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Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


CIT v. Weizmann Ltd (2020) 115 taxmann.com 246 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn as due to low tax effect, CIT v. Weizmann Ltd. (2020) 273 Taxman 15 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Investment was made from interest free funds-No disallowance could be made. [R. 8D]

CIT v. State Bank of Travancore (2020) 114 taxmann.com 555 (Ker.) (HC) Editorial : SLP of revenue is dismissed, CIT v. State Bank of Travancore (2020) 269 Taxman 571 (SC)

S. 14A : Disallowance of expenditure-Exempt income-Provision is not applicable to prior to assessment year 2007-08.

CIT(E) v. Rural Education & Women Welfare Society, SAS Nagar (2020) 114 taxmann.com 190 (Punj. & Har.) (HC) Editorial: SLP of revenue is dismissed, CIT (E) v. Rural Education & Women Welfare Society, SAS Nagar (2020) 269 Taxman 466 (SC)

S. 12AA : Procedure for registration-Trust or institution-School-Entire expenditure incurred by assessee was for purposes of school-Denial of registration is held to be not justified. [S.2 (15), 11]

CIT (E) v. Society of Indian Automobile Manufactures (2020) 117 taxmann.com 129 (Delhi) (HC) Editorial : SLP of revenue is dismissed due to low tax effect, CIT (E) v. Society of Indian Automobile Manufactures (2020) 272 Taxman 99 (SC)

S. 11 : Property held for charitable purposes-Trade association-Object of promoting awareness and information dissemination with respect to automobile industry-Fees for conducting seminars-Entitle to exemption. [S. 2(15)]

CIT(E) v. Praxis Institute For Participatory Practices (2020) 113 taxmann.com 148 (Delhi)(HC) Editorial : SLP is granted to the revenue, CIT (E) v. Praxis Institute For Participatory Practices (2020) 269 Taxman 38 (SC)

S. 11 : Property held for charitable purposes-Providing services of relief to poor, education and medical relief would fall within scope of general public utility-Entitle to exemption. [S. 2(15), 12A, 80G]

CIT v. Ganesh Polychem Ltd. (2020) 120 taxmann.com 270 (Bom.)(HC) Editorial : SLP of revenue is dismissed as withdrawn due to low tax effect, CIT v. Ganesh Polychem Ltd. (2020) 274 Taxman 455 (SC).

S. 10B : Export oriented undertakings-Brought forward unabsorbed depreciation and losses-Not eligible unit-Cannot be setoff against current profit of eligible unit for computing deduction.

PCIT v. Rajesh Exports Ltd. (2020) 114 taxmann.com 93 (Karn.) (HC) Editorial : SLP is granted to the revenue, PCIT v. Rajesh Exports Ltd. (2020) 270 Taxman 172 (SC)

S. 10B : Export oriented undertakings-Entitled to claim exemption on interest income earned from inter-corporate loans and deposits lying in EEFC account.

Intel Technology India (P) Ltd (2020) 275 Taxman 592/(2021) 197 DTR 455 / 319 CTR 68 (SC)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Fees for technical services-Court had not answered question of payment of royalty on merits-Matter should be restored to High Court-OECD Model convention, 12. [S. 9(1)(vii), 260A]

PCIT v. H.P. Excise & Taxation Technical Service Agency (2020) 113 taxmann.com 86 (HP)(HC) Editorial : SLP of revenue is dismissed, PCIT v. H.P. Excise & Taxation Technical Service Agency (2020) 269 Taxman 20 (SC)

S. 4 : Charge of income-tax-Income paid to Government as per bye-laws of society-Income is taxable though the Trust is not registered. [S. 12AA]

Vikram Krishnan v. PCIT (2020) 114 taxmann.com 196 (Delhi) (HC) Editorial : SLP of assessee is dismissed Vikram Krishnan v. PCIT (2020) 269 Taxman 477 (SC)

S. 2(22)(e) : Deemed dividend-Advance received-Not able to establish for purchase of land-Assessable as deemed dividend.