Category: Tax Laws

Archive for the ‘Tax Laws’ Category


PCIT v V. A. Tech Wabag Pvt. Ltd. (2020) 424 ITR 105 (Mad) (HC)

S. 80IA :Industrial undertakings – Infrastructure development – Sewage system-Contract with local bodies for development of infrastructure facility -Entitle to deduction [ S.80IA(4) ]

Paradigm Geophysical Pvt Ltd. v. CIT (IT) (2020)424 ITR 521 / 115 taxmann.com 254/ 189 DTR 260/ 315 CTR 522 (Delhi)(HC)

S. 44BB : Mineral oils – Computation – Non-resident – Royalty and fees for technical services – Matter remanded to the file of Commissioner (Appeals)- Interpretation of taxing statutes — Strict interpretation.- when there are two provisions in an enactment which cannot be reconciled with each other, the doctrine of harmonious construction should be applied and attempt should be to interpret the provisions, if possible, giving effect to both- DTAA -India -Australia [ S.44DA , 115A, Art , 12 ]

Engineering Professional Co. Pvt. Ltd. v Dy CIT (2020) 424 ITR 253 /186 DTR 33/ 313 CTR 272/ 270 Taxman 242 ( Guj) (HC)

S.44AB: Presumptive taxation — Construction Business — Appellate Tribunal remanding the matter-The Assessing officer not following the direction of the Appellate Tribunal – Directed the Assessing Officer to follow the direction- Availability of alternative remedy is not bar to entertaining the writ petition [ S.44AD ,144, 251(1),Art , 226 ]

CIT v. Jsw Steel Ltd (2020) 424 ITR 227/ 275 Taxman 587 (Karn)(HC), Editorial: Notice issued in SLP filed by the revenue , CIT v. JSW Steel Ltd ( 2021 ) 282 Taxman 300 (SC))/ .SLP dismissed , CIT v. JSW Steel Ltd ( 2022) 284 Taxman 277 (SC)

S. 43A : Rate of exchange – Foreign currency – Business loss- Rate of Exchange of foreign currency – loss on settlement of forward contract – Held to be allowable .

PCIT v. Western Agri Seeds Ltd. (2020) 424 ITR 244/192 DTR 142/ 316 CTR 590 (Guj)(HC)

S. 40A(2): Expenses or payments not deductible – Excessive or unreasonable – Discount and rate difference- Deletion is held to be justified .

Precision Wires India Ltd. v. ACIT (2020) 424 ITR 130/ 272 Taxman 42 (Guj)(HC)

S.37(1): Business expenditure — Capital or revenue-Expenditure on replacing machinery destroyed by fire — Expenditure on dies and tools — Allowable as revenue expenditure.

National Refinery Pvt. Ltd. v. ACIT (2020)424 ITR 267 / 272 Taxman 160(Bom)(HC)

S.37(1): Business expenditure — Legal expenses —Defend its Directors and shareholders in individual capacities- Disallowance is held to be proper . [ S.260A ]

PCIT v. Western Agri Seeds Ltd. (2020) 424 ITR 244 /192 DTR 142/ 316 CTR 590 (Guj)(HC)

S.37(1): Business expenditure -Capital or revenue -Acquisition of non-transferable sub-licence – Allowable as revenue expenditure.

PCIT v. Grasim Industries Ltd. (2020) 424 ITR 236 (Bom)(HC)

S.37(1): Business expenditure — Capital or revenue -Acquisition of technical know-how -Depreciation- Allowable as revenue expenditure . [ S.32(1) ]

CIT (LTU) v. Cholamandalam Ms General Insurance Co. Ltd. (2020) 424 ITR 272 (Mad)(HC)

S.32: Depreciation —Uninterrupted power supply system for Computers —Entitled to depreciation at 60 Per Cent.