S. 80G : Donation-Accumulated substantial funds for building construction-No clear alignment with its charitable objectives. [S. 2(15), 12AA]
Gurjar Kalyan Parishad v. CIT (2023) 203 ITD 212 (Delhi) (Trib.)
Digest of case laws
Online digest of latest case laws
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. 69A : Unexplained money-Cash deposits-Demonetization-Sale in the course of business-Addition is deleted.
Arun Manohar Pathak. v. ACIT (2023) 106 ITR 14 / 203 ITD 409 (Mum) (Trib.)S. 68 : Cash credits-AIR information-Interest-Neither claimed credit for interest nor credit for tax deduction at source-Addition is deleted. [S.133(6), 194A]
Balaji Tirupati Buildcon Ltd. v. ITO (2023) 203 ITD 326/(2024)110 ITR 711 (Delhi) (Trib.)S. 68 : Cash credits-long-term capital gain-Sale of equity shares of NCL Research and Financial Services Limited-Penny stock-Capital gains treated as bogus-Denial of exemption is affirmed. [S.10(38) , 45]
Saroj Baid v. ITO (2023) 203 ITD 521 (Kol.)(Trib.)S. 68 : Cash credits-Capital gains-Penny stock-Failure to prove the genuineness-Denial of exemption is affirmed.[S.10(38), 45]
Archana Rajendra Malu. v. ITO (2023) 203 ITD 567 /106 ITR 109 (SN) (Pune) (Trib.)/Rajendra Babulal Malu (HUF) v .ITO (2023) 203 ITD 567 106 ITR 109 (SN) (Pune) (Trib)S. 57 : Income from other sources-Deductions-Failure to comply the various notices-Reasonable cause-Matter remanded-Quantum is remanded back-Penalty is quashed.[S. 56, 271 (1)(c)]
Gauri Dhirenkumar Shah. v. ITO (2023) 203 ITD 293 (Surat) (Trib.)S. 56 : Income from other sources-Share premium-Incorrect report of Chartered Accountant Matter remanded. [S. 56(2)(viib).]
Clearmedi Healthcare (P.) Ltd. v. ACIT (2023) 203 ITD 656 (Delhi) (Trib.)S. 56 : Income from other sources-Allotment of shares at a premium-DCF method-Valuation report of Chartered Accountant-Addition deleted by the CIT(A) is affirmed. [56(2)(viib), R.11U, 11UA]
ACIT v. Lifestyle Probuild (P.) Ltd. (2023) 203 ITD 585 (Delhi) (Trib.)S. 56 : Income from other sources-Share premium-DCF-Net assessed liability method-Assessing Officer cannot change the method of accounting. [56(2)(viib), R.11UA]
Thinkstations Learning (P.) Ltd. v. ACIT (2023) 106 ITR 1 / 203 ITD 384 (Delhi) (Trib.)S. 56 : Income from other sources-Buy back of own shares-Provision of section 56(2)(x) and consequentially rule 11UA would be inapplicable.[S. 56(2)(x), R. 11UA]
DCIT v. Globe Capital Market Ltd. (2023) 203 ITD 758 (Delhi)(Trib.)