S. 115JB : Book profit-Interest subsidy and excise refund-Capital receipt for purpose of book profit. [S. 4]
PCIT v. Krishi Rasayan Exports (P.) Ltd. (2023) 290 Taxman 567 (Cal.)(HC)
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. 92C : Transfer pricing-Arms’ length price-No addition can be made when any arrangement or transaction is an international transaction.
PCIT v. Amadeus India (P.) Ltd. (2023) 290 Taxman 201 (Delhi)(HC)S. 80G : Donation-Capitalisation fee-Show cause notice for cancellation of registration-Remanded to Commissioner to pass a fresh order on an application filed by assessee after further order was passed in show cause notice seeking to cancel the registration granted. [S. 12A, 80G(5), R. 11A]
CIT v. Madras Medical Mission (2023) 290 Taxman 556 (Mad.)(HC)S. 69A : Unexplained money-The direction of CIT(A) to give credit of Rs 50 lakhs was not complied with by the Assessing Officer-Court directed the petitioner to file an appeal before CIT(A). [Art. 226]
SNJ Distillers (P.) Ltd. v. DIT (Inc.) (2023) 290 Taxman 264 (Mad.)(HC)S. 68 : Cash credits-Violation of the principle of natural justice is not fatal-Issue on the identical issue pending before Appellate Authority-Writ petition against the assessment order was dismissed. [Art. 226]
Kariyagoundanur Muthusamy Chettiar Chinnadurai v. ACIT (2023) 290 Taxman 308 (Mad.)(HC)S. 68 : Cash credits-Share premium and share capital-Identity creditworthiness and genuineness of transactions were established-Order of Tribunal affirmed. [S. 260A]
PCIT v. Satkar Infrastructure (P.) Ltd. (2023) 290 Taxman 400 (Delhi)(HC)S. 68 : Cash credits-Identity, creditworthiness and genuineness of loan transactions were established-Notice issued under section 133(6) was responded-Order of Tribunal deleting the addition was affirmed. [S. 133(6)]
PCIT (C) v. Ambe Tradecorp (P.) Ltd. (2023) 290 Taxman 471 (Guj.)(HC)S. 68 : Cash credits-Sundry creditors-Bogus purchases-Sundry creditors-Credit sales-Books of account not rejected-Sales accepted as genuine-Order of Tribunal deleting the addition was affirmed.
PCIT v. Attire Designers (P.) Ltd. (2023)455 ITR 697 / 290 Taxman 551 (Delhi)(HC)S. 68 : Cash credits-Loans-Search-Accommodation entries-Through banking channels-Deletion of addition by the Tribunal was affirmed. [S. 132]
PCIT (C) v. E-City Projects Lucknow (P.) Ltd. (2023) 290 Taxman 281 / 223 DTR 468 / 332 CTR 857 (Orissa)(HC)S. 68 : Cash credits-NRI gifts-Search and seizure-Denial by donors-Addition was as cash was affirmed. [S. 132]
P.R. Ganapathy v. Dy. CIT (2023) 290 Taxman 68/ 335 CTR 565 (Mad.)(HC)