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-TNMM-CUP method-Payment of royalty-Determnetal to the interest of both assessee and Revenue-Addition was delted. [S. 260A]
Cummins India Ltd v. ACIT (2023) 294 Taxman 619/ 335 CTR 387 /(2024) 470 ITR 184(Bom)(HC)
S. 90 : Double taxation relief-Taxes deemed to have been payable-Eligible to tax credit- Tax payable -Income by way of dividend, received from its subsidiary in Thailand-Income deemed to accrue or arise in India-DTAA-India-Thailand. [S. 9(1)(i),9(1)(iv), Art. 23(3), 23(5)]
PCIT v. Polyplex Corporation Ltd (2023) 457 ITR 195/ 294 Taxman 751/ 334 CTR 665(Delhi)(HC)
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)