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-Payment made for reclamation and rehabilitation of mine area-Direction of Supreme Court-Allowable as deduction.

P. Venganna Setty and Brothers v. ACIT (2021) 133 taxman 368 / ( 2022) 192 ITD 541 (Bang.)(Trib.)

S. 37(1) : Business expenditure-Real estate business-Pre-Operative expenses-Set-up of business-General administration and selling expenses are allowable as deduction though no revenue was generated.

Logix Buildtech (P) Ltd. v. ACIT (2021) The Chamber’s Journal-December-P. 68 (Delhi)(Trib.)

S. 37(1) : Business expenditure-Capital or revenue-Lease holder-Repair and maintenance-Allowable as revenue expenditure.

Shree Nirmal Commercial Ltd. v. ITO (2021) The Chamber’s Journal-June-P 128 (Mum.)(Trib.)

S. 36(1)(va) : Any sum received from employees-Provident fund-ESI-Paid before due date of filing of return-Allowable as deduction-Amendments of Finance Act, 2021 to section 43B and 36(1)(va) apply prospectively. [S. 43B]

Crescent Road ways Pvt. Ltd. v. ITO (2021) BCAJ-August-P. 49 (Hyd.)(Trib.)

S. 36(1)(va) : Any sum received from employees-Employees contribution-ESI-Provident Fund-Paid before due date of filing of return-Allowable as deduction. [S. 43B]

DCIT v. Maharashtra Tourism Development Corporation (2021) The Chamber’s Journal-October-P 110) (Mum.)(Trib.)

S. 32 : Depreciation-Good will-Slump sale-Business transfer agreement-Succession, amalgamation, demerger-Depreciation is allowable on good will.

TUV Rheinland Nife Academy Pvt. Ltd. v. ACIT (2022) BCAJ-January-P. 35 (Bang.)(Trib.)

S. 32 : Depreciation-Intangible-Right to collect toll is an intangible asset-Entitle for depreciation at 25%.

BSC C & C Krunnli Toll Road Ltd. v. DCIT (2021) BCAJ-July-P. 49 (Delhi)(Trib.)

S. 24 : Income from house property-Deductions-Property co habited as let out-Interest on borrowed capital-Eligible deduction. [S. 22, 23]

Hima Bindu Putta v. ITO (2021) BACJ-July-P. 50 (Hyd.)(Trib.)

S. 23 : Income from house property-Annual value-Vacancy allowance-Deemed rent-Property which could not be let out during the year annual value would be nil. [S. 22, 23(1)(c), 24(a)]

Puruushotamdas Goenka v. ACIT (2022) BCAJ-January-P. 35 (Mum.)(Trib.)

S. 23 : Income from house property-Annual value-Annual letting value of house property is to be determined on the basis of Municipal rateable value. [S. 22]

Anand J. Jain v. DCIT (2021) BCAJ-May-P. 50 (Mum.)(Trib.)