Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


D. M. Sankar v. ITO (2022) 440 ITR 209 / 284 Taxman 560 (Karn.) (HC)

S. 37(1) : Business expenditure-Disallowance of part of expenditure-Based on facts-No question of law. [S. 260A]

CIT v. Maharashtra Hybrid Seeds Co. Ltd. (2022) 440 ITR 75/ 212 DTR 84/ 328 CTR 676 (Bom.) (HC)

S. 37(1) : Business expenditure-Method of accounting-Incentive scheme announced to distributors and dealers-Liability arises upon announcement-Not a contingent-Ascertained liability-Allowable as deduction. [S. 145]

PCIT v. Akzo Noble India Limited (No. 2) (2022) 440 ITR 190/ 286 Taxman 251 (Cal.)(HC)

S. 37(1) : Business expenditure-Provision on account of leave encashment-Not contingent liability-Allowable as deduction.

CIT v. Maharashtra Hybrid Seeds Co. Ltd. (2022) 440 ITR 75/ 212 DTR 84/ 328 CTR 676 (Bom.) (HC)

S. 36(1)(iii) : Interest on borrowed capital-Unity control and management-Order of Tribunal is affirmed.

CIT v. Ceebros Hotels P. Ltd. (2022) 440 ITR 200/ 284 Taxman 205 (Mad.)(HC)

S. 36(1)(iii) : Interest on borrowed capital-Borrowed money was used for the purpose of business-Expansion of business-Order of Tribunal is affirmed.

CIT v. Prestige Estate Projects Pvt Ltd (2022) 440 ITR 343 (Karn.) (HC)

S. 28(i) : Business income-Income from house property-Income from other sources-Rental income from Mall should be considered as business. [S. 22, 56]

PCIT v. Delhi International Airport Pvt. Ltd. (2022) 440 ITR 594 (Karn.)(HC)

S.14A : Disallowance of expenditure-Exempt income-No exempt income-No disallowance can be made. [R.8D]

Ilahia Trust v. CIT (2022) 440 ITR 90 / 209 DTR 355 / 325 CTR 337 / 285 Taxman 312 (Ker.)(HC).Editorial : SLP dismissed as withdrawn , Ilahia Trust v. CIT [2023] 291 Taxman 200 (SC)

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Advance to proprietary concern of wife of managing Trustee-Explanation was not satisfactory-Disallowance was held to be proper. [S. 12AA, 13(1)(c)]

PCIT v. Shreedhar Associates (2022) 440 ITR 547 (Guj) ( HC)

S. 271(1)(c) : Penalty – Concealment –On money – Survey – Income voluntarily offered- Deletion of penalty is held to be justified [ S. 131(IA), 133A]

PCIT v. Shalimar Pellet Feeds Ltd. (2022) 440 ITR 530 / 216 DTR 211/ 328 CTR 840(Cal) (HC)

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Matter to be remanded to Commissioner where evidence was not considered by him- Monetary limits – Appeal was dismissed .[ S. 80IB, 153A, 254(1), 260A]