S. 32 : Depreciation-Additional depreciation-Order of Tribunal is affirmed. [S. 32(1)(iia)]
CIT v. Century Enka Ltd. (2023) 458 ITR 754 (Cal.)(HC)S. 32 : Depreciation-Additional depreciation-Order of Tribunal is affirmed. [S. 32(1)(iia)]
CIT v. Century Enka Ltd. (2023) 458 ITR 754 (Cal.)(HC)S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Indian firm sub-contracting work to firm in Philippines-No permanent establishment in India-Not liable to deduct tax at source. DTAA-India-Philippines. [S. 195, Art. 7(1), 23]
DIT (IT) v. IBM India Pvt. Ltd. (2023)458 ITR 86 /149 taxmann.com 185 (Kar.)(HC)S. 4 : Charge of income-tax-Diversion of income by overriding title-State Government undertaking entrusted with Government funds-The income never reached the assessee and was diverted at source by an overriding title-Addition is not valid. [S. 145]
PCIT v. Jharkhand Tourism Development Corporation Ltd. (2023)458 ITR 497/150 taxmann.com 268 (Jharkhand)(HC)S. 2(22)(e) : Deemed dividend-Shareholder-Advances to share holder-Portuguese Civil Code-Companies Act-Concept of common ownership of assets by spouses under Portuguese Civil Code is not applicable-Order of Tribunal affirming the addition is affirmed. [S. 260A, Companies Act, 1956, 150, 152A, Portuguese Civil Code 1867]
Dattaprasad Kamat v. ACIT (2023)458 ITR 201 /153 taxmann.com 702 (Bom)(HC)Interpretation of taxing statutes.
S. 90 : Interpretation- Double taxation avoidance agreements – Most favoured nation-DTAA – India – France — Netherlands- Switzerland . [ S.90(1) , Art. 73 ]
Assessing Officer (IT ) v. Nestle SA (2023)458 ITR 756 / 335 CTR 145/(2024) 296 Taxman 580 (SC)S.153A: assessment – Search – Less than 50 lakhs – Assessment beyond six years is bad in law . [ S.69, 132 ]
Kawaljit Singh v. ACIT (2024) 204 ITD 307 (Chd)( Trib)S.54B: Capital gains – Land used for agricultural purposes –Investment in new agricultural land – Loan was repaid after sale consideration was received – Order of CIT(A) deleting the addition is affirmed – Cash credits – Matter remanded to the Assessing Officer . [ S. 45 ]
ITO v. Rekhchand Jain (2024) 204 ITD 333 ( Raipur)( Trib)S.37(1): Business expenditure –Non compete fee –Capital expenditure – Entitle to depreciation – Provision for litigation and taxation matter – Matter remanded .[S.32]
Eaton Power Quality (P.) Ltd. v. DCIT (2024) 204 ITD 323/230 TTJ 23 (UO) ( Chennai) (Trib)S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Banks -Schedule bank –Average advances of rural branches – Advances outstanding as well as fresh advances are to be considered .
Canara Bank v. DCIT (2024) 204 ITD 358 ( Bang )(Trib)S. 36(1)(vii) :Bad debt –Banks – Non -Rural branches – Amounts written off – Allowable as deduction.
Canara Bank v. DCIT (2024) 204 ITD 358 ( Bang )(Trib)