INCOME TAX CASE LAWS 31.10.2026 Here is the structured table containing the legal details extracted from the provided text: Section Case Law Title Brief Summary Citation Relevant Act Section 12AB Sahulat Microfinance Society v. Commissioner of Income-tax Rejection of fresh registration/renewal under section 12AB was justified where a society engaged in microfinance received major… Read More »
Penalty Quashed as Notice Specifying Concealment Contradicted Assessment Order Satisfaction for Furnishing Inaccurate Particulars Issue Whether a penalty levied under Section 271(1)(c) of the Income-tax Act, 1961 (Section 439 of the Income-tax Act, 2025) is legally sustainable when the satisfaction recorded in the assessment order was for “furnishing inaccurate particulars of income,” but the show-cause… Read More »
Revision Valid for Erroneous Interest Quantification but Invalid for Unconnected Hundi Collections Outside Reassessment Scope Issue Whether the CIT(E) was justified in invoking revisionary powers under Section 263 of the Income-tax Act, 1961 (Section 377 of the Income-tax Act, 2025) on the ground of substantial under-quantification of interest income by the AO, where the CIT(A)… Read More »