Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


BGA Electrical & Services (P.) Ltd. v. Dy. CIT (2025) 210 ITD 472 (Kol.) (Trib.)

S. 90: Double taxation relief-Foreign business income-Tax paid in Nepal-Delay in filing Form No. 67-Assessee would be entitled to FTC. DTAA-India-Nepal [Form No 67]

Preeti Das v. ITO (Pune) (Trib) (UR)

S. 90 : Double taxation relief-Foreign tax credit-Form No. 67 not filed within due date of filing return under section 139(1) but filed before processing of return by CPC-Directory and not mandatory-Foreign tax credit cannot be denied. [S. 139(1) Form No 67]

Sahkari Ganna Vikas Samiti Ltd. v. ACIT (2025) 210 ITD 375 (Lucknow) (Trib.)

S. 80P: Co-operative societies-Delay in filing of return-The amendment to section 143(1)(a)(v) enabling disallowance of deduction claimed under Chapter VIA was made by Finance Act, 2021, w.e.f. 1-4-2021-The Assessing Officer is directed to allow the claim. [S.80AC, 139(1), 143(1)(a)(v)]

City Corporation Ltd. v. Dy.CIT-(2025) 233 TTJ 367 (Pune) (Trib)

S. 80IB (10) : Housing projects-Assessee cannot be deprived of the benefit if the delays are beyond the control of the assessee-Matter remanded to the Assessing Officer for verification.

ACIT v. Ranu Vohra (2025) 210 ITD 285 (Mum.) (Trib.) Editorial: Pr. CIT (Central) v. Adar Cyrus Poonawalla [2018] 100 taxmann.com 227/260 Taxman 41 (Bom)(HC) followed.

S.70: Set off of loss-One source against income from another source-Same head of income-arrangement of affairs within legal framework through legitimate means to reduce its tax liability-no evidence on record to doubt genuineness of transactions-STCL derived by assessee could not be prevented from being set off against LTCG. [S. 45]

Manak Chand Daga v. ITO (2025) 233 TTJ 11 (UO) (Delhi)(Trib)

S. 69C : Unexplained expenditure-Information from Invetsigation wing-The AO cannot proceed to disallow only the purchases in isolation and the Tribunal disallowed the purchases at 12.5%. On appeal for A.Y. 2014-15, the Tribunal observed that the Assessee had only made payments towards purchases from previous year, hence the addition for A.Y. 2014-15 was unjustified. [S. 147, 148]

Dy.CIT v. Aba Builders Ltd (2025) 233 TTJ 328(Delhi)(Trib)

S. 69C: Unexplained expenditure-Search and seizure-Unabated assessment-Purchases are recorded in regular books of account-Order of CIT(A) deleting the addition is affirmed.

Turab Ali Bohra v. ACIT(2025) 121 ITR 153 (Jaipur)(Trib)

S. 69A: Unexplained money-Cash found in the work premises-Sales-Matter restored to AO to consider the evidence submitted. [S. 131, 133A]

Subhash Chand Gupta v. ACIT (2025) 210 ITD 118 (Delhi) (Trib.)

S. 69A: Unexplained money-Cash deposit-Demonetisation-Cash sales-Deletion of addition is affirmed by the Tribunal.

Shankar Traders & Distributors (P.) Ltd. v. ITO (2025) 210 ITD 41 (Kol.) (Trib.)

S. 68: Cash credits-Share application-Share premium-Identity and creditworthiness and genuineness is established-Addition is deleted.