Direct tax Weekly Digest

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

Mar 12, 2022

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

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

Mar 05, 2022

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

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

Feb 26, 2022

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

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

Feb 19, 2022

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

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

Feb 12, 2022

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

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

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

Feb 05, 2022

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

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

Feb 05, 2022

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

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

Feb 05, 2022

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

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

Feb 05, 2022

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

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

Feb 05, 2022

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

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

Jan 29, 2022

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

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

Jan 22, 2022

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

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 15, 2022

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

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

Jan 14, 2022

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

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

Jan 14, 2022

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

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

Jan 08, 2022

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

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

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

Jan 01, 2022

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

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

Jan 01, 2022

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

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

Jan 01, 2022

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

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

Jan 01, 2022

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

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

Jan 01, 2022

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

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

Jan 01, 2022

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

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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

Dec 25, 2021

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

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)