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. 37(1) : Business expenditure-Debenture at premium-Liability to be spread over period covered by debentures. [S. 145]

CIT v. Apollo Tyres Ltd. (No. 1) (2022) 447 ITR 377 (Ker.)(HC)

S. 37(1) : Business expenditure-Prior period expenses-Allowable as deduction. [S. 145]

PCIT v. Ajmer Vidyut Vitran Nigam Ltd. (2022) 447 ITR 186 (Raj.)(HC)

S. 35 : Scientific research expenditure-Expenditure towards clinical trials for availing of facility of its subsidiary abroad and at facility not approved by prescribed authority-Weighted deduction not allowable. [S. 35(2AB)]

PCIT v. Apollo Tyres Ltd. (No. 2) (2022) 447 ITR 403 (Ker.)(HC) PCIT v. Apollo Tyres Ltd. (No. 3) (2022) 447 ITR 431 (Ker.)(HC) Editorial: SLP of assessee dismissed, Apollo Tyres Ltd. v. PCIT (2022) 447 ITR 8 (St)(SC)

S. 35 : Scientific research expenditure-Weighted deduction-Expenditure incurred on in-house research and development facility-Entitled to weighted deduction. [S. 35(2AB)]

PCIT v. Apollo Tyres Ltd. (No. 1) (2022)447 ITR 397 (Ker.)(HC)

S. 32 : Depreciation-Additional depreciation-Entitled to balance of additional depreciation not availed of in earlier year in subsequent assessment year. [S. 32(1)(iia)]

CIT v. Apollo Tyres Ltd. (No. 3) (2022) 447 ITR 393 (Ker.)(HC)

S. 32 : Depreciation-Assets not available for physical verification-Cannot be the ground for disallowance of depreciation.

PCIT v. Ajmer Vidyut Vitran Nigam Ltd. (2022) 447 ITR 186 (Raj.)(HC)

S. 32 : Depreciation-Lease of property-Terms of lease showing assessee owner of plant and machinery-Lease rentals taxed as revenue receipts-Entitle to depreciation.

CIT v. SBI Home Financer Ltd. (2022) 447 ITR 659 /(2023) 290 Taxman 108(SC) Editorial : Order in SBI Home Financer Ltd v. CIT (2006) 286 ITR 6 (Cal)(HC) affirmed.

S. 28(i) : Business loss-Guarantor-Allowable as business loss. [S. 37 (1)]

CIT v. Apollo Tyres Ltd. (No. 3) (2022) 447 ITR 393 (Ker.)(HC)

S. 14A : Disallowance of expenditure-Exempt income-Without giving finding how much administrative expenditure incurred to earn exempt income-Disallowance not Justified. [R.8D]

CIT v. UTI Bank Ltd. (2022)447 ITR 662 / 219 DTR 528 / 329 CTR 597 / 289 Taxman 238 (SC) Editorial : Decision in CIT v. UTI Bank Ltd (2014) 2 ITR-OL 366 (Guj)(HC), affirmed.

S. 12AA : Procedure for registration-Trust or institution-Registration cannot be denied for failure to start charitable activities. [S. 12A,12AA(3)]

DIT(E) v. Meenakshi Amma Endowment Trust (2022)447 ITR 663 / 219 DTR 505 / 329 CTR 594 / 289 Taxman 405(SC) Editorial : Decision in DIT (E) v. Meenakshi Amma Endowment Trust (2013) 354 ITR 219 (Karn.)(HC), affirmed.