S. 80G : Donation-No specific time frame mandated for carrying out charitable activities under section 800G(vi) of the Act-Order of Tribunal directing the Commissioner to grant approval is affirmed by High Court-SLP of Revenue is dismissed.- Leaving question of law open.[S. 80G(vi), Art.136]
CIT (E) v. Gangadeen Niranjan Lal Data Charitable Trust (2024) 297 Taxman 294/463 ITR 695 (SC) Editorial : CIT (E) v. Gangadeen Niranjan Lal Data Charitable Trust (2024) 159 taxmann.com 207 / 463 ITR 690 (Raj)(HC)
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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. 80G : Donation-No specific time frame mandated for carrying out charitable activities under section 800G(vi) of the Act-Order of Tribunal directing the Commissioner to grant approval is affirmed by High Court-SLP of Revenue is dismissed.[S. 80G(vi), Art.136]
CIT (E) v. Gangadeen Niranjan Lal Data Charitable Trust (2024) 297 Taxman 294/463 ITR 695 (SC) Editorial : CIT (E) v. Gangadeen Niranjan Lal Data Charitable Trust (2024) 159 taxmann.com 207 / 463 ITR 690 (Raj)(HC)S. 69B : Amounts of investments not fully disclosed in books of account-Undisclosed investments-Order of Tribunal deleting the addition is affirmed.[S. 133(6), 147, 148,250(4), 260A]
CIT (IT) v. Hotchand Techchand Punjabi (2024) 297 Taxman 147 (Delhi)(HC)S. 69A : Unexplained money-Non-resident-Books of account not maintained-Transfer to NRO account-Only source of income in India is from interest on bank account and interest on income tax refund and he was not obliged to maintain any books of account in India-Order of Tribunal deleting the addition is affirmed. [S. 260A]
CIT (IT) v. Hersh Washesher Chadha (2024) 297 Taxman 471 /336 CTR 1 (Delhi)(HC)S. 69 : Unexplained investments-Search and seizure-Jewellery-Painting-Wrist watches-Considering the income shown by the assessee and family-Tribunal deleted the addition-High Court affirmed the order of the Tribunal.[S. 132, 260A]
PCIT v. Nirmal Kumar Minda (2024) 297 Taxman 200 (Delhi)(HC)S. 68 : Cash credits-Sale of gifted jewellery-Order of Tribunal confirming the addition is deleted-Method of accounting-Ad hoc addition-Order of Tribunal is set aside. [S.145 260A]
Sanjay Saha v. CIT (2024) 297 Taxman 345/338 CTR 485 (Cal.)(HC)S. 68 : Cash credits-Un secured loan from Magunta exports-Return showing nil income-Order of CIT(A) confirming the addition is set aside-Matter remanded to the file of the CIT(A). [S. 115BBE, 250, Art.226]
Sohan Raj Khanted Guvanthraj v. CIT (Appeals), NFAC, New Delhi (2024) 297 Taxman 143/337 CTR 978 (Mad.)(HC)S. 68 : Cash credits- Loan from minor sons-Source explained as gift-Brothers have stated that they have not given gift-Addition is affirmed by High Court-SLP dismissed.[Art. 136]
Virendra Behari Aggarwal(Dead) v. CIT (2024) 297 Taxman 378 / 464 ITR 391 (SC) Editorial : CIT v. Virendra Behari Aggarwal (2015) 229 Taxman 193 (All)(HC)S. 56 : Income from other sources-Interest free deposit-Development agreement-Proposal to tax as revenue receipt-On writ court directed the Revenue to drop the proceeding. [S. 143(3), Art. 226]
Coastal Ceramics and Clay Works (P.) Ltd. v. UOI (2024) 297 Taxman 165 /336 CTR 486 (AP)(HC)S. 44BB : Mineral oils-Computation-Presumptive tax-Non-resident-Service tax collected-Not includible in gross receipt-Order of High Court is affirmed-SLP of Revenue is dismissed. [S. 44BB(2)]
CIT (IT) v. Schlumberger Asia Services Ltd. (2024) 297 Taxman 1 (SC.) Editorial: SLP dismissed, CIT(IT) v. B.J. Services Co.Me Ltd (2022) 145 taxmann.com 430/ (2023) 457 ITR 80 (Uttarakhand)(HC)