S.37(1): Business expenditure-Product development expenses-Capital or revenue-Finance lease-Depreciation-Matter remanded. [S. 32]
FMC India (P.) Ltd. v. NFAC(2023) 200 ITD 354 (Bang) (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.37(1): Business expenditure-Pharmaceutical company-Gifting freebies to dealers and stockiest-Disallowance is not justified-Cannot be disallowed as unexplained expenditure. [S.69C]
DCIT v. Curosis Healthcare (P.) Ltd. (2023) 200 ITD 431 (Jaipur) (Trib.)S. 36(1)(va): justified-Any sum received from employees-Employee’s contribution-Belated payment-Not entitle to deduction. [S.143(1)(a)]
Kwality Motel Shiraz 1. v. ADIT (2023) 200 ITD 402 (Indore) (Trib.) Ocean Exim India (P.) Ltd. v. ITO (2023) 200 ITD 366 (Jaipur) (Trib) Prashanti Engineering Works (P.) Ltd. v. ADIT (2023) 200 ITD 408 (Indore) (Trib.)/Ansal Housing Ltd. v. DCIT (2023) 202 ITD 71 (Delhi) (Trib.) Sentinel Consultants (P.) Ltd. v. ACIT (2023) 202 ITD 154 (Delhi) (Trib.) Parminder Kumar. v. ITO (2023) 202 ITD 472 (Delhi) (Trib.) ACIT v. Silkasia. (2023) 202 ITD 542 (Mum) (Trib.)S. 35 : Expenditure on scientific research-Shell companies-Reports of Investigation Wing-Exemption cannot be denied on the ground that donations made by assessee were further given to shell companies. 35(1)(iii), 35AC]
Gajraj Tradecom (P.) Ltd. v. DCIT (2023) 200 ITD 474 /102 ITR 80 (SN) (Kol)(Trib.)S. 24 : Income from house property-Deductions-Mall construction-Interest on loan-Optionally convertible debentures (OCDs) to repay outstanding Loan-Allowable as deduction. [S. 22, 24(b)]
DCIT v. Aryan Arcade (P.) Ltd. (2023) 200 ITD 176/ 223 TTJ 521/ 225 DTR 153 (Rajkot) (Trib.)S. 23 : Income from house property-Annual value-Joint ownership-Co-owner-Annual letting value at 8 per cent of cost of property-Revenue is justified in bringing to tax 50 per cent of income from house property in hands of assessee.[S. 22, 23(1)(a)]
Shivani Madan.(Smt.) v. ACIT (2023) 200 ITD 198 (Delhi) (Trib.)S. 12AB: Procedure for fresh registration-Replied all issues raised by Commissioner-Not justified in denying registration. [Companies Act, 2013, S.8]
Keeday Makauday Foundation. v. CIT (2023) 200 ITD 39 (Jaipur) (Trib.)S. 12AA : Procedure for registration-Trust or institution-Diverting income in hands of trustees-Not entitle to registration. [S.11, 12A]
Sh. Gurudwara Sahib Parbhandhan Committee. v. CIT (2023) 200 ITD 589 (Amritsar) (Trib.)S. 12A : Registration-Trust or institution-Cancellation of registration-Capitation fees-Siphoned off by trustees for their personal benefits-Search-Cancellation of registration is held to be justified. [S. 12AA]
Sinhgad Technical Education Society. v. PCIT (2023) 200 ITD 183/226 TTJ 114 (Pune) (Trib.)S. 11 : Property held for charitable purposes-Education-promotion of science and technology by developing science city project-Activities carried out by assessee being primarily run as a science museum did not qualify as education and order of Commissioner (Appeals) holding so was to be set aside-Activities carried out by assessee were not in nature of imparting education, but were in nature of general public utility activities-Matter remanded to the Assessing Officer. [S. 2(15)]
DCIT v. Gujarat Council of Science City. (2023) 200 ITD 780 (Ahd) (Trib.)