INCOME TAX CASE LAW DIGEST 05.09.2026 INCOME TAX CASE LAW DIGEST 05.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 11 Society for Human Transformation and Research v. Income-tax Officer Invocation of Section 40A(2)(a) and denial of Sections 11/12 exemption was unsustainable where loans were given to specified persons at lower interest from… Read More »
Supreme Court Grants SLP Against High Court Order Dismissing Revenue’s Appeal On Low Tax Effect Under Black Money Act Supreme Court Grants SLP Against High Court Order Dismissing Revenue’s Appeal On Low Tax Effect Under Black Money Act Issue Whether a Special Leave Petition (SLP) should be granted against a High Court order that dismissed… Read More »
Partner challenging quashed interest waiver rejection is an appellant eligible under Vivad se Vishwas 2024. Issue Whether an assessee whose interest waiver application under Section 220(2A) was rejected, and who challenged such rejection via a writ petition pending on the specified date (22.07.2024), qualifies as an “appellant” eligible to settle disputed interest under the Direct… Read More »
Where Same Assessing Officer Handles Searched Person and Third Party, Section 153C Assessment Time Limit Expires on September 30, 2021 Issue Whether Section 153C assessment proceedings for AYs 2014-15 to 2019-20 were time-barred and liable to be quashed when the Assessing Officer of the searched person and the third-party assessee was the same, and the… Read More »
Reassessment Notice Issued Without Sanction From Specified Authority Under Section 151 Is Invalid and Quashed Reassessment Notice Issued Without Sanction From Specified Authority Under Section 151 Is Invalid and Quashed Issue Whether a reopening notice issued under Section 148 for AY 2015-16 without the sanction of the specified authority under Section 151 of the Income-tax… Read More »
Section 148 Reassessment Notice Issued for AY 2015-16 After March 31, 2026 is Barred by Limitation Issue Whether a notice issued under Section 148 of the Income-tax Act, 1961 for Assessment Year 2015-16 after March 31, 2026 is barred by limitation under the first proviso to Section 149(1), rendering the consequent reassessment proceedings bad in… Read More »
Form 10-IC Exercised for Earlier Year Validates Concessional Tax Benefit Under Section 115BAA for Subsequent Years Issue Whether an option under Section 115BAA(5) once exercised by filing Form No. 10-IC for Assessment Year 2023-24 automatically applies to the subsequent Assessment Year 2024-25, thereby entitling the assessee to the concessional tax regime. Facts The assessee-company opted… Read More »
Deletion of additions for third-party impounded documents, bank stock estimates, off-the-shelf software TDS, and election estimates, with net profit on undisclosed turnover capped at 12%. Issue Whether additions made on account of estimated net profit rates, impounded documents pertaining to third parties, software payment TDS disallowance, inflated bank stock statements, unverified land/renovation entries, proposed election… Read More »
Tribunal Remands GST Refund Mismatch Issue for Fresh Assessment and Deletes Trade Payable Addition Issue Whether additional evidence regarding GST refund mismatch justifies remanding the Section 143(1) loss adjustment for de novo adjudication, and whether trade payable additions under Section 68 can survive when reconciliations are provided without contrary evidence from Revenue. Facts Return &… Read More »
Assessee-trust entitled to set-off as Section 68 addition of 10-year-old land advance is unsustainable. Assessee-trust entitled to set-off as Section 68 addition of 10-year-old land advance is unsustainable. Issue Whether an advance received towards the sale of land in FY 2006-07 can be taxed as unexplained cash credit under Section 68 in AY 2016-17 on… Read More »