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. 145A : Method of accounting in certain cases-Valuation of stock-Valuation of inventories, net of CENVAT-Method followed consistently-No addition could be made on account of CENVAT credit.

DCIT v. Adani Mining (P.) Ltd. (2024) 204 ITD 269 (Ahd)(Trib.)

S. 145 : Method of accounting-Percentage completion method-No defects in the books of account-No addition can be made on the basis of projected revenue during the proceedings under section 197.[S. 197]

ST Engineering Electronics Ltd. v. ACIT, IT (2024) 204 ITD 216 (Chennai) (Trib.)

S. 143(3): Assessment-Document Identification No (DIN)-No DIN number was mentioned in the assessment order-Assessment order is invalid-Subsequent separate communication of DIN would be a superfluous exercise.[S. 119]

Harjeet Singh. v. ACIT (2024) 204 ITD 572/207 TTJ 275 (Delhi) (Trib.)

S. 92B : Transfer pricing-International transaction-Arm’s length price-Avoidance of tax-Distributor of products manufactured by its AE-AMP expenditure incurred in India to promote brand-Not constitute international transaction requiring any TP adjustment.[S.92C]

Kellogg India (P.) Ltd. v. ACIT (2024) 204 ITD 441 (Mum) (Trib.)

S. 80P : Co-operative societies-Interest-Co-Operative banks and other nationalised banks-Eligible for deduction. [S.80P(2)]

ITO v. Yendagandhi Large Sized Co-operative Society Ltd. (2024) 204 ITD 203 (Vishakapatnam) (Trib.)

S. 144C : Reference to dispute resolution panel-Final assessment order was passed by AO beyond period of one month from end of month in which direction of DRP was received-Assessment order was time-barred and void ad initio. [S. 144C(13)]

Lubrizol Advanced Materials India (P.) Ltd. v. Assessment Unit (ITD) (2024) 204 ITD 130 (Mum) (Trib.)

S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-No deduction is claimed-Disallowance cannot be made. [S.80IA(7)]

ACIT v. Chittorgarh Kota Tollway (P.) Ltd. (2024) 204 ITD 223 (Ahd)(Trib.)

S. 80G : Donation-Education-Only one object-Application by an inadvertent error, it had mentioned all three objects of trust deed-Matter remanded back for fresh adjudication. [S. 10(23C)(vi), 80G, Form No 10AB, 10AC.]

Thirumurugan Kalvi Arakkattalai. v. CIT (2024) 204 ITD 543 (Chennai) (Trib.)

S. 80G : Donation-Registration-Denial of approval-Not obtained in the past-Activities were commenced in the year 1984-Application cannot be rejected as treated as time barred. [S.12AB, 80G(5),Form No. 10AD]

Navsari Surat Aththavisi Modh Chaturvedi Brahmin Ghyati Samast. v. CIT (2024) 204 ITD 537 (Surat) (Trib.)

S. 80G : Donation-Trust registered under section 12A-Providing charitable activities-Denial of approval under section 80G(5) is not justified. [S.80G(5) Companies Act, 2013, S. 8]

Olive Development Foundation. v. CIT (2024) 204 ITD 12 (Mum) (Trib.)