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. 115JB : Book profit – Provision is not applicable to foreign companies

AB Holdings, Mauritius-Ii, In re. (2018) 402 ITR 37/ 163 DTR 225 (AAR)

S. 115JB : Book profit – Provision is not applicable to foreign companies

“AB” Mauritius, In re (2018) 402 ITR 311/ 163 DTR 170 (AAR)

S. 115JB : Book profits – Non-Resident — Preparation of accounts under Special Acts — Minimum Alternate tax Provisions was held to be not applicable.

Bank of Tokyo-Mitsubishi, UFJ Ltd. v. DCIT (2018) 61 ITR 272 (Delhi) (Trib)

S.115JB:Book profits – Depreciation-AO has no power to make adjustment other than the adjustment as provided in Explantion1

DCIT v. Cauvery Aqua Pvt. Ltd. (2018) 61 ITR 734 (Bang) (Trib)

S. 115JB : Book profits – Exempt income – Disallowance under section 14A can be invoked while computing book profit is a question of law [ S.14A, 260A ]

CIT v. Reliance Industries Ltd ( 2018) 161 DTR 420// ( 2019) 410 ITR 468 ( Bom) (HC)

S. 115BBC : Anonymous donations – Donor denied having given any donation to trust hence addition was held to be justified [ S. 10(23C) ]

ACIT v. Gurudatta Shikshan Sanstha. (2018) 168 ITD 191 /192 TTJ 191 /165 DTR 70 (Pune) (Trib.)

S. 112 : Tax on long term capital gains -Non-residents – Concessional rate of tax — Long-term capital gains arising on sale of equity shares in Indian listed company to be taxed at 10.506 Per Cent., inclusive of surcharge and cess . [ S. 45 ]

Finnish Fund For Industrial Co-Operation Ltd., In Re (2018) 402 ITR 373/ 301 CTR 705/ 164 DTR 105 (AAR)

S. 94 : Transaction in securities –loss on shares- Avoidance of tax by certain transactions in (Purchase and sale of bonds) –Transaction was not in the course of business hence provision of S.94(1) can not be applied [ S. 94(4) ]

DCIT v. Growmore Leasing & Investment Ltd. (2018) 168 ITD 1 (Mum) (Trib.)

S. 93 : Transactions resulting in transfer – Non-residents -Capital gains- For invoking S.93 to tax a resident, there should be transfer of assets by a resident to non-resident, and not where a non-resident had transferred assets to a resident- DTAA- India – Mauritius [ S. 90, 201(1), 201(IA) , Art ,13(4) ]

Tata Industries Ltd. v. ACIT (2018) 168 ITD 340/ 164 DTR 17/ 192 TTJ 541 (Mum) (Trib.)

S. 92C : Transfer pricing – Arm’s length price -Selection of comparables — Various methods explained .

DCIT v. Verisign Services India Pvt. Ltd. (2018) 61 ITR 315 (Bang) (Trib)