15 Important INCOME TAX  Law 25.02.2025

By | March 10, 2025
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15 Important INCOME TAX  Law 25.02.2025

SectionCase Law TitleBrief SummaryCitation
4Rajendra Agarwal v. ACIT, Central Circle-1Income from unexplained sources can be assessed based on incriminating documents. 

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12AChandragupt Shephards Welfare Association v. Commissioner of Income-tax, ExemptionA show-cause notice must be issued before rejecting a registration application.Click Here
24Ankur Goyal v. Income-tax Officer, Ward 1 (1)Interest on borrowed funds can be claimed if used for acquiring property.Click Here
35Mahle Behr India (P.) Ltd. v. DCIT, Circle-8, PuneWeighted deduction under section 35(2AB) is not available for outsourced R&D.

R&D Expenditure Incurred Outside India Eligible for Deduction Under Section 35(1)(iv), Not 35(2AB)

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37(1)Rajendra Agarwal v. ACIT, Central Circle-1Business expenses must be wholly and exclusively incurred for business purposes.Click Here
40(a)(ia)Rajendra Agarwal v. ACIT, Central Circle-1Interest paid to an NBFC without TDS deduction is not deductible.Click Here
56Income-tax Officer v. HSG Propmart (P.) Ltd.Reassessment cannot be based on an issue already examined in the original assessment.Click Here
68Deputy Commissioner of Income-tax v. Toor Finance Company Ltd.Assessing Officer can assess income that comes to his notice during reassessment proceedings even if not specifically mentioned in the reopening order.Click Here
69Ankur Goyal v. Income-tax Officer, Ward 1 (1)Investment from a credible source cannot be added back as unexplained income.Click Here
69AGautam Thadani v. Director Income-tax (Investigation)A requisition under section 132A cannot be rejected on the ground of delay.Click Here
69AGautam Thadani v. Director Income-tax (Investigation)A requisition under section 132A is valid if supported by evidence.Click Here
148AMerton v. Deputy Commissioner of Income-taxReassessment proceedings can be initiated even after the completion of a previous reassessment.Click Here
153AGautam Thadani v. Director Income-tax (Investigation)Assessment under section 153A must be completed within 21 months.Click Here
237L. G. Chaudhary v. Assistant Commissioner of Income-tax Circle 2(2)(1)Taxpayers are entitled to refunds even if they have outstanding tax liabilities.Click Here
238Mcnally Bharat Engineering Co. Ltd. v. Union of IndiaReassessment proceedings are barred after the approval of a resolution plan under the IBC.Click Here

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