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. 43B : Deductions on actual payment-Service tax-Deduction available on actual payment.

PCIT v. Zuberi Engineering Co. (2022) 286 Taxman 686 (Raj.)(HC)

S. 43B : Deductions on actual payment-Statutory corporation-Obligation of agent to account for and pay amounts collected by him on behalf of principal is purely fiduciary-Disallowance is not valid. [Electricity Supply Act, 1948, S. 5]

PCIT v. Kerala State Electricity Board (2022) 137 taxmann.com 85 (Ker.)(HC) Editorial : Notice issued in SLP filed by Revenue, PCIT v. Kerala State Electricity Board. (2022) 286 Taxman 438 (SC)

S. 43B : Deductions on actual payment-Employees’ and employers contribution-Paid before due date of filing of return-Allowable as deduction. [S. 139(1)]

PCIT v. Bramha Corp Hotels and Resorts Ltd(2022) 136 taxmann.com 398 (Bom.)(HC) Editorial : SLP filed against order of High Court was to be dismissed as withdrawn. PCIT v. Bramha Corp Hotels and Resorts Ltd. (2022) 286 Taxman 265 (SC)

S. 43B : Deductions on actual payment-Loan from its two promoters, Government of Tamil Nadu and IL&FS-Public financial institutions-Matter remanded to Assessing Officer. [S. 254(1)]

CIT v. Tamil Nadu Water Investment Co. Ltd. (2022) 446 ITR 546 /286 Taxman 600 (Mad.)(HC)

S. 37(1) : Business expenditure-Amount paid represented fee for participation in training programmes-Allowable as business expenditure. [40A(9)]

PCIT v. Eastern Coalfields Ltd. (2022) 286 Taxman 487 (Cal.)(HC)

S. 37(1) : Business expenditure-Buy back of shares-Amount over and above face value of shares to departing group of shareholders-Allowable as revenue expenditure. [S. 263]

PCIT v. Bramha Corp Hotels and Resorts Ltd. (2022) 136 taxmann.com 398 (Bom.)(HC) Editorial : SLP filed against order of High Court was to be dismissed as withdrawn. PCIT v. Bramha Corp Hotels and Resorts Ltd. (2022) 286 Taxman 265 (SC)

S. 37(1) : Business expenditure-Buy back of shares-Amount over and above face value of shares to departing group of shareholders-Allowable as revenue expenditure. [S. 263]

PCIT v. Bramha Corp Hotels and Resorts Ltd(2022) 136 taxmann.com 398(Bom)(HC) Editorial : SLP filed against order of High Court was to be dismissed as withdrawn. PCIT v. Bramha Corp Hotels and Resorts Ltd. (2022) 286 Taxman 265 (SC)

S. 35DDA : Amortisation of expenditure-Voluntary retirement scheme-Accrued liability-Allowable as deduction [S. 43(2), 145]

Tata Refactories Ltd. v. CIT (2022) 286 Taxman 577 / 213 CTR 405 / 326 CTR 469 (Orissa)(HC)

S. 32 : Depreciation-Claim of depreciation as permissible-Deletion of disallowance was proper.

PCIT v. Eastern Coalfields Ltd. (2022] 286 Taxman 487 (Cal.)(HC)

S.14A : Disallowance of expenditure-Exempt income-Only expenses proportionate to earning of exempt income could be disallowed [R. 8D]

PCIT v. Karnataka State Financial Corporation Ltd. (2021) 127 taxmann.com 115 (Karn.)(HC) Editorial : Notice issued in SLP filed against order of High Court, PCIT v. Karnataka State Financial Corporation Ltd. (2022) 286 Taxman 356 (SC)