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
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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)

S. 54F : Capital gains-Investment in a residential house-Payments were made before the sale of an original asset-Test ought to be when construction of the residential house was completed-Matter remanded to CIT(A). [S. 45]

Bindu Premanandh v. CIT (2023) 290 Taxman 457 (Ker.)(HC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contractors-Delay in filing Form 26Q-Filed before the competition of assessment-Order of Tribunal deleting the addition was affirmed. [S. 194C, Rule 31A]

PCIT v. L.G.W. LTD. (2023) 290 Taxman 250 (Cal.)(HC)

S. 37(1) : Business expenditure-Interest payment to DGFT on account of excess availment of export incentive is not penal nature-Allowable as business expenditure.

PCIT v. Attire Designers (P.) Ltd. (2023) 455 ITR 697/ 290 Taxman 551 (Delhi)(HC)

S. 37(1) : Business expenditure-Capital or revenue-Payment to State Power Corp. towards the construction of a transmission line and other supporting work-Allowable as revenue expenditure.

CIT v. Bannari Amman Sugars Ltd. (2023) 290 Taxman 311 (Mad.)(HC)

S. 37(1) : Business expenditure-Capital or revenue-Premium paid to allottee on redemption of debentures-Allowable as revenue expenditure.

Nitesh Housing Developers (P.) Ltd. v. Dy. CIT (2023) 290 Taxman 474 (Kar.)(HC)

S. 14A : Disallowance of expenditure-Exempt income-No exempt income received during the year-Disallowance cannot be made. [R. 8D]

PCIT v. Amadeus India (P.) Ltd. (2023) 290 Taxman 201 (Delhi)(HC)

S. 10AA : Special economic zones-Export turnover-Telecommunication expenses were to be excluded from export turnover.

Subex Ltd v. Addl.CIT (2022) 145 taxmann.com 176 (Karn.)(HC) Editorial: SLP of Revenue dismissed, Addl. CIT v. Subex Ltd. (2023) 290 Taxman 102 (SC)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Non-resident-Providing satellite transmission services is not royalty-Order of Tribunal affirmed-DTAA-India-Netherland. [S. 260A, Art. 12]

CIT (IT) v. New Skies Satellite BV (2023) 290 Taxman 170 (Delhi)(HC)