Reopening Based on Surmises from Sister Concern’s Survey Evidence Without Direct Proof Is Invalid Reopening Based on Surmises from Sister Concern’s Survey Evidence Without Direct Proof Is Invalid Issue Whether a completed assessment under Section 143(3) can be validly reopened under Section 148 based on presumptions and survey findings from a sister concern without any… Read More »
Interest under Section 28 of Land Acquisition Act Forms Part of Compensation, Not Taxable under Income from Other Sources Issue Whether interest received on enhanced compensation under Section 28 of the Land Acquisition Act, 1894 is taxable as ‘Income from Other Sources’ under Section 56(2)(viii) or forms part of the compensation itself. Facts Compulsory Acquisition:… Read More »
Reopening Based Solely on Investigation Reports Without Verification Invalidates Assessment and Deletes Purchase Disallowances Reopening Based Solely on Investigation Reports Without Verification Invalidates Assessment and Deletes Purchase Disallowances Issue Whether an assessment can be validly reopened under Section 148 and purchases treated as bogus when the Assessing Officer acts purely on Investigation Wing inputs without… Read More »
Provisional and Confirmed Benami Attachment Valid Despite Prior PMLA Attachment Due to Non-Disclosure Provisional and Confirmed Benami Attachment Valid Despite Prior PMLA Attachment Due to Non-Disclosure Issue Whether an Initiating Officer can validly pass and continue a provisional attachment under Section 24 of the PBPT Act, 1988, leading to confirmation under Section 26(3), when the… Read More »
Deletions of Notional Rent, Booking Advances, Opening Cash Credit, Bad Debts, Routine Expenses Sustained; Penalty Deferred Pending Writ Issue Whether notional rent can be added under Section 22 when rent was received as per a validly executed and active modified rent agreement. Whether booking advances carried forward from prior years or subject to internal transfer… Read More »
Weighted Deduction Under Section 35(2AB) Is Limited to DSIR Approval, but Unapproved Portion Is Deductible Under Section 37(1) Issue Whether an in-house scientific research expenditure disallowed for weighted deduction under Section 35(2AB) due to partial approval by DSIR in Form 3CL is still allowable as a normal business expenditure under Section 37(1). Facts Assessee &… Read More »
Condonation of Delay in Form 10B Granted as Medical Grounds Outweigh Circular Time Limit Issue Whether delay in filing the audit report in Form 10B under Section 11 can be condoned under Section 119(2)(b) when supported by genuine medical grounds, despite CBDT Circular No. 16 of 2024 prescribing a three-year time limit. Facts Assessee &… Read More »
Development Fee Allegations and Technical Violations Cannot Disqualify Registered Educational Trust from Section 11 Exemption Issue Whether a registered educational trust can be denied exemption under Sections 11 and 12 on allegations of collecting capitation fees, claiming pre-AY 2015-16 depreciation, or acquiring assets via loans prior to receiving compensation under Section 11(1A). Facts Charitable Activity… Read More »
Automated CPC Technicality Cannot Defeat Legitimate Section 10AA Exemption Claimed with Belated Form 56F Issue Whether an automated processing centre (CPC) can deny a legitimate deduction under Section 10AA on procedural grounds when the required audit report (Form 56F) was obtained prior to filing the return but uploaded shortly thereafter, and whether the inability of… Read More »
Cancellation Agreement and Fresh Additional Evidence Warrant Re-evaluation of Section 54F Capital Gain Exemption Issue Whether an order denying exemption under section 54F based on a development agreement should be set aside and remanded to the Assessing Officer when crucial additional evidence—including a cancellation agreement—was admitted under Rule 29 of the ITAT Rules. Facts Return… Read More »