S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contribution to Turf Authorities of India for conducting an event-Meet expenditure-Not liable to deduct tax at source-Subsidies to promote horse racing-Failure to mention which section of TDS provision is applicable-Addition was deleted.
Mysore Race Club Ltd. v. ACIT (2022) 196 ITD 140 (Bang.)(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. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Advertisement services-Payment to Irish company-No Permanent Establishment in India-Not liable to deduct tax at source-DTAA-India-Irish. [S. 9(1)(i), 195, Art. 7]
ACIT v. Lenskart Solution (P.) Ltd. (2022) 196 ITD 297 (Delhi) (Trib.)S. 37(1) : Business expenditure-Carrying on of business-No business activities during the year-Matter remanded.
DCIT v. NCR Business Park (P.) Ltd. (2022) 196 ITD 678 (Delhi) (Trib.)S. 37(1) : Business expenditure-Loss on account of exchange difference-Allowable as deduction. [S. 28(i)]
Everest Industries Ltd. v. DCIT (2022) 196 ITD 563 (Mum.)(Trib.)S. 37(1) : Business expenditure-Pre-operative expenses-Capital or revenue-Business of hotels, motels, catering etc.-Setting up business-Salaries and allowances to experts-Allowable as business expenditure.
RBL Hotels (P.) Ltd. v. ACIT (2022) 196 ITD 513 / (2023) 222 TTJ 706 / 220 DTR 233(Chennai)(Trib.)S. 37(1) : Business expenditure-Fees-ROC-Capital or revenue-Debt restructuring-Increase in authorised capital and annual remuneration paid to monitoring institution under CDR-Allowable as revenue expenditure.
Spandana Sphoorty Financial Ltd. v. DCIT (2022) 196 ITD 217 / 217 TTJ 837 / 214 DTR 121 (Hyd.)(Trib.)S. 37(1) : Business expenditure-Contribution to Temple, Panchayat-Allowable as business expenditure. [S. 80G]
Infrastructure Logistics (P.) Ltd. v. JCIT (2022) 196 ITD 153/(2023) 223 TTJ 341 (Panaji)(Trib.)S. 36(1)(viii) : Eligible business-Special reserve-Eligible profits-Interest income from Government securities-Apportionment of other income-Matter remanded for verification.
Sundaram BNP Paribas Home Finance Ltd. v. DCIT (2022) 196 ITD 198 (Chennai)(Trib.)S. 36(1)(iii) : Interest on borrowed capital-Real estate construction-Method of accounting-Percentage completion method-Stock in trade-Work in progress-Allowable as deduction. [S. 145]
DCIT (OSD) v. Sanathnagar Enterprise Ltd. (2022) 196 ITD 89 (Mum.)(Trib.)S. 32 : Depreciation-Motor car-Not maintained log book for usage-Personal use-Disallowance of 20% of depreciation is affirmed. [S. 38(2)]
Sanjay Subhashchand Gupta. v. ACIT (2022) 196 ITD 493 (Mum.) (Trib.)