No TDS Required under Section 194A on Interest Paid to Statutory Universities and Wholly Government-Owned Companies

By | September 5, 2026
0 Comment

No TDS Required under Section 194A on Interest Paid to Statutory Universities and Wholly Government-Owned Companies Issue Whether a public sector undertaking is liable as an “assessee in default” under Section 201 for non-deduction of TDS under Section 194A on interest paid to statutory universities and wholly government-owned companies. Facts Assessee Status: The assessee is… Read More »

Assessment Order Passed in Name of Deceased Assessee Is Null and Void in Law

By | September 5, 2026
0 Comment

Assessment Order Passed in Name of Deceased Assessee Is Null and Void in Law Issue Whether a reassessment/fresh assessment order passed under Section 153A read with Section 144 in the name of a deceased assessee is legally sustainable. Facts Assessment Year: Assessment Year 2014-15. Original Proceedings: The assessee filed the original return of income for… Read More »

Reassessment Notice Beyond Three Years Without Specified Authority Sanction and Consequent Penalty Under Section 270A Quashed

By | September 5, 2026
0 Comment

Reassessment Notice Beyond Three Years Without Specified Authority Sanction and Consequent Penalty Under Section 270A Quashed Issue Whether a reassessment notice issued under Section 148 beyond three years from the end of the relevant assessment year without approval from the specified authority under Section 151(ii) is legally valid, and whether a penalty levied under Section… Read More »

Reassessment Notice Issued Beyond Supreme Court Extended Limitation Period Is Invalid and Void

By | September 5, 2026
0 Comment

Reassessment Notice Issued Beyond Supreme Court Extended Limitation Period Is Invalid and Void Reassessment Notice Issued Beyond Supreme Court Extended Limitation Period Is Invalid and Void\ Issue Whether a show cause notice issued under Section 148A(b) beyond the extended limitation period granted by the Supreme Court is legally sustainable. Facts Assessment Year: Assessment Year 2013-14.… Read More »

Statutory Body National Dairy Development Board Exempt From Section 115JB MAT Provisions and Section 14A Book Profit Adjustments

By | September 5, 2026
0 Comment

Statutory Body National Dairy Development Board Exempt From Section 115JB MAT Provisions and Section 14A Book Profit Adjustments Issue Whether Section 115JB (Minimum Alternate Tax) and consequential adjustments under Section 14A to book profits apply to a statutory body established under a specific Act of Parliament. Facts Assessee Status: The assessee is the National Dairy… Read More »

SLP Dismissed as Reopening Notice Lacking Sanction from Specified Authority Under Section 151 Is Invalid

By | September 5, 2026
0 Comment

SLP Dismissed as Reopening Notice Lacking Sanction from Specified Authority Under Section 151 Is Invalid Issue Whether a reassessment notice issued under Section 148 is legally sustainable when sanction for its issuance was granted by the Commissioner (Exemption) instead of the Joint Commissioner specified under Section 151 of the Income-tax Act, 1961. Facts Assessment Year:… Read More »

Reassessment Passed Under Section 147 Without First Disposing Objections by Separate Order Quashed

By | September 5, 2026
0 Comment

Reassessment Passed Under Section 147 Without First Disposing Objections by Separate Order Quashed Issue Whether a reassessment order passed under Section 147 read with Section 143(3) is legally valid when the Assessing Officer fails to dispose of the assessee’s objections to the recorded reasons for reopening by a separate speaking order prior to completing the… Read More »

Section 54GB exemption denied as company incorporation date strictly determines eligibility, not business commencement date.

By | September 5, 2026
0 Comment

Section 54GB exemption denied as company incorporation date strictly determines eligibility, not business commencement date. Issue Whether an investment in a company incorporated prior to the statutory window satisfies Section 54GB(6) eligibility criteria if manufacturing operations or MSME registration commenced within the specified period. Facts Capital Gains Realized: For Assessment Year 2017-18, the individual assessee… Read More »

Deduction allowed under Section 80IB cannot be reduced while computing deduction under Section 80HHC.

By | September 5, 2026
0 Comment

Deduction allowed under Section 80IB cannot be reduced while computing deduction under Section 80HHC. Issue Whether the Assessing Officer was justified in reducing the deduction already allowed under Section 80IB from the eligible profits while computing the deduction available under Section 80HHC of the Income-tax Act, 1961. Facts Assessee Profile: The assessee is a public… Read More »

Section 263 Revision Based on External Dictation Quashed; Interest-Free Loan to Overseas Subsidiary Held Quasi-Equity and Purchases Made for Commercial Expediency Allowed

By | September 5, 2026
0 Comment

Section 263 Revision Based on External Dictation Quashed; Interest-Free Loan to Overseas Subsidiary Held Quasi-Equity and Purchases Made for Commercial Expediency Allowed Issue Issue I (Section 263 Revision): Whether a revision order under Section 263 is legally sustainable when initiated under dictates/pressures from higher authorities rather than through independent application of mind by the Administrative… Read More »