S. 35D : Amortisation of preliminary expenses-Demerger-Spin Off-Entitled to amortisation of expenses on demerger.
Coforge Ltd. v. ACIT (2021) 436 ITR 546 / 204 DTR 273 / 322 CTR 10 (Delhi)(HC)
Digest of case laws
Online digest of latest case laws
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. 32 : Depreciation-Building-Road-Entitle to depreciation at 10%-Depreciation on property held on lease-Depends on terms of lease-Matter remanded. [S. 32(1)(ii)]
CIT v. Tamilnadu Road Development Company Ltd. (2021)436 ITR 323 (Mad.)(HC)S. 32 : Depreciation-Carry forward and set off-Unabsorbed depreciation on 1-4-2002 can be carried forward and set off without taking into account number of years of such carry forward. [S. 32 (2)]
CIT v. KMC Speciality Hospitals India Ltd. (2021)436 ITR 534/ 283 Taxman 13 (Mad.)(HC)S. 14A : Disallowance of expenditure-Exempt income-No dividend income earned-Disallowance cannot be made [R. 8D]
Tamilnadu Road Development Co. Ltd. v. Dy.CIT (2021) 436 ITR 298 (Mad.)(HC)S. 14A : Disallowance of expenditure-Exempt income-No exempt income-Disallowance cannot be made. [R. 8D]
CIT v. Tamilnadu Road Development Company Ltd. (2021)436 ITR 323 (Mad.)(HC)S. 14A : Disallowance of expenditure-Exempt income-Enhancement of disallowance is held to be not valid. [R. 8D]
CIT v. Sesa Goa Ltd (2021)436 ITR 17 / 203 DTR 97/ 321 CTR 113 (Bom.)(HC)S. 14A : Disallowance of expenditure-Exempt income-Onus on revenue to prove that disallowance was erroneous-Without examining the accounts disallowance is not justified [R.8D]
Coforge Limited v. ACIT (2021) 436 ITR 546 / 204 DTR 273 / 322 CTR 10 (Delhi)(HC)S. 12AA : Procedure for registration-Trust or institution-Bogus donations-Misuse of registered status-Cancellation of registration is held to be justified. [S. 12AA(3), 80G]
CIT (E) v. Batanagar Education and Research Trust (2021) 436 ITR 501 / 204 DTR 217 / 321 CTR 633/282 Taxman 1 (SC) Editorial : Order of High Court in Batanagar Education and Research Trust v. CIT ( E) ( 2021)129 Taxman.com 29 ( Cal ) (HC) ( ITA NO 116 of 2018 dt 8-10 2018) is reversed, Order in Batanagar Education and Research Trust v CIT (E) (2017) 59 ITR 81 (SN) (Kol) (Trib) is affirmed.S. 11 : Property held for charitable purposes-Donation made for other charitable purposes-Entitle to exemption. [S. 2(15)]
DIT(E) v. Shanmuga Arts, Science, Technology and Research Academy (Sastra) (2021)436 ITR 633 / 207 DTR 361 / 283 Taxman 135 (Mad.)(HC)S. 11 : Property held for charitable purposes-Depreciation-Entitle to set off excess application of income of earlier assessment year-Precedent-Commissioner (Appeals and Tribunal must follow the decision of High Court. [S. 2(24), 11(1)(d), 12(1), 32]
Anjuman-E-Himayat-E-Islam v. ADIT (2021) 436 ITR 139 / 201 DTR 337/ 323 CTR 601 (Mad.)(HC)