S. 132 : Search and seizure-Reason to believe-Adequacy of reasons not within scope of judicial review-Writ petition dismissed. [S. 69, 131, 132(1)(bb), 133A]
Sheetal Bamalwa v. UOI (2023)459 ITR 570 (Gauhati)(HC)
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. 115JB : Company-Book profit-Set-off of Loss or unabsorbed depreciation-Entitled to claim set off.
PCIT v. Bangalore International Airport Ltd. (2023)459 ITR 158 /154 taxmann.com 394 (Karn)(HC)S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Resale price method-Matter remanded to Transfer Pricing Officer for fresh determination of Arm’s Length Price. [S.92CA(3)]
Shasun Pharmaceuticals Ltd. v. Dy. CIT (2023)459 ITR 440/(2022) 142 taxmann.com 457 (Mad)(HC)S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Advertising, marketing and promotion expenditure-Principle of consistency applies-Order of Tribunal is affirmed. [S. 92]
PCIT v. Wrigley India Pvt. Ltd. (2023)459 ITR 2 /156 taxmann.com 245 (Delhi)(HC)S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Rejection of comparables based on findings of fact in respect of functional dissimilarities-Interest on receivables-Working capital-Remanding the matter to Assessing Officer-Order of Tribunal is affirmed. [S. 260A]
PCIT v. Qualcomm India Pvt. Ltd. (2023)459 ITR 9 /156 taxmann.com 288 (Delhi)(HC)S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Information must be definite and not vague – Validity of notice can be challenged by filing writ petition .[ S. 147 , 148, 148A(b) 148A(d) , Art. 226 ]
Alkem Laboratories Ltd. v . PCIT (2023)459 ITR 551 /152 taxmann.com 133 / 333 CTR 793 (Pat)(HC)S. 80P : Co-operative societies-Claim for deduction must be made in return filed within time-Return Non est-Not eligible for deduction. [S.80AC, 80A(5), 139(1), 139(4), 142(1)), 148]
Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham v. CIT (2023)459 ITR 730/152 taxmann.com 347 / 333 CTR 655(Ker)(HC)S. 80P : Co-operative societies-Banking business-Interest earned from funds utilised for statutory reserves-Entitle to deduction. [S. 80P(2)(a)(i)]
CIT v. Paschim Banga Gramin Bank (2023)459 ITR 491/(2024) 158 taxmann.com 460 (Cal)(HC)S. 80HHC : Export business-Profits of business-Derived from-Must be derived from export of goods and merchandise-Foreign remittances credited into exchange earners foreign currency account-Gains from foreign currency fluctuations-Not derived from export but independent of export earnings-Cannot be treated as income from business of export eligible for deduction-Interpretation Of Taxing Statutes-Strict construction. [Foreign Exchange Regulation Act, 1973, S.73(3), Notification No. FERA.112/92/RB Dated 12-3-1992(1972) 74 Comp Cas 144 (St)
Shah Originals v. CIT (2023) 459 ITR 385 / 156 taxmann.com 695/ 335 CTR 745 (SC) Editorial : Refer, CIT v. Shah Originals (2010) 327 ITR 19 /191 Taxman 81 / 39 DTR 145 / 232 CTR 228 (Bom)(HC)S. 68 : Cash credits-Advanced by partners of Firm-Unexplained Cash credits cannot be treated as income of firm.[S. 260A]
Nova Medicare v. ITO (2023)459 ITR 477 /150 taxmann.com 363/ 333 CTR 748 (Telangana)(HC)