Daily Archives: July 17, 2026

No penalty for under-reporting is leviable on retrospective disallowance of a bona fide education cess claim.

By | July 17, 2026
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No penalty for under-reporting is leviable on retrospective disallowance of a bona fide education cess claim. Issue Whether a penalty for under-reporting income under Section 270A can be legally sustained when the deduction claimed (Education Cess) was based on prevalent judicial precedents but was subsequently disallowed by a retrospective amendment under the Finance Act, 2022.… Read More »

Policy servicing fees to aggregators are allowable deductions, and Section 14A disallowance is inapplicable to insurance businesses.

By | July 17, 2026
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Policy servicing fees to aggregators are allowable deductions, and Section 14A disallowance is inapplicable to insurance businesses. Issue Whether payments made by a general insurance company to aggregators/intermediaries for policy servicing and support activities can be disallowed under Explanation 1 to Section 37(1) as an expense prohibited by law, in the absence of any penal… Read More »

Post-Act suits cannot enforce rights in pre-existing benami properties, which face government acquisition.

By | July 17, 2026
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Post-Act suits cannot enforce rights in pre-existing benami properties, which face government acquisition. Issue Whether a plaintiff can maintain a suit to enforce rights or protect possession over a property purchased benami before 1988 if the suit is filed after the Benami Act’s commencement. Whether the original sellers or their legal heirs can assert continued… Read More »

Assessment Under Section 153C Requires Incriminating Material; Single Agricultural Land Sale Is Exempt Capital Asset.

By | July 17, 2026
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Assessment Under Section 153C Requires Incriminating Material; Single Agricultural Land Sale Is Exempt Capital Asset. Issue Whether the Revenue can validly initiate proceedings and complete an assessment under Section 153C read with Section 153A without satisfying that the seized documents are of an “incriminating” nature and legally linkable to the relevant Assessment Year. Whether a… Read More »