S. 37(1) : Business expenditure-Corporate Social Responsibility-Special Leave Petition Dismissed on facts-Leaving Question Of Law Open. [Art. 136]
S. 37(1) : Business expenditure-Corporate Social Responsibility-Special Leave Petition Dismissed on facts-Leaving Question Of Law Open. [Art. 136]
S. 36(1)(vii) :Bad debt-Amounts should be actually written off in profit and loss account-Allowable as deduction.
S. 32 : Depreciation-Claimed depreciation in accordance with Appendix I-No substantial question of law. [ITR. 5(1), 5(1)(IA)]
S.28(i): Business loss-Derivative contracts-Foreign Exchange fluctuations-Allowable as business loss.[S. 37(1)]
S.14A : Disallowance of expenditure-Exempt income-No reasons recorded-Order of Tribunal is affirmed.[R. 8D]
S. 12AA : Procedure for registration-Trust or institution-Condonation of delay-Application was rejected-Denial of exemption is justified-SLP rejected. [S. 260A]
S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty-Fees for technical services-Business profits not taxable in India – DTAA-India – Malaysia [S.9(1)(vii), 90(2) art. 5, 7, Copyright Act, 1957, S. 14(a), 14(b)]
S. 4 : Charge of income-tax-Diversion of income by overriding title-Amounts transferred to statutory reserve fund-Amounts received and then transferred-No diversion of income by overriding title.[S. 145]
Prohibition of Benami Property Transactions Act, 1988,
S. 24: Benami Property — Provisional Attachment of property — No provision warranting authorities to provide opportunity of Cross-Examination of witnesses whose statements have been relied upon — Orders continuing provisional attachment of property till order of adjudicating authority is not erroneous.[ 24(2) 24(3) 24(4)(a)(i) , 26(3) , ITAct , S.132 , Art . 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 (2020) 422 ITR 121 (St)
S. 4: Filing of declaration – -Refund — Set-Off of refund —Capital gains for assessment year 2016 -17 – Set off of demand for the Assessment year 2014 -15 -Direction is issued to Department to make suitable adjustments to transfer amount paid under Scheme for Assessment year 2016-17 .[ S. 3, 5 , ITAct , S.244A , Art . 226 ]