2021-TIOL-660-HC-MAD-IT

CIT Vs Society of Daughters of Mary Immaculate And Collaborators

Whether there is an absolute prohibition by virtue of Section 13(1)(d) against any charitable institution investing any amount at any point of time in any investments or mode of investments other than those narrated in Section 11(5) - YES: HC

- Revenue's appeal dismissed: MADRAS HIGH COURT

2021-TIOL-659-HC-AHM-IT

Silverdale Inn Pvt Ltd Vs ITO

Whether when AO has duly applied his mind on evidences produced by taxpayer and there was satisfaction by his own with regard to escapement of income, then reopening initiated by him is apt - YES: HC Whether if AO has caused or justification to know or suppose that income had escaped assessment, it can be said to have reason to believe that income had escaped assessment - YES: HC

- Assessee's writ application dismissed: GUJARAT HIGH COURT

2021-TIOL-539-ITAT-MUM

DCIT Vs Maharashtra State Electricity Board

Whether disallowance of expenditure already offered in the return in the prior period income can be made merely because the expenses did not crystallise during the previous year - NO: ITAT

- Revenue's appeal dismissed: MUMBAI ITAT

2021-TIOL-538-ITAT-MUM

IDBI Bank Ltd Vs DCIT

Whether payment made for non-compliance with RBI norms on customer service can be disallowed for falling under Explanation-1 to section 37(1) even when the payment is compensatory in nature - NO: ITAT Whether non-monetary perquisite can be added to assessee income while computing book profits u/s 115JB even when the amount represents the employee cost - NO: ITAT Whether TDS is liable to be deducted on year end provision of expenses - NO: ITAT

- Assessee's appeal allowed: MUMBAI ITAT

2021-TIOL-537-ITAT-JAIPUR

Mancan Foundation Vs CIT

Whether registration U/s 12AA can be denied without examing the actual objects and activities of the trust - NO: ITAT

- Assessee's appeal allowed: JAIPUR ITAT

2021-TIOL-536-ITAT-DEL

HCL Technologies Ltd Vs ACIT

Whether order u/s 201(1) shall be passed within two years from end of financial year in which statement of TDS is filed - YES: ITAT

- Assessee's Appeal allowed: DELHI ITAT

2021-TIOL-535-ITAT-AHM

DCIT Vs Corrtech Energy Ltd

Whether disallowance u/s 14A can be made when assessee has not received any exempt income - NO: ITAT Whether disallowance u/s 36(1)(iii) can be made when assessee is having substantial interest free fund - NO: ITAT Whether addition u/s 2(22)(e) can be made when assessee company is not a shareholder in the lender companies - NO: ITAT

- Revenue's appeal dismissed: AHMEDABAD ITAT

2021-TIOL-658-HC-MAD-VAT

NLC India Ltd Vs Appellate Deputy Commissioner (ST)

Whether it is fit case for re-consideration, where vital aspects such as existence of prima facie case, financial stringency & balance of convenience, are not considered when disposing off stay application - YES: HC

- Matter remanded: MADRAS HIGH COURT