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The Chombal Service Co-Operative Bank Ltd. v. ITO
  Section 80P(2)   Direct Taxes

As decided in the case of Mavilayi Service Co-operative Bank Ltd. V. CIT [[ITA No. 97/2016] : 2019 TaxPub(DT) 4909 (Ker-HC)] that AO had to conduct an inquiry into factual situation as to activities of assessee society to determine the eligibility of deduction under section 80P and should examine the activities of assessee and determine whether activities are in compliance with activities of a co-operative society, therefore, AO was directed to examine the activities of assessee-society before granting deduction under section 80P on interest income.


ViIking Technology & Trade (P) Ltd. v. Dy. CIT
  Section 253   Direct Taxes

Where assessee did not prefer appeal against, order passed by CIT under section 263 then appeal against order giving effect to directions of CIT was not maintainable because the AO did what was instruct by CIT therefore, assessee cannot have any grievance over the action of AO in making disallowance of purchases by following directions of CIT under section 263.


Manjit Singh Malhi v. ACIT
  Section 14   Direct Taxes

Where the assessee placed FDRs as security for business purposes but did not offer interest on FDR as income then the AO was directed to arrive at correct head of income and tax accordingly the interest income.


DIT & Anr. v. Samsung Heavy Industries Co. Ltd.
  Section 90   Direct Taxes

Maintenance of a fixed place of business which is of a preparatory or auxiliary character in the trade or business of enterprise would not be considered to be permanent establishment in india.


Practice Update (22-11-2020)
  Section 43CA   Direct Taxes

Increase in bandwidth for real estate developers and home buyers covers only section 43CA and does not cover 50C: In the Press Release, dated 13-11-2020 the Central Government has increased the bandwidth to provide incentive to real estate sector.


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