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. 37(1) : Business expenditure-Provident fund, contribution to unrecognized provident funds-Allowable as deduction. [S. 36(1)(iv), 40A(9)]

CIT v. Tamilnadu Maritime Board(2021) 131 taxmann.com 250 (Mad.)(HC) Editorial : Notice issued in SLP filed against order of High Court, CIT v. Tamilnadu Maritime Board. (2022) 285 Taxman 283 (SC)

S. 37(1) : Business expenditure-Contractual liability-Expatriate cost-Matter remanded.

AMD Far East Ltd. v. Jt. DIT(IT) (2022) 285 Taxman 332 (Karn.)(HC)

S. 32 : Depreciation-Unabsorbed depreciation-Period of carry forward-In view of amended section 32(2) by Finance Act, 2001 with effect from 1-4-2002, unabsorbed depreciation of assessment year 1997-98 could be allowed to be carried forward and set-off after a period of 8 years. [S. 32(2)]

PCIT v. JCT Ltd. (2022) 285 Taxman 510 (Cal.)(HC)

S. 32 : Depreciation-Extraction and processing of iron ore amounts to production-Entitled for additional depreciation. [S. 32(1)(iia), 32A]

PCIT v. Dhansar Engineering Co. (P.) Ltd. (2022) 285 Taxman 404 (Cal.)(HC)

S. 32 : Depreciation-Generation of electricity-Entitled for additional depreciation. [S. 32(1)(iia)]

PCIT v. Damodar Valley Corporation (2022) 285 Taxman 236 (Cal.)(HC)

S. 32 : Depreciation-Beneficial owner-Car registered in the name of Director-Depreciation, TRO expenses and insurance chrges are allowable as business expenditure. [S. 37(1)]

PCIT v. Asian Mills (P.) Ltd. [2022] 285 Taxman 422 (Guj.)(HC)

S. 32 : Depreciation-School buses-Additional depreciation is not available.

Ebenezer International Foundation v. ACIT (2022) 285 Taxman 52 (Ker.)(HC)

S. 32 : Depreciation-Leased assets-Entitled depreciation.

CIT LTU v. Canara Bank (2022) 285 Taxman 420 (Karn.)(HC).Editorial : Notice issued in SLP filed by Revenue , CIT v. Canara Bank (2022) 287 Taxman 462/ 114 CCH 321 (SC)

S. 32 : Depreciation-Building on lease-Expenditure on construction of building-Capital expenditure-Explanation 1 to section 32(1). [S. 30, 37(1)]

CIT v. K.V. Nellaiappan (2022) 285 Taxman 507 (Mad.)(HC)

S.14A : Disallowance of expenditure-Exempt income-No exempt income earned during the year-No disallowance can be made-When no disallowance is made addition cannot be made to book profi.t [S. 115JB, R. 8D]

PCIT v. Adani Wilmar Ltd. (2021) 133 taxmann.com 443 (Guj.)(HC) Editorial : Notice is iisued in SLP filed by the revenue ; PCIT v. Adani Wilmar Ltd. (2022) 285 Taxman 547 (SC)