Order Under Section 148A(d) Quashed as Assessing Officer Shifted Reassessment Grounds Beyond Show Cause Notice Scope Issue Whether an order passed under Section 148A(d) and the consequent notice under Section 148 of the Income-tax Act, 1961 (Section 281 read with Section 280 of the Income-tax Act, 2025) are legally sustainable when the Assessing Officer shifts… Read More »
Interest on Borrowings for Acquiring NCDs Includible in Cost of Acquisition for Capital Gains Computation Issue Whether interest paid on borrowed funds utilized for acquiring Non-Convertible Debentures (NCDs) forms an integral part of the cost of acquisition for computing capital gains under Section 48 of the Income-tax Act, 1961 (Section 69 of the Income-tax Act,… Read More »
Reassessment Notice Issued After Limitation Under First Proviso to Section 149 Is Void and Quashed Issue Whether a reassessment notice issued under Section 148 on 11.04.2022 for Assessment Year 2015-16 is barred by limitation under the first proviso to Section 149 of the Income-tax Act, 1961 (Section 282 of the Income-tax Act, 2025), rendering the… Read More »
Reassessment Based on Tangible Post-Assessment Investigation Report Having Live Link with Escaped Income Is Valid and Not Change of Opinion Issue Whether the initiation of reassessment proceedings under Section 148 of the Income-tax Act, 1961 (Section 280 of the Income-tax Act, 2025) based on a post-assessment Investigation Unit report regarding the overvaluation of sold shares… Read More »
Transfer Consideration for Intangible Assets is Nontaxable Capital Receipt as Cost of Acquisition Remains Unascertainable Issue Whether the assignment of user rights in intangible assets to a family trust under a dissolution deed, in exchange for a variable profit share, constitutes a sale or a license/assignment of user rights. Whether the sum of ₹50 crores… Read More »
Tolerance Band under Section 43CA Applies Retrospectively and Valuation Objections Warrant DVO Reference Issue Whether the 10% tolerance band under Section 43CA / Section 53 of the Income-tax Act, 2025 is curative in nature and applicable retrospectively to Assessment Year 2016-17. Whether the Assessing Officer is required to examine allotment/agreement dates and refer the matter… Read More »
Deduction for Provision to Approved Gratuity Fund Allowed Under Specific Section 40A(7)(b) Over Section 43B Issue Whether a provision made towards a contribution to an approved gratuity fund is allowable as a deduction under Section 40A(7)(b) of the Income-tax Act, 1961 (Section 36 of the Income-tax Act, 2025), or if it can be disallowed under… Read More »
PF/ESIC Remitted Within Extended Wage-Payment Due Date and Mediclaim Reimbursements Are Deductible, While Delayed Remittances and Penal Statutory Interest Stand Disallowed Issue Whether employees’ contributions to PF and ESIC deposited within the due date calculated from the actual month of wage payment (where wages are paid in the following month) are allowable under Section 36(1)(va)… Read More »
Royalty for Non-Exclusive Trademark Use and Interest When Having Surplus Funds Are Allowable Deductions Issue Whether royalty paid for non-exclusive and non-transferable rights to use a trademark/logo constitutes allowable revenue expenditure under Section 37(1) of the Income-tax Act, 1961 (Section 34 of the Income-tax Act, 2025). Whether disallowance of overdraft (OD) interest under Section 36(1)(iii)… Read More »
Reassessment Valid and Depreciation Remanded as Denying Investigation Report for Rebuttal Violates Principles of Natural Justice Issue Whether the reassessment proceedings initiated under Section 148 based on GST investigation inputs regarding bogus vendor invoices are valid, and whether disallowing depreciation on capital asset purchases without sharing the underlying investigation report with the assessee for rebuttal… Read More »