| Sec 2(47) |
N. G. Chandra Reddy (HUF) |
JDA Transfer: An irrevocable license/possession via GPA is a “transfer.” However, if consideration was taxed in later years, it cannot be taxed again in the year of transfer (No double taxation). |
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| Sec 10(10B) |
Bajirao Shankar Jagdale |
VRS Ex-gratia: Compensation under BSNL VRS-2019 is “Retrenchment Compensation.” It is a fully exempt capital receipt, not limited by the Sec 10(10C) cap. |
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| Sec 12AB |
Gramonnati Trust |
Registration vs. Exemption: Registration cannot be rejected just because Sec 2(15) is triggered. Rejection/Cancellation and denial of annual exemption are different legal stages. |
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| Sec 12AB |
Livesurge Medical Trust |
Non-commencement: Registration for a new trust cannot be denied merely because full activities haven’t started, provided objects are charitable. |
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| Sec 37(1) |
Samira Realty Projects |
Revenue vs. Project Cost: Ads and business promotion are revenue expenses. However, loan processing and security are project-specific and must be added to Work-in-Progress (WIP). |
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| Sec 56(2)(x) |
PCIT v. Globe Capital |
Share Buy-back: A buy-back is an extinguishment of shares, not an “acquisition of property.” Difference in FMV cannot be taxed as deemed income. |
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| Sec 56(2)(x) |
Smt. Sarita Satyendra Singh |
Valuation Mandate: If an assessee objects to the Stamp Duty Value, the AO must refer the matter to a Valuation Officer before adopting that value. |
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| Sec 115JB |
DIC Fine Chemicals |
MAT Principles: AO cannot increase book profit directly in the computation sheet without prior discussion in the SCN or assessment order. |
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| Sec 153A |
PCIT v. Maneesh Pharma |
Search Additions: For completed assessment years, no addition can be made under Sec 153A unless incriminating material was found during the search. |
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| Sec 270A |
GM Modular (P.) Ltd. |
Penalty Shield: Penalty for under-reporting is unsustainable if the disallowance was already part of the Sec 143(1) intimation and merely repeated in the order. |
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