S. 206AA : Requirement to furnish Permanent Account Number-Double taxation avoidance agreement-Rate of tax deductible will be 10 % instead 20%. [S. 90, 195]
DCIT(IT) v. Edgeverse Systems Ltd. (2020) 185 ITD 735 (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. 194I : Deduction at source-Rent-Collection of rent on behalf of Government and paid back to government-Tax deducted by Tenants-Entitle to credit. [S. 199]
Council of Handicrafts Development Corporation v. ITO (2020) 185 ITD 37/196 DTR 14/208 TTJ 935 (SMC) (Delhi) (Trib.)S. 158BE : Block assessment-Time limit-merely passing the prohibitary order without actual seizure-Deemed seizure-Limitation period not extended-Order is held to be barred by limitation. [S. 132, 132(3)]
Narang International Hotels (P.) Ltd. v. DCIT (2020) 185 ITD 324 / (2021) 209 TTJ 694/ 199 DTR 179 (Mum.)(Trib.)S. 158BBC : Anonymous donations-85% of such donation was applied for objects of the Trust-Has to prove the genuineness of donations-Matter remanded to prove genuineness of donations [S. 11, 13]
Shriram Bahuuddeshiya Sevabhavi Sanstha v. ITO (2020) 185 ITD 614 / (2021) 199 DTR 13 / 210 TTJ 269 (Pune)(Trib.)S. 153A : Assessment-Search-Unabated assessment-Addition cannot be made unless incriminating materials are found. [S. 69, 132]
ACIT v. Majestic Commercial (P.) Ltd. (2020) 185 ITD 818 (Kol.) (Trib.)S. 153A : Assessment-Search-Cash credits-Share capital-Share premium-Original assessment was completed-No incriminating materials was found-Addition is held to be not valid. [S. 68, 132]
DCIT v. Bhavya Merchandise (P.) Ltd. (2020) 185 ITD 891 (Kol.) (Trib.)S. 147 : Reassessment-Liabilities taken over by Government of India-No failure to disclose material facts-Reassessment is held to be not justified. [S. 4, 37(1), 43B, 148]
DCIT v. IFCI Ltd. (2020) 185 ITD 742 (Delhi)(Trib.)S. 145A : Method of accounting-Valuation-Interest cost in valuation of inventory-No provision to include interest in cost of inventory.
Ramesh Exports (P.) Ltd. v. DCIT (2020) 185 ITD 551 (Bang.)(Trib.)S. 143(3) : Assessment-Non-Existing entity-Merger-Succession to business otherwise than on death-Order passed in non-existing entity is held to be invalid. [S. 170, 292B]
BASF India Ltd. v. DCIT (2020) 185 ITD 919 (Mum.)(Trib.)S. 115JB : Book profit-Disallowances made under section 14A could not be applied while computing book profit. [S. 14A, R. 8D]
K. B. Mehta Construction (P.) Ltd. v. DCIT (2020) 185 ITD 81 (Ahd.)(Trib.)