Judiciary updates (Income Tax) -30th October 2021

No section 271D Penalty on wife for receiving money from husband for purchase of family property

Smt. Meera Devi Kumawat Vs JCIT (ITAT Jaipur): ITA No. 1201/JP/2019 dated 21/10/2021

TPO duty bound to determine ALP by following any one of prescribed methods

Firemenich Aromatics Production (India) Pvt. Ltd. Vs ACIT (ITAT Mumbai) dated 26/10/2021

Section 36 deduction permitted if expenditure is not for extension of business activity

CIT Vs Ceebros Hotels P Ltd. (Madras High Court) dated 05/10/2021

Depreciation allowable on home-theatre used for business purpose

DCIT Vs Tally Solutions Pvt. Ltd. (ITAT Bangalore) dated 14/10/2021

If AO made addition on estimated GP basis than other item-wise disallowance should not be made

Devyani Tex Chem Pvt. Ltd. Vs ACIT (ITAT Surat) dated 22/06/2021

Deemed dividend not attracted on Loan Taken on interest

DCIT Vs Heilgers Development & Construction Company Pvt. Ltd (ITAT Kolkata) dated 18/08/2021

Activity of Providing Affordable Housing by MHADA is Charitable in Nature

Maharashtra Housing & Area Development Authority (MHADA) Vs DCIT (ITAT Mumbai) dated 13/10/2021

ROC expense for enhancement of share capital not allowable

Moldtek Packaging Ltd. Vs ACIT (ITAT Hyderabad) dated 02/07/2021

Addition under section 69A unsustainable for cash deposited as facilitator

Ashish Natvarlal Vashi Vs ITO (ITAT Surat) dated 11/05/2021


Bipul Kumar

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