S. 69 : Unexplained investments-Survey-Wrongly included in payment-Deletion of addition is held to be justified. [S. 133A]
ACIT v. Windsor Realty Pvt. Ltd. (2020) 204 TTJ 493 (Mum.)(Trib.)
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. 69 : Unexplained investments-Survey-Income surrendered in the form of additional stock-Section 115BBE is not applicable-Rectification is not valid. [S. 115BBE, 133A, 154]
Pawan Kumar (HUF) v. ITO (2020) 190 DTR 366 / 205 TTJ 810 (SMC) (Jodhpur)(Trib.)S. 68 : Cash credits-Creditworthiness and genuineness of transaction proved-Deletion of addition is held to be justified.
DCIT v. R.M. Commercial Pvt. Ltd. (2020) 204 TTJ 940 (Kol.)(Trib.)S. 68 : Cash credits-Long term capital gains-Accommodation entries-Transactions were proven bogus by revenue-Addition as cash credits justified. [S. 45, 10(38)]
Suman Poddar v. ITO (2020) 191 DTR 19 / 206 TTJ 393 (Delhi)(Trib.)S. 68 : Cash credits-Compensation-Land acquisition-Land held as stock in trade-Not undisclosed income. [S. 143(3)]
Caprihans India Ltd. v. Dy.CIT (2020) 203 TTJ 450 (Mum.)(Trib.)S. 57 : Income from other sources-Deductions-Deduction of payment of interest made to earn interest income-Allowable as deduction. [S. 56, 57(iii)]
ACIT v. Career Point Infra Ltd. (2020) 207 TTJ 1 (UO) (Jaipur)(Trib.)S. 56 : Income from other sources-DCF method-Substantiated value of shares issued by fair market value which was more than issue price-Addition cannot be made. [S. 56(2)(viib), 68]
Nabh Multitrade Pvt. Ltd. v. ITO (2020) 208 TTJ 787 /(2022) 214 DTR 194 (Jaipur)(Trib.)S. 56 : Income from other sources-No fresh money received during the year-No addition can be made. [S. 56(1)]
Dy.CIT v. BMI Whole sale Trading (P.) Ltd. (2020) 203 TTJ 797 (Mum.)(Trib.) Dy.CIT v. Brand Marketing (India) (P) Ltd. (2020) 203 TTJ 797 (Mum.)(Trib.)S. 56 : Income from other sources-Income from house property-Leasing of workstations-Where the letting was inseparable-Income shall be treated under head income from other sources and not as income from house property. [S. 22, 24(a)]
Telekan Media (P) Ltd v. ITO (2020) 194 DTR 1 / 207 TTJ 383/ 81 ITR 3 (SMC) (Delhi)(Trib.)S. 56 : Income from other sources-Valuation report-Appointment of independent valuer-DCF method for valuation to be followed-Matter remanded. [S. 56(2)(viii)(b)]
VBHC Value Homes P. Ltd. v. ITO (2020) 192 DTR 129 / 206 TTJ 595 (Bang.)(Trib.)