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. 13A : Political parties-Denial of exemption-Stay-Pendency of matter before Supreme court-Concession made by Revenue, no coercive action of any nature shall be taken against assessee till next date of hearing on 24-7-2024 [S. 11, Art. 136]

Indian National Congress (I) / All India Congress Committee v. CIT (2024) 298 Taxman 749 / 337 CTR 998 (SC) Editorial: Indian National Congress v. Dy.CIT(2024) 160 taxmann.com 359 (Delhi)(HC)

S. 12AB : Registration-Trust or institution-Wrong section code in Form 10A-Rejection of application is set aside-Matter remanded for reconsideration by Commissioner (Exemption).[S.11,Form No 10A, Art. 226]

Parmeswari Bai Memorial Trust v. CIT (E) (2024) 298 Taxman 711 (Orissa)(HC)

S. 11 : Property held for charitable purposes-Capital gains-Memorandum of Understanding (MOU)-Symbolic possession-Permission from the Charity Commissioner-Capital asset is held to be wholly for the purpose of charitable purpose-Legal possession-Sale proceeds were invested with nationalised bank-Entitle to claim exemption-Order of Tribbunal is affirmed-No substantial question of law. [S.11(IA), 260A]

CIT (E) v. Shree Ram Ashram Trust Nashik (2024) 298 Taxman 40 (Bom.)(HC)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Fees for technical services-Revenue from software sales to Indian clients, said revenue could not be treated as royalty and subjected to Indian taxation-DTAA-India-USA [S.9(1)(vii), 195, art. 12, Art.136]

CIT (IT) v. Microsoft Regional Sales Pte.Ltd (2024) 298 Taxman 3 (SC) Editorial : CIT(IT) v. Microsoft Regional Sales Pte.Ltd (2024) 159 taxmann.com 278 (Delhi)(HC)

S. 9(1)(v) : Income deemed to accrue or arise in India-Interest-Banking business-Interest earned by it in India on securities, being beneficially owned by it-Exempt from tax-DTAA-India-Mauritius.[S.90, 260A, art. 11(3)(c)]

CIT (IT) v. HSBC Bank (Mauritius) Ltd (2024) 298 Taxman 54 (Bom)(HC)

S. 5 : Scope of total income-Accrual of income-Charge of income-tax-Real income-Redevelopment agreement-Corpus fund-Not given possession- Capital gains -Not taxable in the year under consideration. [S.2(24), 4, 5, 45, 260A

PCIT v. MIG Co-op. Hsg. Soc. Group II Ltd. (2024) 298 Taxman 284 /467 ITR 524 (Bom.)(HC)

S. 4 : Charge of income-tax-Consideration received for relingiushment of trustee ship-Not capital in nature-Assessable as income-Reimbursements of certain sum for construction expenses-Not taxable in the hands of trustees-Not taxable in the hands of trustees-Donations were received by trusts-Not taxable in the hands of the Trustees. [S. 132, 260A]

PCIT v. Gracy Babu (2024) 298 Taxman 722 /471 ITR 377 /341 CTR 630 / 243 DTR 65 (Ker.)(HC)/Editorial : SLP of assessee is dismissed , Jose Thomas, Etc. v .PCIT (2024)468 ITR 108 / 301 Taxman 170 (SC)

S. 4 : Charge of income-tax-Income-Redevelopment agreement-Amount paid to members of society-Members offered the amount for taxation-Not taxable in the assessee society- Capital gains- Not taxable in the year under consideration [S.2(24),4, 5 , 45 , 56 260A]

PCIT v. MIG Co-op. Hsg. Soc. Group II Ltd. (2024) 298 Taxman 284 / 467 ITR 524 (Bom.)(HC)

Prohibition of Benami Property Transactions Act, 1988 , as amended by Benami Transactions (Prohibition) Amendment Act, 2016

S. 5 : Property held benami liable to confiscation – Provisions of section 5 of Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016 have to be applied prospectively and not retrospectively . [ Art. 226 [

Dy. CIT (Benami Prohibition) v. MARG Ltd. (2024) 298 Taxman 655 (Mad.)(HC)

Chartered Accountants Act, 1949.

S. 21A :Board of Discipline – Professional misconduct – Power of Central Government to make rules – Matter referred to Disciplinary Committee – Reference is held to be valid – Apppeal is dismissed . [S. 21A(4),29A(1) Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 , Rule 9(3)(b) ]

Naresh Chandra Agrawal v. Institute of Chartered Accountants of India (2024) 298 Taxman 91 (SC)