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. 92C : Transfer pricing-Arm’s length price-Providing internet based medical health related services, a company rendering high end online software solutions, could not be accepted as comparable.

PCIT v. Inductis (India) (P.) Ltd. (2020) 114 taxmann.com 319 (Delhi)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Inductis India (P) Ltd. (2020) 270 Taxman 1 (SC)

S. 80IC : Special category States-Substantial expansion-Entitle to deduction.

SBS Biotech Unit-I v. PCIT (2020) 114 taxmann.com 99 (Himachal Pradesh)(HC) Editorial : SLP of revenue is dismissed PCIT v. SBS Biotech Unit-I (2020) 270 Taxman 173 (SC)

S. 80IB(10) : Housing projects-Undertaken development and construction of housing project on a piece of land which was different from land on which erstwhile promoters had completed construction of houses-Entitle to deduction.

PCIT v. Yash Associates (2020) 115 taxmann.com 425 /423 ITR 215(Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Yash Associates ( 2019 ) 417 ITR 60 ( St) / (2020) 274 Taxman 103 (SC)

S. 80IB(10) : Housing projects-Date of completion of construction
-Separate project-Separate approval was granted-Entitle to exemption.

PCIT v. Kewal Real Estate (P.) Ltd. (2020) 113 taxmann.com 623 (Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Kewal Real Estate (P.) Ltd. (2020) 270 Taxman 175 (SC)

S. 80IB(10) : Housing projects-Completion certificate-Issuance of completion certificate after cut-off date by Local Authority but mentioning date of completion of certificate before cut-off date did not fulfil condition specified in clause (a) of section 80-IB(10) read with Explanation (ii)-Not entitle to deduction. (Order of High Court is stayed)

CIT v. Global Estate (2020) 114 taxmann.com 95 (MP)(HC) Editorial : Operation of the High Court order is stayed Global Estate v. CIT (2020) 270 Taxman 178 (SC)

S. 80G : Donation-Registration-Religious nature-Granting registration is held to be valid. [S. 80G(5)]

CIT v. Rajkot Jilla Gayatri Parivar Trust (2020) 117 taxmann.com 121 (Guj.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Rajkot Jilla Gayatri Parivar Trust (2020) 272 Taxman 99 (SC)

S. 80G : Donation-Exemption cannot be denied on the ground that the assessee is generating surplus and spending only the small portion for charitable purposes-Order of Tribunal is affirmed. [S. 12AA, 80G(5)(vi)]

CIT (E) v. Seth Vinod Kumar Somani Charitable Trust (2020) 113 taxmann.com 142 (P. & H.) (HC) Editorial : SLP of revenue is dismissed, CIT(E) v. Seth Vinod Kumar Somani Charitable Trust (2020) 269 Taxman 59 (SC)

S. 80 : Return for losses-Return filed under old form-Carry forward of loss cannot be denied. [S.139(1)]

CIT v. Zila Sahkari Bank Ltd. (2019) 112 taxmann.com 403 (All.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Zila Sahkari Bank Ltd (2020) 269 Taxman 55 (SC)

S. 73 : Speculation business-Dividend income-Stock in trade-Can be set off against loss suffered in share trading business. [S. 56, 70, 71]

Torrent Finance (P.) Ltd. v. ACIT (2020) 115 taxmann.com 256 (Guj.)(HC) Editorial : SLP of revenue is dismissed, ACIT v. Torrent Finance (P.) Ltd (2020) 272 Taxman 190 (SC)

S. 69C : Unexplained expenditure-Failure to explain source of capitation fee paid to a medical college for admission of son-Addition is held to be justified.

Sushil Bansal v. PCIT (2020) 115 taxmann.com 225 (Delhi) (HC) Editorial : SLP of revenue is dismissed, Sushil Bansal v. PCIT (2020) 274 Taxman 1 (SC)