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.28(i): Business income- Income from house property – Shipping agency and warehousing – Activities of the assessee involve more than letting therefore assessable as income from business and not as income from house property-New tangible material hence reassessment is bad in law [ S. 22, 147, 148 ]
Tulsi Shipping ( P) Ltd v. ITO ( 2018) 169 ITD 629 ( Mum) ( Trib)
S. 23 : Income from house property – Annual value – Interest free refundable deposit from tenants- Addition cannot be made in respect of notional interest on refundable deposits. [ S.23(1)(b) ]
ITO v. Altitus Management Advisors (P.) Ltd. (2018) 169 ITD 702 (Mum) ( Trib.)
S.24: Income from house property- Leasing -Interest paid on borrowed loan which was utilised for acquiring property is held to be allowable deduction [ S.24(b) ]
ITO v. Altitus Management Advisors (P.) Ltd. (2018) 169 ITD 702 (Mum) ( Trib.)
S.22: Income from house property -Property leasing – Contributions received from tenants towards sinking fund cannot be assessed as rental income.
ITO v. Altitus Management Advisors (P.) Ltd. (2018) 169 ITD 702 (Mum) ( Trib.)
S. 12AA : Procedure for registration –Trust or institution-Private University, engaged in imparting education, is eligible for registration . [S.2(15) ]
Indus University. v. ACIT (2018) 169 ITD 609 (Ahd) (Trib.)
S.4: Income chargeable to tax – Hindu undivided family (HUF) -Father died intestate – Property inherited as per S.8 of the Hindu Succession Act is assessable in his individual capacity and not as Karta of HUF [ Hindu Succession Act 1956, S.8 ]
Mahaveer Yadav v. ITO (2018) 169 ITD 717 (Jaipur) (Trib.)
S. 12AA : Procedure for registration –Trust or institution-Registration cannot be denied only on the ground that the Trust was formed by company for complying corporate social responsibility requirement [ S.11, 80G ]
Nanak Chand Jain Charitable Trust. v. CIT (2018) 169 ITD 534 (Delhi) (Trib.)
S.37(1): Business expenditure – Entry tax – e-challan containing all relevant details including name of assessee, impugned disallowance was to be deleted, matter was set aside for verification.
ACIT v. Safe Decore (P.) Ltd. (2018) 169 ITD 328 /165 DTR 339 /193 TTJ 898(Jaipur) (Trib.)
S.37(1): Business expenditure –Damages -Expenses on repair of goods returned back on account of low quality was held to be allowable as business expenditure.
EPCOS India (P.) Ltd. v. ITO (2018) 169 ITD 541/ 65 ITR 20 (SN) (Kol) (Trib.)
S.40(a)(ia):Amounts not deductible – Deduction at source –Handling charges paid to shipping agents of non-resident shipping companies was held to be not liable to deduct tax at source, and also the department had already granted exemption certificate to non-resident ship owners . [ S.194C ]
ACIT v. Safe Decore (P.) Ltd. (2018) 169 ITD 328/165 DTR 339 /193 TTJ 898 (Jaipur) (Trib.)