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. 22 : Income from house property-Rent-From installation of antenna tower on the terrace assessable as income from house property and not as income from other sources-Deduction allowable as per S. 24(a) of the Act. [S. 24(a), 56]
Maker Tower Premises Co. Op. Society Ltd. v. ACIT (2021) 187 ITD 653 (Mum.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-No disallowance can be made when exempt income earned during the year-No addition of disallowance under section 14A is called for while computing income under section 115JB of the Act. [S. 115JB, R. 8D]
Vivimed Labs Ltd. v. DCIT (2021) 187 ITD 665 (Hyd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Own interest free funds in the form of share capital and free reserve-Interest disallowance is not justified. [R. 8D]
DCIT v. Century Plyboards (I) Ltd. (2021) 187 ITD 35 (Kol.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Netting of interest expenditure. [R. 8D]
Doha Bank QSC v. DCIT (2021) 187 ITD 125 / 209 TTJ 716 (Mum.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed amount of exempt income. [R. 8D]
Addlife Investments (P.) Ltd. v. DCIT (2021) 187 ITD 591 / 201 DTR 145 (Ahd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Share of loss from the firm-No disallowance can be made if no exempt income is earned. [R. 8D]
Kumar Properties and Real Estate P. Ltd. v. Dy.CIT (2021) 190 ITD 212 / 87 ITR 169 (SN)/ 212 TTJ 227/ 202 DTR 425 (Pune) (Trib.)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during year-No disallowance can be made. [R. 8D]
Dy. CIT v. Dee Development Engineers Ltd. (2021) 87 ITR 38 (SN) (Delhi)(Trib.)
S. 12AA : Procedure for registration-Trust or institution-Accumulation of income-Applied more than 85 per cent. of total income towards charitable purposes-Registration granted by commissioner validly in operation-Form filed requesting for carry forward of amount for utilization in subsequent years, request for carry forward of amount for utilization in subsequent years-Entitled to exemption. [S. 11, 12]
Dy. CIT v. Aligarh Development Authority (2021) 87 ITR 82 (SN) (Delhi)(Trib.)
S. 12AA : Procedure for registration-Trust or institution-Cancellation merely on ground that cut-off specified in the proviso to section 2(15) has exceeded in a particular year held as not sustainable. [S. (2(15), 12AA(3)]
Visakhapanam Port Trust v. CIT (2021) 87 ITR 27 (SN) (Vishakha)(Trib.)
S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-IT support services-Not chargeable to tax-DTAA-India-Swedish. [Art. 12]
Sandvik IT Services AB v. ACIT (2021) 187 ITD 872/ 214 TTJ 293/ 203 DTR 243 (Pune)(Trib.)