Year: 2020

Archive for 2020


PCIT v. City Centre Mall Nashik Pvt. Ltd ( 2020) 424 ITR 85/ 121 taxmann.com 87 ( Bom) (HC)

S.28(i): Income from business – Income from house property – Exploitation of property commercially by way of complex commercial activities – Rental income is to be taxable as income from business – Not as Income from House Property. [ S.22 ]

PCIT v. Bank of India ( Bom) (HC) (UR)

S. 14A : Disallowance of expenditure – Exempt income – Rule 8D is not applicable to assessments prior to AY. 2008 -09 [ R.8D ]

PCIT v .Morgan Stanley India Securities P Ltd ( Bom) (HC) (UR)

S. 14A : Disallowance of expenditure – Exempt income – When there is no exempt income declared during the year no disallowance can be made .[ R.8D(2) (ii) ]

PCIT v Khoinoor Project Pvt Ltd ( 2020) 425 ITR 700 / (2021) 276 Taxman 180 ( Bom) (HC)

S. 14A : Disallowance of expenditure – Exempt income – When there is no exempt income declared during the year no disallowance can be made .[ R.8D(2) (ii) ]

PCIT v Shikshan Prasarak Mandali ( Bom) (HC) (UR)

S. 12A : Registration –Trust or institution- Amount collected by the assessee as donation from the students was within the permissible limit of 15% – Denial of exemption is held to be not valid [ S.11, 12AA(3), 13(1)(d) ]

CIT ( E ) v. Matunga Gymkhana (2020) 189 DTR 392/ 314 CTR 818( Bom) (HC)

S. 11 : Property held for charitable purposes – Income applied for the object of the Trust -Promotion of sports, games and providing recreation facilities to the public at large and to the members in particular and therefore receipts on account of compensation from decorator against gymkhana function, miscellaneous income and compensation from caterer (restaurant) cannot be construed as activities in the nature of trade, commerce or business for the purpose of the proviso to S. 2(15) of the Act- Capital expenditure allowed as application of income – Depreciation is allowable [ S.2(15), 12 , 13, 32 ]

CIT ( E ) v Rustomjee Kerawalla Foundation ( Bom) (HC) (UR)

S. 11 : Property held for charitable purposes – Carry forward of deficit – Allowed to be set off against income of the subsequent year . [ S. 12,32 , 72 ]

PCIT v Aesseal India Pvt Ltd ( Bom) (HC) (UR)

S. 10A : Free trade zone – Deduction to be computed before adjusting business loss or Depreciation [ S. 10B, 70, 71, 72 , 74,80IA(5), 80IA(6) ]

Valerius Industries v. UOI ( 2019) AIFTP Times – October -P 7 (Guj) (HC)

GST – Powers – S. 83 of the SGST Act, 2017.
Writ applicant seeks to challenge the action of blockage of the input tax, provisional attachment of the stock of goods, provisional attachment of its Bank Accounts in exercise of powers under Section 83 of the SGST Act, 2017.

Siddharth Enterprises v. The Nodal Officer ( 2019) AIFTP Times -October – P. 7 (Guj) (HC)

GST – Applicability of Rule 117 of CGST
Rules
“Whether the due date contemplated under Rule 117 of the Rules to claim transitional credit is procedural in nature or a mandatory provision? “