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 .14A : Disallowance of expenditure – Exempt income – Not recording of satisfaction – Disallowance was restricted to sum claimed by assessee .[ R.8D ]

United Telelinks (Bangalore) Ltd. v. Dy. CIT (2021) 85 ITR 36 (SN)(Bang) (Trib)/ACIT v. MVL Credits Holdings and leasing Ltd ( 2021 ) 92 ITR 373 ( Delhi ) ( Trib )

S .14A : Disallowance of expenditure – Exempt income – Interest – Interest paid on loans to be set off against interest income from term deposits [ R.8D ]

Sudhir S. Mehta v. Dy. CIT (2021) 85 ITR 8 (SN)(Mum) (Trib)

S. 12AA : Procedure for registration –Trust or institution- Non-payment of taxes not a criteria for denial of registration – Registration is directed to be granted .[ S. 11(1)(d), 12A, 139(4A )] S. 12AA : Procedure for registration –Trust or institution- Non-payment of taxes not a criteria for denial of registration – Registration is directed to be granted .[ S. 11(1)(d), 12A, 139(4A )]

Lad Shakhiya Wani Samaj Kalyan v. CIT(E) (2021)85 ITR 57 (SN)(Pune) (Trib) Shikshan Prasarak Mandal v. CIT(E) (2021)85 ITR 57 (SN)(Pune) (Trib)

S. 12AA : Procedure for registration –Trust or institution-Functioning from Temple premises – Matter remanded – Time limit for passing order granting approval — Period of six months to be calculated from end of month in which application received — Order with in limitation period [ S. 2(15), 80G R. 11AA ]

Bgsal CF Try v .CIT(E) (2021) 85 ITR 51 ( (SN)(Jaipur) (Trib)

S. 10AA : Special economic zones – Additions- Bogus purchases — Enhanced profits- Eligible for deduction

Amrapali Exports v. Dy. CIT (2021) 85 ITR 48 (SN)(Jaipur ) (Trib)

S. 10 (23C): Educational institution- Providing accommodation and food and beverages, Etc – Not commercial activities – Entitle to exemption [ S. 2(15), 10 (23C) (iv) ]

ACIT (E) v. India International Centre (2021) 85 ITR 54 (SN) (Delhi) (Trib)

S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-Undisclosed income-Surrendering additional business income-Levy of penalty at 10 Per Cent. on undisclosed income-No further appeal filed against order-Penalty justified-Difference in valuation-Not undisclosed income-Levy of penalty is not justified. [S. 132(4), 153B(1)(b)]

Sumati Gems v. Dy. CIT (2021) 85 ITR 579 (Jaipur)(Trib.)

S. 271(1)(c) : Penalty-Concealment-Notice not specifying contravention for which issued-Notice defective-Penalty not sustainable.

Texmaco Rail and Engineering Ltd. v. Dy.CIT (2021) 85 ITR 267 (Kol.) (Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Gift deed not registered-Gift of immoveable property from daughter-Revision is held to be without jurisdiction.

Krishna Murari Poddar v. PCIT (2021) 85 ITR 101 (Kol.)(Trib.)

S. 234B : Interest-Advance tax-Non-Resident-No advance tax payable-Interest not leviable up to assessment year 2012-13-Interest could be levied from assessment year 2013-14 onwards. [S. 209(1)(d)]

Huawei Technologies Co. Ltd. v. Add. DIT(IT) (2021) 85 ITR 170 / 187 ITD 782(Delhi)(Trib.)