S. 37(1) : Business expenditure-Accrued or contingent liability-Award of damages with interest-Arbitration made Rule of Court by Single Judge-Pendency of award before Division Bench-Grant of stay by Division Bench does not relieve assessee of liability to pay interest-Entitled to deduction of interest-SLP of Revenue is dismissed. [S. 145, Art. 136]
CIT. v. National Agricultural Co-Operative Marketing Federation of India Ltd. (2023) 459 ITR 593 / 154 taxmann.com 658 (SC) Editorial: Refer National Agricultural Co-Operative Marketing Federation of India Ltd v. CIT (2017) 393 ITR 666(Delhi)(HC), National Agricultural Co-Operative Marketing Federation of India Ltd v. JCIT (2015) 44 ITR 275 (SB) (Delhi) (Trib)
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. 36(1)(iv) : Contribution towards a recognized provident fund-
Contribution to medical benefit fund of retired employees-Not disallowable.[S.36(1)(v),36(1)(va), 40A(9)]
S. 36(1)(iii) : Interest on borrowed capital-Joint venture company-Entitle to deduction.
PCIT v. Indus Towers Ltd. (2023)459 ITR 719/(2024) 296 Taxman 387 (Delhi)(HC) Editorial : Refer, Dy.CIT v. Indus Towers Ltd (2019) 73 ITR 17 (SN) (Delhi)(Trib)S. 32 : Depreciation-Telecommunication Infrastructure-Towers Constructed subsequent to commencement of business-Depreciation is allowable on all towers.
PCIT v. Indus Towers Ltd. (2023)459 ITR 719/(2024) 296 Taxman 387 (Delhi)(HC) Editorial : Refer, Dy. CIT v. Indus Towers Ltd (2019) 73 ITR 17 (SN) (Delhi)(Trib)S. 32 : Depreciation-Rate of depreciation-Plant-Oil Well-Plant-Eligible for depreciation at higher rate of 80 Per Cent.-Supreme Court-SLP of Revenue is dismissed.
CIT (IT) v. Joshi Technologies International Inc. (2023)459 ITR 146 / 294 Taxman 706 (SC) Editorial : Refer, CIT (IT&TP) v. Joshi Technologies International Inc. (2023) 459 ITR 142 / 153 taxmann.com 710 (Guj)(HC)S. 14A : Disallowance of expenditure-Exempt income-Not recording satisfaction-Order of Tribunal deleting the disallowance is affirmed.[R.8D(iii)]
PCIT v. Security Printing and Minting Corporation of India Ltd (2023) 459 ITR 261 (Delhi)(HC) Editorial : Security Printing and Minting Corporation of India Ltd v.Addl.CIT (2023) 33 ITR (Trib)-OL 669 (Delhi)(Trib), affirmed.S. 11 : Property held for charitable purposes-Donations-Entire Capitation Fees-No denial of exemption if certificate in force-Entitle to exemption. [S.11(d), 12A, 12AA(4)(b)]
Kammavari Sangham v. Dy. DIT (E) (2023)459 ITR 433 /146 taxmann.com 367 / 334 CTR 699(Karn.)(HC)S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Make available-The facts on record showed that the recipient of the services was not enabled to provide the same service without recourse to the service provider-DTAA-India-Singapore.[S. 260A, Art. 12(4)(b)]
CIT (IT) v. Bio-Rad Laboratories (Singapore) Pte. Ltd. (2023)459 ITR 5 /(2024) 296 Taxman 167 (Delhi)(HC)S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Threshold period of twelve months for activities in India not exceeded-Not taxable in India-DTAA-India-Cyprus.[Art. 5(2)(g), 7]
CIT (IT) v. Bellsea Ltd. (2023)459 ITR 375 /147 taxmann.com 488 (Delhi)(HC)S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Fees for technical services-Indian company merely displaying and storing data of Indian subscribers-Services limited to provision of E-Commerce platform of advertising of products of services in India-Standard facility-Not fees for technical services-Not taxable in India-DTAA-India-Singapore [S.9(1)(vii), Art.]
CIT (IT) v. Alibaba.Com Singapore E-Commerce Pvt. Ltd. (2023)459 ITR 508/152 taxmann.com 110 (Bom)(HC)