This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
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S. 36(1)(iii) : Interest on borrowed capital-Loan advanced to subsidiary out of own funds-No disallowance can be made.

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

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

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

Dy. CIT v. Gorakhpur Infrastructure Co. Ltd. (2021) 92 ITR 42 (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. Madura Garments Lifestyle Retail Co. Ltd. (2021) 92 ITR 11 (SN) (Mum.)(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)]

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

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

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

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

S. 12AA : Procedure for registration-Trust or institution-Running Dharmarth Aushadhalaya, Gaushala, Bhandara and carrying out satsang and bhakti lectures-Charitable activity-Entitle for registration. [S. 2(15) 11, 12A]

Shri Baba Balakpuri Dharmarath Aushadhalaya Trust v. CIT(E) (2021) 92 ITR 1 (SN) (Delhi)(Trib.)

S. 12AA : Procedure for registration-Trust or institution-Dismissal of application without stating any facts-Matter remanded to the CIT(E) to pass an in accordance with law.

Sadhna Ashram Trust v. CIT(E) (2021) 92 ITR 49 (SN) (Delhi)(Trib.)