S. 35 : Scientific research-Expenditure on scientific research is held to be allowable as deduction-Order of Tribunal is affirmed. [S. 35(2AB)]
CIT v. Rajapalayam Mills Ltd. (2019) 265 Taxman 209 (Mad.)(HC)S. 35 : Scientific research-Expenditure on scientific research is held to be allowable as deduction-Order of Tribunal is affirmed. [S. 35(2AB)]
CIT v. Rajapalayam Mills Ltd. (2019) 265 Taxman 209 (Mad.)(HC)S. 28(i) : Business income–Leasing the hotel and charging one percentage of total revenue–Assessable as business income and not as income from house property.[S. 22, 23]
CIT v. Plaza Hotels (P.) Ltd. (2019) 107 taxmann.com 287 / 265 Taxman 90 (Bom.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Plaza Hotels (P.) Ltd. (2019) 265 Taxman 89 (SC)S. 12AA : Procedure for registration–Trust or institution-Running of college and educational institutions-Denial of registration is held of be not valid. [S. 10(23C)(vi)]
CIT v. Khatu Ji Para Medical Technology Educational & Research Society. (2019) 264 Taxman 300 (P& H) (HC)S. 10A : Free trade zone–Deduction is to be allowed before allowing set off of looses of earlier years–Expenses reduced from export turn over has to be reduced from total turn over.
PCIT v. Infosys BPO Ltd. (2019) 107 taxmann.com 56 / 264 Taxman 290 (Karn.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Infosys BPO Ltd. (2019) 264 Taxman 289 (SC)S. 10A : Free trade zone-Loss of another unit cannot be set off against the profit of unit eligible for deduction.
CIT v. Russan Pharma Ltd. (2019) 197 taxmann.com 111 / 265 Taxman 2 (Bom.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Russan Pharma Ltd. (2019) 265 Taxman 1 (SC)S. 10(23C) : Educational institution-Child education-Annual receipts from fee, interest and addition as cash credits exceeded Rs one crore–Prior approval was taken by CCIT–Denial of exemption is held to be justified. [S. 10 (23C)(iiad), 68]
Satluj Shiksha Samiti v. CIT (2019) 264 Taxman 315/ 311 CTR 244 (P&H)(HC )S. 28(i) : Business loss – Loss on revaluation of permanent category investments – Held to be allowable as business loss [ S.260A ]
PCIT v. State Bank of India ( 2019) 181 DTR 275 / (2020) 420 ITR 376/ 314 CTR 542 (Bom)(HC),www.itatonline.orgS.28(1): Business loss – Lawyer- Foreign exchange loss-Cash system of accounting -No addition is warranted [ S.145 ]
Harish Narinder Salve v. ACIT ( 2019) 181 DTR 121 / 74 ITR 21 (SN)/178 ITD 800 ( Delhi)(Trib),www.itatonline.orgS. 68(2) : Certificate issued under scheme final-Amount mentioned in certificate cannot be assessed as undisclosed income. [S. 158BC, 158BD]
CIT v. Purshottamdas P. Patel (2019) 416 ITR 417/ 182 DTR 402 (Guj.)(HC)S. 281B : Provisional attachment-Recovery of tax-Over 21 Per Cent. of demand already collected-Assessments concluded-No justification to continue with provisional attachment. [S. 226(3)]
Dabur Invest Corp. v. ACIT (2019) 416 ITR 282/ 181 DTR 328/ 310 CTR 591/ 266 Taxman 207 (Delhi)(HC)