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Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


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]

PCIT v. Royal Western India Turf Club Ltd. (2023)453 ITR 460 (SC) Editorial: Order in CIT v. Royal Western India Turf Club Ltd(2023) 450 ITR 707 (Bom)(HC), affirmed

S. 4 : Charge of income-tax -Entrance fees paid by Member -Capital receipt. [S. 28(i), Art, 136]

CIT v. M.R. Anandaram (2023) 453 ITR 757/ 292 Taxman 548 (SC) / CIT v. M.R. Seetharaman . ( 2023) 453 ITR 757/ 292 Taxman 548 ( SC) /CIT v. M. R. Prabhavathy (2023) 295 Taxman 415 (SC) Editorial : Refer, CIT v. M.R. Anandaram (HUF) (2022) 289 Taxman 121/ 216 DTR 432/ 328 CTR 90/ /(2023) 450 ITR 94 (Karn)(HC), order of High Court affirmed.

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-agricultural lands converted for non-agricultural purpose-lands did not fall within 8 kms from Municipality of Bangalore-Continued agricultural operation-Mere inclusion of land in Special Zone without any infrastructure development does not convert land into non-agricultural land-Not liable to capital gain tax -SLP of Revenue dismissed. [S. 45, Art. 136]

Luxora Infrastructure (P) Ltd. v. Dy CIT (2022) 220 DTR 65 / 220 TTJ 568 / (2023) 198 ITD 0713 (Mum)(Trib)

Precedent-Binding nature-Decisions of non-jurisdictional High Court-Only in the absence of benefit of guidance by the jurisdictional High Court on that issue. [S. 68, 153A]