16 IMPORTANT CASE LAWS on INCOME TAX 15.01.2025
It seems you’re looking for a concise summary of the provided Income Tax case laws in a tabular format. Here it is:
| Relevant Act & Section | Title | Summary | Citation | Rreference |
|---|---|---|---|---|
| Section 5 of the Direct Tax Vivad Se Vishwas Act, 2020 | Finality of Settlement under Vivad Se Vishwas Act | Once a Form No. 5 certificate is issued and the taxpayer deposits the determined amount, all disputes related to the ‘tax arrear’ are concluded, and no further action can be taken. | S A N Garments Manufacturing (P.) Ltd. v. Pr. Commissioner of Income-tax 7 | Click here |
| Section 9 of the Income-tax Act, 1961, 195(6), Rule 37BB, 271-I | No Penalty for Non-filing of Form 15CA/CB for Import of Goods | When remittance is made for import of goods that do not attract withholding tax, furnishing Form 15CA/CB is not mandatory, and therefore, no penalty under Section 271-I can be levied. | Kalathiya Impex v. Assistant Commissioner of Income-tax | Click here
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| Section 10AA of the Income-tax Act, 1961 | Deduction under Section 10AA on Voluntary Transfer Pricing Adjustment | If an assessee makes a voluntary transfer pricing adjustment and includes it in their total income while claiming deduction under Section 10AA, they are eligible for the deduction on the adjusted profits. | Deputy Commissioner of Income-tax v. EYGBS (India) (P.) Ltd. | Click Here |
| Section 32 of the Income-tax Act, 1961 | Tribunal Can Fix Time Limit for Setting Off Unabsorbed Depreciation | As Section 32(2) does not specify a time limit for setting off unabsorbed depreciation, the Tribunal can fix a reasonable limit (e.g., eight years). | Tamil nadu Small Industries Corporation Ltd. v. Assistant Commissioner of Income-tax | Click here |
| Section 37(1) of the Income-tax Act, 1961 | Contribution to Unrecognized PF Allowable as Business Expenditure | Contributions to employee provident funds, even if not to a recognized fund, are allowable business expenses under Section 37(1). | CIT Panchkula v. Haryana Vidyut Prasaran Nigam Ltd. – [2025] | Click here |
| Section 40(a)(ia) of the Income-tax Act, 1961 | Remand for Verification of Form 15G/15H for Interest Disallowance | If interest expenditure is disallowed under Section 40(a)(ia) for not furnishing Form 15G/15H, the matter can be remanded for verification of the forms. | Suresh Kishinchand Changwani v. Deputy Commissioner of Income-tax – | Click here |
| Section 43B of the Income-tax Act, 1961 | Discharge of Liability through Equity Shares | Liability for electricity duty can be discharged by allotting equity shares, which qualifies as actual payment under Section 43B. | CIT Panchkula v. Haryana Vidyut Prasaran Nigam Ltd. | Click here |
| Section 43B of the Income-tax Act, 1961 | Disallowance of Provision for Leave Salary | Provision for leave salary is disallowable under Section 43B(f). | Tamil nadu Small Industries Corporation Ltd. v. Assistant Commissioner of Income-tax | Click here |
| Section 69 of the Income-tax Act, 1961 | No Addition for Explained Investments | If the source of investment for immovable property is explained with supporting evidence, no addition can be made under Section 69. | Rekha Sanjeev Bhatt v. ITO | Click here |
| Section 69A of the Income-tax Act, 1961 | No Addition for Explained Cash Deposits | If the source of cash deposits is explained with documentary evidence, no addition can be made under Section 69A. | Rekha Sanjeev Bhatt v. ITO | Click here |
| Section 69A of the Income-tax Act, 1961 | Deletion of Addition for Unrelated Cash Deposits | If cash deposit transactions are unrelated to the assessee, any addition made under Section 69A should be deleted. | Rotluanga Stephen v. Income-tax Officer – | Click here |
| Section 69C of the Income-tax Act, 1961 | No Addition for Explained Purchases | If the genuineness of purchases is established with supporting evidence, no addition can be made under Section 69C even if suppliers do not appear before the AO. | Suresh Kishinchand Changwani v. Deputy Commissioner of Income-tax – | Click here |
| Section 127 of the Income-tax Act, 1961 | Transfer Order Set Aside for Vague Reasons | A transfer order under Section 127 can be set aside if based on vague reasons and without proper justification. | Pradeep Kumar Kajaria v. Union of India – | Click here |
| Section 144 of the Income-tax Act, 1961 | No New Claims After Resolution Plan Approval | No new tax claims can be made against a resolution applicant after a resolution plan has been approved. | NS Papers Ltd. v. Union of India | Click here |
| Section 269SS, section 271D of the Income-tax Act, 1961 | No Penalty for Cash Received from Sale of Agricultural Land | If cash received from the sale of agricultural land is duly disclosed and recorded, no penalty under Section 271D can be imposed. | Rakesh Ganapathy v. JCIT | Click here
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| Section 271AAC of the Income-tax Act, 1961 | Deletion of Penalty on Deletion of Addition | If an addition under Section 69A is deleted, the corresponding penalty under Section 271AAC should also be deleted. | Rotluanga Stephen v. Income-tax Officer – | Click here |