S. 37(1) : Business expenditure-Provision for wage arrears-Allowable as deduction. [S. 28(i), 145]
CIT v. Metropolitan Transport Corp. (Chennai) Ltd. (2021) 280 Taxman 249 (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. 37(1) : Business expenditure-Manufacturer of sports products-Advertisement-Training to pace bowlers-Allowable as business expenditure.
MRF Ltd. v. Dy. CIT (2021) 280 Taxman 439 (Mad.)(HC)S. 28(va) : Business income-Compensation received for refraining from carrying on competitive business-Capital receipt-Prior to 1-4-2003. [S. 4]
CIT v. M. Ranjan Rao (2021) 280 Taxman 59 (Mad.)(HC)S. 12AA : Procedure for registration-Trust or institution-Capitalisation fee-Misuse of funds-Cancellation of registration is held to be valid. [S. 11, 12, 12A, 12AA(3), Art. 226]
Vellore Institute of Technology v. CIT (2021) 436 ITR 483 / 201 DTR 385 / 320 CTR 799 / 280 Taxman 402 (Mad.)(HC)S. 11 : Property held for charitable purposes-Depreciation-Application of income-Entitle to claim depreciation. [S. 32]
CIT v. Kovai Medical Centre and Educational Trust (2021) 280 Taxman 239 (Mad.)(HC)S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Offshore supply of equipments-Transferred outside India and entire sale was executed outside India-Revenue received therefrom was not to be taxed in India-Basic engineering design services were intrinsically in respect of setting up of Butane-1 plant and same were rendered through project office of assessee in India, consideration received in respect of said basic engineering design services was liable to tax in India as business income of PE of assessee-DTAA-India-France. [Art. 7(1), 12]
Technip Frances SAS, In re (2021) 280 Taxman 117 (AAR)S. 2(22)(e) : Deemed dividend-Loans and advance-Provision is applicable-Matter remanded to Tribunal to decide on merit. [S. 260A]
PCIT v. Gladder Ceramics Ltd. (2021) 280 Taxman 446 / ( 2022) 440 ITR 459 (Guj.)(HC)Chartered Accountants Act, 1949
S. 22 : Professional or other misconduct –Merger – High court appointed the Auditor and report was accepted – Rejection of complaint of the petitioner against the chartered Accountant by the Disciplinary Committee of ICAI is held to be justified . [ Art , 226 ]
Wholesale Trading Services (India) (P.) Ltd. v. ICAI (2021) 280 Taxman 299 (Delhi)(HC)Wholesale Trading Services (India) (P.) Ltd. v. ICAI (2021) 280 Taxman 299 (Delhi)(HC)Direct Tax Vivad Se Vishwas Act, 2020 .
S. 4 : Filing of declaration and particulars to be furnished – Tribunal recalled its order , restored appeal and posted it for fresh hearing- Doctrine of relation back were to be applied- Pendency of appeal of revenue before Appellate Tribunal- Rejection of application is held to be not valid [ Art , 226 ]
Direct Tax Vivad Se Vishwas Act, 2020 .
S. 4 : Filing of declaration and particulars to be furnished – Tribunal recalled its order , restored appeal and posted it for fresh hearing- Doctrine of relation back were to be applied- Pendency of appeal of revenue before Appellate Tribunal- Rejection of application is held to be not valid [ Art , 226 ]
The Direct Tax Vivad Se Vishwas Act, 2020.
S. 4 : Filing of declaration and particulars to be furnished – Appeal with drawn as dismissed .[ S.54B , 260A ]
G. Ramkumar v. DY. CIT (2021) 280 Taxman 143 (Mad.)(HC) Vinay Kumar Maheswari v. ITO (2021) 280 Taxman 32 (Mad.)(HC)