S. 80IC : Special category States-Industraial undertaking-Initial assessment year-Substantial expansion within period of ten years-Eligible deduction-Year of substantial expansion would be initial year for start of 100 Per Cent. deduction. [S. 80IC(8)(ix)]
Tejpal Chaudhary v. CIT (2023) 456 ITR 360 / 294 Taxman 523 / 333 CTR 452(SC) Friends Alloys v. CIT (2023) 456 ITR 360 (SC) Editorial: Tejpal Chaudhary v. CIT (2023) 151 taxmann.com 554 (P& H)(HC), Decision in, Admac Faormulations v. CIT (2018) 409 ITR 661 (P& H) is reversed.
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. 80IA : Industrial undertakings-Infrastructure development-Survey-Incumbent on part of Assessing Officer to grant deduction once the Central Government has granted approval. [S. 80IA(4)(iii), 133A, 153A]
PCIT (C) v. Punit Chettiar alias Punit Balan (2023) 457 ITR 32 / 294 Taxman 567 / (2024) 337 CTR 753(Bom.)(HC)S. 69C : Unexplained expenditure-Bogus purchases-No discrepancy between purchases shown and sales declared-Only gross profit ratio can be applied-Order of Tribunal is affirmed. [S.260A]
PCIT v. Anil Jagannath Tiwari (2023) 153 taxmann.com 539 (Bom)(HC) Editorial : SLP of Revenue is dismissed due to low tax affect, PCIT v. Anil Jagannath Tiwari (2023) 294 Taxman 517 (SC)S .69C : Unexplained expenditure-Survey-Bogus purchases-Statement retracted-Deletion of addition by the Tribunal is affirmed. [S.131, 133A 260A]
PCIT v. Yog Oil Traders (2023) 294 Taxman 480 (Bom.)(HC)S. 69B : Amounts of investments not fully disclosed in books of account-Sauda Chithhi-Dumb documents-Incriminating documents-Sale of land-Land was not transferred-Deletion of addition by the Tribunal is affirmed. [S. 45, 260A]
PCIT (C) v. Prabodhchandra Jayantilal Patel (2023) 294 Taxman 440 (Guj.)(HC)S. 69A : Unexplained money-Seizure of gold-Distinctive identification numbers on challans-Deletion of addition by the Tribunal is affirmed. [S. 260A]
PCIT v. Goutam Chakraborty (2023) 294 Taxman 284/ 334 CTR 593 (Cal.)(HC)S. 69A : Unexplained money-Loose papers-Admitted by assessee-Order of Tribunal is affirmed. [S. 260A]
Ramakrishna v. Dy. CIT (2023) 154 taxmann.com 40 (Karn)(HC) Editorial : SLP of assessee is dismissed, C. Ramakrishna v. Dy. CIT (2023) 456 ITR 253 / 294 Taxman 609 (SC)S. 69A : Unexplained money-Lose papers-SLP is dismissed-Order of High Court is affirmed. [Art. 136]
C. Ramakrishna v. Dy. CIT (2023) 456 ITR 253 / 294 Taxman 609 (SC) Editorial : C. Ramakrishna v. Dy. CIT (2023) 154 taxmann.com 40 (Karn)(HC)S. 68 : Cash credits-Bank deposit-Failure to prove the nature of the source-Addition is confirmed. [S. 260A]
Rupal jain (Mrs.) v. CIT (2023) 152 taxmann.com 345 (All)(HC) Editorial : SLP of Revenue is dismissed, Rupal jain (Mrs) v. CIT (2023) 454 ITR 813 / 294 Taxman 261 (SC)S. 68 : Cash credits-Long term capital gains-Penny stock-No adverse comment by stock exchange-Order of Tribunal is affirmed. [S. 10(38) 45, 260A]
PCIT v. Renu Aggarwal (Smt) (2023) 153 taxmann.com 578 (All)(HC) Editorial : SLP of Revenue is dismissed, PCIT v. Renu Aggarwal (Smt) (2023) 456 ITR 249 /294 Taxman 521 (SC)