S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-No TP adjustment where consistent benchmarking was accepted in an earlier year. [S.92CA]
SP Armada Oil Exploration (P.) Ltd. v. DCIT (2025) 238 TTJ 209 / 179 taxmann.com 196 (Mum.)(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. 80G: Donation-Composite charitable and religious trust-Approval cannot be denied if religious expenditure does not exceed 5%.-Matter was remanded. [S. 80G(5), 80G(5B)]
Shree Sthanak Vasi Jain Sanghji Vrajpark v. CIT (E) (2025) 238 TTJ 327 (Ahd.)(Trib.).S. 69C: Unexplained expenditure-Recorded expenditure cannot be taxed under section 69C [S. 143(3)]
Sree Vishwabharathi Charitable Trust v. ITO (2025) 238 TTJ 828 / 178 taxmann.com 544 (Bang.)(Trib.)S. 69C: Unexplained expenditure-Bogus purchases-Unverifiable Purchases-Only the profit element embedded in unverifiable purchases can be taxed and not the entire purchase amount-Estimation of 5% GP upheld. [S. 145(3)]
DCIT v. Tirupati Matsup (P.) Ltd. (2025) 238 TTJ 465 / 125 ITR 715 / 177 taxmann.com 836 (Delhi)(Trib.).S. 69C: Unexplained expenditure-bogus purchases-Addition unsustainable where purchases, movement of goods and consumption are fully evidenced. [S. 145]
Rosha Alloys (P.) Ltd. v. DCIT (2025) 238 TTJ 357 / 127 ITR 76 / 175 taxmann.com 622 (Chd.)(Trib.)S. 69A: Unexplained money-Search & seizure-Addition based solely on employee’s diary and retracted statements-Not sustainable. (S. 132, 132(4A) 153A)
Estate Investment Company (P.) Ltd. v. DCIT (2025) 238 TTJ 585 (Mum)(Trib).S. 69A: Unexplained money-Seized Papers-Where seized rough sheets substantially tally with the regular books of account, only unexplained differences can be sustained and not the entire addition. [S.132, 145(3)]
Jamna Dass Nikkamal Jain Saraf (P.) Ltd. v. DCIT (2025) 238 TTJ 473 (Chd.)(Trib.).S. 69A: Unexplained money-Cash deposits during demonetisation-Addition was deleted where source stood explained from regular books [S. 115BBE]
DCIT v. Santosh Trust (2025) 238 TTJ 237 / 178 taxmann.com 31 (Delhi)(Trib.)S. 69A: Unexplained money-Survey-Addition based on dumb documents seized from third parties deleted.[S. 133A]
Suresh Kumar Banthia v. DCIT (2025) 238 TTJ 130 (Kol.)(Trib.)S. 69: Unexplained investments-Undisclosed Income-Loose papers-Addition based on dumb documents-Addition was deleted.[S.69C, 132, 153A]
ACIT v. Chhattisgarh Distilleries Ltd. (2025) 238 TTJ 774 / 177 taxmann.com 257 (Raipur)(Trib.)