Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Geekay Facility Management (P.) Ltd. v. DCIT (2023) 198 ITD 13 (Mum) (Trib.) Jabalpur Motors Ltd. v. ADCIT (2023) 198 ITD 528 (Jabalpur) (Trib.)

S. 36(1)(va): Any sum received from employees-Paid before due date of filing of return-Allowable as deduction-Explanation to section 43B by Finance Act, 2021 was only prospective and not retrospective. [S. 43B, 139(1)]

Samira Constructions (India) Ltd. v. DCIT (2023) 198 ITD 264 (Mum) (Trib.)

S. 36(1)(iii) :Interest on borrowed capital-Own funds-Advance of loan-Assessing Officer is directed to work out figure of interest disallowance considering figure of assessee’s own fund.

Karam Singh Malik. v. ITO (2023) 198 ITD 678 (SMC) (Delhi) (Trib.)

S. 36(1)(ii):Bonus or commission-Bonus paid to employees-No finding-Certificate from Auditor-Assessing Officer was to be directed to factually verify certificate issued by auditor and allow deduction-Cash credits-Additional evidence-Matter is remanded to the Assessing Officer. [S. 68]

Reliance Industries Ltd. v. ACIT (2023) 198 ITD 158 (Mum) (Trib.)

S. 35 : Expenditure on scientific research-Amendment to provisions of rule 6(7A)(b) with effect from 1-7-2016, whereby prescribed authority can quantify expenditure eligible for weighted deduction under sub-section (2AB) of section 35, would apply only from assessment year 2017-18.[S. 35(2AB), 263, R.6(7A)(b)]

Well Wisher Construction (P.) Ltd. v. DCIT (2023) 198 ITD 268 (Mum) (Trib.)

S. 32 : Depreciation-Motor car-Registered in the name of director-Disallowance of depreciation is not justified. [S. 2(11)]

KHS Machinery (P.) Ltd. v. ACIT (2023) 198 ITD 649 (Ahd) (Trib.)

S. 31 : Repairs-Rented premises-temporary weather shed-Capital or revenue-Entitled to depreciation at rate of 100 per cent-Entire amount of expenditure incurred on construction of shed was to be allowed as revenue in nature. [S.32, 37(1)]

Shinhan Bank. v. DCIT (IT) (2023) 198 ITD 453 (Mum) (Trib.)

S. 28(iv) : Business income-Value of any benefit or perquisites-Converted in to money or not-Income deemed to accrue or arise in India-Non-reimbursement of expenses incurred by Korean Head office for salary of employees personnel deputed in India but paid in Korean by Head office of Indian PE did not result in taxable income in hands of PE-DTAA-India-Korea [S.9(1)(i), 28(iv), Art.7]

DCIT v. Ganga Developers (2023) 198 ITD 435 (Mum.)(Trib.)

S. 23 : Income from house property-Annual value-Rental income-Unsold flats-Deemed income cannot be estimated for unsold flats.[S. 22]

WATCO. v. CIT (2023) 198 ITD 658 / 223 TTJ 206 (Cuttack) (Trib.)

S. 12A : Registration-Trust or institution-Water Corporation of Odisha Ltd. (WATCO)-fall under definition of ‘State’ within meaning of article 12 of Constitution of India and, thus, it would be entitled for immunity from taxation under Income-tax Act, 1961 as directed under article 289 of Constitution of India-Additional ground is allowed-Original grounds became academic. [S.2(15), 12AA, Art, 12, 289]

Sir Vithaldas Thackersey College of Home Science (Autonomous) SNDT Women’s University. v. ITO (2023) 198 ITD 97 (Mum) (Trib.)

S. 10(23C) : Educational institution-Fresh claim-Educational institution wholly and substantially financed by Government-Matter remanded to the Assessing Officer for fresh adjudication. [S.10(23C)(iiiab), 10(23C(iiiad), 12A]