IMPORTANT INCOME TAX CASE LAW 09.06.2025 SECTION CASE LAW TITLE Brief Summary Citation Relevant Act 2(14) Parasmal Ravindra Kumar v. Income-tax Officer Land situated 16 kms from the municipality, confirmed as agricultural by the Village Administrative Officer with records showing cultivation, is agricultural land and exempt from taxation. Click Here Income-tax Act, 1961 2(24) Commissioner… Read More »
A refund cannot be denied for a TDS mismatch if the assessee filed a revised return in time and the revenue neither rejected it nor communicated any defect Issue Whether the revenue department can legally ignore a revised return of income that was filed within the prescribed time to cure a defect notified under Section… Read More »
Criminal prosecution for tax evasion under Section 276C cannot continue once the penalty for concealment on the same facts has been deleted by the Appellate Tribunal. Issue Whether criminal prosecution for the offence of wilful attempt to evade tax under Section 276C(1) of the Income-tax Act, 1961, can be sustained against an assessee when the… Read More »
Assessments under Section 153A are invalid if initiated for cash seized during an election period where the specific procedural exceptions under Rule 112F have been ignored by the Assessing Officer. Issue Whether assessment proceedings initiated under Section 153A of the Income-tax Act, 1961 for six preceding assessment years are legally valid when the underlying search… Read More »
Matter remanded for fresh consideration on setting off business loss against deemed short-term capital gains from depreciable assets in light of new judicial precedent. Issue Whether brought forward business loss under Section 72 of the Income-tax Act, 1961, can be set off against short-term capital gains computed under Section 50, which arise from the sale… Read More »
How to REPORT outward Foreign Remittance in ITR AY 2025-26 ! AVIOD Income Tax NOTICE