INCOME TAX CASE LAW DIGEST 12.6.2026 INCOME TAX CASE LAW DIGEST 12.6.2026 Relevant Act Section(s) / Rule(s) Case Law Title Citation Brief Summary Income Tax Act, 1961 Section 10(23FBA) Deputy Commissioner of Income-tax vs. Sundaram Alternative Opp Series High Yield Secured Debt fund Click Here Exemption under Section 10(23FBA) is allowable for NCD processing fees… Read More »
Donations Sourced From Corporate Social Responsibility Funds Qualification Under Section 80G Are Fully Valid And Omitted Tax Credits Under Section 90 Must Be Factually Restored Donations Sourced From Corporate Social Responsibility Funds Qualification Under Section 80G Are Fully Valid And Omitted Tax Credits Under Section 90 Must Be Factually Restored Issue Whether a company can… Read More »
An Intimation Under Section 143(1) Does Not Merge Into A Scrutiny Assessment Order Passed Under Section 143(3) And Adjustments Therein Must Be Appealed Separately Issue Whether an intimation issued under Section 143(1) merges into a subsequent scrutiny assessment order passed under Section 143(3) when the Assessing Officer merely adopts the income from the intimation without… Read More »
Notices Issued Solely Through The ITBA Portal Do Not Constitute Valid Service Of Notice And Consequential Denial Of Section 80G Approval Is Unsustainable Issue Whether the service of statutory show-cause notices issued exclusively via the Income Tax Business Application (ITBA) portal satisfies the valid modes of service prescribed under Section 282(1) read with Rule 127(1),… Read More »
Corporate Social Responsibility Spend Is Eligible For Section 80G Deductions And Working Capital Adjustments Preclude Separate Interest Imputations On Outstanding Receivables Issue Whether Corporate Social Responsibility (CSR) expenditure, which is statutorily disallowed as a business expense under Section 37(1), can be claimed as a deduction under Section 80G if the donation is made to a… Read More »
Deductions Amortized In Prior Years Cannot Be Arbitrarily Disallowed In The Final Year And ESOP Cost Rebounds Are Revenue Expenses But Share Issue Costs Expand Capital Base Permanently Deductions Amortized In Prior Years Cannot Be Arbitrarily Disallowed In The Final Year And ESOP Cost Rebounds Are Revenue Expenses But Share Issue Costs Expand Capital Base… Read More »
Reassessment Notice Issued Beyond The Supreme Court Mandated Calculation Period Post-Ashish Agarwal And Rajeev Bansal Ruling Is Invalid As Time-Barred Reassessment Notice Issued Beyond The Supreme Court Mandated Calculation Period Post-Ashish Agarwal And Rajeev Bansal Ruling Is Invalid As Time-Barred Issue Whether the reassessment order under Section 148A(d) and the subsequent notice under Section 148,… Read More »
Alternative Investment Fund’s Exemption Under Section 10(23FBA) Cannot Be Denied By Arbitrarily Reclassifying Investment Returns As Business Income Issue Whether the Assessing Officer was justified in re-characterizing an Alternative Investment Fund’s (AIF) interest income, short-term capital gains, and processing fees as business income to deny tax exemption under Section 10(23FBA), without applying settled judicial tests… Read More »