Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Dy.CIT v. Balaji Hotels and Enterprises Ltd. (2022) 94 ITR 24 (Trib.) (Chennai)(Trib.)

S. 48 : Capital gains-Computation-Cost of acquisition of asset-Interest paid on borrowed capital-Included in cost of acquisition. [S. 45, 49]

Dy. CIT(IT) v. DHV B. V. (2022) 94 ITR 46 (SN) (Delhi)(Trib.)

S. 44DA : Non-residents-Royalties-Computation-Permanent Establishment-All contracts negotiated and signed in India by branch head-Activities under each contract in India for more than six months-Income earned from contracts connected to Permanent Establishment in India-Taxable at 40 Per Cent. on net income basis in accordance with RBI guidelines.

Dy. CIT(IT) v. Mitsui and Co. (2022) 94 ITR 34 (Delhi)(Trib.)

S. 44BBB : Foreign companies-Presumptive tax-Turnkey power projects-Income from offshore supplies not liable to tax in India-Books of account not required to be maintained-Fixed percentage of receipt deemed to be income-Income from power projects to be taxed on cash basis and not on mercantile basis-DTAA-India-Japan. [Art. 7(6)]

Transocean Offshore International Venture Ltd. v. Dy.CIT(IT) (2022) 94 ITR 59 (SN) (Dehradun)(Trib.)

S. 44BB : Mineral oils-Computation-Presumptive tax-Non-Resident-Prospecting for, or extraction or production of mineral oils-Receipt on account of reimbursement of expenses-Amounts received towards mobilization advance-Includible in gross receipts-Service tax receipts-Excludible.

Arjun Yadav v. Dy.CIT (2022) 94 ITR 74 (SN) (Chandigarh)(Trib.) Lumino Industries Ltd. v. ACIT (2022) 94 ITR 675 / 215 TTJ 62 / 213 DTR 290 (Kol.)(Trib.) Navayug Labour Contractors Pvt. Ltd. v. ACIT (2022) 94 ITR 675 (Kol.)(Trib.) Jagannath Concreate Poles v. ACIT (2022) 94 ITR 675 (Kol.)(Trib.) Sandeep Mech. Engineers Ltd. v. ACIT (2022) 94 ITR 675 (Kol.)(Trib.) Jaimatadi Castings Pvt. Ltd. v. ACIT (2022) 94 ITR 675 (Kol.)(Trib.)

S. 43B : Deductions on actual payment-Employees’ contribution to Employees’ State Insurance and Provident Fund-Deposit after date specified in relevant statute-Before due date for filing return-Amendment by Finance Act, 2021 is not applicable for earlier years-No disallowance can be made-Precedent-Authorities bound to follow decision of jurisdictional High Court. [S. 36(1)(va), 139(1), 143(1)]

Dy. CIT v. BPL Ltd. (2022) 94 ITR 66 (SN) (Bang.)(Trib.)

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Merely because the liability is outstanding in the books for long period of time when there has been no supervening development nullifying the liability to pay between the parties-such liability cannot cease to exist.

Maharani of India v. ACIT (2022)94 ITR 8 (SN) (Delhi)(Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Membership and subscription charges-Not liable to deduct tax at source.

ITO v. Experion Nirman P. Ltd. (2022) 94 ITR 33 (SN) (Delhi)(Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment to consolidator for right in land-Not liable to deduct tax at source-Cost with regard to AY. 2008-09 cannot be disallowed in the AY. 2013-14. [S. 37(1), 194H]

ACIT v. Silver Jubilee Motors Ltd. (2022) 94 ITR 19 (SN) (Pune) (Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Certificate submitted was not in prescribed form-Violation of procedural provision-Matter remanded. [S. 201(1)]

Dell International Services India (P.) Ltd. v. JCIT (2022) 94 ITR 247 (Bang.)(Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Upon failure on the part of the Assessee to provide reconciliation of expenses, its nature and TDS deductions, the alternate plea to allocate the expenses so disallowed over the STPI units of the assessee while computing the relief under section 10A was accepted.