ITAT Delhi excluded three comparable companies after holding that they were functionally dissimilar and government-controlled enterprises. Their exclusion eliminated the transfer pricing adjustment on engineering design services.
ITAT Delhi held that donations forming part of CSR expenditure are eligible for deduction under Section 80G if the statutory conditions are satisfied. The Tribunal ruled that disallowance under Section 37(1) does not bar a separate deduction under Chapter VI-A.
The Supreme Court held that the Working President validly convened the election meeting under the doctrine of necessity after all principal office bearers had died. It restored the accepted change report and directed fresh elections within six months.
The case examined whether compulsorily convertible debentures should be treated as debt or equity for allowing interest deductions. The Tribunal identified this as the primary issue before determining the arm’s length price of interest.
The Madras High Court ruled that medical reimbursements up to ₹15,000 per employee cannot be subjected to Fringe Benefit Tax in the absence of a clear statutory charging provision. The judgment reiterates that tax cannot be imposed by implication or through administrative circulars.
The Bombay High Court upheld the CESTAT order after finding that denial of cross-examination violated Regulation 17(4) of the CBLR, rendering the proceedings against the Customs Broker invalid. The Revenue’s appeal was dismissed.
The Gujarat High Court dismissed the Revenue’s appeals after holding that the additions qualified for deduction under Section 80IB, making the entire exercise revenue neutral despite disagreeing with the Tribunal’s approach.
The ITAT Bangalore held that, from AY 2018-19 onwards, Section 80AC makes timely filing of the return under Section 139(1) a mandatory condition for claiming deductions under Chapter VI-A. A return filed later in response to a Section 148 notice could not revive the claim for deduction under Section 80P.
ITAT Ahmedabad held that repayment of the entire loan with TDS-compliant interest payments undermined the allegation that the loans were accommodation entries. The additions towards interest and commission were deleted.
ITAT Chennai held that loose sheets and estimates alone cannot justify an addition under Section 69B without independent corroborative evidence. The Tribunal deleted the addition after finding no proof of investment outside the books of account.
