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Asst. CIT v. Montecarlo Construction Ltd. (2023)107 ITR 411 (Ahd) (Trib)

S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Developer and contractor-Work of irrigation project and construction and development of road-Not works contractor but developer undertaking projects of Infrastructure Facility-Organisations awarding contracts were 100 Per Cent. owned by State Government-Entitle to deduction-Interest income-Only net interest income to be excluded.[S.80-IA(4A), 80IA(13)]

Pravinchandra R. Patel v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.) Ansuben P.Patel (Smt) v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.) Neothech Education Foundation v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.)

S. 69B : Amounts of investments not fully disclosed in books of account-Survey-Payment in cash purchase of land-Addition is made in the hands of director-Addition cannot be made in the hands of the company.[S.133A]

Overseas Leathers v. Dy. CIT (2023)107 ITR 688 / 225 TTJ 271(Chennai) (Trib)

S. 69B : Amounts of investments not fully disclosed in books of account-Excess stock-Survey-Amount cannot be treated as unexplained investment-Taxable as business income.[S.133A]

Asst. CIT v. Experion Hospitality P. Ltd. (2023)107 ITR 22 (SN)(Delhi)(Trib)

S. 68 : Cash credits-Remittance from its Singapore based holding company-Source of the source not required to be proved-Addition is not justified.

Chandubhai Ramjibhai Kathiriya v. CIT (2023)107 ITR 54 (SN)(Rajkot) (Trib)

S. 68 : Cash credits-Agricultural income-Agricultural income is not disputed-Cash deposits cannot be assessed as cash credits. [S.10(1)]

Pravinchandra R. Patel v. Dy. CIT (2023)107 ITR 34 (SN)(Ahd) (Trib) Ansuben P.Patel (Smt) v. Dy. CIT (2023)107 ITR 34 (SN)(Ahd) (Trib) Neothech Education Foundation v. Dy. CIT (2023)107 ITR 34 (SN)(Ahd) (Trib)

S. 68: Cash credits-Credit worthiness of parties proved-Addition is deleted.

Kainya and Associates P. Ltd. v. Dy. CIT (2023)107 ITR 683 (Mum) (Trib)

S. 68 : Cash credits-Share application money-Documents and confirmation letter filed, received through banking channels-Genuineness of transaction proved-Addition is not justified.

Birla Transasia Carpets Ltd. v. Dy. CIT (2023)107 ITR 472 (Delhi) (Trib)

S. 68 : Cash credits-Unsecured loans-Identity, creditworthiness of lender and genuineness of transaction proved beyond doubt-Addition is deleted.

Bipinbhai V. Patel v. ITO (2023)107 ITR 63 (SN) (Ahd)(Trib)

S. 54F : Capital gains-Investment in a residential house-Capital asset-Receipt on relinquishment of assessee’s share in firm-Liable to capital gains-Reinvestment on residential flat allowable deduction. [S. 2(14), 45]

Karamshi Karsan Bhavani v.ITO (2023)107 ITR 27 (Trib) (SN)(Rajkot) (Trib)

S. 50C : Capital gains-Full value of consideration-Stamp valuation Long-term capital gains-Sale of immovable property-Difference in registered sale deed price and stamp duty valuation price of property sold-Rectify mistake new gift deed has been made on 15-2-2016, wherein mentioned that land transferred without any consideration-Gift deed, a self-serving document and could not be accepted-Addition is justified. [S. 45, 47(iii),56(2)(vii)]