S. 37(1) : Business expenditure-Capital or revenue-Capital asset-Payment to its Indian counterpart for acquiring part of its business relating to debt collection service-Expenditure incurred for acquiring completely new business set up was income generation tool-Capital in nature.[S. 32]
Genpact Services LLC. v. DCIT (IT) (2023) 200 ITD 48 (Delhi)(Trib)
Digest of case laws
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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. 37(1): Business expenditure-Commercial expediency-Professional and consultancy charges-Matter remanded.
Dinesh Devraj Ranka v. Addl. CIT [2023] 200 ITD 731 (Bang)(Trib.)S. 37(1): Business expenditure-Commercial expediency-Professional and consultancy charges-Matter remanded.
Dinesh Devraj Ranka v. Addl. CIT [2023] 200 ITD 731 (Bang)(Trib.)S. 37(1) : Business expenditure-Employee Stock Option Plan-(ESOP)-Allowable as revenue expenditure.
Northern Operating Services (P.) Ltd. v. JCIT(2023) 200 ITD 145 (Bang) (Trib)S. 36(1)(vii): Bad debts-Failer to substantiate-Not allowable as deduction. [S. 36(2)]
Dinesh Devraj Ranka v. Addl. CIT [2023] 200 ITD 731 (Bang)(Trib.)S. 36(1)(va) : Any sum received from employees-Employee’s contribution held in trust -Failure to pay within due date under respective Acts-Not allowable as deduction. [S. 2(24)(x),43B,139(1)]
Adani Infrastructure and Developers (P) Ltd. v. Dy CIT (Ahd.) 201 ITD 805(Trib)/Chase Security. v. ITO (2023) 198 ITD 351 (Bang) (Trib.)/Siddhi Vinayaka Graphics (P.) Ltd. v. ADIT / ACIT (2023) 201 ITD 204 /224 TTJ 913 (SMC) (Kol) ( Trib.) Corrtech International (P.) Ltd. v. ACIT (2023) 201 ITD 732 (Ahd) (Trib.) Jai Ambe Agricultural Industries v. Dy. CIT (2023) 201 ITD 600 (Varanasi)(Trib) Microviews Infosystems (P.) Ltd. v. Dy.CIT (2023) 201 ITD 626 (Kol (Trib.) Ocean Exim India (P) Ltd. v. ITO [2023] 200 ITD 366 (Jaipur) (Trib.) Precot Ltd. v. ACIT [2023] 201 ITD 350 (Chennai)Trib) Creative Textile Mills (P.) Ltd. v. Dy. CIT [2023] 201 ITD 871 (Mum)(Trib.) Dy. CIT v. Hanon Climate Systems India P. Ltd. (2023) 103 ITR 60 (SN) (Delhi)(Trib) Swatantra Microfin P. Ltd. v Centralised Processing Center (2023)105 ITR 181 (Mum)(Trib)S. 36(1)(iii) : Interest on borrowed capital-Business expenditure-Interest payment to legal heirs of dead partner-Deducted tax at source-Cannot be disallowed on the ground of passing of entry-Matter remanded. [S. 37(1), 40 (b) (iv), 194A]
Savla Agencies v .JCIT (2023)101 ITR 57 (SN.) (All) (Trib)S. 35: Scientific research expenditure-Weighted deduction-Recognition of facility different from approval-No Approval-Not entitled to exemption. [S. 35(2AB)]
ACIT v. Ajeet Seeds Ltd. (2023) 199 ITD 600/ 101 ITR 86 (SN.) (Pune) (Trib)S. 35 : Expenditure on scientific research-Weighted Deduction-Application for approval of In-House Research and development facility was filed before end of financial year-Held period mentioned in Form 3CM is not relevant-Approval would relate back to beginning of financial year in which the application is filed.[S. 35(2AB)]
Dy. CIT v. Hanon Climate Systems India P. Ltd. (2023) 103 ITR 60 (SN) (Delhi)(Trib)S. 32 : Depreciation-Additional depreciation permissible on new plant or machinery or plant acquired or installed: [S. 32(1)(iia)]
ABCI Infrastructure P. Ltd. v ACIT (2023) 154 taxmann.com 397 ( /104 ITR 95 (Guwahati). (Trib)