S. 28(i) : Business loss-Business expenditure-Irrecoverable advances written off-Claim allowable as business loss.[S. 37(1)]
Birlasoft Ltd. v. Asst. CIT (2025) 127 ITR 63 / 173 taxmann.com 634 (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.14A: Disallowance of expenditure-Exempt income-Recording of dissatisfaction mandatory before invoking rule 8D-Addition deleted. [R. 8D]
SLK Software (P.) Ltd. v. Asst. CIT (2025) 127 ITR 395 (Bang.)(Trib.)S.14A: Disallowance of expenditure-Exempt income-Only investments yielding exempt income to be considered-Amendment by Finance Act, 2022 prospective. [R. 8D]
Geecee Ventures Ltd. v. Dy. CIT (2025) 127 ITR 371 / 174 taxmann.com 1285 (Mum.)(Trib.)S. 14A: Disallowance of expenditure-Exempt income-Own funds exceeding investments-No disallowance of interest warranted. [R. 8D]
Dy. CIT v. Bodal Chemicals Ltd. (2025) 127 ITR 194 / 177 taxmann.com 448 (Ahd.)(Trib.)S. 14A: Disallowance-Recording of satisfaction mandatory-Rule 8D cannot be invoked without examining accounts. [S 10(35), 115JB, R. 8D]
Manipal Education and Medical Group India (P.) Ltd. v. Dy. CIT (2025) 127 ITR 623 / 181 taxmann.com 711 (Bang.)(Trib.) Manipal Global Education Services P. Ltd v. Dy. CIT (2025) 127 ITR 623 / 181 taxmann.com 711 (Bang.)(Trib.) Manipal Hospital P. Ltd v. Dy. CIT (2025) 127 ITR 623 / 181 taxmann.com 711 (Bang.)(Trib.)S. 12AB: Procedure for fresh registration-Charitable trust-Final registration-Rejection on technical ground not justified.
[S. 11, 12, 12A(1)(ac)(vi)]
S. 4: Charge of income-tax-Income-Time-share membership fees-Consistent method of recognising income over membership period-Entire receipts not taxable in year of receipt.[S. 145]
Sterling Holiday Resorts Ltd. v. Dy. CIT (2025) 127 ITR 284 / 180 taxmann.com 310 (Mum.)(Trib.)S.271D: Penalty-Takes or accepts any loan or deposit-Receipt of entire sale consideration in cash at the time of execution and registration of sale deed does not violate section 269SS, as the expression “specified sum” applies only to advances received in relation to transfer of immovable property. [S. 269SS, 271D, 274]
Arati Saraf v. Jt. CIT (2025) 131 ITR 337 (Cuttack)(Trib.)S. 263: Commissioner-Revision of orders prejudicial to revenue-
-Assessment was completed after duly examining the issue of unsecured loan-Invocation of revision jurisdiction to verify the same issue is not permissible.[S.36(1)(va), 143(3)]
S. 255: Appellate Tribunal-Procedure-Functions-Right to Information Act-Departmental representative seeking disqualification of assessee’s advocate on ground that advocate represented Tribunal Member as CPIO in an unrelated RTI matter-No conflict of interest-Tribunal not appropriate forum to adjudicate disciplinary matter-Ministry of Law and Justice not having control over judicial functions of Tribunal-Application frivolous, amounting to obstruction of justice-Rejected. [S. 254(1), Art. 227]
Asst. CIT v. Kerry Indev Logistics P. Ltd (2025) 131 ITR 100 (Chennai) (Trib)