Year: 2020

Archive for 2020


DCIT v. MSEB Holding Co. Ltd. (2019) 102 taxmann.com 288 (Bom) (HC) Editorial: SLP of revenue is dismissed, since tax effect is less than Rs.2Crore. DCIT v. MSEB Holding Co. Ltd. (2020) 269 Taxman 22 (SC)

S.147: Reassessment – After the expiry of four years – Change of opinion- Interest income on fixed deposit assessed as business income – Re assessment on the ground that it has to be assessed as income from other sources. [S.56, 148, Art.226]

CIT (LTU) v. ACC Ltd. (2019) 112 taxmann.com 402 / (2020) 269 Taxman 15 (Bom) (HC) Editorial: SLP of revenue is dismissed; CIT (LTU) v. ACC Ltd. (2020) 269 Taxman 14 (SC)

S. 115JB: Book profit – Provision for bad and doubtful debt – Ascertained liability – No addition can be made.

IPCA Laboratories Ltd v ACIT (2019) 112 taxmann.com 331 / (2020) 268 Taxman 328 (Bom) (HC) Editorial: SLP of revenue is dismissed ACIT v IPCA Laboratories Ltd. (2020) 268 Taxman 327 (SC)

S. 80HHC : Export business – Entitle to deduction on gross total income without reducing it by the deduction allowed u/s 80IB of the Act .[ S. 80IA (9) , 80IB ]

CIT v. Reliance Industries Ltd (2019) 102 taxmann.com 142 (Bom.) (HC) Editorial: SLP of revenue is dismissed (SLP No.16937 of 2019 dt.19/07/2019)(2019) 416 ITR 124 (St.)(SC)

S.37(1): Business expenditure – Volckar Committee Report- Commission paid to Iraqi Government agency for purchase of oil – Held to be allowable expenditure .

CIT v ACC Ltd (2019) 112 taxmann.com 402 (Bom.)(HC) Editorial: SLP of revenue is dismissed, CIT (LTU) v. ACC Ltd. (2019)418 ITR 9 (St)(SC)/ (2020) 269 Taxman 14 (SC)

S. 37 (1): Business expenditure – Expenditure on temporary structure – Provision for deferred liability – Held to be allowable. [ S.115JB ]

Dy. CIT v. ICICI Bank Ltd ( 2019)202 TTJ 560 / ( 2020) 185 DTR 233 (Mum) (Trib)

S. 35DDA : Amortisation of expenditure – Voluntary retirement scheme – Entitled to claim deduction only to extent of 1/5th only during impugned assessment year against aggregate payment. [ S.147 ]

Dar Al Handasah Consultants (Shair & Partners) India P .Ltd v .Dy.CIT ( 2019) 76 ITR 669/ (2020) 185 DTR 66 / 203 TTJ 218 (Pune) ( Trib)

S. 10A : Free trade zone – New Industrial undertaking – Advance pricing agreement – (APA) -As per saving clause contained in S. 92CD(2), if an assessee is otherwise entitled to deduction u/s 10A, or for that matter under any other provision of the Act, in respect of the income offered in the modified return, the same cannot be denied. [ S.92CD(1) ]

H. J. Heinz company USA v. Add.CIT( 2019) 201 TTJ 786 / ( 2020) 185 DTR 207 (Delhi) (Trib)

S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services –Permanent usage of the service envisages by the concept of make available services remains at the disposal of their service recipients- Liable to be assessed as as FTS both under the Income Tax Act and under the tax treaty as well – DTAA -India -USA [ Art . 12(2) ]

Uday Shankar Triyar v. Ram Kalewar Prasad Singh & Anr. (2006) 1 SCC 75 (para 15)

Code of Civil procedure Code, 1908 .
S.151: : Appeal- Procedural defects and irregularities which are curable should not be allowed to defeat substantive rights or to cause injustice. [ Rule 4 (2) , Order 3 ]

CIT v Sun Enginering Works (1992) 198 ITR 297 (SC)

Interpretation of taxing statutes-Judgements to be read .

Art : 141:Precedent – The judgment must be read as a whole and the observations from the judgment have to be considered in the light of the questions which were before this Court- Reassessment [ Income -tax Act ,1961 ,S.147 , 148 ]