Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


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

S. 14A : Disallowance of expenditure-Exempt income-stock in trade-No disallowance can be made.[R. 8D]

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

S. 14A : Disallowance of expenditure-Exempt income-Sufficient interest free funds-Investment in securities-Disallowance is deleted.[R.8D]

DCIT v. CMR Jnanadhara Trust. (2025) 210 ITD 519 (Bang) (Trib.)

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Own case for earlier assessment years, exemption under section 11 was allowed-No change of facts-Exemption is allowed. [S.11, 13(1)(c)]

Jalna Maheshwari Charitable Foundation v. CIT (E) (2025)210 ITD 665 (Pune)(Trib.)

S. 12A : Registration-Trust or institution-Procedure for fresh registration-Failure to reply show cause notice-Matter remanded back to Commissioner (Exemption) with a direction to grant one final opportunity to assessee to substantiate its case by filing requisite details. [S.12AB]

DCIT v. EYGBS (India) (P.) Ltd. (2025) 210 ITD 686 (Bang) (Trib.)

S. 10AA : Special Economic Zones-Transfer pricing adjustment-Eligible for deduction under section 10AA in respect of voluntary adjustment made by it-Transfer Pricing adjustment made by it [S.92C]

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

S. 10(23G) : Infrastructure undertaking-Banking company-Made investments or had advanced loans to companies engaged in business of infrastructure development-Eligible for claiming exemption.

Dassault Systemes SolidWorks Corporations v. ACIT(IT) (2025) 210 ITD 476 (Mum.)(Trib.)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Amount received by assessee from Indian customers on account of sale of software solutions could not be treated as royalty-DTAA-India-USA. [Art. 12]

Manab Chandra Ghosh v. ACIT [2025] 210 ITD 310 (Kol.)(Trib.)

S. 5 : Scope of total income-Non-resident employee of an Indian company-Income from employment-Foreign assignment allowances for services rendered in Indonesia-Services were rendered outside India-Allowances were not taxable in India-DTAA-India-Indonesia [S. 5(2)(b), 9(1)(i), Art. 15]

NICAF LLP v. ITO (Mum)( Trib) www.itatonline.org .

S:68: Cash credits – Unexplained Credit – Conversion of Company to LLP – Capital Account – Accumulated Profits –Capital gains – Mere accounting entry, without actual monetary benefit to the partners, does not constitute payment for alleged Violation of Section 47(xiiib)(f) – Book Entry – No Actual Payment – Burden on AO – Addition is deleted .[ S.45 , 47(xxib)(f), 115BBE , Limited Liability Partnership Act , 2008 , S. 56, 57 ]

Goldman Tapes Private Limited v. ACIT ( Mum)( Trib) www.itatonline.org . ,

S. 69A: Unexplained Investments – Unexplained Money – Demonetization- –Deposit of cash – Business receipts – Recorded in Books –Acceptance of Specified Bank Notes ( SBNs) prior to 31.12.2016 is not illegal – Addition is deleted.