Sale of Land Taxed as Capital Gains; Gram Panchayat Certificate Insufficient to Prove Distance from Municipality Issue Whether a certificate issued by a Gram Panchayat is sufficient evidence to prove that agricultural land is situated beyond 8 kms from municipal limits (and thus exempt from Capital Gains Tax), or if a certificate from a competent… Read More »
Important Income tax case laws 15.12.2025 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 2(14) (Capital Asset) Manjit Kaur Kamboj v. Income-tax officer Assessment of land as a capital asset and consequent capital gain addition was justified as the assessee failed to prove the land was not within the 7… Read More »
Penalty for “Concealment” Deleted; Disallowance of a Claim is not “Inaccurate Particulars” Issue Whether a penalty for “concealment of income” or “furnishing inaccurate particulars” under Section 271(1)(c) can be levied merely because the Assessing Officer (AO) disallowed a deduction claimed by the assessee (u/s 42 and 80-IB), even though all factual details furnished were correct.… Read More »
Bail Granted in GST “Fake Firm” Case: Prolonged Custody & Magistrate Trial outweigh Severity of Offence Issue Whether an accused arrested for alleged GST evasion (involving fake firms and supplies) is entitled to bail when they have already undergone prolonged incarceration (1.5 years), the investigation is complete, and the offence is triable by a Magistrate,… Read More »
Addition based on “Dumb Documents” & Retracted Statements Deleted Issue Whether additions (Unexplained Money/Capital Gains) can be sustained based solely on Excel sheets found on a third party’s device and statements that were later retracted, without independent corroboration. Facts The Evidence: During a search on a group company, Excel sheets were seized from a third… Read More »