S. 11 : Property held for charitable purpose-A Statutory body established for acquisition of land for Industrial Infrastructure- Operating on non profit basis-Entitle to exemption. [S. 2(15), 32]
ACIT v. Karnataka Industrial Areas Development Board (2020) 80 ITR 1 (SN) (Bang.)(Trib.)
Digest of case laws
Online digest of latest case laws
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. 10AA : Special economic zones-Trading covered by Services under Special Economic Zones Act, 2005-Entitle to deduction-Special Economic Zones Act, 2005 has overriding effect over provisions contained in any other Act. [Special Economic Zones Act, 2005, S. 2(z), 51]
Dy. CIT v. Dutyfree Distribution Services Pvt. Ltd. (2020) 80 ITR 32 (SN.) (Mum.)(Trib.)S. 254(2A): Appellate Tribunal –Stay- Any order of stay shall stand vacated after the expiry of the period or periods mentioned in the Section only if the delay in disposing of the appeal is attributable to the assessee.[ Art . 14 ]
Dy.CIT v. Pepsi Foods Ltd. (Now Pepsico India Holdings Pvt . Ltd.) (SC) www.itatonline.orgS.153D:ASSESSMENT – SEARCH -APPROVAL – APPROVAL HAS TO BE GIVEN EACH ASSESSMENT YEAR BY PROPER APPLICATION OF MIND – MECHANICAL APPROVAL IS HELD TO BE BAD IN LAW . [ S.132
SANJAY DUGGAL V. ACIT (DELHI)(TRIB), WWW.ITATONLINE.ORGS. 17(2:PERQUISITE – ESOP BENEFITS GRANTED TO AN ASSESSEE WHEN HE WAS RESIDENT AND IN CONSIDERATION FOR SERVICES RENDERED IN INDIA IS TAXABLE EVEN THOUGH THE ASSESSEE IS A NON-RESIDENT IN THE YEAR OF EXERCISE- DTAA -INDIA – UAE [ S.15 , ART .15 ]
V. S. Unnikrishnan v. ITO (IIT ) (2021) 86 ITR 11 (SN)/ 198 DTR 73/ 209 TTJ 681 (Mum)(Trib). www.itatonline.orgS. 153A : Assessment – Search-Assessment on the basis of alleged incriminating material (being the statement recorded under 132(4) of the Act) is not valid. The Assessee also had no opportunity to cross-examine the said witness [ S. 132 , 153C ]
PCIT(C)-3 V. ANAND KUMAR JAIN (HUF) (DELHI)(HC), WWW.ITATONLINE.ORGS. 271AAB : Penalty – Search -Undisclosed income –Levy of penalty not mandatory – Opportunity of hearing must be given – No assessment required for initiation of penalty- Since, the assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been initiated on the basis of undisclosed income found during such search action, the appeal of the assessee stands allowed- Levy of penalty deleted [ S. 132 ]
Shiv Bhagwan Gupta v. ACIT (Pat ) (Trib) www.itatonline.orgConstitution of India
Art .32 : Remedies for enforcement of rights conferred by this part – COVID -19 -Waiver of interest – Economic and fiscal regulatory measures are a field where Judges should encroach upon very warily as Judges are not experts in these matters. In assessing the propriety of the decision of the Government the court cannot interfere even if a second view is possible from that of the government. Legality of the policy, and not the wisdom or soundness of the policy, is the subject of judicial review.
S. 90: Foreign tax Credit – Not allowed as refund – Deduction of taxes paid – Allowed in computation -DTAA- [S. 28(1), 37(1), 91; Art, 24]
Bank of India v. ACIT ( 2021 ) 201 DTR 1 / 210 TTJ 649 ( Mum) (Trib) www.itatonline .orgS. 195 :Deduction at source – Non-resident – Other sums – Amount received for supply of software – Not liable to deduct tax at source
DTAA -India [ Art , 12 , 9 (1)(vi), Art, 12 ]