Direct tax Weekly Digest

Weekly Digest #4 21 Jan to 27 Jan 2024 5 Rulings

High Court HC: Furnishing Form 10B after ITR-filing but before assessment entitles Trust for Sec.11 exemption

Jan 27, 2024

In Favour of : Assessee
Citation Number : TS-47-HC-2024(GUJ)

High Court HC: Mining Co.'s contribution to Bellary Action Task Force allowable for ‘commercial expediency'

Jan 27, 2024

In Favour of : Assessee
Citation Number : TS-825-HC-2023(KAR)

Income tax Appellate Tribunal ITAT: Deletes addition of alleged inflated fuel-cost basis CESTAT & Electricity Commission order

Jan 27, 2024

In Favour of : Assessee
Citation Number : TS-46-ITAT-2024(Mum)

Income tax Appellate Tribunal ITAT: Deletes Sec. 68 addition on gift from NRI through NRE account since onus discharged

Jan 27, 2024

In Favour of : Assessee
Citation Number : TS-35-ITAT-2024(SUR)

Income tax Appellate Tribunal ITAT: Condones 2900 days appeal-filing delay over non-service of Sec.143(1) intimation

Jan 27, 2024

In Favour of : Assessee
Citation Number : TS-34-ITAT-2024(Ahd)

Weekly Digest #3 14 Jan to 20 Jan 2024 5 Rulings

High Court HC: NR eligible for refund-interest as CPC delayed in enabling SWIFT code & IBAN

Jan 20, 2024

In Favour of : Assessee
Citation Number : TS-29-HC-2024(MAD)

High Court HC: Reiterates liberal approach on 'genuine hardship'; Permits Assessee to rectify name in ITR

Jan 20, 2024

In Favour of : Assessee
Citation Number : TS-823-HC-2023(BOM)

Income tax Appellate Tribunal ITAT: Quashes revision over capital gains exemption under Mauritius DTAA for pre-2017 share acquisition

Jan 20, 2024

In Favour of : Assessee
Citation Number : TS-24-ITAT-2024(Mum)

Income tax Appellate Tribunal ITAT: Quashes reassessment of Rs.600 Cr. Cross Currency Swap loss as Assessee made full & true disclosure

Jan 20, 2024

In Favour of : Assessee
Citation Number : TS-18-ITAT-2024(Mum)

Income tax Appellate Tribunal ITAT: IIT Delhi not TDS-defaulter as concession on employees' accommodation not established

Jan 20, 2024

In Favour of : Assessee
Citation Number : TS-20-ITAT-2024(DEL)

Weekly Digest #2 07 Jan to 13 Jan 2024 5 Rulings

High Court HC: Absent new finding, quashes revision of Sec.80-IA deduction allowed to Telecom Co.

Jan 10, 2024

In Favour of : Assessee
Citation Number : TS-12-HC-2024(DEL)

High Court HC: Dismisses Revenue’s appeal since fact-finding w.r.t. 'Sec.80-IC undertaking' not challenged as perverse

Jan 13, 2024

In Favour of : Assessee
Citation Number : TS-15-HC-2024(DEL)

Income tax Appellate Tribunal ITAT: Deletes Rs.3,200 Cr. addition of nuclear power related offshore supply; Follows consistency principle

Jan 13, 2024

In Favour of : Assessee
Citation Number : TS-818-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Sec.2(15) covers Indian Chamber of Commerce's seminars & conferences; Explains SC's AUDA judgment

Jan 13, 2024

In Favour of : Assessee
Citation Number : TS-793-ITAT-2023(Kol)

Income tax Appellate Tribunal ITAT: Denies Sec.69B applicability on difference in stock valuation revealed during survey

Jan 13, 2024

In Favour of : Assessee
Citation Number : TS-810-ITAT-2023(CHNY)

Weekly Digest #1 01 Jan to 06 Jan 2024 6 Rulings

High Court HC: Income from sub-letting property 'business income' for Assessee in rental business

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-802-HC-2023(CAL)

High Court HC: ITR-filing delay condonable basis similarly situated persons' case; Directs refund with interest

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-807-HC-2023(GUJ)

Income tax Appellate Tribunal ITAT: Allows Vodafone depreciation on goodwill from business acquisition despite unclaimed in ITR

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-814-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Reiterates law on CIT(A)'s powers to enhance income vis-a-vis ESOP allowability

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-813-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Rejects plea of distinguishing Engineering Analysis judgment w.r.t. banking & finance industry software

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-04-ITAT-2024(DEL)

Income tax Appellate Tribunal ITAT: Once assessment order passed, DRP cannot issue directions; Quashes post-DRP order

Jan 06, 2024

In Favour of : Assessee
Citation Number : TS-808-ITAT-2023(Mum)

Weekly Digest #50 24 Dec to 31 Dec 2023 5 Rulings

High Court HC: Sec.271E penalty unsustainable since based on wrong assumption of cash transaction

Jan 01, 2024

In Favour of : Assessee
Citation Number : TS-797-HC-2023(MAD)

High Court HC: Absent separate cash-payment vouchers, confirms Sec.40A(3) disallowance; Rejects 'perversity' plea

Jan 01, 2024

In Favour of : Revenue
Citation Number : TS-788-HC-2023(PAT)

High Court HC: Quashes reassessment for being inspired from review by new officer

Jan 01, 2024

In Favour of : Assessee
Citation Number : TS-768-HC-2023(MAD)

Income tax Appellate Tribunal ITAT: Deletes Sec.68 addition since third party's cross-examination not allowed & Assessee discharged onus

Jan 01, 2024

In Favour of : Assessee
Citation Number : TS-803-ITAT-2023(Kol)

Income tax Appellate Tribunal ITAT: Corporate expenditure allocation between STPI & non-STPI units acceptable due to consistency

Jan 01, 2024

In Favour of : Assessee
Citation Number : TS-774-ITAT-2023(Mum)

Weekly Digest #49 17 Dec to 23 Dec 2023 5 Rulings

High Court HC: Directs jurisdictional officer on Assessee’s complaint regarding PAN misuse & necessary action

Dec 23, 2023

In Favour of : Assessee
Citation Number : TS-782-HC-2023(MAD)

High Court HC: Quashes prosecution over delayed ITR-filing since filed within AY; Applies Sec.276CC-proviso

Dec 23, 2023

In Favour of : Assessee
Citation Number : TS-780-HC-2023(MAD)

Income tax Appellate Tribunal ITAT: Allows income accumulation to Trust since aligned with its specific object

Dec 23, 2023

In Favour of : Assessee
Citation Number : TS-785-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Trust, filing Form 10B after ITR but before assessment, eligible for Sec.11 exemption

Dec 23, 2023

In Favour of : Assessee
Citation Number : TS-769-ITAT-2023(CHNY)

Income tax Appellate Tribunal ITAT: 'Date of service' not 'date of order' relevant for appeal-filing limitation before NFAC

Dec 23, 2023

In Favour of : Assessee
Citation Number : TS-778-ITAT-2023(PUN)

Weekly Digest #48 10 Dec to 16 Dec 2023 4 Rulings

High Court HC: Grants stay as 20% demand adjusted against outstanding refund; Directs further refund

Dec 16, 2023

In Favour of : Assessee
Citation Number : TS-766-HC-2023(DEL)

High Court HC: Absent question of perversity, dismisses Revenue's appeal on Sec.69A addition

Dec 16, 2023

In Favour of : Assessee
Citation Number : TS-756-HC-2023(DEL)

High Court HC: Reiterates law on revisionary powers over AO's inquiry on alleged unexplained cash deposits

Dec 16, 2023

In Favour of : Revenue
Citation Number : TS-728-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Confirms disallowance subject to HC judgment on identical question of law

Dec 16, 2023

In Favour of : Both, Partially
Citation Number : TS-759-ITAT-2023(Mum)

Weekly Digest #47 03 Dec to 09 Dec 2023 5 Rulings

High Court HC: Dismisses Revenue's appeal absent question of perversity on Rs.100 Cr. loss from receivables-sale

Dec 09, 2023

In Favour of : Assessee
Citation Number : TS-740-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Deletes Sec.68 addition on share premium from FDI as Assessee discharged onus

Dec 09, 2023

In Favour of : Assessee
Citation Number : TS-735-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Infosys ineligible for Sec.32AC depreciation; Rules on scope of Sec.10AA deduction

Dec 09, 2023

In Favour of : Revenue
Citation Number : TS-726-ITAT-2023(Bang)

Income tax Appellate Tribunal ITAT: Upholds revision based on audit objection for Sec.43B disallowance & unsubstantiated cash payments

Dec 09, 2023

In Favour of : Revenue
Citation Number : TS-727-ITAT-2023(Ind)

Income tax Appellate Tribunal ITAT: Deletes TDS-default penalty on foreign remittance basis bona fide belief of no taxability

Dec 09, 2023

In Favour of : Assessee
Citation Number : TS-737-ITAT-2023(JPR)

Weekly Digest #46 26 Nov to 02 Dec 2023 4 Rulings

High Court HC: Quashes reassessment on transfer of leasehold rights offered to tax in subsequent AY

Dec 02, 2023

In Favour of : Assessee
Citation Number : TS-720-HC-2023(BOM)

Income tax Appellate Tribunal ITAT: DIN-less DRP directions bad in law, quashes consequential assessment orders

Dec 02, 2023

In Favour of : Assessee
Citation Number : TS-711-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Rejects FTS taxability on intra-group management support services, ‘make available’ not satisfied

Dec 02, 2023

In Favour of : Assessee
Citation Number : TS-719-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: No 'royalty' on satellite transmission services provided from ship; Follows New Skies

Dec 02, 2023

In Favour of : Assessee
Citation Number : TS-708-ITAT-2023(DEL)

Weekly Digest #45 19 Nov to 25 Nov 2023 4 Rulings

High Court HC: Upholds Sec.148 notice issued by jurisdictional AO instead of NaFAC; Analyses CBDT OM

Nov 25, 2023

In Favour of : Revenue
Citation Number : TS-693-HC-2023(CAL)

High Court HC: Condones 79 days appeal-filing delay attributable to pursuing review before ITAT

Nov 25, 2023

In Favour of : Assessee
Citation Number : TS-687-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: CIT(A) deleted Sec.56(2)(viib) addition without considering Revenue's factual objections; Remands matter

Nov 25, 2023

In Favour of : Revenue
Citation Number : TS-702-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Sec.43B applicable on service tax not paid to Govt.; Rejects 'not charged to P&L A/c' plea

Nov 25, 2023

In Favour of : Revenue
Citation Number : TS-691-ITAT-2023(Bang)

Weekly Digest #44 12 Nov to 18 Nov 2023 5 Rulings

High Court HC: ITAT order rejecting MA over applying 'penny stock' tax-effect Circular, not appealable

Nov 18, 2023

In Favour of : Assessee
Citation Number : TS-680-HC-2023(ORI)

High Court HC: Sales tax subsidy under West Bengal Incentive Scheme, non-taxable capital receipt

Nov 18, 2023

In Favour of : Assessee
Citation Number : TS-683-HC-2023(CAL)

Income tax Appellate Tribunal ITAT: CBDT's DIN Circular 'self-contained code' & mandatory; Quashes DIN-less SCN & revisionary order

Nov 18, 2023

In Favour of : Assessee
Citation Number : TS-671-ITAT-2023(Ahd)

Income tax Appellate Tribunal ITAT: Quashes assessment order over DIN-less DRP directions; CBDT Circular has statutory force

Nov 18, 2023

In Favour of : Assessee
Citation Number : TS-670-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Corpus specific voluntary contribution, ‘capital receipt’, non-taxable regardless of trust's registration

Nov 18, 2023

In Favour of : Assessee
Citation Number : TS-664-ITAT-2023(DEL)

Weekly Digest #43 29 Oct to 04 Nov 2023 5 Rulings

High Court HC: Quashes reassessment proceedings based on allegation in concluded reassessment; Rejects Ashish Agarwal plea

Nov 04, 2023

In Favour of : Assessee
Citation Number : TS-653-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Royalty taxable under Swiss DTAA on 'receipt basis', regardless of Form 3CEB disclosure

Nov 04, 2023

In Favour of : Assessee
Citation Number : TS-646-ITAT-2023(Bang)

Income tax Appellate Tribunal ITAT: Sec.115BBE inapplicable on income voluntarily surrendered, left undoubted by Revenue; Quashes rectification

Nov 04, 2023

In Favour of : Assessee
Citation Number : TS-642-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Rules on taxability of app-development, web-hosting services, marketing & sales support in UAE DTAA

Nov 04, 2023

In Favour of : Assessee
Citation Number : TS-631-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Technical meets, workshops & seminars fall qualify as 'charitable purpose'; Remands to apply AUDA ruling

Nov 04, 2023

In Favour of : Assessee
Citation Number : TS-628-ITAT-2023(CHNY)

Weekly Digest #42 22 Oct to 28 Oct 2023 5 Rulings

High Court HC: Quashes reassessment as contents of TEP filed by senior Revenue official taken as gospel truth

Oct 28, 2023

In Favour of : Assessee
Citation Number : TS-632-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Recalls order on non-consideration of Jurisdictional HC ruling over Sec.68 addition

Oct 28, 2023

In Favour of : Assessee
Citation Number : TS-634-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Order passed with demand & penalty notice culminates assessment, subsequent orders non est

Oct 28, 2023

In Favour of : Assessee
Citation Number : TS-637-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Rules on Sec.80-IB deduction w.r.t subsequent years, approval-date & proportionate allowance

Oct 28, 2023

In Favour of : Assessee
Citation Number : TS-623-ITAT-2023(Ahd)

Income tax Appellate Tribunal ITAT: Rules on depreciation on intangible assets, bad debt claim & impairment loss allowability

Oct 28, 2023

In Favour of : Both, Partially
Citation Number : TS-630-ITAT-2023(Mum)

Weekly Digest #41 15 Oct to 21 Oct 2023 4 Rulings

High Court HC: Upholds Sec.35(2AB) deduction as delay in Form-3CL not attributable to Assessee

Oct 21, 2023

In Favour of : Assessee
Citation Number : TS-612-HC-2023(GUJ)

Income tax Appellate Tribunal ITAT: Assessee discharged Sec.68 onus, Revenue failed to examine; Deletes addition

Oct 21, 2023

In Favour of : Assessee
Citation Number : TS-618-ITAT-2023(Ahd)

Income tax Appellate Tribunal ITAT: Recalls order holding 'IT Infrastructure use' taxable as industrial royalty in India-Belgium DTAA

Oct 21, 2023

In Favour of : Assessee
Citation Number : TS-621-ITAT-2023(PUN)

Income tax Appellate Tribunal ITAT: Allows revaluation loss on inter-company & LC payables due to forex fluctuation

Oct 21, 2023

In Favour of : Both, Partially
Citation Number : TS-607-ITAT-2023(Mum)

Weekly Digest #40 08 Oct to 14 Oct 2023 5 Rulings

High Court HC: Assessee suddenly woke up from slumber; Over 1000 days' appeal-filing delay not condonable

Oct 14, 2023

In Favour of : Revenue
Citation Number : TS-600-HC-2023(MAD)

High Court HC: Increasing interest is Exchequer's loss, demands reasons behind delay while granting refund

Oct 14, 2023

In Favour of : Assessee
Citation Number : TS-601-HC-2023(DEL)

High Court HC: Dismisses writ against reassessment proceedings, relies on SC's Anshul Jain Order

Oct 14, 2023

In Favour of : Revenue
Citation Number : TS-602-HC-2023(ALL)

High Court HC: Rules on limitation period for assessment orders in light of TOLA Notifications

Oct 14, 2023

In Favour of : Both, Partially
Citation Number : TS-599-HC-2023(MAD)

Income tax Appellate Tribunal ITAT: Subsidy via VAT refund for setup or expansion of manufacturing facility 'capital receipt'

Oct 14, 2023

In Favour of : Both, Partially
Citation Number : TS-596-ITAT-2023(CHNY)

Weekly Digest #39 01 Oct to 07 Oct 2023 4 Rulings

High Court HC: Working capital loan waiver, not taxable under Sec.28(iv); Follows SC ruling in Mahindra

Oct 07, 2023

In Favour of : Assessee
Citation Number : TS-584-HC-2023(KAR)

High Court HC: Reason to believe based on erroneous fact of non-filing ITR; Quashes reassessment notice

Oct 07, 2023

In Favour of : Assessee
Citation Number : TS-553-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Rules on Bank's TDS liability under Sec.194A where Form 15G/H filed by recipient

Oct 07, 2023

In Favour of : Assessee
Citation Number : TS-582-ITAT-2023(NAG)

Income tax Appellate Tribunal ITAT: UK Co.’s income from telecom roaming services not taxable; Rejects process royalty plea

Oct 07, 2023

In Favour of : Assessee
Citation Number : TS-580-ITAT-2023(Mum)

Weekly Digest #38 24 Sep to 30 Sep 2023 5 Rulings

High Court HC: Employee’s PF contribution allowable since deposited immediately after national holiday

Sep 30, 2023

In Favour of : Assessee
Citation Number : TS-565-HC-2023(DEL)

High Court HC: Holds reassessment notice valid, not time-barred under Sec.149(1); Dismisses review petition

Sep 30, 2023

In Favour of : Revenue
Citation Number : TS-571-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Rules on treatment of variation in real-estate value & expenditures, post-occupation certificate

Sep 30, 2023

In Favour of : Both, Partially
Citation Number : TS-522-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Rules for TCS on advertisement, brand subscription, 10AA deduction, FTC & others

Sep 30, 2023

In Favour of : Both, Partially
Citation Number : TS-563-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Quashes revision over taxability of receipts as non-compete fee, finds Sec.28(va) inapplicable

Sep 30, 2023

In Favour of : Assessee
Citation Number : TS-570-ITAT-2023(CHNY)

Weekly Digest #37 17 Sep to 23 Sep 2023 5 Rulings

High Court HC: Assessee eligible for VsV settlement despite pending prosecution; Follows Macrotech Developers ruling

Sep 23, 2023

In Favour of : Assessee
Citation Number : TS-552-HC-2023(BOM)

High Court HC: Directs CBDT to decide delay condonation application in filing Form 10-IC

Sep 23, 2023

In Favour of : Assessee
Citation Number : TS-551-HC-2023(CAL)

High Court HC: CIT(A) erred by directing AO for fresh adjudication after deciding in Assessee's favour

Sep 23, 2023

In Favour of : Assessee
Citation Number : TS-537-HC-2023(CAL)

Income tax Appellate Tribunal ITAT: Sec.44ADA inapplicable where Assessee does not satisfy 'notified qualifications' clause

Sep 23, 2023

In Favour of : Assessee
Citation Number : TS-550-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Addition on protective basis cannot survive as substantive addition time-barred

Sep 23, 2023

In Favour of : Assessee
Citation Number : TS-543-ITAT-2023(DEL)

Weekly Digest #36 10 Sep to 16 Sep 2023 5 Rulings

High Court HC: Quashes TDS proceedings where recipient not liable to tax; Reaffirms Mahindra ruling

Sep 16, 2023

In Favour of : Assessee
Citation Number : TS-532-HC-2023(BOM)

Income tax Appellate Tribunal ITAT: Manual assessment order sans DIN ‘non est’; Subsequent DIN intimation violates CBDT Circular

Sep 16, 2023

In Favour of : Assessee
Citation Number : TS-530-ITAT-2023(Kol)

Income tax Appellate Tribunal ITAT: Notifying hearing date on portal not ‘effective service’ under Sec.282; Directs fresh hearing

Sep 16, 2023

In Favour of : Assessee
Citation Number : TS-524-ITAT-2023(CHANDI)

Income tax Appellate Tribunal ITAT: Bonus shares mere capitalisation of reserves, not wealth-altering for shareholder; Sec.56(2)(vii) inapplicable

Sep 16, 2023

In Favour of : Assessee
Citation Number : TS-527-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: TDS on ESOP provision crystallises with exercise of option not when granted

Sep 16, 2023

In Favour of : Assessee
Citation Number : TS-499-ITAT-2023(Mum)

Weekly Digest #35 03 Sep to 09 Sep 2023 5 Rulings

High Court HC: Dismisses writ challenging rejection of Sec.197 application for alternative statutory remedy

Sep 09, 2023

In Favour of : Revenue
Citation Number : TS-504-HC-2023(P & H)

Income tax Appellate Tribunal ITAT: Rental income from land leased out for agricultural purpose qualifies as agriculture income

Sep 09, 2023

In Favour of : Assessee
Citation Number : TS-515-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Sec.80P deduction allowable through belated return as FA 2021 amendment to Sec.143(1)(a)(v) prospective

Sep 09, 2023

In Favour of : Assessee
Citation Number : TS-512-ITAT-2023(PAN)

Income tax Appellate Tribunal ITAT: Restores issue of Nil TDS on 'technical support services' for Airport Authority of India

Sep 09, 2023

In Favour of : Assessee
Citation Number : TS-507-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Bombardier’s offshore supplies non-taxable; Follows consistency & group concern's ruling

Sep 09, 2023

In Favour of : Assessee
Citation Number : TS-517-ITAT-2023(DEL)