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CIT v. Bhima Sahakari Sakhar Karkhana Ltd. (2020) 121 taxmann.com 6 (Bom.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Bhima Sahakari Karkhana Ltd. (2020) 275 Taxman 390 (SC)

S. 32 : Depreciation-Unabsorbed depreciation-Carry forward and set off of-Unabsorbed depreciation loss for assessment year 1995-96 to be carried forward and set off against future profits beyond eight years holding that amendment by Finance Act, 2001 and CBDT Circular No. 14/2001 was applicable retrospectively. [S. 32 (2), 72]

PCIT v. Zydus Wellness Ltd. (2019) 112 taxmann.com 400 (Guj.) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Zydus Wellness Ltd. (2020) 269 Taxman 57 (SC) Followed CIT v. SMIFS Securities Limited, (2012) 13 SCC 488.

S. 32 : Depreciation-Goodwill-Held to be allowable.

CIT v. C.J Exports (2020) 121 taxmann.com 8 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn due to low tax effect, CIT v. C.J Exports (2020) 275 Taxman 388 (SC)

S. 28(i) : Business loss-Foreign exchange forward contract loss-Allowable as business loss.

PCIT v. NTPC SAIL Power Co. (P.) Ltd. (2020) 117 taxmann.com 135 (Delhi)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. NTPC SAIL Power Co. (P.) Ltd. (2020) 272 Taxman 92 (SC)

S. 28(i) : Business income-Income from other sources-Interest earned from surplus fund assessable as business income-Expenditure is held to be allowable as business expenditure. [S. 37 (1), 56, 260A]

CIT v. Weizmann Ltd (2020) 115 taxmann.com 246 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn as due to low tax effect, CIT v. Weizmann Ltd. (2020) 273 Taxman 15 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Investment was made from interest free funds-No disallowance could be made. [R. 8D]

CIT v. State Bank of Travancore (2020) 114 taxmann.com 555 (Ker.) (HC) Editorial : SLP of revenue is dismissed, CIT v. State Bank of Travancore (2020) 269 Taxman 571 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Provision is not applicable to prior to assessment year 2007-08.

CIT(E) v. Rural Education & Women Welfare Society, SAS Nagar (2020) 114 taxmann.com 190 (Punj. & Har.) (HC) Editorial: SLP of revenue is dismissed, CIT (E) v. Rural Education & Women Welfare Society, SAS Nagar (2020) 269 Taxman 466 (SC)

S. 12AA : Procedure for registration-Trust or institution-School-Entire expenditure incurred by assessee was for purposes of school-Denial of registration is held to be not justified. [S.2 (15), 11]

CIT (E) v. Society of Indian Automobile Manufactures (2020) 117 taxmann.com 129 (Delhi) (HC) Editorial : SLP of revenue is dismissed due to low tax effect, CIT (E) v. Society of Indian Automobile Manufactures (2020) 272 Taxman 99 (SC)

S. 11 : Property held for charitable purposes-Trade association-Object of promoting awareness and information dissemination with respect to automobile industry-Fees for conducting seminars-Entitle to exemption. [S. 2(15)]

CIT(E) v. Praxis Institute For Participatory Practices (2020) 113 taxmann.com 148 (Delhi)(HC) Editorial : SLP is granted to the revenue, CIT (E) v. Praxis Institute For Participatory Practices (2020) 269 Taxman 38 (SC)

S. 11 : Property held for charitable purposes-Providing services of relief to poor, education and medical relief would fall within scope of general public utility-Entitle to exemption. [S. 2(15), 12A, 80G]

CIT v. Ganesh Polychem Ltd. (2020) 120 taxmann.com 270 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn due to low tax effect, CIT v. Ganesh Polychem Ltd. (2020) 274 Taxman 455 (SC).

S. 10B : Export oriented undertakings-Brought forward unabsorbed depreciation and losses-Not eligible unit-Cannot be setoff against current profit of eligible unit for computing deduction.