Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


DCIT v. Jaimuni Sahakari Patpedhi Maryadit, (Mum)( Trib)

S. 80P : Co-operative societies-Commission income from MSEDCL Bill Collection-Services rendered to members-Entitle to exemption. [S. 80P(2)(c)]

ITO v. Goodfarm Rearing (Ahd.)(Trib.)(UR)

S. 68 : Cash credits-Capital is recorded through proper banking channel-Capital introduced by partner in firm-No addition can be made in the hands of the firm. [S. 2(31)(iv), 133(6)]

ITO v. NICAF LLP [2025] 175 taxmann.com 1001(Mum) (Trib.)

S. 68: Cash credits- Conversion of private limited company into LLP – The transfer of share capital and reserves to partners’ accounts upon conversion – The addition was not justified since the nature and source of the credit were explained and not unexplained. [S. 47(xiiib)(f), 115BBE]

Dy. CIT v. A.A. International (Mum)(Trib.)(UR )

S. 68 : Cash credits-Firm -Partners-Once partners’ identity, creditworthiness, and genuineness of capital contribution are established through evidence, addition u/s. 68 cannot be made in the firm’s hands, as the firm is not required to explain the source of partners’ funds. [S. 2(31)(iv)]

Om Shriniwas Developers v. ITO [2025] 177 taxmann.com 610 (SMC) (Pune)(Trib.)

S.43CA: Transfer of assets- other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation Difference between SDV and agreement value was less than 5 per cent-Addition is deleted-Change of opinion-Reopening is not justified. [S. 50C, 147, 148]

Virbala Kiritkumar Patel v. Dy. CIT (Ahd.)(Trib.)(UR)

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Consultancy charges paid to related party-No comparable instances cited by AO-Disallowance is deleted. [S. 40A(2)(b)]

Rajasthan Cricket Association v. ITO( E) [2025] 174 taxmann.com 346 (Jaipur)(Trib)

S. 11 : Property held for charitable purposes – Excess expenditure over income-Accumulation of income-Applied charitable purpose – Denial of exemption is not valid. [S. 11(1)(a), 12A]

Meshri Mahajan Vanda v. ITO (E) (Ahd.)(Trib.)(UR)

S. 11 : Property held for charitable purposes – Accumulation of income-Amendment by Finance Act, 2022, restricting accumulation applies prospectively from 1-4-2022- Trust could validly utilize accumulated income of earlier years up to 31-3-2023 within original time window. [S. 11(3)(c)]

Essel Mining & Industries Ltd. v. Addl. CIT [2025] 174 taxmann.com 866 (Kol.)(Trib)

S. 4 : Charge of income-tax – Capital or revenue – Compensation received for under performance of wind turbine generators (WTGs)- Capital receipt. [S.28(i)]

Estate Investment Co. Pvt. Ltd. v. DCIT (Mum)(Trib) — www.itatonline.org

S. 151A: Face less assessment scheme – Reassessment – Faceless jurisdiction – Manual DIN – Reassessment held void ab initio – Jurisdictional AO issued notice instead of Faceless AO – Assessment order manually issued without computer-generated DIN – Proceedings invalid. S. 147, 148 151, CBDT Circular No. 19/2019 ]