Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


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)]

ACIT v. Madura Garments Lifestyle Retail Co. Ltd. (2021) 92 ITR 11 (SN) (Mum.)(Trib.)

S. 28(i) : Business loss-Foreign exchange forward contract cover from Bank-Maturity date falling on April, May and June 2013-Entitle to claim loss only in the year of actual loss. [S. 37(1), 143(3), 145]

ACIT v. Ruchi Malls Pvt. Ltd. (2021)92 ITR 62 (SN) (Delhi)(Trib.)

S. 28(i) : Business income-Income from house property-Leasing, operating and maintaining mall-Rental income assessable as business income and not as income from house property-Interest expense, depreciation and other expenses allowable as business expenditure. [S. 22, 37(1)]

Clear Training and Research Foundation v. CIT(E) (2021) 92 ITR 28 (SN) (Jaipur)(Trib.)

S. 12AA : Procedure for registration-Promotion of garment Industry-General public utility-Entitle registration. [S. 2(15), 11, 12, 13(8), Companies Act, 2013, S. 8]

ICRW Group Gratuvity Trust v. CIT (2021) 92 ITR 357 (Delhi)(Trib.)

S. 12AA : Procedure for registration-Gratuity payment to employees-Matter remanded for re examination. [S. 2(15), 11]