Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


JCIT v. T. V. Today Network Ltd. (2021) 92 ITR 53 (SN) (Delhi) (Trib.)

S. 37(1) : Business expenditure-Media business selling advertisement airtime on its Channel-Discount allowed-Allowable as revenue expenditure-Unpaid leave and encashment-Directed the Assessing Officer to verify actual payment. [S. 43B(f)]

Dy.CIT v. Sutham Electric Ltd. (2021) 92 ITR 35 (SN) (Pune)(Trib.)

S. 37(1) : Business expenditure-Manufacturer Of Automotive Switchgears-Expenditure on development of designs and tools-Capital expenditure.

Dy.CIT v. Gorakhpur Infrastructure Co. Ltd. (2021) 92 ITR 42 (SN) (Mum.)(Trib.)

S. 37(1) : Business expenditure-Periodic maintenance on road very five years-Matching concept-Provision for periodic maintenance-Allowable as revenue expenditure-Provision not includible in book profit. [S. 115J]

Zeenath Transport Company v. ACIT (2021) 92 ITR 460 (Bang.) (Trib.)

S. 37(1) : Business expenditure-Mining business-Stopped by order of Supreme Court-Guarantee payments for resuming mining activity-Expenditure on discharging social responsibility-Contributions to flood relief work-Legal fees to Federation of Mining Industries-Allowable as revenue expenditure.

Dy.CIT v. Eastman Exports Global Clothing Pvt. Ltd. (2021) 92 ITR 343 (Chennai)(Trib.)

S. 37(1) : Business expenditure-Capital or revenue-Lease hold land-Amount spent on construction-Allowable as revenue expenditure-Explanation to section 32(1). [S. 32]

Digiqal Solution Services Pvt. Ltd. v. ADIT (2021) 92 ITR 404 (Chd.) (Trib.)

S. 36(1)(v) : Contribution approved gratuity fund-Contribution of Employees Provident Fund and Employees’ State Insurance-Amendment in 2021 applicable in relation to assessment year 2021-22 and subsequent years-No disallowance can be made. [S. 43B]

Viney Corporation Ltd. v. ACIT (2021) 92 ITR 59 (SN) (Delhi)(Trib.)

S. 36(1)(iii) : Interest on borrowed capital-Loan advanced to subsidiary out of own funds-No disallowance can be made.

Mahle Behr India P. Ltd. and Formerly Known as Mahle India Ltd. v. Dy. CIT (2021) 190 ITD 852 / 92 ITR 726 / 213 TTJ 481/ 206 DTR 262 (Pune) (Trib.)

S. 35 : Scientific research expenditure-Weighted deduction-Not allowable in respect of expenditure incurred outside India-Expenditure of capital nature is eligible for deduction under section 35(1))iv). [S. 35(1)(iv), 35(2AB]

Dy. CIT v. Indian Mortgage Gurantee Corporatiion Pvt. Ltd. (2021) 92 ITR 20 (SN) (Delhi)(Trib.)

S. 32 : Depreciation-Policy administration software-Entitle depreciation at 60% as computer.

Dy. CIT v. Gorakhpur Infrastructure Co. Ltd. (2021) 92 ITR 42 (SN) (Mum.)(Trib.)

S. 32 : Depreciation-Intangible asset-Concession agreement with Highways Authority-Engaged in construction and maintenance of by-Pass on build, operate and transfer basis-Eligible for depreciation. [S. 32(1)(ii)]