of approval by Addl. CIT

Nov 26, 2021

In Favour of : Assessee
Citation Number : TS-1066-HC-2021(BOM)

High Court HC: Reopening of assessment basis change of opinion over nature of expenditure & regulatory bar of MCI, invalid

Nov 26, 2021

In Favour of : Assessee
Citation Number : TS-1067-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Allows interest on loans to sister concerns for meeting capex on principle of commercial expediency

Nov 26, 2021

In Favour of : Assessee
Citation Number : TS-1063-ITAT-2021(DEL)

Weekly Digest #46 13 Nov to 20 Nov 2021 8 Rulings

High Court HC: Dismisses writ petition, holds Assessee’s non-response to Revenue's notices, incomplete pleadings deprivative of writ remedy

Nov 20, 2021

In Favour of : Revenue
Citation Number : TS-1045-HC-2021(KER)

High Court HC: Sanction of multiple projects on single plot of one acre or more sufficient for deduction u/s 80-IB

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1050-HC-2021(KAR)

High Court HC: Quashes reassessment notice issued to Asian Paints over failure to comply with twin conditions u/s 147

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1044-HC-2021(BOM)

High Court HC: Issue raised and responded during assessment proceeeding but not part of assessment order, not amenable to reassessment

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1046-HC-2021(BOM)

High Court HC: Time-barred notice u/s 143(2) akin to absence of notice, incurable u/s 292BB

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1048-HC-2021(KAR)

Income tax Appellate Tribunal ITAT: Mutual funds with growth option generate capital gains, not exempt income, to be excluded for disallowance u/r 8D(2)(ii)

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1043-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Assessment order not complaint with Sec.144C, not erroneous but non est; Not revisable u/s 263

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1054-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Revision of reassessment order over eligibility for deduction, invalid, as reassessment dealt only with quantum of deduction

Nov 20, 2021

In Favour of : Assessee
Citation Number : TS-1049-ITAT-2021(DEL)

Weekly Digest #45 04 Nov to 12 Nov 2021 5 Rulings

High Court HC: SCN calling for details not akin to draft assessment order, quashes faceless order non-compliant with Sec.144B

Nov 12, 2021

In Favour of : Assessee
Citation Number : TS-1036-HC-2021(BOM)

High Court HC: Sets aside assessment order passed without considering Assessee’s reply; Directs Revenue to redo assessment

Nov 12, 2021

In Favour of : Assessee
Citation Number : TS-1038-HC-2021(MAD)

Income tax Appellate Tribunal ITAT: Limited scrutiny assessment cannot be revised u/s 263 beyond scope of scrutiny

Nov 12, 2021

In Favour of : Assessee
Citation Number : TS-1029-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Deletes additions for share application money u/s 68, factually distinguishes SC ruling in NRA Iron & Steel

Nov 12, 2021

In Favour of : Assessee
Citation Number : TS-993-ITAT-2021(RAI)

Income tax Appellate Tribunal ITAT: Holds educational institute eligible for exemption u/s 11 based on registration of its parent society

Nov 12, 2021

In Favour of : Assessee
Citation Number : TS-1037-ITAT-2021(LKW)

Weekly Digest #44 31 Oct to 03 Nov 2021 5 Rulings

High Court HC: Expenditure on foreign travel arrangements for insurance agents not liable for TDS u/s 194D

Nov 03, 2021

In Favour of : Assessee
Citation Number : TS-1016-HC-2021(BOM)

High Court HC: Dismisses Revenue’s writ against ITAT order over low tax-effect Circular, cites cascading effect

Nov 03, 2021

In Favour of : Assessee
Citation Number : TS-1021-HC-2021(BOM)

High Court HC: SRL not liable for TDS u/s 194H on sum retained by sample collection centres as commission

Nov 03, 2021

In Favour of : Assessee
Citation Number : TS-1022-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Allows depreciation at 60% on computer software, whether canned or uncanned

Nov 03, 2021

In Favour of : Assessee
Citation Number : TS-1020-ITAT-2021(CHNY)

Income tax Appellate Tribunal ITAT: Taxability of capital gains for charitable trust governed by Sec. 11(1A), Sec. 50C inapplicable

Nov 03, 2021

In Favour of : Assessee
Citation Number : TS-1023-ITAT-2021(DEL)

Weekly Digest #43 24 Oct to 30 Oct 2021 10 Rulings

High Court HC: Withholding rate of 5% applicable on dividend receivable by Dutch Co., follows Concentrix ruling

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1008-HC-2021(DEL)

Income tax Appellate Tribunal ITAT: Stake money not ‘winnings’, Bangalore Turf Club not liable for TDS u/s 194BB & 194B

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-999-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: No penalty u/s 221 for non-payment of self-assessment tax due to financial constraints

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1000-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Inclusion of loss as ‘expenditure’ or ‘allowance’ u/s 115BBD debatable issue, not rectifiable u/s 154

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1002-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Accepts revenue recognition on execution of sale deed for real estate developer, AS-7 inapplicable

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1003-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: No obligation for TDS on LTC payments for circuitous domestic tour involving foreign travel

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-987-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Expenditure incurred in foreign currency not excludible for computation of ‘export turnover’ of Infosys BPM u/s 10AA

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1006-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Follows SC ruling in Mitsubishi Corp for interest u/s 234B in Ericsson's case; Follows HC ruling on PE issue

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1004-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allows McCann Ericsson’s claim for club membership, professional fees paid to Director

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1007-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Grants 50% ‘discounting’ adjustment for brokerage-services vis-a-vis independent & overseas clients; Follows earlier order

Oct 30, 2021

In Favour of : Assessee
Citation Number : TS-1010-ITAT-2021(Mum)

Weekly Digest #42 17 Oct to 23 Oct 2021 10 Rulings

High Court HC: Quashes Cognizant’s reassessment proceedings based on change of opinion

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-957-HC-2021(MAD)

High Court HC: Quashes reassessment proceedings against Kalpataru over insufficiency of reasons, follows recent ruling in Ananta Landmark

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-981-HC-2021(BOM)

High Court HC: Rejects HUF's appeal over addition of amounts held by Karta/Member as purely factual question

Oct 23, 2021

In Favour of : Revenue
Citation Number : TS-985-HC-2021(KAR)

Income tax Appellate Tribunal ITAT: Allows Canon India’s claim of FTC for entire sum withheld in Japan; Follows HCL Comnet ruling

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-986-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Property intended to be let out but lying vacant, eligible for vacancy allowance u/s 23(1)(c)

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-984-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Assessment order made with complete lack of jurisdiction, not revisable u/s 263

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-969-ITAT-2021(RAI)

Income tax Appellate Tribunal ITAT: Depreciation on assets kept 'ready to use' allowable during temporary suspension of business

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-973-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Subsequent approval by prescribed authority sufficient for claiming deduction u/s 35(2AB)

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-979-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Loss on investment in shares not meant for business expansion, capital in nature

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-980-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Surplus ploughed back for educational purposes, holds Assessee eligible for exemption u/s 11

Oct 23, 2021

In Favour of : Assessee
Citation Number : TS-971-ITAT-2021(DEL)

Weekly Digest #41 10 Oct to 16 Oct 2021 8 Rulings

High Court HC: Directs disposal of Perfetti's application u/s 264 within 8 weeks over TDS on dividend under MFN Clause in India-Netherlands DTAA

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-960-HC-2021(DEL)

High Court HC: Accepts ACIT’s explanation over incorrect affidavit, expects PCIT(ReFAC) to be more careful in future

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-961-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Technical knowledge, skill & knowhow not made available, services not taxable as FTS under India-Singapore DTAA

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-948-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Mauritian Shipping Co.'s non-exclusive service provider, not DAPE in India

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-951-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Existence of PE warrants TDS on project management fee as business profits, not FTS; Holds Juniper Hotels 'assessee-in-default'

Oct 16, 2021

In Favour of : Revenue
Citation Number : TS-954-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Assessment made u/s 153A for AY not falling under six years period, not curable mistake u/s 292B

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-956-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allotment of shares on rights issue does not attract anti-abuse provisions of Sec. 56(2)(vii)

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-950-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Borrower not liable for TDS on asset valuer's fee paid and later recovered by lending bank

Oct 16, 2021

In Favour of : Assessee
Citation Number : TS-955-ITAT-2021(Mum)

Weekly Digest #40 02 Oct to 09 Oct 2021 9 Rulings

High Court HC: Allows Assessee's writ against order u/s 264 over applicability of lower DDT rate under India-Mauritius DTAA

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-945-HC-2021(DEL)

High Court HC: Faceless assessment order passed in non-compliance with Sec. 144B, non est

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-943-HC-2021(BOM)

High Court HC: Allows Ananta Landmark's writ against reassessment proceedings; Holds reasons to believe insufficient

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-942-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Business Income of NetApp from sale of equipment not taxable sans PE in India under India-Netherlands DTAA

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-939-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Rules on taxability of various activities undertaken by POSCO Engineering

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-913-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Cipla's gifts, freebies to medical professionals, allowable expenditure; CBDT Circular No. 5/2012 prospective

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-938-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Diminution in value of shares held as closing stock not bogus loss, Section 68 inapplicable

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-930-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Holds J&K Bank not assessee-in-default u/s 201, delay in remitting TDS attributable to RBI

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-931-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Activities of Bombay Chamber of Commerce covered under amended Sec. 2(15), eligible for exemption

Oct 09, 2021

In Favour of : Assessee
Citation Number : TS-934-ITAT-2021(Mum)

Weekly Digest #39 25 Sep to 01 Oct 2021 10 Rulings

High Court HC: Appellate powers u/s 260A meant for debatable, unsettled issues; Dismisses Revenue's appeal

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-909-HC-2021(DEL)

High Court HC: Allows VsV application as delay in filing appeal condoned by ITAT

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-905-HC-2021(GUJ)

Income tax Appellate Tribunal ITAT: Software license-fee not taxable as Royalty, sans PE not taxable as business profits

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-908-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Rules on Trust's eligibility for exemption u/s 11, interplay of Sec.12A, 10(23C)(iv)

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-922-ITAT-2021(DEL)

High Court HC: Dismisses writ against notice u/s 148 issued pursuant to DDIT (Inv) report, AO's subjective satisfaction

Oct 02, 2021

In Favour of : Revenue
Citation Number : TS-921-HC-2021(GUJ)

Income tax Appellate Tribunal ITAT: Deletes addition of Rs.113 Cr. on Jaypee Capital u/s 56(2)(viia), CIT(A)'s detailed order not controverted

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-923-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Allows ESOP expenditure u/s 37(1) to Network 18; Follows Biocon ruling

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-918-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Holds maturity proceeds of fixed deposit as capital receipt not taxable for Trust

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-919-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Property acquired in shareholder's name for commercial expediency not taxable u/s 2(22)(e)

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-924-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Denies benefit of principle of consistency, directs Assessee to produce evidence w.r.t. specific direction for corpus donations

Oct 02, 2021

In Favour of : Assessee
Citation Number : TS-917-ITAT-2021(DEL)

Weekly Digest #38 18 Sep to 24 Sep 2021 9 Rulings

High Court HC: Holds appeal filed with condonation application 'pending' as per FAQ 59 of VsV Circular

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-900-HC-2021(BOM)

High Court HC: Holds assessment not compliant with Faceless Assessment Scheme, non est

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-899-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Royalty paid for use of trademark, revenue expenditure; Export commission not taxable as FTS

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-878-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Parking terminal for trucks integral part of highway project, eligible for deduction u/s 80-IA

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-877-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Technical lapse u/s 194C(7) does not warrant disallowance of transport expense u/s 40(a)(ia)

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-889-ITAT-2021(Ahd)

Income tax Appellate Tribunal ITAT: Farmhouse not a non-residential house unless proved, eligible for benefit u/s 54F

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-892-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Purchase agreement entered into in 2009, registered in 2014, not covered by amended provisions of Section 56(2)(vii)(b)

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-897-ITAT-2021(JPR)

Income tax Appellate Tribunal ITAT: Incentive for specific purpose of promotion of products, not taxable u/s 28(iv)

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-888-ITAT-2021(Kol)

Income tax Appellate Tribunal ITAT: Transfer of development rights in land does not attract Section 50C

Sep 24, 2021

In Favour of : Assessee
Citation Number : TS-890-ITAT-2021(PUN)

Weekly Digest #37 10 Sep to 17 Sep 2021 10 Rulings

Income tax Appellate Tribunal ITAT: Allows interest on borrowing invested as partner’s capital represented by under-construction flats received under arbitral award

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-860-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Receipts from sale of software not ‘Royalty', follows Engineering Analysis

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-861-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Deletes addition of money inherited by MF Hussain's son from sale of painting

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-866-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: On dismissal of revisionary order, consequential assessment order liable to be vacated

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-867-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Possession of property not pre-requisite for claim of interest u/s 24(b)

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-859-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Signing of JDA without willingness, not transfer as per 53A of TPA

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-857-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Upholds CIT(A)'s direction for reopening assessments for preceding years in terms of Sec. 150

Sep 17, 2021

In Favour of : Revenue
Citation Number : TS-862-ITAT-2021(HYD)

Income tax Appellate Tribunal ITAT: Assessment order consistent with several precedents on Sec.54F; Quashes revision

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-854-ITAT-2021(RAI)

Income tax Appellate Tribunal ITAT: Cash receipt on waiver of ECB loan, not taxable u/s 28(iv); Follows Mahindra & Mahindra

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-863-ITAT-2021(PUN)

Income tax Appellate Tribunal ITAT: Trust engaged in charitable with religious activities, eligible for approval u/s 80G

Sep 17, 2021

In Favour of : Assessee
Citation Number : TS-858-ITAT-2021(Ind)

Weekly Digest #36 04 Sep to 09 Sep 2021 6 Rulings

High Court HC: Sets aside faceless assessment order over insufficient response time, disregard of adjournment request

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-836-HC-2021(BOM)

Income tax Appellate Tribunal ITAT: Advertisement charges paid by Myntra to Facebook, not Royalty; Follows Urban Ladder ruling

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-833-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Donor's paltry income no reason to hold gift as bogus

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-848-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Preity Zinta not liable for penalty u/s 271(1)(c); Generic, omnibus notice bad in law

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-844-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Tolerance band of 10% u/s 50C retrospective, holds transaction not taxable u/s 56(2)(vii)(b)

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-845-ITAT-2021(Mum)

Income tax Appellate Tribunal ITAT: Short-withholding not default u/s 40(a)(ia); Bonafide mistake in TAR, not liable for addition u/s 69B

Sep 09, 2021

In Favour of : Assessee
Citation Number : TS-838-ITAT-2021(Mum)

Weekly Digest #35 28 Aug to 03 Sep 2021 9 Rulings

Income tax Appellate Tribunal ITAT: Stays demand of Rs.343 Cr. for Nestle India subject to 20% deposit, partly in security

Sep 03, 2021

In Favour of : Both, Partially
Citation Number : TS-823-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Grants Google LLC stay on demand, subject to 20% deposit, arising from taxing expats' salary as FTS

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-814-ITAT-2021(Bang)

Income tax Appellate Tribunal ITAT: Allows CSR expenditure incurred in line with Govt. directives; Expl. 2 to Sec. 37(1) prospective

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-815-ITAT-2021(DEL)

High Court HC: Grants unconditional stay to Sun Pharma against demand of over Rs.2000 Cr.

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-829-HC-2021(GUJ)

Income tax Appellate Tribunal ITAT: Loss to investor on bonus stripping, allowable for set off against LTCG

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-827-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Wife not liable to tax for investment made entirely by Husband

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-824-ITAT-2021(RAI)

Income tax Appellate Tribunal ITAT: Allows expenditure from undisclosed income declared during survey

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-825-ITAT-2021(SUR)

Income tax Appellate Tribunal ITAT: CPC cannot recompute capital gains, Trust compliant with section 11

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-830-ITAT-2021(DEL)

Income tax Appellate Tribunal ITAT: Extended period of investment u/s 54H applicable to enhanced compensation

Sep 03, 2021

In Favour of : Assessee
Citation Number : TS-831-ITAT-2021(DEL)