S. 115JB : Book profit-Fringe benefit tax-Allowable as deduction. [S. 40(a)(ic)]
Capgemini Technology Services India Ltd. v. Dy. CIT (2022) 220 TTJ 409 (Pune) (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. 115JB : Book profit-Adjustment of disallowance under S.. 14A cannot be made while computing book profits.
ACIT v. J. K. Fenner (India) Ltd. (2022) 220 TTJ 595 (Chennai)(Trib)S. 115JB : Book profit-Gross income and total income Nil-Not paying dividend-Provision is not applicable.
Sasamusa Sugar Works Pvt. Ltd. v. Dy. CIT (2022) 98 ITR 235 (Kol) (Trib)S. 115JAA : Book profit-Deemed income-Tax credit-Matter remanded for verification.
Shipping Corporation of India Ltd. v. Dy CIT(LTU) (2022)96 ITR 32 (SN) (Mum) (Trib)S. 115JAA : Book profit-Deemed income-Tax credit-Allowability to amalgamated company-MAT credit earned by the amalgamating company has to be allowed in the hands of the amalgamated company. [S. 115JAA(7)]
Capgemini Technology Services India Ltd. v. Dy. CIT (2022) 220 TTJ 409 (Pune) (Trib)S. 115BBE : Tax on specified income-Income from undisclosed sources-Advance payment returned by party in cash-No cogent documentary evidence-Creditworthiness to return amount in cash in lieu of cheque payments was not established-Addition is held to be proper.
ITO (IT) v. Bikkina Savitri Devi (Smt.) (2022) 96 ITR 30 (Trib) (SN) (Vishakha) (Trib)S. 115BBE : Tax on specified income-Income from undisclosed Sources-Bogus purchases-Construction business-Confessional statement by suppliers-Accommodation entries of Bill trading without any supply of materials-Failure to file necessary evidence in support of purchases-Addition is justified.
BGR Energy Systems Ltd. v. ACIT (2022)96 ITR 625 (Chennai) (Trib) CIT v. Sasikala Raghupathy (Smt.) (2022)96 ITR 625 (Chennai) (Trib)S. 115BBE : Tax on specified income-Search-Unexplained expenditure-Diagnostic Centre-Additional income offered as business income-Referral fees-Unaccounted expenditure-additional income cannot be taxed at special rate-Current years loss is allowed to be set off-Reasons recorded cannot be based on conjectures and surmises. [S. 69C, 153A]
Ragavs Diagnostic and Research Centre Pvt. Ltd. v. ACIT (2022)99 ITR 15 (SN)(Bang) (Trib)S.115BBE : Tax on specified income-Cash credits-Collection found recorded in notebook pertaining to business-Directed to be treated as business income and not as cash credits [S. 68, 69 69A, 69B]
Harish Sharma v. ITO (2022) 215 TTJ 267 /(2024)113 ITR 229/(2021) 207 DTR 475 (Chd)(Trib)S. 115BBC : Anonymous donations-Details of donors with names address and confirmation letters provided-Mere absence of PAN the donations cannot be assessed as anonymous donations.[S. 13]
ACIT v. Siddhartha Academy of General & Technical education (2022) 216 DTR 203 / 218 TTJ 899/ 141 taxmann.com 287 (Vishakha)(Trib).