S. 119 : Central Board of Direct Taxes-Circular-Return of income-Delay of 216 days-Delay is not explained satisfactorily-Rejection of application for condonation of delay in filing the return is affirmed.[S. 80P, 119(2)(b), 139, Art. 226]
No.9074 Neermullikuttai Primary Agricultural Co-operative Credit Society Ltd. v. Chief CIT (2025) 302 Taxman 22 (Mad.)(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. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Comparable-Brand value-Entities having high brand value and, therefore, being able to command greater profits could not be selected as comparables-Order of Tribunal is set aside.[S. 260A]
Cadence Design Systems (India) v DCIT (2025) 302 Taxman 59 (Delhi) (HC)S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Trading of imported luxury goods-Resale price method (RPM) is most appropriate method. [S. 260A]
PCIT v. Burberry India (P.) Ltd. (2025) 302 Taxman 257 (Delhi)(HC)S. 69A : Unexplained money-Search-Deposit in bank account-Debit card in joint name-Matter remanded to produce bank account. [S.260A]
Pawan Kumar Jaggi v. ACIT (2025) 302 Taxman 274 (Delhi)(HC)S. 68 : Cash credits-Unsecured loan-Furnished documents to prove identity, genuineness and credit worthiness of parties-Matter remanded back to the Assessing Officer for fresh consideration. [S. 143(3), Art. 226]
Shah Tobacco Trading Co. v. Add. ACIT (2025) 302 Taxman 219 (Guj)(HC)S. 54 : Capital gains-Profit on sale of property used for residence-Construction of house-Putting together a structure of plywood sheets could not be construed as constructing a residential house-Not entitle to exemption. [S.45, 260A]
Sandeep Hooda v. PCIT (2025) 302 Taxman 208 (Delhi)(HC)S. 45 : Capital gains-Long term capital gains-Tenancy right is converted into owneership-Date of transfer-Consent term-Confirming party-Deed of confirmation or deed of consent term or registration-Matter remanded to the Tribunal for re adjudication. [S. 2(27), 50C, 254(1), 260A]
Hajra Iqbal Memon (Mrs.) v. ITAT (2025) 302 Taxman 524 (Bom.)(HC)S. 45 : Capital gains-Business income-Sale of properties-Assessable as capital gains and not as business income-Rule of constancy followed. [S. 22, 28(i), 260A]
Knowell Realtors (India) (P.) Ltd. v. ACIT (2025) 302 Taxman 433 / 482 ITR 423 (Ker.)(HC)S. 43D : Public financial institutions-Section 43D read with Rule 6EB is a complete code-Directions issued by National Housing Bank (NHB) do not override section 43D in matter of computation of taxable income. [S.43D, R.6EB, Art.136]
Housing and Urban Development Corporation Ltd. v. Addl. CIT (2025) 302 Taxman 419 (SC) Editorial : Housing and Urban Development Corporation Ltd. v. Addl. CIT (2017) 83 taxmann.com 292 (Delhi) (HC), Housing and Urban Development Corporation Ltd. v. Addl. CIT(RP. Nos 130 to 134 of 2018 dt 23-3-2018(Delhi)(HC)S. 43B : Certain deductions only on actual payment-VAT, Entry Tax, CST-Not claimed as deduction-No disallowance can be made. [S. 139(1)]
Grand Motors v. ITO (2025) 302 Taxman 440 (Chhattisgarh)(HC)