IMPORTANT INCOME TAX CASE LAWS 06.02.2026

Relevant Act	Section	Case Law Title	Brief Summary	Citation
Income-tax Act, 1961	Section 32	Anshul Speciality Molecules (P.) Ltd. v. DCIT	[Goodwill in Slump Sale] Excess consideration paid over net assets in a slump sale (as a going concern) to acquire commercial rights/licences is “Goodwill.” This qualifies as an intangible asset, and depreciation is allowable u/s 32(1)(ii).	Click Here
Income-tax Act, 1961	Section 36(1)(va)	Rational Business Corp (P) Ltd v. DCIT	[Retrospective Disallowance] The SC ruling in Checkmate Services (mandatory PF/ESI deposit by statutory due date) has retrospective effect. Any delay reported in the Tax Audit Report will lead to disallowance even for past years.	Click Here
Income-tax Act, 1961	Section 41(1)	DCIT v. Rudra Buildwell Homes (P.) Ltd.	[Loan Assignment ≠ Remission] Assigning a loan to an Asset Reconstruction Company (ARC) at a discount does not mean the borrower’s liability has ceased. Unless there is an OTS/waiver, the borrower remains liable for the full amount; hence, no tax u/s 41(1).	Click Here
Income-tax Act, 1961	Section 56(2)(x)	VS Trust v. Income-tax Officer	[Relative Exception for Trusts] A private trust established solely for the benefit of relatives of the settlor is exempt from tax on gifts/shares received from the settlor under the “Relative” exception of Section 56.	Click Here
Income-tax Act, 1961	Section 127	Kunshan Q Tech Microelectronics v. DCIT	[Jurisdiction Void] A transfer of case u/s 127 by a Principal Commissioner who did not hold charge over corporate assessees is void ab initio. All subsequent assessments and DRP directions based on this transfer are a nullity.	Click Here
Income-tax Act, 1961	Section 149	CCIT v. Sheetal International (P.) Ltd.	[Reassessment Time-Bar] The SC dismissed the Revenue’s SLP, confirming that a Section 148 notice for AY 2017-18 issued on 1-5-2024 is barred by the limitation prescribed in the first proviso to Section 149(1).	Click Here
Income-tax Act, 1961	Section 164	Deloitte Employees Welfare Trust v. ITO	[Trust Tax Rate] A trust created for the welfare of a company’s employees falls under the specific exception u/s 164. Its income should be taxed at AOP rates, not the Maximum Marginal Rate (MMR).	Click Here

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