Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


CPP Assistance Services (P.) Ltd. v. CIT NFAC (2023] 199 ITD 659 (Delhi) (Trib.)

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Royalty-Fes for technical services-Make available-Payment to holding company-Not liable to deduct tax at source-DTAA-India-UK [S. 9(1)(vi, 9(1)(vii), 195, Art. 13]

Allsec Technologies Ltd. v. DCIT (2023) 199 ITD 712 (Chennai) (Trib.)

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Royalty-Connectivity charges-Taxable as royalty-Liable to deduct tax at source-DTAA-India-UK.[S.9(1)(vi), 195, Art. 13]

Bengal Peerless Housing Development Company Ltd. v. DCIT (2023) 199 ITD 679 (Kol) (Trib.)

S.37(1): Business expenditure-Business of real estate-Marketing expenses-Not allowable-Expenses which were accumulated in work-in-progress as per Ind AS 115, revenue recognition policy and matching concept of accounting principle, same would be allowed in year in which performance obligation was satisfied.[S. 145]

L&T MHPS Generators (P.) Ltd. v. Dy.CIT (2023) 199 ITD 621 (Mum) (Trib.)

S. 37(1) : Business expenditure-Project for offshore and onshore supply of super critical turbines for thermal power project-Provision for foreseeable loss-Contingent liability-Accounting Standard 7-Matter is restored to file of Assessing Officer with direction to examine claim of assessee by calling for relevant details.[S. 145]

Bharatkumar Rajendraprasad Dave. v. ACIT (2023) 199 ITD 553 (Ahd) (Trib.)

S. 37(1) : Business expenditure-New hospital same line of business-Common management-Allowable as revenue expenditure. Exempt income-Matter remanded for verifying the expenditure-Consultancy receipts from new hospital unit-Depreciation is allowable. [S. 14A, 32, R.8D]

Shree Khedut Sahakari Khand Udyog Mandi Ltd. v. DCIT (2023) 199 ITD 173 (Surat) (Trib.) Shree Mahuva Pradesh Sahakari Khand Udyog Mandi Ltd. v. ITO (2023) 199 ITD 117 (Surat) (Trib.) Shree Sayan Vibhag Sahakari Khand Udyog Mandi Ltd. v. DCIT (2023) 199 ITD 161 (Surat) (Trib.)

S. 37(1) : Business expenditure-Sugarcane, purchase-Difference between statutory minimum price and statutory additional price fixed for sugarcane-Component of profit which would be a part of final determination of additional purchase price fixed under clause 5A of sugarcane (Control) Order, 1966-Remaining amount was to be allowed as business expenditure-Matter remanded. [Sugarcane (Control) Order, 1966, Clause 5A]

ITO v. M.D. House Build. (2023) 199 ITD 153 (Surat) (Trib.)

S. 37(1) : Business expenditure-Builder-Loan processing charges on behalf of buyers-Allowable as deduction.

DCIT v. International Seaports (Haldia) (P.) Ltd. (2023) 199 ITD 188 /221 TTJ 46 (Kol)(Trib)

S. 37(1) : Business expenditure-Renovation and repairs-Licence agreement-Allowable as revenue expenditure.

ACIT v. Tupelo Builders (P.) Ltd. (2023) 199 ITD 58 / 221 TTJ 192 (Delhi)(Trib)

S. 37(1) : Business expenditure-Interest and processing charges-Letting of properties assessed as business income-Allowable as deduction. [S. 28(i)]

DCIT v. Adani Power Maharashtra Ltd. (2023) 199 ITD 226 (Ahd.)(Trib.)

S. 37(1) : Business expenditure-Mark-to-market loss on swap contract-loans were converted into foreign currency loan to take benefit of low interest rate-Order of CIT(A) is affirmed. [S. 28(i)]