Direct tax Weekly Digest

Weekly Digest #46 13 Nov to 19 Nov 2022 7 Rulings

High Court HC: Holds Benami Act not applicable retrospectively; Quashes SCN for penal proceedings

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-885-HC-2022(DEL)

High Court HC: Rectification cannot amount to reassessment; Directs VsV application disposal, basis original computation

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-866-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Confirms 'on-money' addition, basis Director's statement & failure to appear for cross-examination

Nov 19, 2022

In Favour of : Revenue
Citation Number : TS-884-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Absent cogent material, LTCG not bogus despite drastic spike in share-price

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-886-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Allows expenses exclusion from 'Total Turnover' at par with 'Export Turnover' for Sec.10A deduction

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-891-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Directs DRP to decide treaty benefit on Independent Personal Services, basis additional evidence

Nov 19, 2022

In Favour of : Assessee
Citation Number : TS-893-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Upholds revision of wrong tax-rate under Sec.115BBE after CIT(A) passed quantum order

Nov 19, 2022

In Favour of : Revenue
Citation Number : TS-892-ITAT-2022(CHANDI)

Weekly Digest #45 06 Nov to 12 Nov 2022 8 Rulings

High Court HC: Centralised services to Indian hotels including marketing & sales, not FTS; Follows Sheraton International ruling

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-875-HC-2022(DEL)

High Court HC: Quashes reassessment notice, basis change of opinion, over expenses for perfecting property-title

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-876-HC-2022(DEL)

High Court HC: Annuls fresh reassessment initiated during pendency of proceedings; Directs Revenue to consider objections

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-872-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Dutch Co.’s receipts from executive search services not FTS; Remands issue of management fees taxability

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-863-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Remits forex loss allowability on AE-loan to examine whether equity in nature

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-877-ITAT-2022(Ahd)

Income tax Appellate Tribunal ITAT: Holds sales tax subsidies received by Ambuja Cements as capital in nature

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-874-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Breach of VsV condition leads to revival of appeal; Dismisses Revenue's maintainability plea

Nov 12, 2022

In Favour of : Assessee
Citation Number : TS-871-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Directs CIT(A) for speaking order on short & long term investment income for Sec.80P deduction

Nov 12, 2022

In Favour of : Both, Partially
Citation Number : TS-873-ITAT-2022(PAN)

Weekly Digest #44 30 Oct to 05 Nov 2022 10 Rulings

High Court HC: Quashes Sec.148 notices issued beyond 4 years due to Addl.CIT's approval

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-849-HC-2022(ORI)

Income tax Appellate Tribunal ITAT: Following SC's Checkmate Services ruling, disallows employees' PF/ESI contribution for depositing beyond statutory due-date

Nov 05, 2022

In Favour of : Revenue
Citation Number : TS-852-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Quashes revision against Tata AIA over taxability of Shareholders' A/c surplus as other business

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-860-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Accounting personnel's resignation, MD's health problem acceptable reason for deleting audit delay penalty

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-836-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Sec.80G approval dates back to AY pertaining to year of application, not order date

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-847-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Design Charges inherently connected with jewellery export, covered under Sec.10A

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-851-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Rejects Sec.11 exemption as imparting managerial training not incidental/ancillary to Main Objects

Nov 05, 2022

In Favour of : Revenue
Citation Number : TS-854-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.43CA inapplicable, absent element of transfer in cancellation deed involving agricultural land

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-855-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Holds revisionary order passed without DIN as invalid, violative of CBDT Circular

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-858-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Accepts rate charged by SEB as comparable, holds sale of power at arm's length

Nov 05, 2022

In Favour of : Assessee
Citation Number : TS-861-ITAT-2022(HYD)

Weekly Digest #43 23 Oct to 29 Oct 2022 4 Rulings

Income tax Appellate Tribunal ITAT: Brought forward losses not adjustable against 'exempt' capital gains; Follows Goldman Sachs ruling

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-832-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sec.10(23C)(vi)/11 claim, a debatable issue, not adjustable while processing ITR

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-829-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Havells' purchases of Rs.40 Lacs vis-a-vis Rs.1000 Cr. turnover, not bogus, absent cogent reasons

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-825-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Sec.115BBC not at par with Sec.68, inapplicable where donors' identity disclosed

Oct 29, 2022

In Favour of : Assessee
Citation Number : TS-833-ITAT-2022(DEL)

Weekly Digest #42 16 Oct to 22 Oct 2022 7 Rulings

Income tax Appellate Tribunal ITAT: Barclays' IDR income exempt under India-Mauritius DTAA; Follows Morgan Stanley ruling

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-816-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Directs Revenue to examine Freebies' allowability, basis additional evidence, in Astra Zeneca's case

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-823-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Considering DVO Report mandatory, once matter referred for FMV computation under Sec.56(2)(vii)(b)

Oct 21, 2022

In Favour of : None/NA
Citation Number : TS-824-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Following Maruti Suzuki ruling, quashes post-amalgamation assessment of State Bank of Indore

Oct 22, 2022

In Favour of : Assessee
Citation Number : TS-820-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Deletes Sec.271AAB penalty basis documents failing to establish connection with Assessee’s business

Oct 22, 2022

In Favour of : Both, Partially
Citation Number : TS-818-ITAT-2022(JPR)

Income tax Appellate Tribunal ITAT: Directs Revenue to accept cost of ESOP shares as per Sec.49(2AA), if TRC found in order

Oct 22, 2022

In Favour of : Both, Partially
Citation Number : TS-817-ITAT-2022(Bang)

Income tax Appellate Tribunal ITAT: Deletes addition under Sec.68 based on third party confirmation, not cross-examined by Assessee

Oct 15, 2022

In Favour of : Both, Partially
Citation Number : TS-801-ITAT-2022(DEL)

Weekly Digest #41 09 Oct to 15 Oct 2022 6 Rulings

High Court HC: Quashes reassessment proceedings as without jurisdiction for AY 2016-17, alleged escapement below Rs.50L

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-795-HC-2022(CAL)

High Court HC: Directs processing of VsV application, rejected under FAQ 71 of CBDT Circular

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-794-HC-2022(DEL)

High Court HC: Reassessment notice under new regime invalid where old notice not covered by Ashish Agarwal ruling

Oct 15, 2022

In Favour of : Revenue
Citation Number : TS-802-HC-2022(DEL)

Income tax Appellate Tribunal ITAT: Enduring benefit from marketing support antithetical to 'make available' clause; Holds services not taxable

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-796-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Elucidates on definition of ‘other educational institution’; Restores Sec.10(23C)(vi) exemption application for re-adjudication

Oct 15, 2022

In Favour of : None/NA
Citation Number : TS-789-ITAT-2022(ALLD)

Income tax Appellate Tribunal ITAT: Underreporting not misreporting as facts manifest no tax-evasion; Deletes penalty

Oct 15, 2022

In Favour of : Assessee
Citation Number : TS-803-ITAT-2022(JPR)

Weekly Digest #40 02 Oct to 08 Oct 2022 6 Rulings

High Court HC: Upholds requirement of submitting cryptocurrency ledger in reassessment proceedings while dismissing writ petition

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-778-HC-2022(RAJ)

High Court HC: Upholds SMC ruling on disallowance of interest on partner's capital, mandatory nature of depreciation

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-776-HC-2022(AP)

Income tax Appellate Tribunal ITAT: MFN Clause in Protocol integral to DTAA, effective even without specific notification

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-779-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Assessee entitled to Sec.80-IA deduction where Form 10CCB filed with revised return

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-770-ITAT-2022(CHNY)

Income tax Appellate Tribunal ITAT: Sec.11 exemption deniable only to the extent of Sec.13 violation

Oct 08, 2022

In Favour of : Assessee
Citation Number : TS-775-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Repair & restoration of existing road by Contractor for Govt., ineligible for Sec.80-IA deduction

Oct 08, 2022

In Favour of : Revenue
Citation Number : TS-780-ITAT-2022(Rjt)

Weekly Digest #39 25 Sep to 01 Oct 2022 6 Rulings

High Court HC: Business loss eligible for set off till AY 2016-17 against income covered under Sec.115BBE

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-754-HC-2022(KER)

High Court HC: Permits assessee to raise objections before AO qua reassessment, modifies order in writ appeal

Oct 01, 2022

In Favour of : Both, Partially
Citation Number : TS-767-HC-2022(MAD)

Income tax Appellate Tribunal ITAT: Entering contract of extended warranty for Bentley Cars does not constitute DAPE

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-766-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Deletes addition of deposits on demonetisation since explained from accounts & customer's statements

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-762-ITAT-2022(Mum)

Income tax Appellate Tribunal ITAT: Sec.153A assessment not valid where Assessee not specifically subjected to search

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-758-ITAT-2022(DEL)

Income tax Appellate Tribunal ITAT: Cooperative Society's investment income from Cooperative Bank eligible for Sec.80P deduction

Oct 01, 2022

In Favour of : Assessee
Citation Number : TS-753-ITAT-2022(Mum)

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

Sep 24, 2022

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

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

Sep 17, 2022

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

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

Sep 10, 2022

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

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

Sep 03, 2022

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

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

Aug 27, 2022

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

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

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

Aug 20, 2022

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

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

Aug 20, 2022

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

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

Aug 20, 2022

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

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

Aug 20, 2022

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

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

Aug 20, 2022

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

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

Aug 20, 2022

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

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

Aug 13, 2022

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

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

Aug 06, 2022

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

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

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

Jul 30, 2022

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

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

Jul 30, 2022

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

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

Jul 30, 2022

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

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

Jul 30, 2022

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

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

Jul 30, 2022

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

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

Jul 30, 2022

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

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

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

Jul 23, 2022

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

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

Jul 23, 2022

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

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

Jul 23, 2022

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

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

Jul 23, 2022

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

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

Jul 23, 2022

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

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

Jul 23, 2022

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

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

Jul 16, 2022

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

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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

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

Jul 09, 2022

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