Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


The Raibag Taluka Primary Co -Operative Agriculture & Rural Development Bank Ltd ( 2022) The Chamber’s Journal -April – P. 102 ( Panji ) ( Trib)

S. 251 : Appeal – Commissioner (Appeals) – Powers – CIT(A) does not have power to dismiss an appeal for non-prosecution-Order set aside and restored the matter to decide on merits . [ S. 251(2)]

Interglobe Enterprises Pvt Ltd v. ACIT ( 2022) The Chamber’s Journal -August – P. 156 ( Delhi ) ( Trib)

S. 199 : Deduction at source – Credit for tax deducted – Credit of TDS should be availed in the year in which income is assessed [ S. 199(3), Rule 37BA(3), Form No. 26AS. ]

DCIT v. Anjana Modi ( 2022) The Chamber’s Journal -March – P. 114 ( Mum) ( Trib)

S. 153A: Assessment – Search or requisition- No addition can be made in the absence of an incriminating material even if return of income is processed u/s 143(1) of the Act . [ S. 132, 143(1)]

V.K.Natha Co -Operative Housing Society v.ACIT ( 2022) The Chamber’s Journal -February – P. 184 ( Mum) ( Trib)

S. 80P : Co-operative societies – Interest received from Co -Operative Bank – Deduction u/s 80P(2)(d) cannot be denied .[ S.80P(2)(d) ]

V.Ngarajan v .ITO ( 2022) The Chamber’s Journal -June – P. 81 ( Chennai ) ( Trib)

S. 68 : Cash credits – Cash deposit – Sale of agricultural land – Addition was deleted .

Shri Krishna Chmankar v .ACIT ( 2022) The Chamber’s Journal -February – P. 182 ( Mum) ( Trib)

S. 68 : Cash credits – Cash withdrawn earlier deposited – Denomination – Addition is held to be not valid .

Vandana Pathore v.ITO 2022) The Chamber’s Journal -August – P. 154 ( Pune ) ( Trib)

S. 54B : Capital gains – Land used for agricultural purposes -Purchase of agricultural land in the name sons – Not entitle to exemption – Followed jurisdictional High Court .

Uday Lad v. ACIT ( 2022) The Chamber’s Journal -May – P. 81 ( Mum ) ( Trib)

S. 54 : Capital gains – Profit on sale of property used for residence – Date of possession – Date of purchase is the date on which a residential house becomes ready for exemption [ S. 45 ]

Drisha Impex Pvt Ltd v. DCIT ( 2022) The Chamber’s Journal -March – P. 117 ( Mum ) ( Trib)

S.43B: Deductions on actual payment – Sales tax demand disputed in appeal -Deduction allowable when the actual liability is crystalised by the VAT Authority .

Vikrant Happy Homes Pvt Ltd v. DCIT ( 2022) The Chamber’s Journal -May – P. 82 ( Ahd ) ( Trib)

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits – Land purchase – Real estate business- Expenditure added to closing work in progress – No disallowance can be made .[ S. 145 ]