Writ remedy is denied for alleged parallel GST assessments when statutory rectification remains available. Issue Whether a second order-in-original issued on identical allegations for the same tax period is barred as a parallel proceeding under Section 6 of the CGST/TGST Act, 2017, when the petitioner failed to participate in the proceedings and a statutory rectification… Read More »
INCOME TAX CASE LAW 23.05.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-Tax Act, 1961 Sec. 2(14) Keshavareddy Krishnareddy v. ACIT Click Here Compensation received from compulsory acquisition of agricultural land is not taxable under capital gains as agricultural lands are explicitly excluded from the definition of a capital asset under Sec. 2(14).… Read More »
Penalty proceedings under Section 271D must be kept in abeyance during pending quantum appeal. Issue Whether penalty proceedings initiated under Section 271D for alleged violation of Section 269SS must be kept in abeyance when the underlying quantum assessment order is under challenge and pending disposal before the CIT(A). Facts An assessment order was passed against… Read More »
Retail traders are functionally dissimilar to wholesale traders and cannot be selected as comparables. Issue Issue I & II (Transfer Pricing): Whether companies operating in the retail or after-sales market are functionally comparable to a wholesale trader supplying components directly to Original Equipment Manufacturers (OEMs) for the determination of Arm’s Length Price (ALP). Issue III… Read More »
Tax demands not included in an NCLT-approved resolution plan cannot be enforced against the corporate debtor. Issue Whether the Income-tax Department can legally enforce a notice of demand and penalty notices issued under the Income-tax Act against a corporate debtor after the National Company Law Tribunal (NCLT) has approved a resolution plan under Section 31… Read More »
The Assessing Officer cannot rectify a final tax determination order passed under the DTVSV Act. Issue Whether the Assessing Officer has the jurisdiction under Section 154 of the Income-tax Act to rectify a tax determination certificate issued by the Principal Commissioner under Section 5(2) of the Direct Tax Vivad se Vishwas (DTVSV) Act, 2020 based… Read More »
Everything Announced at Google I/O 2026: Gemini 3.5, Search Overhaul, & Android XR 🧠 Foundational Models: Gemini 3.5 Series & Gemini Omni Google highlighted the staggering scale of its infrastructure, revealing that it now processes quadrillions of tokens monthly across its global products. To fuel this demand, Google DeepMind unveiled its newest flagship models: 1.… Read More »
Reassessment notices issued under an obsolete PAN without considering the assessee’s reply are invalid. Issue Issue I (Reassessment Validity): Whether a reassessment notice issued under Section 148 using an incorrect, obsolete PAN is legally valid when the assessee had already informed the Assessing Officer (AO) of their correct PAN and details during Section 148A(b) proceedings.… Read More »
Flat estimation of 15% net profit on government contracts is unjustified; 7% rate is reasonable. Issue Issue I (Presumptive Taxation / Best Judgment): Whether the Assessing Officer was justified in making an ex-parte best judgment assessment estimating the net profit at a flat rate of 15% on government contractual receipts merely because the turnover exceeded… Read More »
Time-share membership fees can be deferred over the contract period to match future service obligations. Issue Whether an assessee engaged in a time-share business can defer a portion of its membership fees over the contract period to match future maintenance obligations, or if the entire amount must be taxed in the year of receipt. Facts… Read More »