Daily Archives: February 5, 2025

8 IMPORTANT INCOME TAX CASE LAWS 03.02.2025 Sr No Case Law Title Brief Summary Citation Relevant Section and Act 1 Rachakonda Srinivas Rao v. Initiating Officer, BPU, Hyderabad Property held not to be benami property. Click here Section 2(9) Prohibition of Benami Property Transactions Act, 1988 2 Assistant Commissioner of Income-tax (Exemptions) v. Karnataka Institute… Read More »

Income Tax Stay of Demand: Non-Speaking Orders Set Aside, Matter Remanded Summary in Key Points: Issue: Were the orders rejecting the assessee’s stay of demand application valid, given that they were non-speaking and did not address the merits of the case? Facts: The assessee, facing a tax demand for AY 2022-23, filed an application for stay… Read More »

Income Tax Reopening Notice Quashed: Resolution Plan by NCLT  Discharges Tax Dues Summary in Key Points: Issue: Was the reopening notice issued under Section 148 valid after the approval of a resolution plan by the National Company Law Tribunal (NCLT) that discharged all income tax dues? Facts: The High Court held that a Section 148… Read More »

 Assessment Order Time-Barred: DRP Directions Deemed Received on Upload Date on Portal Summary in Key Points: Issue: Was the assessment order passed within the time limit prescribed under Section 144C(13) after receiving directions from the Dispute Resolution Panel (DRP)? Facts: The DRP issued its directions on June 30, 2022, which were also uploaded to the… Read More »

Writ Petition Challenging Intimation under Section 143(1) Dismissed: Appeal Remedy Available : Section 246A does not mandate a pre-deposit for admitting and entertaining an appeal, Summary in Key Points: Issue: Could the High Court exercise its writ jurisdiction to interfere with an intimation under Section 143(1) raising a substantial tax demand, or was the assessee… Read More »

Revision under Section 263 Invalid:Exemption Claimed in Section 11, No Prejudice to Revenue Summary in Key Points: Issue: Was the Principal Commissioner of Income Tax (Pr.CIT) justified in invoking Section 263 to revise the assessment orders granting exemption under Section 11? Facts: The assessee trust obtained registration under Section 12A with retrospective effect. They filed… Read More »

Exemption under Section 10(23C)(iiiac) Allowed: Interest on Unspent Grants to be Included I. Section 10(23C)(iiiac) Title: Exemption under Section 10(23C)(iiiac) Allowed: Interest on Unspent Grants Included Summary in Key Points: Issue: Was the assessee-trust, running an educational institution, eligible for exemption under Section 10(23C)(iiiac) despite receiving less than 50% of total receipts as government grants?… Read More »

Provisional Attachment Order Set Aside: Transaction Not Benami Summary in Key Points: Issue: Was the provisional attachment of the property justified under the Prohibition of Benami Property Transactions Act, 1988? Facts: The Information Wing received information about a property purchase agreement between S (alleged benamidar) and ICON Constructions (interested party). It was alleged that the… Read More »