Direct tax Weekly Digest

Weekly Digest #14 09 Apr to 15 Apr 2023 5 Rulings

Income tax Appellate Tribunal ITAT: Reimbursement of Morgan Stanley's seconded employees' salary, not FIS; Accepts 'double-taxation' plea

Apr 15, 2023

In Favour of : Assessee
Citation Number : TS-179-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Day-to-day administrative support services by Jefferies to group entities, not FIS

Apr 15, 2023

In Favour of : Assessee
Citation Number : TS-175-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Rejects 'Force of Attraction', PE constitution in construction projects; Accepts taxability as FTS

Apr 15, 2023

In Favour of : Assessee
Citation Number : TS-181-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Mushrooms grown under controlled conditions constitutes ‘agricultural activity’, exemption from tax

Apr 15, 2023

In Favour of : Assessee
Citation Number : TS-177-ITAT-2023(CHNY)

Income tax Appellate Tribunal ITAT: Doctor not taxable for non-compete fee pre-2016 amendment of Sec.28(va)

Apr 15, 2023

In Favour of : Assessee
Citation Number : TS-180-ITAT-2023(DEL)

Weekly Digest #13 02 Apr to 08 Apr 2023 5 Rulings

High Court HC: Reassessment of non-existing entity unsustainable even on pre-amalgamation transaction

Apr 08, 2023

In Favour of : Assessee
Citation Number : TS-168-HC-2023(BOM)

High Court HC: No nexus between material & Revenue's belief on income escapement; Quashes Sec.148 notice

Apr 08, 2023

In Favour of : Assessee
Citation Number : TS-167-HC-2023(DEL)

High Court HC: Quashes LOC as tax proceedings concluded; Continuing LOC sans Originating Agency's review, untenable

Apr 08, 2023

In Favour of : Assessee
Citation Number : TS-150-HC-2023(DEL)

High Court HC: Specific provision prevails over general; Quashes prosecution in pre-1997 search case

Apr 08, 2023

In Favour of : Assessee
Citation Number : TS-134-HC-2023(GUJ)

Income tax Appellate Tribunal ITAT: Assessee cannot deviate from Apex Labs ruling; Directs Revenue to check expenditure details

Apr 08, 2023

In Favour of : Both, Partially
Citation Number : TS-169-ITAT-2023(Mum)

Weekly Digest #12 26 Mar to 01 Apr 2023 5 Rulings

High Court HC: Withholding OYO's refund over pending assessment 'unjust' & 'inequitable'; Directs de novo exercise

Apr 01, 2023

In Favour of : Both, Partially
Citation Number : TS-142-HC-2023(DEL)

High Court HC: Quashes provisional attachment in Benami proceedings, following SC ruling in Ganpati Dealcom

Apr 01, 2023

In Favour of : Assessee
Citation Number : TS-151-HC-2023(BOM)

High Court HC: TDS proceedings against Google India, time-barred; Follows Delhi HC Bharti Airtel ruling

Apr 01, 2023

In Favour of : Assessee
Citation Number : TS-155-HC-2023(KAR)

Income tax Appellate Tribunal ITAT: Services for installation & commissioning of dryer fans, not FTS; CBDT's MFN Circular, prospective

Apr 01, 2023

In Favour of : Assessee
Citation Number : TS-147-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Upholds wealth-tax liability where Assessee held 'urban land' as capital asset, not stock-in-trade

Apr 01, 2023

In Favour of : Revenue
Citation Number : TS-144-ITAT-2023(Bang)

Weekly Digest #11 19 Mar to 25 Mar 2023 5 Rulings

High Court HC: Revenue bound to hear Assessee for deciding application for immunity from penalty

Mar 25, 2023

In Favour of : Assessee
Citation Number : TS-132-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Quashes final assessment order for violation of Sec.144C(13) timeline

Mar 25, 2023

In Favour of : Assessee
Citation Number : TS-131-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Rules on JP Morgan's short-term capital loss set-off & debentures' cost of acquisition

Mar 25, 2023

In Favour of : Assessee
Citation Number : TS-136-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: CIT(E) not empowered to condone delay in filing application for Sec.10(23C)(vi) approval

Mar 25, 2023

In Favour of : Revenue
Citation Number : TS-137-ITAT-2023(RAI)

Income tax Appellate Tribunal ITAT: Dismisses appeal for non-impleadment of IRP; Remarks on demand modification, per Sec.156A

Mar 25, 2023

In Favour of : Assessee
Citation Number : TS-118-ITAT-2023(SUR)

Weekly Digest #10 12 Mar to 18 Mar 2023 5 Rulings

Income tax Appellate Tribunal ITAT: Receipts from provision of 'Microsoft' access to group entities, not royalty

Mar 18, 2023

In Favour of : Assessee
Citation Number : TS-123-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Assessment in disregard of DRP directions, on verification & examination of documents, jurisdictionally defective

Mar 18, 2023

In Favour of : Assessee
Citation Number : TS-112-ITAT-2023(Mum)

Income tax Appellate Tribunal ITAT: Sale of property held with commercial intent taxable as business income, Sec. 50C inapplicable

Mar 18, 2023

In Favour of : Assessee
Citation Number : TS-110-ITAT-2023(CHNY)

Income tax Appellate Tribunal ITAT: BPCL dealer covered by MoF Notification, addition of demonetised notes not sustainable

Mar 18, 2023

In Favour of : Assessee
Citation Number : TS-104-ITAT-2023(CHNY)

Income tax Appellate Tribunal ITAT: Expounds on scope of Sec.263 while partly upholding revision against Delhivery

Mar 18, 2023

In Favour of : Both, Partially
Citation Number : TS-124-ITAT-2023(DEL)

Weekly Digest #9 05 Mar to 11 Mar 2023 5 Rulings

High Court HC: Quashes demand on employee arising from TDS not deposited by Kingfisher Airlines

Mar 11, 2023

In Favour of : Assessee
Citation Number : TS-93-HC-2023(DEL)

High Court HC: Expounds on scope of ITSC powers; Allows Revenue's writ against ITSC order

Mar 11, 2023

In Favour of : Revenue
Citation Number : TS-103-HC-2023(ALL)

High Court HC: Dismisses writ against BMA assessment order & penalty notices due to adequate statutory remedy

Mar 11, 2023

In Favour of : Revenue
Citation Number : TS-1045-HC-2022(J & K)

Income tax Appellate Tribunal ITAT: Sans Sec.65B Certificate, rejects reliance on information retrieved from mobile phone

Mar 11, 2023

In Favour of : Assessee
Citation Number : TS-100-ITAT-2023(HYD)

Income tax Appellate Tribunal ITAT: Expenses on WIP not allowable as deduction for income computation before project completion

Mar 11, 2023

In Favour of : Both, Partially
Citation Number : TS-95-ITAT-2023(Kol)

Weekly Digest #8 26 Feb to 04 Mar 2023 5 Rulings

High Court HC: Income from regulating fish/poultry market constitutes eligible for Sec.10(26AAB) exemption

Mar 04, 2023

In Favour of : Assessee
Citation Number : TS-85-HC-2023(DEL)

High Court HC: Directs PCIT to reconsider Interglobe's revision application over double taxation of tax-refund interest

Mar 04, 2023

In Favour of : Assessee
Citation Number : TS-89-HC-2023(DEL)

Income tax Appellate Tribunal ITAT: Google Ireland’s receipts from AdWords, not royalty; Follows Google India ruling

Mar 04, 2023

In Favour of : Assessee
Citation Number : TS-92-ITAT-2023(BIL)

Income tax Appellate Tribunal ITAT: Upholds TDS credit entitlement where corresponding income not offered to tax

Mar 04, 2023

In Favour of : Assessee
Citation Number : TS-91-ITAT-2023(Ahd)

Income tax Appellate Tribunal ITAT: Imposes cost on Jet Airways for delinquency in assessment proceedings; Accords last opportunity

Mar 04, 2023

In Favour of : Assessee
Citation Number : TS-88-ITAT-2023(Mum)

Weekly Digest #7 19 Feb to 25 Feb 2023 5 Rulings

Income tax Appellate Tribunal ITAT: Absent 'make available', Cloud, Colocation, Mainframe & Data Recovery services not FIS

Feb 25, 2023

In Favour of : Assessee
Citation Number : TS-1042-ITAT-2022(PUN)

Income tax Appellate Tribunal ITAT: Expenditure on popularising ‘Livpure’ brand, capital in nature; Remands for verification & bifurcation

Feb 25, 2023

In Favour of : Assessee
Citation Number : TS-78-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Absent specific share in sale deed, spouse taxable for notional rent as equal owner

Feb 25, 2023

In Favour of : Revenue
Citation Number : TS-76-ITAT-2023(DEL)

Income tax Appellate Tribunal ITAT: Disallowing employees' PF/ESI for delayed deposit, not permissible under Sec.143(1)

Feb 25, 2023

In Favour of : Assessee
Citation Number : TS-77-ITAT-2023(JPR)

Income tax Appellate Tribunal ITAT: DRP wrong in not following HC ruling in ADIA's case over pending SLP

Feb 25, 2023

In Favour of : Assessee
Citation Number : TS-71-ITAT-2023(Mum)

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

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

Feb 18, 2023

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

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

Feb 18, 2023

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

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

Feb 18, 2023

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

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

Feb 18, 2023

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

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

Feb 18, 2023

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

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

Feb 18, 2023

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

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

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

Feb 11, 2023

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

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

Feb 11, 2023

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

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

Feb 11, 2023

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

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

Feb 11, 2023

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

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

Feb 11, 2023

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

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

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

Jan 28, 2023

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

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

Jan 28, 2023

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

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

Jan 28, 2023

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

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

Jan 28, 2023

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

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

Jan 28, 2023

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

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

Jan 28, 2023

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

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

Jan 21, 2023

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

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

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

Jan 14, 2023

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

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

Jan 14, 2023

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

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

Jan 14, 2023

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

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

Jan 14, 2023

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

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

Jan 14, 2023

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

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

Jan 07, 2023

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

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

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

Dec 31, 2022

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

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

Dec 31, 2022

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

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

Dec 31, 2022

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

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

Dec 31, 2022

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

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

Dec 31, 2022

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

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

Dec 24, 2022

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

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

Dec 17, 2022

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

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

Dec 10, 2022

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

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

Dec 03, 2022

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

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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

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

Nov 26, 2022

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