15 Important INCOME TAX  Law 25.02.2025

By | March 10, 2025
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15 Important INCOME TAX  Law 25.02.2025

Section Case Law Title Brief Summary Citation
4 Rajendra Agarwal v. ACIT, Central Circle-1 Income from unexplained sources can be assessed based on incriminating documents.  

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12A Chandragupt Shephards Welfare Association v. Commissioner of Income-tax, Exemption A show-cause notice must be issued before rejecting a registration application. Click Here
24 Ankur Goyal v. Income-tax Officer, Ward 1 (1) Interest on borrowed funds can be claimed if used for acquiring property. Click Here
35 Mahle Behr India (P.) Ltd. v. DCIT, Circle-8, Pune Weighted deduction under section 35(2AB) is not available for outsourced R&D.

R&D Expenditure Incurred Outside India Eligible for Deduction Under Section 35(1)(iv), Not 35(2AB)

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37(1) Rajendra Agarwal v. ACIT, Central Circle-1 Business expenses must be wholly and exclusively incurred for business purposes. Click Here
40(a)(ia) Rajendra Agarwal v. ACIT, Central Circle-1 Interest paid to an NBFC without TDS deduction is not deductible. Click Here
56 Income-tax Officer v. HSG Propmart (P.) Ltd. Reassessment cannot be based on an issue already examined in the original assessment. Click Here
68 Deputy Commissioner of Income-tax v. Toor Finance Company Ltd. Assessing Officer can assess income that comes to his notice during reassessment proceedings even if not specifically mentioned in the reopening order. Click Here
69 Ankur Goyal v. Income-tax Officer, Ward 1 (1) Investment from a credible source cannot be added back as unexplained income. Click Here
69A Gautam Thadani v. Director Income-tax (Investigation) A requisition under section 132A cannot be rejected on the ground of delay. Click Here
69A Gautam Thadani v. Director Income-tax (Investigation) A requisition under section 132A is valid if supported by evidence. Click Here
148A Merton v. Deputy Commissioner of Income-tax Reassessment proceedings can be initiated even after the completion of a previous reassessment. Click Here
153A Gautam Thadani v. Director Income-tax (Investigation) Assessment under section 153A must be completed within 21 months. Click Here
237 L. G. Chaudhary v. Assistant Commissioner of Income-tax Circle 2(2)(1) Taxpayers are entitled to refunds even if they have outstanding tax liabilities. Click Here
238 Mcnally Bharat Engineering Co. Ltd. v. Union of India Reassessment proceedings are barred after the approval of a resolution plan under the IBC. Click Here

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