IMPORTANT INCOME TAX CASE LAWS 01.04.2026

Section	Case Law Title	Key Ruling Summary	Citation
Sec 5	Kalyan Jewellers India Ltd.	Notional ‘Mark-to-Market’ (MTM) profits from derivative contracts are unrealized gains and not taxable until actual accrual or realization.	Click Here
Sec 72 & 139	Technovaa Plastic Industries	Supreme Court Ruling: Revenue is bound by an NCLT Resolution Plan. Losses must be carried forward as provided in the plan, even if returns were filed late during the IBC process.	Click Here
Sec 2(24) / 115JB	Glenmark Pharmaceuticals	Excise duty exemptions are capital receipts and not liable to tax as income; they must be excluded from book profit computation for MAT.	Click Here
Sec 149	Jignesh Ramniklal Doshi	Reopening an assessment for AY 2012-13 based on a 2022 search is time-barred; the limit only permits going back 10 assessment years.	Click Here
Sec 41(1)	Girish Raghavan	A mere time-lapse or expiry of limitation for a debt does not prove “cessation of liability”; addition cannot be made solely because a creditor remains unpaid.	Click Here
Sec 271(1)(c)	Dazzler Confectionery	Penalty is invalid if the AO fails to specify the exact charge (concealment of income vs. furnishing inaccurate particulars) in the notice.	Click Here