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. 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. 14A : Disallowance of expenditure – Exempt income – Rule 8D is not applicable to assessments prior to AY. 2008 -09 [R.8D]

PCIT v. Bank of India ( Bom) (HC) (UR)

S. 14A : Disallowance of expenditure – Exempt income – When there is no exempt income declared during the year no disallowance can be made .[ R.8D(2) (ii) ]

PCIT v .Morgan Stanley India Securities P Ltd (Bom)(HC)(UR)

S. 14A: Disallowance of expenditure – Exempt income – When there is no exempt income declared during the year no disallowance can be made. [R. 8D (2) (ii) ]

PCIT v Khoinoor Project Pvt Ltd ( 2020) 425 ITR 700 / (2021) 276 Taxman 180 (Bom) (HC)

S.11: Exemptions – Trust was not engaged in running the restaurant, bar etc. – Exemption is held to be allowable.

CIT(E) v. Matoshri Arts & Sports Trust. (Bom) (HC) (UR) Editorial: SLP of revenue is dismissed (SLP No.17828 of 2019 dt.26/07/2019)(2019) 416 ITR 127 (St.)(SC)

S.2 (14)(a): Capital asset –Advance given to subsidiary – Loss – Held to be allowable as short term capital loss [S. 2(42A) ,2(47)]

CIT v. Siemens Nixdorf Information Systems Gmbh (2020) 114 taxmann.com 531 (Bom)(HC) Editorial : SLP oof Revenue dismissed , CIT (IT) v. Siemens Nixdorf Information Systemse Gmbh (2023)453 ITR 741 / 293 Taxman 1 (SC)

S. 271F : Penalty-Return of income-Failure to furnish – Refund return-Penalty is not leviable. [S.139(4), 244A]

Rajesh Ajjavara v. ITO (TDS) (2020) 77 ITR 14 (SN) (Bang.)(Trib.)

S. 271D : Penalty–Takes or accepts any loan or deposit–Gift transactions between husband and wife-Levy of penalty is held to be not valid. [S. 269SS, 269T, 271E, 273B]

Savita S. Gangadshetti (Smt.) v. JCIT (2020) 77 ITR 79 (SN) (Bang.)(Trib.)

S. 271D : Penalty–Takes or accepts any loan or deposit–Money returned to father–Receipt of money from family members for medical emergency–Receipt of money from member of association for building school-Neither loan or advances–Levy of penalty is held to be not justified. [S. 269SS, 273B]

Gourang Chandra Nayak v. Jt. CIT (2020) 77 ITR 192 (SN) (Cuttack) (Trib.)

S. 271B : Penalty-Failure to get accounts audited-Not maintaining books of account-Penalty for not getting books audited could not be levied –Penalty for failure to maintain books of account is restricted to Rs. 25000. [S. 44AB, 271A]

Mukti Roy (Smt.) v. ITO (2020)77 ITR 20 (SN) (Kol.) (Trib.)