Important Income Tax Case Laws 28.04.2026

Relevant Act	Section / Rule	Case Law Title	Citation	Brief Summary
Black Money Act, 2015	Sec 3	Atanu Banerjee v. DDIT (Inv)	Click Here	Foreign Asset Disclosure: Matter remanded to allow the assessee a final opportunity to substantiate the source of credits in an undisclosed foreign bank account from property sales.
Income Tax	Sec 11 / 10B	Manav Vikas Bahuuddeshiya v. CIT(E)	Click Here	Bona Fide Delay: Delay in filing Form 10B due to CA’s oversight regarding new online filing must be condoned to prevent unjust denial of exemption.
Income Tax	Sec 69	Ajay Food Products v. ITO	Click Here	Inflated Stock: Addition justified where an assessee overstates stock to a bank to secure higher credit; “commercial immorality” is not supported by law.
Income Tax	Sec 80G	Blaze Trust v. CIT(E)	Click Here	Micro-credit: Approval cannot be denied for financial facilitation (SHGs/Micro-credit) if it serves the socio-economic upliftment of the poor without profit motive.
Income Tax	Sec 80P	Karnataka State Co-op Bank v. ITO	Click Here	Co-operative Deductions: Deduction allowed for interest from co-op banks and vehicle hire, but denied for staff loan interest and insurance commissions.
Income Tax	Sec 145B	Bando India (P.) Ltd. v. ITO	Click Here	Duty Drawback: Under Sec 145B(3), duty drawback is taxable on a receipt basis; addition on an accrual basis is unjustified.
Income Tax	Sec 194-IA	Artha Real Estate Corp. Ltd. v. DCIT	Click Here	Immovable Property: TDS must be deducted on the entire consideration of the property; failure renders the assessee a “defaulting assessee” u/s 201.

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