Assignment of GIDC Leasehold Rights Non-Taxable Under GST and Suppression Penalties Disallowed Issue Whether (1) the assignment or transfer of leasehold rights in a GIDC industrial plot constitutes a taxable supply of services under GST, and (2) invocation of Section 74 alongside penalties under Section 74 and Section 122 is sustainable when the taxpayer initially… Read More »
IGST Levy on Ocean Freight Unlawful and Impugned Orders Quashed Following Supreme Court Mohit Minerals Ruling Issue Whether impugned orders imposing Integrated Goods and Services Tax (IGST) on ocean freight services are legally sustainable in light of the binding precedent set by the Supreme Court in Union of India v. Mohit Minerals (P.) Ltd. Facts… Read More »
INCOME TAX CASE LAWS 28.10.2026 Here is the requested case law information organized in a structured table format: Section Case Law Title Citation Brief Summary Relevant Act Section 2(42A) Venkataswaroop Reddy Siddavarapu v. Deputy Commissioner of Income-tax Click here Where shares were received via gift and fair market value was offered to tax under Sec… Read More »
Surrendered Technical Service Fee Recorded in Books Lacks Undisclosed Income Status Forvis-a-vis Section 271AAB Penalty Issue Whether a mere surrender or disclosure of income made in a statement under Section 132(4) automatically qualifies as “undisclosed income” under Section 271AAB, and whether penalty under Section 271AAB can be levied on surrendered technical service fees that were… Read More »
Reassessment Notice Passed After Three Years Without PCCIT/CCIT Approval Under Section 151 Held Invalid Issue Whether an order under Section 148A(d) and a consequential reassessment notice under Section 148 issued after the expiry of three years from the end of the relevant assessment year are valid when sanctioned by a PCIT instead of the specified… Read More »
Reassessment Notice Issued Under Section 148 for AY 2015-16 Beyond Ten Years Is Time-Barred and Quashed Issue Whether a reassessment notice dated March 31, 2026, issued under Section 148 for Assessment Year 2015-16, was issued beyond the maximum permissible ten-year time limit prescribed under Section 149 and thus liable to be quashed. Facts Assessment Year:… Read More »
Reassessment Order Quashed as Assessing Officer Issued Section 143(2) Notice Before Disposing of Objections Issue Whether reassessment proceedings under Section 147 and the consequential assessment order are legally sustainable when the Assessing Officer issues a notice under Section 143(2) prior to disposing of the assessee’s objections against the reopening of assessment. Facts Assessment Year: The… Read More »
Reassessment Valid for Unreported VAT Differences Issued Before Section 148A Effective Date Stand Sustained Issue Whether the High Court was justified in refusing to quash reassessment proceedings at a preliminary stage when initiated on account of discrepancy between VAT returns and books of account discovered during a survey. Whether the extended period of limitation for… Read More »
Reassessment Without Fresh Tangible Material and Failure to Comply with Section 148A Is Invalid Issue Whether reopening an assessment under Section 147 on an issue thoroughly examined in original assessment proceedings—without any fresh tangible material and without complying with the mandatory Section 148A procedure—is legally valid. Facts Original Proceedings (A.Y. 2009-10 & 2010-11): Original assessments… Read More »
Capital Gains Exempt Under Section 54G Must Be Excluded When Computing MAT Book Profit Issue Whether an assessee, whose entitlement to capital gains exemption under Section 54G is accepted under normal provisions, can claim exclusion of such capital gains while computing book profit under Section 115JB, even if omitted in the original return. Facts Property… Read More »