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. 271(1)(c) : Penalty–Concealment–Difference in TDS- Agreed addition- levy of penalty is held to be not valid.

Heritage Marketing v. ITO (2018) 171 DTR 402 / 196 TTJ 379 (Chd.)(Trib.)

S. 234B : Interest-Advance tax–Interest is to be computed with respect to total income determined in regular assessment as per definition of assessed tax given in S. 234B of the Act- Matter remanded.[S. 140A]

Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)

S. 145A : Method of accounting–Valuation–Advance Custom duty paid adjusted against excise duty payable–Allowable as deduction- Directed the AO to recast profit and loss account under inclusive method. [S. 43B]

Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)

S. 143(3) : Assessment-Professional income–Year of taxability- Income offered in subsequent year–No loss to revenue–Deletion of addition is held to be justified.[S. 4]

Dy.CIT v. Deloitte Touche Tohmatsu India (P) Ltd. (2018) 193 TTJ 65 (UO) (Mum.)(Trib.)

S. 143(3) : Assessment-Alleged excess consumption-Addition is held to be not justified.

Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)

S. 143(3) : Assessment-Validity-Draft order wrongly titled as assessment order–Objection was not raised before DRP-Validity of assessment cannot be challenged. [S. 92CA, 144C]

Jaipur Rugs Co. P. Ltd. v. DCIT (2018) 64 ITR 128 / 193 TTJ 49 (UO)(Jaipur)(Trib.)

S. 115WB : Fringe benefits–Salary–Contribution to approved super annuation fund–Disallowance is held to be justified. [S. 15]

ACIT v. United India Insurance Co. Ltd. (2018) 67 ITR 191 /195 TTJ 65 (UO) (Chennai) (Trib.)

S. 115JB : Book profit– Not applicable to insurance companies.

ACIT v. United India Insurance Co. Ltd. (2018) 67 ITR 191 /195 TTJ 65 (UO) (Chennai)(Trib.)

S. 92C : Transfer pricing-Arm’s Length Price—royalty for use of brand name— Adjustments held to be not justified.

Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)

S. 92C : Transfer pricing-Arm’s Length Price—AMP expenses incurred by MSIL could not be treated and categorized as international transaction- No adjustment can be made. [S. 92B]

Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)