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. 69C : Unexplained expenditure-Failure to explain source of capitation fee paid to a medical college for admission of son-Addition is held to be justified.

Sushil Bansal v. PCIT (2020) 115 taxmann.com 225 (Delhi) (HC) Editorial : SLP of revenue is dismissed, Sushil Bansal v. PCIT (2020) 274 Taxman 1 (SC)

S. 69A : Unexplained money-Huge cash withdrawal-Failure to explain satisfactorily the source of cash deposit-Addition is held to be justified.

Shashi Garg v. PCIT (2020) 113 taxmann.com 92 (Delhi) (HC) Editorial : SLP of assessee is dismissed, Shashi Garg v. PCIT (2020) 269 Taxman 26 (SC)

S. 69A : Unexplained money-Gift from brother-Received through banking channel-Deletion is held to be justified.

PCIT v. Mubarak Kasam Momin (2020) 117 taxmann.com 133 (Bom.)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. Mubarak Kasam Momin (2020) 272 Taxman 103 (SC)

S. 68 : Cash credits-Share capital-Genuineness of identities of investor companies is established-Deletion of addition is held to be justified.

PCIT v. Emm Vee Infrastructures (India) (P.) Ltd. (2020) 114 taxmann.com 194 (All.)(HC) Editor : SLP of revenue is dismissed due to low tax effect, PCIT v. Emm Vee Infrastructures (India) (P.) Ltd (2020) 269 Taxman 470 (SC)

S. 68 : Cash credits-Commission-Received through banking channels-Deletion of addition by Tribunal is held to be valid. [S. 260A]

PCIT v. Manishaben N. Mashru (2020) 117 taxmann.com 119 (Guj.)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. Manishaben N. Mashru (2020) 272 Taxman 94 (SC)

S. 68 : Cash credits-Share application money-Investment was sufficiently explained-Deletion of addition is held to be justified. [S. 69]

PCIT v. A.I. Developers (P.) Ltd. (2020) 117 taxmann.com 147 (Delhi) (HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. A.I. Developers (P.) Ltd. (2020) 272 Taxman 105 (SC)

S. 45 : Capital gains-Builder-Sale of land kept as investment-Assessable as capital gain and not as business income. [S. 28(i)]

PCIT v. Jogani and Dialani Land Developers and Builders (2020) 117 taxmannn.com 139 (Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Jogani and Dialani Land Developers and Builders (2020) 272 Taxman 111 (SC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid without deduction of tax at source –Second proviso is held to be applicable.

PCIT v. Noida Software Technology Park Ltd. (2020) 113 taxmann.com 144 (Delhi)(HC) Editorial : SLP is granted to the revenue PCIT v. Noida Software Technology Park Ltd (2020) 269 Taxman 10 (SC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payee has shown the income in their return of income-No disallowance can be made.

PCIT v. Shivaai Industries (P.) Ltd. (2019) 112 taxmann.com 404 (Delhi)(HC) Editorial : SLP is granted to the revenue, PCIT v. Shivaai Industries (P.) Ltd. (2020) 269 Taxman 53 (SC)

S. 37(1) : Business expenditure-Capital or revenue-Builder-Brokerage and commission-Held to be allowable as revenue expenditure.

PCIT v. DLF Home Development Ltd. (2020) 114 taxmann.com 97 (Delhi) (HC) Editorial : SLP of revenue is dismissed, PCIT v. DLF Home Development Ltd. (2020) 270 Taxman 97 (SC)