S. 80IA : Industrial undertakings–Telecommunication business-Net interest earned is eligible for deduction.
PCIT v. Vodafone Essar Gujarat Ltd. (2019) 263 Taxman 632 (Delhi)(HC)S. 80IA : Industrial undertakings–Telecommunication business-Net interest earned is eligible for deduction.
PCIT v. Vodafone Essar Gujarat Ltd. (2019) 263 Taxman 632 (Delhi)(HC)S. 80G : Donation-When registration is granted application u/s. 80G(5) cannot be rejected.[S. 12AA, 80G(5)]
CIT v. Lok Sewa Sansthan Samiti Sonebhadra (2019) 105 taxmann.com 202 / 263 taxman 496 (All.)(HC) Editorial : SLP of revenue is dismissed, CIT v. Lok Sewa Sansthan Samiti Sonebhadra (2019) 263 Taxman 495 (SC)S. 68 : Cash credits–Capitalisation fee–Statement on oath-Search and seizure – Undisclosed income was disclosed–Addition of capitalization fee is held to be not valid. [S. 132(4), 158BC]
R. Bhoopathy v. CIT (2019) 263 Taxman 411/ 176 DTR 239 (Mad.)(HC)S. 68 : Cash credits–Share capital-Two foreign nationals–Directors of the company-Identity of share applicants and genuineness of money infused is established- Deletion of addition is held to be justified.
PCIT v. E -Smart Systems (P.) Ltd. (2019)105 taxmann.com 158 / 263 Taxman 374 (Delhi) (HC) Editorial: SLP of revenue is dismissed, PCIT v. E- Smart Systems (P.) Ltd. (2019) 263 Taxman 373 (SC)S. 45(4) : Capital gains–Retirement-Allotment to a partner of his share in assets of partnership after deduction of liabilities is not transfer – Not liable to capital gains tax. [S. 2(47)(vi)]
National Company v. ACIT (2019) 415 ITR 5 / 263 Taxman 511/ 310 CTR 217 (Mad.)(HC)S. 37(1) : Business expenditure–Cost of print and publicity–cost of production- Feature films -Expenditure were incurred after production and certification of film by Censor Board was received – Not governed by Rule 9A- Allowable as revenue expenditure. [R. 9A 9B]
CIT v. Dharma Productions (P.) Ltd. (2019) 263 Taxman 585 / 308 CTR 809 / 177 DTR 321 (Bom.)(HC)S. 36(1)(vii) : Bad debt-Held to be allowable though the principal amount debited to the principal amount never appeared as a debt on account of trade.
PCIT v. Gujarat Lease Financing Ltd. (2019) 105 taxmann.com 156 263 Taxman 351 (Guj.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Gujarat Lease Financing Ltd. (2019) 263 Taxman 350 (SC)S. 28(i) : Business income-Income from house property–Shopping mall -Commercial exploitation-Facilities and services-Income derived by assessee by letting out shops in mall had to be assessed as income from business and not as income from house property. [S. 22]
CIT v. Oberon Edifices & Estates (P.) Ltd. (2019) 263 Taxman 377/ 311 CTR 815/ 184 DTR 56 (Ker.)(HC)S. 14A : Disallowance of expenditure-Exempt income–AO cannot reject the disallowances offered by the assessee, without adducing any reasons. [R. 8D]
PCIT v. Moonstar Securities Trading and Finance Co. (P.) Ltd. (2019) 105 taxmann.com 274 /263 Taxman 459 (Delhi) (HC) Editorial: SLP of revenue is dismissed, PCIT v. Moonstar Securities Trading and Finance Co. (P.) Ltd. (2019) 263 Taxman 458 (SC)S. 11 : Property held for charitable purposes –Registration granted – AO cannot revisit objects again while examining compliance with S.11 of the Act. [S. 2(15), 12A]
DIT(E) v. Gemological Institute of India (2019) 105 taxmann.com 179 / 263 Taxman 349 (Bom.)(HC) Editorial: SLP of revenue is dismissed on the ground of low tax effect. DIT(E) v. Gemological Institute of India (2019) 263 Taxman 348 (SC)