Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Indian Hume Pipe Co. Ltd v. CIT [2023] 155 taxmann.com 415 / [2024] 461 ITR 341 (Bom) (HC)

S. 37(1) : Business expenditure-Commission-Reasonableness to be considered from point of view of businessman-Revenue cannot rewrite the agreement-Appeal is allowed. [S. 260A]

PCIT v. PNB Housing Finance Ltd [2024] 297 Taxman 229 /] 461 ITR 481 (SC) Editorial : PCIT v. PNB Housing Finance Ltd [2023] 146 taxmann.com 445 / [2024] 461 ITR 476 (Delhi)(HC)

S. 36(1)(viii) : Eligible business-Special reserve-Rule of consistency-Methodology consistently adopted-deduction allowed for earlier assessment years attaining finality-Deletion of disallowance is affirmed-SLP of Revenue dismissed. [S.145]

PCIT v. PNB Housing Finance Ltd. (2024) 297 Taxman 229 /461 ITR 481 (SC) Editorial : PCIT v. PNB Housing Finance Ltd (2023) 146 taxmann.com 445 / (2024) 461 ITR 476 (Delhi) (HC)

S. 14A : Disallowance of expenditure-Exempt income-Shares held as stock in trade-Dividend income earned-Order of Tribunal deleting the addition is affirmed by High Court-SLP of Revenue is dismissed. [Art. 136]

CIT (E) v. Orissa Cricket Association [2024] 461 ITR 382 (Orissa)(HC) Editorial : Order in Orissa Cricket Association v.CIT(E ) (2018) 61 ITR 675 (Cuttack )(Trib), reversed.

S. 12AA : Procedure for registration-Trust or institution-Violation of provisions of section 13(1)(c)-Rejection of application not erroneous.[S.11, 13(1)(c), 132, 133A]

CIT (IT) v. ABB Inc [2023] 152 taxmann.com 101 /[2024] 461 ITR 297 (Karn)(HC)

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Project-specific technical and consultancy services to an Indian company-Did not satisfy the ‘make available’ clause, did not warrant tax under Article 12(4)(b) of the DTAA between India and the US-DTAA-India-USA. [Art. 12(4)(b)]

CIT (IT) v. Nagravision S. A. (2023) 157 taxmann.com 457/ (2024) 461 ITR 143 (Delhi)(HC). Editorial : SLP of Revenue is dismissed, CIT (IT) v. Nagravision S. A. (2024)461 ITR 146/ 297 Taxman 65 (SC)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Computer software- Sale of conditional access systems and middleware products to Indian customers- Not taxable as royalty-DTAA-India-Switzerland.[art. 12(3)]

CIT (I). v ABB INC. [2023] 152 taxmann.com 101/(2024)461 ITR 297 (Karn)(HC)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Fees for included services- Reviewing risk factor in particular project- Cannot be deemed to accrue or arise in India- DTAA-India-USA.[S.9(1)(vii), art.12]

CIT (IT) v. Nagravision S. A. (2024)461 ITR 146/ 297 Taxman 65 (SC) Editorial : CIT (IT) v. Nagravision S. A. (2023) 157 taxmann.com 457/ (2024) 461 ITR 143 (Delhi)(HC).

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Computer software- Sale of conditional access systems and middleware products to Indian customers- Not taxable as royalty-SLP dismissed-DTAA-India-Switzerland.[art 12(3)]

PCIT v. Shantinath Detergents (P.) Ltd [2023] 151 taxmann.com 68 / [2024] 461 ITR 302 (Cal)(HC)

S. 4 : Charge of income-tax-Sales tax incentive-Capital receipt-Not chargeable to tax. [S. 260A]

PCIT v. Vardhan Builders (2023) 256 taxmann.com. 364 / (2024)462 ITR 454 (SC) Editorial : PCIT v. Vardhan Builders (2022) 291 Taxman 450 / (2023) 456 ITR 310 ( Bom)(HC)

S. 80IB(10) : Housing projects- Area off residential units should not exceed specified limit — Entitled to deduction — SLP of Revenue is dismissed .[ Art. 136 ]