S. 80HHC : Export business-Turnover-Burden is on assessee to prove that royalty received from subsidiary company related to Export business-Royalty not to be included in turnover for computation deduction. [S. 80HHC(4)]
Fenner (India) Limited v. ACIT (2022) 446 ITR 241 (Mad.)(HC)
Digest of case laws
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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
Click here to download the pdf versions of the Digest of case laws S. 68 : Cash credits-Sale consideration-Burden not discharged-Addition is justified. [Indian Evidence Act, 1872, S. 106]
Joseph Thannikottu Korah v. PCIT (2022) 446 ITR 723 / 213 DTR 185 / 326 CTR 621 (Ker.)(HC)S. 50B : Capital gains-Slump sale-Assets Transfer of undertaking-Not slump sale. [S. 45]
PCIT v. XPRO India Ltd. (2022) 446 ITR 668 / 217 DTR 265/ 328 CTR 593 / 289 Taxman 283 (Cal.)(HC)S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Debts barred by limitation do not cease to be debts-Not to be treated as income. [S. 28(i), Limitation Act, 1963]
PCIT v. Batliboi Environmental Engineering Ltd. (2022) 446 ITR 238 (Bom.)(HC)S. 37(1) : Business expenditure-Electricity charges-Allowable as deduction.
CIT v. Tube Investments of India Ltd. (2022) 446 ITR 676/ 288 Taxman 524 / 220 DTR 383 / 329 CTR 986 (Mad.)(HC)/Editorial : SLP of Revenue dismissed , CIT v. Tube Investments of India Ltd. (2023) 292 Taxman 465 (SC)/ CIT v. Tube Investments of India (P.) Ltd. (2023) 292 Taxman 546 (SC)S. 37(1) : Business expenditure-Capital or revenue-Laying pipelines for treatment of effluents of different industries-Amount spent in getting ISO certification-Revenue expenditure.
CIT(E) v. Narmada Clean Tech Ltd. (2022) 446 ITR 366 (Guj.)(HC)S. 36(1)(vii) : Bad debt-Amounts written off in the books of account-Order of Tribunal is affirmed-Allowable as deduction.
PCIT v. XPRO India Ltd. (2022) 446 ITR 668 / 217 DTR 265/ 328 CTR 593/ 289 Taxman 283 (Cal.)(HC)S. 17(2) : Perquisite-Salary-Valuation-Undertaking owned or Controlled by Central Government-Not Central Government-Cannot claim valuation of perquisites under Rule applicable to Government employees. [S. 15, R. 3, Art. 12, 136]
Indian Institute of Science v. Dy. CIT (2022) 446 ITR 418/ 217 DTR 457/ 328 CTR 621/ 289 Taxman 13 (SC) Editorial : Indian Institute of Science v. DY. CIT (2021) 438 ITR 400 (Karn.)(HC) affirmed.S. 4 : Charge of income-tax-Capital or revenue-Compensation received-Non-achievement of performance parameters-Capital receipt. [S. 28(i), 43(1)]
PCIT v. XPRO India Ltd. (2022) 446 ITR 668 / 217 DTR 265/ 328 CTR 593/ 289 Taxman 283 (Cal.)(HC)S. 4 : Charge of income-tax-Transfer of rights-Transfer is genuine-Set off credit-No evidence-Deletion of addition is valid. [ S. 28(iv) ]
CIT v. Tube Investments of India Ltd. (2022) 446 ITR 676 / 288 Taxman 524 / 220 DTR 383 / 329 CTR 986 (Mad.)(HC). Editorial : SLP of Revenue dismissed , CIT v. Tube Investments of India Ltd. (2023) 292 Taxman 465 (SC)/ CIT v. Tube Investments of India (P.) Ltd. (2023) 292 Taxman 546 (SC)