Daily Archives: March 17, 2026

Condonation Of Delay In Form 10AB And Regularisation Of Trust Registration This ruling (March 2026) provides a major procedural shield for charitable institutions struggling with the new “two-tier” registration process (Provisional to Regular). It clarifies that administrative oversights are condonable and that the Commissioner cannot reject applications on technical grounds without exercising their discretionary power.… Read More »

IMPORTANT INCOME TAX CASE LAWS 17.03.2026 Relevant Act Section Case Law Title / Authority Brief Summary Citation Income Tax Act Sec 2(15) & 11 D.A.V. Educational Trust v. ITO Surplus from selling books/uniforms is incidental to educational objects. If applied to school infrastructure, the trust remains eligible for Section 11 exemption. Click Here Income Tax… Read More »

Transfer Pricing Adjustments and the Shield Against Penalty: A Legal Analysis This ruling for AY 2020-21 provides a critical safeguard for companies engaged in international transactions. It clarifies that a “difference of opinion” in valuation—specifically an upward adjustment to the Arm’s Length Price (ALP)—does not automatically qualify as “misreporting” or “concealment” of income. I. Transfer… Read More »

The Jurisdictional Validity Of Faceless Reassessment Prior To Statutory Notification (AY 2017-18) This ruling addresses a fundamental jurisdictional conflict that arose during the transition of the Indian Tax Department to a fully digital, faceless ecosystem. It clarifies when the National Faceless Assessment Centre (NFAC) officially gained the legal power to conduct reassessments under Section 147.… Read More »

A Legal Analysis of Procedural Lapses in Section 143(1) Adjustments for Patent Royalty Income This significant ruling for AY 2024-25 emphasizes that the Income Tax Department’s power to make “summary adjustments” is not absolute. Even when a statutory condition (like filing a form on time) is allegedly missed, the Department must follow a strict procedural… Read More »