S. 54 : Capital gains – Profit on sale of property used for residence -Exemption cannot be denied when the property was purchased in the name of spouse . [ S.45 , 54F ]
Rampal Hooda v ITO ( 2020) BCAJ -April – 34 ( Delhi ) (Trib)S. 54 : Capital gains – Profit on sale of property used for residence -Exemption cannot be denied when the property was purchased in the name of spouse . [ S.45 , 54F ]
Rampal Hooda v ITO ( 2020) BCAJ -April – 34 ( Delhi ) (Trib)S. 54 : Capital gains – Profit on sale of property used for residence -Exemption cannot be denied when the property was purchased in the joint name of assessee and others [ S.45 , 54F ]
Subhalakshshmi Kurada v ACIT ( 2020) BCAJ -June – 44 ( Bang) (Trib)S.50CA: Capital gains- Full value of consideration for transfer of share other than quoted shares – Validity of Section 49, 50CA, 56 of Income-tax Act,1961 read with Rule 11U, 11UA etc challenged before Bombay High court. [ S. 49 56 , Rule 11U 11UA ]
The Chamber of Tax Consultants v . UOI ( Bom) (HC) www.itatonline.orgS. 37(1) : Business expenditure –Wholly and exclusively – Salary paid to director- Held to be allowable though the payment made was voluntary .
PCIT v. VVF Ltd ( 2020) 118 Taxmann .com 375 ( Bom) (HC))S. 37(1) : Business expenditure – Service charges to employees- Held to be allowable as business expenditure – The Assessing Officer should not have used the expression “modus operandi” to mean that the assessee had adopted dubious tactics to inflate its expenditure.
New Woodlands Hotel Pvt. Ltd. v. ACIT (2020) 428 ITR 492 / 274 Taxman 468/ 196 DTR 449 ( Mad) (HC) www.itatonline org .S. 35 : Scientific research -Donation- When a valid registration exists while donation was given by the assessee and if at a later point of time such registration is cancelled with retrospective effect , no disallowance can be made [ S.35(1) (ii) ]
Span Realtors v ITO ( 2020 ) BCAJ -September – P. 42 ( Mum) (Trib)S. 10AA : Special economic zones – Profit of eligible unit should be allowed without set off of loss of other units [ S.72 ]
Genesys International corporation Ltd v DICIT ( 2020) BCAJ -April – 34 ( Mum) (Tri)S. 10(37) : Capital gains – Agricultural land – Interest received on enhanced consideration as per Land acquisition Act, 1894 is held to be not taxable [ S .4, 56(2) (viii) Land Acquisition Act , 1894 , S 4, 28, 34 ]
Surender v .ITO ( 2020) BCAJ -June -P 43 ( Delhi) (Trib)Insolvency & Bankruptcy Code, 2016
S. 14:Moratorium- Proceedings for declaration of wilful defaulter can continue pending moratorium under the IBC Law- Writ petition dismissed [ S.29, 39 , Art , 226 ]
Sandip Kumar Bajaj & Ors v SBI MANU/WB/0662/2020 ( Cal ) (HC) www.itatonline .orgProtection of Women from Domestic Violence Act 2005
S. 2(s ): Shared household – Right to stay/reside in the shared household- Daughter in law – gratuitous licences – Order of High Court affirmed [ CPC 151 , Hindu Succession Act 2005 ]
Satish Chnadra Ahuja v .Sneha Ahuja AIR 2020 SC 5397; (2021) 1 SCC 414; MANU/SC/0767/2020 ( SC) www.itatonline.org.