S. 32 : Depreciation–Amalgamation-Receipt of the Auditors report subsequently-Directed to allow the depreciation on the basis of Auditor’s report.
CIT v. Poorvanchal Vidyut Vitran Nigam Ltd. (2020) 268 Taxman 132 (All.)(HC)S. 32 : Depreciation–Amalgamation-Receipt of the Auditors report subsequently-Directed to allow the depreciation on the basis of Auditor’s report.
CIT v. Poorvanchal Vidyut Vitran Nigam Ltd. (2020) 268 Taxman 132 (All.)(HC)S. 23 : Income from house property-Annual value–Arrears of rent – Arrears of rent accruing in a prior years, not received in those years, could not be assessed in a subsequent year when same were received as income from house property-Arrears of rent attributable to preceding years cannot be brought to tax under the head income from other sources-Provision of section 25B inserted by Finance Act, 2000 with effect from 1-4-2001 would apply prospectively. [S. 22, 25B, 56]
CIT v. Punalur Paper Mills Ltd. (2020) 268 Taxman 47 (Ker.) (HC)S. 14A : Disallowance of expenditure-Exempt income-Recording of satisfaction-AO has not recorded the satisfaction how the disallowance made by the Assessee is not correct–Deletion of disallowance by the Tribunal is affirmed. [R. 8D]
PCIT v. Keshav Power Ltd (2019) 112 taxmann.com 323 / (2020) 268 Taxman 332 (Delhi) (HC) Editorial: SLP of revenue is dismissed as the tax effect is less than Rs. 2 crores PCIT v. Keshav Power Ltd (2020) 266 Taxman 331 (SC)S. 14A : Disallowance of expenditure-Exempt income-In the absence of any exempt income, disallowance is not permissible. [R. 8D]
PCIT v. Dish TV India Ltd (Bom.)(HC) (UR).S. 12AA : Procedure for registration–Trust or institution- Charitable purpose-Cancellation of registration is held to be not valid- Orders made by the CIT and ITAT are quashed and the registration held by the GIDC is ordered to be revived. [S. 2(15), 11, 12A]
Goa Industrial Development Corporation v. CIT (2020)421 ITR 676 /187 DTR 175/ 313 CTR 589 / 271 Taxman 58 (Bom.)(HC)S. 10(23AAA) : Funds established for welfare of employees-No renewal was required once a Pension fund set up by assessee approved by concerned authority. [S.10(25), 12A]
CIT v. United India Insurance Company Employees Pension Fund. (2020) 268 Taxman 13 / 186 DTR 217 / 313 CTR 65(Mad.)(HC)S. 4 : Charge of income-tax–Capital or revenue–Business of accepting deposits from members and lending the same to non members-Waiver of deposit–Waiver of principal component of deposits and debentures–Capital receipts. [S. 28(i)]
Manipal Sowbhagya Nidhi Ltd. v. Dy.CIT (2019) 112 Taxman.com 325 / (2020) 268 Taxman 330 (Karn.)(HC) Editorial: SLP of revenue is dismissed Dy CIT v Manipal Sowbhagya Nidhi Ltd (2020) 268 Taxman 329 (SC)Central Goods and Services Tax Act, 2017/ Gujarat Goods an Services Act , 2017 .
GST – Search & Seizure- The action of the GST authorities of camping in the assessee’s home for 8 days and placing him under house arrest is illegal & a blatant abuse of powers. It has shocked the conscience of the court.
Appeal – Supreme Court -Condonation of delay- The special leave petition has been filed after a delay of 387 days with further delay of 302 days in refiling- This is one more case which we have defined as “Certificate Cases” – Administration directed to hold an inquiry into the aspect as to who is responsible for such inordinate delay and take suitable action against the officers concerned [ .Limitation Act ,1963, S.5 ]
Administrator, Jammu Municipality & Anr. v. Swarn Theatre and Ors. MANU/SCOR/04882/2020 (SC); www.itatonline.orgS. 254(1): Appellate Tribunal- Duties- Relying on the case laws not cited by both the parties- Not dealing with the case law cited by the representative of the assessee- Matter remanded to the Tribunal to pass the fresh order . [ S.80IB (10) ]
Bhavya Construction Co. v. ACIT (Bom)(HC), www.itatonline.org