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. 80P : Co-operative societies-A co-operative society registered under Karnataka Souharda Sahakari Act, 1997 would be construed as co-operative society-Entitle to claim benefit. [S. 2(19)]

Government of India Ministry of Finance v. Karnataka State Souharda Federal Co-operative Ltd. (2022] 285 Taxman 529 / 211 DTR 105 / 325 CTR 280 (Karn.)(HC)/Swabhimani Souharda Credit Co -Operative Ltd v . ITO (2022] 285 Taxman 529/ 211 DTR 105/ 325 CTR 280 (Karn) (HC)

S. 80IB(10) : Housing projects-Interest on fixed deposits-Derived from business-No other source of income-Deduction allowable. [S. 2(13), 56, 80IA]

PCIT v. West Bengal Hosing Board (2022) 285 Taxmman 32 (Cal.)(HC)

S. 80IB(10) : Housing projects-Total area exceeded 15000 sq.ft-Not entitle to deedcution. [S. 80IB(10)(c)]

South City Projects (Kolkata) Ltd. v. PCIT (2022) 285 Taxman 696 (Cal.)(HC)

S. 80IB(10) : Housing projects-Amendment brought on 1-4-2020 vide caluses (e) and (f) to section 80IB(10) is prospective in nature-Unaccounted money found in the course of search-Dedcution u/s. 80IB(10) cannot be denied.

Mandavi Builders v. Dy. CIT (2021) 133 taxmann.com 413 (Karn.)(HC) Editorial : SLP is granted to the revenue; DCIT v. Mandavi Builders. (2022) 285 Taxman 4 (SC)

S. 80IB(10) : Housing projects-Prportionate deduction-matter reamnded to the Assessing Officer to adjudicate as to when flats in question were allotted and then to decide claim of assessee.

Mandavi Builders v. Dy.CIT (2022) 135 taxmann.com 119 (Karn.)(HC) Editorial : SLP is granted to the revenue; DCIT v. Mandavi Builders. (2022) 285 Taxman 365 (SC)

S. 69A : Unexplained money-Alterntive remedy-Writ is not maintainable-Stautorty appeal is the remedy. [S. 246A, Art. 226]

Arunachalam Nadar Muthuraj v. ITO (2022) 441 ITR 107/ 285 Taxman 415 (Mad.)(HC)

S. 68 : Cash credits-Bank deposits-Addition as cash credits delted-Income estimates at 2% of total deposits.

PCIT v. Shitalben Saurabh Vora (2021) 133 taxmann.com 441 (Guj.)(HC) Editorial : Notice is issued in SLP filed by revenue; PCIT v. Shitalben Saurabh Vora. (2022) 285 Taxman 549 (SC)

S. 45(3) : Capital gains-Transfer of capital asset to firm-Firm-Partner-Tranfer at book value-Revaluation of asset by firm-Tranfer of land to partnership firm only agreed value agreed between partners at which asset is transferred by a partner to firm has to be considered-Addition cannot be made on notional basis. [S. 10(2A), 147, 148]

PCIT v. Orchid Griha Nirman Pvt. Ltd. (2022) 285 Taxman 368 (Cal.)(HC) Editorial : Order of ITAT, in ITO v. Orchid Nirman (P) (Ltd.) (2016) 161 ITD 818 (Kol.)(Trib.), affirmed.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Commission on sale oof lottery tickets-Amount transferred to retailers-Agents-No obligation to deduct tax while transferring incentives to retail vendors. [S. 194G, 194H]

PCIT v. Usha Murugan (2022) 285 Taxman 122 / 213 DTR 172 / 326 CTR 614 (Ker.)(HC)/PCIT v. Meenakshy Enterprises ( 2022) 285 Taxman 122/ 213 DTR 172/ 326 CTR 614 ( Ker)(HC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-PAN of transporrters are reported in form no 26Q-No disallowance can be made for failure to deduct tax at source-Discount to customers not rent-Failure to deduct tax at source-No disallowance can be made. [S. 194C(6), 194C(7), 194I Form No. 26Q]

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