S. 32 : Depreciation-Set-off of unabsorbed depreciation against its current year income from house property and income from other sources. [S. 22,32 (2), 56]
DCIT v. Regency Property Investments (P.) Ltd. (2019) 179 ITD 584 (Mum.)(Trib.)
Digest of case laws
Online digest of latest case laws
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
Click here to download the pdf versions of the Digest of case laws S. 28(i) : Business income-Charge of income-tax–Mutuality– Commercial concern–Principle of mutuality is not applicable-Income is chargeable as business income. [S. 4]
Yum! Restaurants Marketing (P.) Ltd. v. ITO (2019) 179 ITD 480/(2020) 190 DTR 84/ 205 TTJ 124(Delhi)(Trib.)S. 28(i) : Business income-Letting out shopping mall/business centres by providing host of services/facilities/amenities– Income derived assessable as business income and not as income from house property. [S. 22]
DCIT v. ATC Realtors (P.) Ltd. (2019) 178 ITD 293/184 DTR 1 (Guwahati) (Trib.)S. 11 : Property held for charitable purposes-Educational institution-Income received from sale of property – Application for application of income was not made – Denial of exemption is held to be justified. [S. 11(2)]
Universal Education Foundation v. ADIT (2019) 178 ITD 446 / 202 TTJ 233/ 183 DTR 462(Mum.)(Trib.)S. 4 : Charge of income-tax–Diversion of income by overriding title-Obligation to spend on AMP arose after receipt of income–No obligation to spent definite amount–Application of income-Chargeable to tax. [S. 28(i)]
Yum! Restaurants Marketing (P.) Ltd. v. ITO (2019) 179 ITD 480/(2020) 190 DTR 84/ 205 TTJ 124 (Delhi)(Trib.)S. 4 : Charge of income-tax–Capital or revenue-Compensation for termination of lease-Loss of source of income–Capital receipt not to chargeable to tax. [S. 45]
Butterfly Marketing P. Ltd. v. DCIT (2019) 179 ITD 431 (Chennai) (Trib.)S. 2(22)(e) : Deemed dividend-Trade advance-Commercial transaction-Not assessable as deemed dividend.
Asian Business Connections (P.) Ltd. v. DCIT (2019) 179 ITD 595 / )2020) 204 TTJ 286 (Indore)(Trib.)S. 183 : Declaration of income-Benamidar–Misrepresentation–No provision for granting an opportunity of hearing–Cancellation of declaration is held to be valid. [S. 193, PBPT Act. 1988, S. 24(4)]
Ankush Jain. v. CIT (2019) 181 DTR 225 / 310 CTR 419 (Delhi) (HC) Vaibhav Jain v PCIT ( 2019) 181 DTR 225/ 310 CTR 419 (Delhi) (HC)/Editorial : SLP of assessee dismissed, Ankush Jain v. PCIT [2020] 113 taxmann.com 519/ 269 Taxman 577 (SCS. 225 : Collection and recovery-Stay of proceedings–Pendency of a appellate and revision proceedings–Tax recovery officer demanded for 50% of tax demand-PCIT directed to pay 20 % of tax demand–On writ High Court directed to pay only 5% of tax in dispute. [S. 226, 264 Art. 226]
JIK Industries Ltd. v. DCIT (2019) 178 DTR 444 / 310 CTR 287 (Bom.)(HC)S. 225 : Collection and recovery-Stay of proceedings–ITAT has granted conditional stay against the recoveries–Sizeable amount was recovered–Contempt-Court directed not to recover further and pending the petition directed the petitioner to approach the ITAT for appropriate relief–Fresh petition was dismissed. [S. 226, 254(1), Art. 226]
Sinhgad Technical Education Society v. DCIT (2019) 176 DTR 315 / 310 CTR 292 (Bom.)(HC)