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. 23 : Income from house property-Annual value-Vacancy allowance-Only an intention to let out a property coupled with efforts to let out is sufficient to come within purview of section 23(1)(c)-As lease rental received was nil, addition made by Commissioner (Appeals) on basis of Annual Letting Value (ALV) under section 23(1)(a) was to be deleted. [S. 22, 23(1)(a), 23(1)(c)]

Yash Vardhan Arya. v. ITO (IT) (2022) 196 ITD 276 / 97 ITR 5 (SN) (Bang.)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-Disallowance is to be restricted to extent of exempt income earned during the year. [R. 8D]

K. Raheja (P.) Ltd. v. DCIT (2022) 196 ITD 607 (Mum.)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-Explanation inserted by Finance Act, 2022 with effect from 1-4-2022 Provisions shall apply whether or not exempt income has accrued, arisen or received-Clarificatory in nature and applicable retrospectively. [R. 8D]

ACIT v. Williamson Financial Services Ltd. (2022) 196 ITD 422 / 218 TTJ 649 / 216 DTR 137 (Guwahati) (Trib.)/Editorial : Order of Tribunal is reversed , Williamson Financial Services Ltd. v. CIT (2024) 301 Taxman 102 (Gauhati)(HC)

S. 14A : Disallowance of expenditure-Exempt income-Dividend and interest-Did not make suo motu disallowance-Matter remanded. [S. 10(34), R. 8D(ii)]

Sundaram BNP Paribas Home Finance Ltd. v. DCIT (2022) 196 ITD 198 (Chennai) (Trib.)

S. 14A : Disallowance of expenditure-Exempt income-Failure to record dissatisfaction-Addition was deleted. [R. 8D(2)(iii)]

Infrastructure Logistics (P.) Ltd. v. JCIT (2022) 196 ITD 153/ (2023) 223 TTJ 341 (Panaji)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-No exempt income-Disallowance cannot be made-Prior to 1-4-2022 [R. 8D]

ACIT v. Bajaj Capital Ventures (P.) Ltd. (2022) 196 ITD 24/ 216 DTR 33/ 218 TTJ 832 (Mum.) (Trib.)

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Investment in a company-Denial of exemption is valid. [S. 11(5), 12A, 13(1)(d)]

Indian Golf Union v. ITO (E) (2022) 196 ITD 235 (Delhi)(Trib.)

S. 12AB : Procedure for fresh registration-Conditional registration-Commissioner’s guidance about conduct of assessee could not be construed as legally binding-Condition prescribed by the CIT(E) is vacated. [S. 12A(1)(c)]

Bai Navajbai Tata Zoroastrian Girls School v. CIT (2022) 196 ITD 363 / 219 TTJ 37 / 216 DTR 273 (Mum.)(Trib.)

S. 12AB : Procedure for fresh registration-Conditional registration is not valid-Guidance attached to the registration was vacated. [S. 12A]

Bai Hirabai Jamshetji Tata Navsari Charitable Institution v. CIT (2022) 196 ITD 356 (Mum.)(Trib.)

S. 12AA : Procedure for registration-Trust or institution-Ancient temple-Acquired by State government under Himachal Pradesh Hindu Public Religious Institution and Charitable Endowment Act, 1984-Registration cannot be denied merely on ground that there was no original trust deed available-Matter is remanded to verify date of grant of registration to assessee. [S. 12A, Himachal Pradesh Hindu Public Religious Institution and Charitable Endowment Act, 1984, S. 29]

Temple Trust v. CIT (2022) 196 ITD 482 / 218 TTJ 927 / 216 DTR 377 (Chd.)(Trib.)