Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Bharath Wind Farm Ltd. v. DCIT (2022) 194 ITD 636 (Chennai) (Trib.)

S. 37(1) : Business expenditure-Carbon Emission reduction-Offered as income in earlier years-Entitle to claim as expenditure if ultimately receipts could not be realized. [S. 4]

E-Land Systems (P.) Ltd. v. ITO (2022) 194 ITD 541 (Bang.) (Trib.)

S. 37(1) : Business expenditure-Setting up of business-Business of providing information technology application management support services.

ACIT v. Radaan Media Works (I) Ltd. (2022) 194 ITD 505 (Chennai)(Trib.)

S. 37(1) : Business expenditure-Exhibition of tele-serials-expenditure incurred for production of tele-serials-Allowable as revenue expenditure.

Infinera India (P.) Ltd. v. JtCIT (2022) 194 ITD 463 (Bang.) (Trib.)

S. 37(1) : Business expenditure-Education cess including secondary and higher education cess-Not allowable as deduction.

TUV Rheinland NIFE Academy (P.) Ltd. v. ACIT (2022) 194 ITD 78 (Bang.)(Trib.)

S. 37(1) : Business expenditure-Interest payment on late payment of tax at source under section 201(1A) is not eligible business expenditure for deduction and it is not compensatory in nature. [S. 201(IA)]

Devarayapatana Thimmappa Paramesha v. DCIT (2022) 194 ITD 325 (Bang.)(Trib.)

S. 36(1)(va) : Any sum received from employees-Allowable as deduction even if same was paid after due date specified under respective acts but before due date of filing of return under section 139(1)-Amendment to provisions of sections 36(1)(va) and 43B vide Finance Act, 2021 is prospective in nature and would be applicable only from 1-4-2021. [S. 43B, 139(1)]

G.E.T. Water Solutions (P.) Ltd. v. ACIT (2022) 194 ITD 779 (Chennai)(Trib.)

S. 36(1)(iii) : Interest on borrowed capital-Loans to Subsidiaries-Advance from out of interest free funds available with them at relevant point of time-Disallowance of interest is not valid.

Hassan Co-operative Milk Producers Societies Union Ltd. v. ACIT (2022) 194 ITD 522 (Bang.)(Trib.)

S. 32 : Depreciation-Additional depreciation-Processing of milk and manufacturing of dairy products such as butter, ghee, pedha, etc-Business of manufacture or production of any article or thing-Entitle for additional depreciation. [S. 32(1)(iia)]

TUV Rheinland NIFE Academy (P.) Ltd. v. ACIT (2022) 194 ITD 78 (Bang.)(Trib.)

S. 32 : Depreciation-Good will-Amount paid in excess of net asset value for acquiring a business concern would constitute goodwill eligible for depreciation-Matter remanded.

Sling Media (P.) Ltd. v. DCIT (2022) 194 ITD 1 (Bang.)(Trib.)

S. 32 : Depreciation-Software development service-Machinery installed in office premises-Not manufacturing-Not entitle to addition depreciation. [S. 32(1)(iia)]