IMPORTANT INCOME TAX CASE LAWS 16.03.2026

Relevant Act	Section	Case Law Title / Authority	Brief Summary	Citation
Income Tax Act	Sec 11 & 12A	Cartrade Foundation v. CIT(E)	Delay in regularizing provisional registration (Form 10AB) due to administrative oversight is condonable if reasonable cause is shown.	Click Here
Income Tax Act	Sec 11	Rotary Club of Bombay Queens Necklace v. ITO	Exemption cannot be denied for a minor delay in filing Form 10B (Audit Report) caused by the late release of the tax utility, provided it was available during processing.	Click Here
Income Tax Act	Sec 37(1)	DCIT v. F A Construction	Ad hoc disallowances (e.g., 5%) are unsustainable if the AO has not identified specific defects in the books or vouchers produced by the firm.	Click Here
Income Tax Act	Sec 54	Mridula Agarwal v. ITO	Exemption for reinvesting LTCG is allowable for investment in more than one residential house (for the relevant year) even if made beyond the ITR due date.	Click Here
Income Tax Act	Sec 54F	Siddharth Bhaskar Shah v. PCIT	Reinvesting in six adjacent flats already adjudged as one unit in prior years cannot be challenged via Section 263 revision; the AO’s view was reasoned.	Click Here
Income Tax Act	Sec 69A	DCIT v. F A Construction	Cash withdrawals from disclosed bank accounts for business use cannot be treated as unexplained money just because the AO doubts the utilization.	Click Here
Income Tax Act	Sec 92C	Home Credit India Finance v. DCIT	For benchmarking NCD interest, Internal CUP (Comparable Uncontrolled Price) should be the Most Appropriate Method (MAM) if similar transactions exist.	Click Here
Income Tax Act	Sec 148	Nezone Tubes Ltd. v. DCIT	Reopening notice for AY 2015-16 issued on 30-07-2022 is time-barred; the benefit of TOLA (extension act) does not apply after 31-03-2022.	Click Here
Income Tax Act	Sec 234B	Punjab State Co-Op Supply v. CCIT	Interest waiver is justified for PSUs where tax defaults occurred due to lack of legal clarity (unsettled by SC and later retrospective amendments).	Click Here
Income Tax Act	Sec 271D	Ravi Rishi Educational Society v. DCIT	Penalty for cash receipt (Sec 269SS) is unsustainable if the AO failed to record satisfaction for initiating penalty in the original assessment order.	Click Here

For More ;- Read IMPORTANT INCOME TAX CASE LAWS 13.03.2026