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. 4 : Charge of income-tax-Compensation-Acquisition of non- Agricultural land-Corporation of Kochi-Compensation received is held to be not taxable. [Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, S. 96, Land Acquisition Act, 1894]

M. Vishwanathan v. CCIT (2020) 116 taxmann.com 894 / 274 Taxman 411 (Ker.)(HC)

S. 2(22)(e) : Dividend-Deemed dividend-Loan by subsidiary company to holding company-Business purposes-Loan cannot be treated as deemed dividend-No question of law. [S. 260A]

CIT v. ACCEL Ltd. (2020) 429 ITR 36 / 273 Taxman 424 (Mad.)(HC)

Right to Information Act, 2005

2.(j): Right to information – Tax Informer — Tax evasion petition- Not entitled to information regarding progress of investigation following his report.[ Black Money ( Criminal Procedure Code , S. 482, Undisclosed Foreign Income and Assets) and Imposition of Tax Rules Act , 2015 , S. 51, 55 ]

PDIT( Inv) v. Rajiv Yaduvanshi (2020)429 ITR 369 (Delhi)(HC)

Wealth-Tax Act , 1956

S.27A: Appeal -High Court – Monetary Limit — Applicable to wealth tax Appeals . [ S. 2(e ), IT Act , S.260A ]

CIT v. Sushila Devi Kejriwal (Smt.) (2020) 429 ITR 552 ( 2021 ) 201 DTR 333(Mad)(HC) PCIT v. M. Balasubramaniam (2020)429 ITR 556 (Mad)(HC)

Wealth-Tax Act , 1956

S. 2(e ) (a) : Asset — Urban land — Urban land on which construction has been prohibited — Not an asset for purposes of wealth -Tax .[ S.16(3) ]

PCIT v. M. Balasubramaniam (2020)429 ITR 556/ ( 2021 ) 201 DTR 333 (Mad)(HC) CIT v. Sushila Devi Kejriwal (Smt.) (2020) 429 ITR 552 (Mad)

S. 43D : Public financial institutions -Accrual of income — Non-Banking financial company —Interest on non-performing assets — Cannot be assessed on accrual basis . [ S. 36(1) (vii), 36(1)(viia) ]

Bhind District Co-Operative Central Bank Ltd. v Income-Tax Department (2019) 177 DTR 196/309 CTR 316/ (2020)429 ITR 121 (MP) (HC)

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record – For computing the period of limitation the date of service of the order to be considered and not the date of the order [ S.254(3)]

Anil Kumar Nevatia v.ITO ( 2021) The Chamber’s Journal – February – P. 165 ( ( Cal) (HC)

S. 237 : Refund -Excess deposit of advance tax – Mistake in the preparation of challan – Refund can be claimed only after due course of law . [ Art . 226 ]

Seema Jain ( Smt) v. PCIT ( 2021) The Chamber’ s Journal – February – P. 170 ( MP) (HC)

S. 192 : Deduction at source – Salary – Leave travel allowance – Failure to deduct at source – Travel to foreign country and as well as to destinations in India in a composite itinerary -Cannot be considered as assessee in default for failure to deduct tax at source [ .S.10(5) ]

State Bank of India v .ACIT ( 2021) 123 taxmann.com 447 ( Mum) (Trib)

S. 90 :Double taxation relief – Notification dated 18 -7 -2005 – Reducing the tax rate from 15% to 10% – Applicable for the entire year – DTAA- India – Singapore [ Art . 12 ]

DIT v. Autodesk Asia Pvt Ltd ( 2020) 275 Taxman 319/ 120 taxmann.com 324 / ( 2021) The Chamber’s Journal – February -P. 167 ( Karn) (HC)