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. 28(i) : Business loss-Converted a part of loan into equity shares-Exchange of one asset to another asset-loss incurred on conversion of such loan into equity shares is allowed as business loss. [S. 36(1)(vii)]

DBS Bank Ltd. v. DCIT (2025)210 ITD 448(Mum)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-stock in trade-No disallowance can be made.[R. 8D]

DBS Bank Ltd. v. DCIT (2025)210 ITD 448(Mum)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-Sufficient interest free funds-Investment in securities-Disallowance is deleted.[R.8D]

DCIT v. ICICI Bank Ltd. (2025)210 ITD 643 (Mum)(Trib.)

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Own case for earlier assessment years, exemption under section 11 was allowed-No change of facts-Exemption is allowed. [S.11, 13(1)(c)]

DCIT v. CMR Jnanadhara Trust. (2025) 210 ITD 519 (Bang) (Trib.)

S. 12A : Registration-Trust or institution-Procedure for fresh registration-Failure to reply show cause notice-Matter remanded back to Commissioner (Exemption) with a direction to grant one final opportunity to assessee to substantiate its case by filing requisite details. [S.12AB]

Jalna Maheshwari Charitable Foundation v. CIT (E) (2025)210 ITD 665 (Pune)(Trib.)

S. 10AA : Special Economic Zones-Transfer pricing adjustment-Eligible for deduction under section 10AA in respect of voluntary adjustment made by it-Transfer Pricing adjustment made by it [S.92C]

DCIT v. EYGBS (India) (P.) Ltd. (2025) 210 ITD 686 (Bang) (Trib.)

S. 10(23G) : Infrastructure undertaking-Banking company-Made investments or had advanced loans to companies engaged in business of infrastructure development-Eligible for claiming exemption.

DCIT v. ICICI Bank Ltd. (2025)210 ITD 643 (Mum.)(Trib.)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Amount received by assessee from Indian customers on account of sale of software solutions could not be treated as royalty-DTAA-India-USA. [Art. 12]

Dassault Systemes SolidWorks Corporations v. ACIT(IT) (2025) 210 ITD 476 (Mum.)(Trib.)

S. 5 : Scope of total income-Non-resident employee of an Indian company-Income from employment-Foreign assignment allowances for services rendered in Indonesia-Services were rendered outside India-Allowances were not taxable in India-DTAA-India-Indonesia [S. 5(2)(b), 9(1)(i), Art. 15]

Manab Chandra Ghosh v. ACIT [2025] 210 ITD 310 (Kol.)(Trib.)

S:68: Cash credits – Unexplained Credit – Conversion of Company to LLP – Capital Account – Accumulated Profits –Capital gains – Mere accounting entry, without actual monetary benefit to the partners, does not constitute payment for alleged Violation of Section 47(xiiib)(f) – Book Entry – No Actual Payment – Burden on AO – Addition is deleted .[ S.45 , 47(xxib)(f), 115BBE , Limited Liability Partnership Act , 2008 , S. 56, 57 ]

NICAF LLP v. ITO (Mum)( Trib) www.itatonline.org .