Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


DCIT v. Bagalur Krishnaiah Shetty Vijay Shanker. (2025) 210 ITD 20 (Bang) (Trib.)

S. 54 : Capital gains-Profit on sale of property used for residence-Amount utilised for construction of new house-Exemption is allowable even if construction was not complete. [S. 45]

DCIT v. Aarav Fragrances and Flavors (P.) Ltd(2025)210 ITD 369 (Mum (Trib.)

S. 48 : Capital gains-Mode of Computation-Cost inflation index-Foreign asset is held and sold outside India-Indexation-Shares held in foreign countries-Resident company-Second proviso to section 48, which grants indexation benefit, does not distinguish between assets held in India and held in foreign countries-Eligible for Indexation.[S. 45]

DCIT v. Kruti Lalitkumar Jain. (2025) 210 ITD 344 (Pune) (Trib.)

S. 45 : Capital gains-Capital loss-Indexation-Business income-Land was held for more than five years without carrying out any development activity-Sale of land is assessable as capital gains and not as business income.[S. 28(i)]

3A Composites India (P.) Ltd. v. ACIT (2025) 210 ITD 272 (Mum) (Trib.)

S. 43(6) : Written down value-Block of assets-Depreciation-Stamp valuation-Assessing Officer could not have substituted sale consideration received by stamp duty valuation of property while computing WDV for claiming depreciation on block of assets. [S. 2(11), 32, 50]

Golden Moment (P.) Ltd. v. ACIT (2025) 210 ITD 484 (Delhi)(Trib.)

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Sundry Creditors-Balance sheet-Discrepancy in confirmation and balance sheet-Addition is deleted.

DCIT v. United Drilling Tools Ltd. (2025) 210 ITD 632 (Delhi) (Trib.)

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Sundry creditors-Outstanding for more than three years-Written back as income in the Assessment year 2017-18-Addition is deleted.

DCIT v. Doosan Power Systems India (P.) Ltd. (2025) 210 ITD 99 (Chennai) (Trib.)

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Royalty-Freight charges-Not royalty-Not liable to deduct tax at source-No disallowance can be made-DTAA-India-Korea.[S.9(1)(vi), 195, Art. 12]

DCIT v. ICICI Bank Ltd. (2025)210 ITD 643 (Mum) (Trib.)

S.37(1): Business expenditure-Club membership fees-Allowable as business expenditure.

DBS Bank Ltd. v. DCIT (2025)210 ITD 448(Mum)(Trib.)

S.37(1): Business expenditure-Consultancy fee-Future expansion-Allowable as business expenditure.

3A Composites India (P.) Ltd. v. ACIT (2025) 210 ITD 272 (Mum) (Trib.)

S.37(1): Business expenditure-Ad hoc disallowance-Supporting documents-Matter remanded back to the Assessing Officer.