No TDS is permissible on enhanced highway acquisition compensation as it constitutes a tax-exempt judgment debt Issue Whether tax deduction at source (TDS) under Section 194LA of the Income-tax Act can be deducted from enhanced compensation awarded via an arbitral award under Section 3G(5) of the National Highways Act for the acquisition of agricultural land,… Read More »
Proceedings Initiated Against a Deceased Person Are Legally Unsustainable and Must Target Legal Representatives Issue Whether income tax proceedings initiated and notices issued under Section 148A and Section 274 directly against a deceased assessee are legally sustainable, or if the Revenue is statutorily required to bring such actions exclusively against the legal representatives under Section… Read More »
Reassessment Notice for AY 2013-14 Issued on 31.03.2024 Quashed as Beyond Ten-Year Limit Issue Whether a reassessment notice issued under Section 148 on March 31, 2024, for the Assessment Year 2013-14 is legally sustainable, or if it must be quashed as time-barred for exceeding the absolute 10-year statutory limitation period when calculated backward from the… Read More »
Reassessment Notice Issued Beyond Ten-Year Limit Is Time-Barred and Liable to Be Quashed Issue Whether a reassessment notice issued under Section 148 on March 31, 2024, for the Assessment Year 2013-14, is legally sustainable or if it must be quashed as time-barred for exceeding the absolute statutory limitation period of 10 years when calculated backward… Read More »
Unintentional Delay in Filing Appeal Must Be Condoned to Ensure Adjudication on Substantive Merits Issue Whether a delay of 524 days in filing an appeal before the CIT(A) should be condoned in the interest of substantial justice when the assessee demonstrates a bona fide cause, and whether the CIT(A) can dismiss such an appeal solely… Read More »
Third-Party Share Capital Additions Under Section 68 Are Invalid Without Proof of Round-Tripping By Assessee Issue Whether an addition under Section 68 on account of share capital received from a third-party investor can be sustained in the hands of the recipient-assessee company in the absence of any evidence showing that the invested funds originated from… Read More »
Double disallowances must be deleted, broken-period interest is untaxable as business income, and DTAA dividend rates require verification Issue Issue I (Double Disallowance): Whether the Assessing Officer is legally justified in making an addition for a written-off investment during assessment when the assessee had already voluntarily added back and disallowed the exact same amount in… Read More »
Electronic filing of Form 10B during CIT(A) pendency satisfies audit requirements for Section 11 exemption Issue Whether a charitable trust can be denied tax exemption benefits under Section 11 and accumulation of income if it obtained its audit report in Form 10B before filing its return but failed to upload it electronically due to oversight,… Read More »
BSNL VRS 2019 compensation qualifies as tax-exempt retrenchment compensation under Section 10(10B) Issue Whether the ex-gratia compensation received by employees under the BSNL Voluntary Retirement Scheme (VRS), 2019, qualifies as tax-exempt retrenchment compensation under Section 10(10B) of the Income-tax Act, rather than under Section 10(10C), thereby constituting a fully exempt capital receipt. Facts The assessees… Read More »
Exempting Non-Shareholder Entities From Deemed Dividend Additions Under Section 2(22)(e) Issue Whether an addition on account of a deemed dividend under Section 2(22)(e) of the Income-tax Act, 1961 can be legally sustained in the hands of an entity that is not a registered or beneficial shareholder of the closely held company advancing the loan. Facts… Read More »