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Archive for the ‘Income-Tax Act’ Category


Mansarovar Commercial Pvt. Ltd. v. CIT (2023) 453 ITR 661 / 293 Taxman 312 / 332 CTR 137 / 224 DTR 305 (SC) Editorial: Decision of Delhi High Court, affirmed, CIT v. Mansarovar Commercial Pvt. Ltd (Delhi)(HC) (2016) 134 DTR 105 / 287 CTR 28 (Delhi)(HC). Editorial : Review petition is dismissed , Mansarovar Commercial Pvt. Ltd. v. CIT (2023)453 ITR 661/ 293 Taxman 312 / 332 CTR 137/ 224 DTR 305 (SC)

S. 37(1) : Business expenditure-Commission-Residence-Company-Control And Management-Assessee-Companies Registered In Sikkim – Burden not discharged -Round tripping of funds -Liable to tax in India. [S. 2(35), 5, 6(3)(ii), 131, 142(1), 143(2), 148, 234A, 282]

Katti Ma v. Dy. CIT (2023) 453 ITR 258 / 293 Taxman 77 (Mad)(HC)

S. 36(1)(vii) : Bad debt -Trading loss –Stock in trade – No evidence to demonstrate nature of business advances -Question of fact -Disallowance of claim was affirmed. [S. 28(i), 36(2), 260A]

PCIT v. Vaibhav Global Ltd. (2023) 453 ITR 24 / 333 CTR 443/ 226 DTR 123 (Raj)(HC) Editorial: SLP of Revenue is dismissed, PCIT v. Vaibhav Global Ltd. (2023)453 ITR 31(SC)

S. 28(i) : Business loss-Write-Off of Loss-Investment made in subsidiary abroad-Commercial expediency -Transfer pricing adjustment -Book profit -Provision for doubtful debts -Remanded to the Assessing Officer- Question of facts. [S. 37(1), 92C, 115JB, 260A]

Cargo Motors Pvt. Ltd. v. Dy. CIT (2023) 453 ITR 554 / 291 Taxman 208 (Delhi)(HC)

S. 14A : Disallowance of expenditure – Exempt income – Only Investments yielding income can only be taken into account -CBDT Circular dated 11-2-2014(2014) 361 ITR 94 (St), cannot override provisions of Section 14A and Rule 8D. [S. 119, R.8D(2)(iii)]

CIT v. Swami Omkarananda Saraswati Charitable Trust (2023)453 ITR 245 (All)(HC)

S. 11 : Property held for charitable purposes- Res Judicata -Rule of consistency-Benefits granted in earlier years-Order of Tribunal affirmed. [S. 12, 260A]

CIT(E) v. Krupanidhi Education Trust (2023)453 ITR 750/ 293 Taxman 2 (SC) Editorial : CIT (E). v. Krupanidhi Education Trust (2022) 441 ITR 154 (Karn)(HC), affirmed.

S. 11 : Property held for charitable purposes-Imparting education-Surplus in educational activities-Alleged excess remuneration to trustee employees-Revenue has no power to interfere-Exemption cannot be denied -Order of High Court affirmed. [S. 2(15), 12A, 13, Art. 136]

PCIT v. Ritu Agarwal Shreeram Bhawan (2023)453 ITR 520 (Raj) (HC) Editorial: SLP of Department is dismissed, PCIT v. Ritu Agarwal Shreeram Bhawan (2023) 452 ITR 412(St) (SC)

S. 10(38) : Long term capital gains from equities -Sale of shares- Capital gains -Income from other sources -Deletion of addition by the Tribunal is justified -Question of fact. [S. 45, 56, 260A]

Wipro Ltd. v. Add. CIT (2023)453 ITR 796 (Karn)(HC) Editorial: Add. CIT v. Wipro Ltd (2023) 453 ITR 799 (SC)

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty –
Non-Resident – Import of licensed software directly supplied by foreign vendor to end-user in India under exclusive licences -Not liable to deduct tax at source. [S. 195, 201(1)]

Add. CIT v. Wipro Ltd. (2023)453 ITR 799 (SC) Editorial : Affirmed, Wipro Ltd. v. Add. CIT (2023) 453 ITR 796 (Karn)(HC)

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty Import of licensed software under exclusive licences -Not royalty -Not liable to deduct tax at source- Pendency of Review petition -SLP of Revenue was dismissed. [S.195, 201 (1), Art, 136]

CIT(IT) v. Microsoft Corporation (Ms Corp) (2023)453 ITR 746/293 Taxman 508 (SC) /)/ (2024) 298 Taxman 546 ( SC) Editorial: CIT (IT) v. Microsoft Corporation (Ms Corp) (2022) 445 ITR 6/288 Taxman 32 (Delhi)(HC), affirmed.

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Transferee authorised to use licensed software-No transfer of Copyright-Amount received is not royalty-DTAA-India-USA- SLP of Revenue dismissed. [S. 90(2) Art, 12, Art, 136]