S. 24 : Income from house property-Deductions-Interest on housing loan-Jointly borrowed with husband-Interest allowable as deduction. [S. 24(b)]
ITO v. Mamta Rajivkumar Agarwal (Smt.) (2022)100 ITR 17 (SN)(Ahd) (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. 23 : Income from house property-Annual value-Unsold units in commercial complex held as stock-in-trade-Notional value cannot be assessed-Reassessment beyond four years held to be not valid-Reassessment with in four years and assessment completed under section 143(1)-Reassessment is valid. [S. 22, 23(5), 24(a), 143(1)(143(3), 147, 148]
Krishna Build Home (P) Ltd. v. ITO (2022) 219 TTJ 165 (Jaipur)(Trib)S. 22 : Income from house property-Security deposit-Notional addition-Matter remanded.[S.24(a)]
Deena Asit Mehta v. Dy. CIT (2022)95 ITR 60 (SN) (Mum.)(Trib.)S. 22 : Income from house property-Main object warehousing and supply-chain solutions-Earning of rental income sans any amenities to tenants-Not an engagement in systematic business activity of letting out properties-Income to be treated as income from house property. [S. 24(a), 28(i)]
ACIT v. S. N. Damani Infra Pvt. Ltd. (2022)96 ITR 707 / 211 DTR 105 (Chennai)(Trib)S. 22 : Income from house property-Income from other sources-Ownership was with the assessee despite the sale of property-Rental income assessable as Income from house property-Entitle to statutory deduction of 30%. [S. 24(a), 56]
Dy. CIT v. Piramal Enterprises Ltd. (2022) 216 TTJ 802 (Mum)(Trib)S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during year-Failure by Assessing Officer to record satisfaction-Disallowance not permissible. [S. 14A(2), R.8D]
Wanbury Ltd. v. Dy. CIT (2022) 95 ITR 87 (SN) (Mum) (Trib)S. 14A : Disallowance of expenditure-Exempt income-Determining disallowance at 0.5 Per Cent. of average value of investments-Disallowance in accordance with law.[R.8D]
Rane Engine Valves Ltd. v. Dy. CIT (2022) 95 ITR 5 (SN) (Chennai)(Trib)S. 14A : Disallowance of expenditure-Exempt income-Co-Operative Society-Provision is not applicable. [S.80P]
Steel Authority of India Employees’ Co-Operative Credit Society Ltd. v. ACIT (2022) 96 ITR 599 (Kol.)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Apportionment of interest-Not recording of satisfaction. [R. 8D(2)(iii)]
ACIT v. J. K. Fenner (India) Ltd. (2022) 220 TTJ 595 (Chennai)(Trib)S. 14A : Disallowance of expenditure-Exempt income-Administrative expenses-Suo motu disallowance-Order of CIT(A) deleting the addition made by the Assessing Officer was affirmed. [R. 8D]
ACIT v. United Shippers Ltd. (2022) 97 ITR 94 (Mum)(Trib)