S. 22 : Income from house property-Security deposit-Notional addition-Matter remanded.[S.24(a)]
Deena Asit Mehta v. Dy. CIT (2022)95 ITR 60 (SN) (Mum.)(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. 22 : Income from house property-Main object warehousing and supply-chain solutions-Earning of rental income sans any amenities to tenants-Not an engagement in systematic business activity of letting out properties-Income to be treated as income from house property. [S. 24(a), 28(i)]
ACIT v. S. N. Damani Infra Pvt. Ltd. (2022)96 ITR 707 / 211 DTR 105 (Chennai)(Trib)S. 22 : Income from house property-Income from other sources-Ownership was with the assessee despite the sale of property-Rental income assessable as Income from house property-Entitle to statutory deduction of 30%. [S. 24(a), 56]
Dy. CIT v. Piramal Enterprises Ltd. (2022) 216 TTJ 802 (Mum)(Trib)S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during year-Failure by Assessing Officer to record satisfaction-Disallowance not permissible. [S. 14A(2), R.8D]
Wanbury Ltd. v. Dy. CIT (2022) 95 ITR 87 (SN) (Mum) (Trib)S. 14A : Disallowance of expenditure-Exempt income-Determining disallowance at 0.5 Per Cent. of average value of investments-Disallowance in accordance with law.[R.8D]
Rane Engine Valves Ltd. v. Dy. CIT (2022) 95 ITR 5 (SN) (Chennai)(Trib)S. 14A : Disallowance of expenditure-Exempt income-Co-Operative Society-Provision is not applicable. [S.80P]
Steel Authority of India Employees’ Co-Operative Credit Society Ltd. v. ACIT (2022) 96 ITR 599 (Kol.)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Apportionment of interest-Not recording of satisfaction. [R. 8D(2)(iii)]
ACIT v. J. K. Fenner (India) Ltd. (2022) 220 TTJ 595 (Chennai)(Trib)S. 14A : Disallowance of expenditure-Exempt income-Administrative expenses-Suo motu disallowance-Order of CIT(A) deleting the addition made by the Assessing Officer was affirmed. [R. 8D]
ACIT v. United Shippers Ltd. (2022) 97 ITR 94 (Mum)(Trib)S. 14A : Disallowance of expenditure-Exempt income-No e exempt income for relevant assessment year-No disallowance can be made. [R.8D]
Dy. CIT v. Jagson International Ltd. (2022) 97 ITR 176 (Delhi) (Trib.)S. 14A : Disallowance of expenditure-Exempt income-Disallowance was worked on proportionate basis-Matter remanded. [S. 10(38), R. 8D]
ACIT v. Nahar Industrial Enterprises Ltd. (2022) 219 DTR 73 / 219 TTJ 544 / 99 ITR 562 (Chd)(Trib) ACIT v. Nahar Spinning Mills Ltd (2022) 219 DTR 73 / 219 TTJ 544/ 99 ITR 562 /142 taxmann.com 52 (Chd)(Trib) ACIT v. Oswal Woollen Mills Ltd. (2022) 219 DTR 73/ 219 TTJ 544 /99 ITR 562 / 142 taxmann.com 52 (Chd)(Trib)