| Section 2(47) |
Income-tax Act, 1961 |
DCIT v. Bhavna Bharat Daftary |
Assessing Officer cannot treat two separate share transfers executed at different dates and prices as one composite transaction and substitute a subsequent higher price merely because consideration was discharged later. |
Click Here |
| Section 10AA |
Income-tax Act, 1961 |
Apache Labs (P.) Ltd. v. Income-tax officer |
Matters where an assessee failed to furnish supporting evidence before the Assessing Officer and CIT(A) granted partial deductions without a remand report are to be remanded for de novo adjudication. |
Click Here |
| Section 11 |
Income-tax Act, 1961 |
Deputy Commissioner of Income-tax (Exemptions) v. Punjab State Board of Technical Education & Industrial Training |
Exemption claims under sections 11 and 12 first raised in returns filed pursuant to section 148 reassessment notices are not allowable, as reassessment jurisdiction is confined to taxing escaped income. |
Click Here |
| Section 12A |
Income-tax Act, 1961 |
Atmashreya Charitable Trust v. Commissioner of Income-tax (Exemptions) |
Rejections of Form 10AB regularization applications solely due to delay are unjustified where statutory condonation powers exist; matters require reconsideration to evaluate reasonable causes. |
Click Here |
| Section 14A |
Income-tax Act, 1961 |
Baerlocher India Additives (P.) Ltd. v. Deputy Commissioner of Income-tax |
Additional disallowances under Rule 8D cannot be made without recording legally sustainable dissatisfaction under section 14A(2) by examining the assessee’s computation and specific omissions. |
Click Here |
| Section 32 |
Income-tax Act, 1961 |
VTS TF Air Systems (P.) Ltd. v. Income-tax Officer |
Brought-forward unabsorbed depreciation can only be set off against business profits or gains and cannot be set off against income from other sources. |
Click Here |
| Section 36(1)(iv) |
Income-tax Act, 1961 |
Principal Commissioner of Income-tax v. Syama Prasad Mookherjee Port. |
Extraordinary interim contributions made to an approved Superannuation Fund to address actuarial deficits are neither ordinary nor initial contributions, and Rule 87 statutory ceilings do not apply. |
Click Here |
| Section 36(1)(v) |
Income-tax Act, 1961 |
Principal Commissioner of Income-tax v. Syama Prasad Mookherjee Port. |
Contributions made to an approved Gratuity Fund to bridge actuarial shortfalls are not subject to the 8.33 percent ordinary annual contribution ceiling under Rule 103, and the Assessing Officer cannot question compliance for approved funds. |
Click Here |
| Section 37(1) |
Income-tax Act, 1961 |
Principal Commissioner of Income-tax v. G.D. Pansari and Sons (HUF) |
Disallowances of interest expenditure claimed on outstanding credits pertaining to preceding years are not sustainable when the Assessing Officer raises no doubts regarding their genuineness. |
Click Here |
| Section 37(1) |
Income-tax Act, 1961 |
Principal Commissioner of Income-tax v. NTPC Ltd. |
Subsequent reopenings on issues (such as oil and gas exploration and preliminary expenses) that were fully queried and accepted during original scrutiny constitute a mere change of opinion and are unjustified. |
Click Here |
| Section 37(1) |
Income-tax Act, 1961 |
Nuziveedu Swathi Coastal Consortium v. Asst. Commissioner of Income-tax |
Expenditures incurred on temporary, site-specific items like rollers, rails, and ventilation ducting that facilitate current trade operations without enduring benefit are revenue in nature. |
Click Here |
| Section 45 |
Income-tax Act, 1961 |
Hardinge House Co op Hsg Soc Ltd. v. Income-tax Officer |
When a cooperative housing society executes a redevelopment agreement purely as a representative, capital gains liability accrues in the hands of individual member flat-owners rather than the society. |
Click Here |
| Section 68 |
Income-tax Act, 1961 |
Thirumalai Marketing & in Invetments Ltd. v. Assistant Commissioner of Income-tax |
Reassessments initiated beyond four years based on third-party information without recording specific undisclosed material facts or omissions fail to satisfy the first proviso to section 147, rendering jurisdiction invalid. |
Click Here |
| Section 69A |
Income-tax Act, 1961 |
Raghu Nath Arora v. DCIT/ACIT (Central) |
Additions under section 69A based on seized diaries cannot be sustained when a DVO’s report under section 142A accepts declared sale and purchase prices as matching fair market values. |
Click Here |
| Section 69A |
Income-tax Act, 1961 |
Sukhwinder Singh v. Income-tax Officer |
Additions for unproved cash deposits are to be restricted strictly to the unexplained portion when bank cash deposits are partially explained by prior withdrawals and agricultural receipts. |
Click Here |
| Section 92B |
Income-tax Act, 1961 |
VTS TF Air Systems (P.) Ltd. v. Income-tax Officer |
Outstanding trade receivables constitute an international transaction linked to finished goods sales, but once working capital adjustments are granted under TNMM, no separate notional interest adjustment is warranted. |
Click Here |
| Section 92C |
Income-tax Act, 1961 |
VTS TF Air Systems (P.) Ltd. v. Income-tax Officer |
Companies manufacturing final commercial appliances, room air-conditioners, or HVAC systems are not functionally comparable to an assessee manufacturing only intermediate products and must be excluded. |
Click Here |
| Section 139 |
Income-tax Act, 1961 |
Kamal Ramprasad Gupta v. Deputy Commissioner of Income-tax |
Revised returns correcting the character of a loss (e.g., from speculative to non-speculative) without adding fresh losses cannot be ignored merely due to different treatment of disclosed items. |
Click Here |
| Section 145 |
Income-tax Act, 1961 |
Principal Commissioner of Income-tax v. G.D. Pansari and Sons (HUF) |
Additions based on revised opening stock values are unjustified because the legally mandated principle requires closing stock of one year to equal opening stock of the subsequent year. |
Click Here |
| Section 148 |
Income-tax Act, 1961 |
Ramegowdu Mahendra v. Deputy Commissioner of Income-tax |
Income tax authorities cannot treat a GST adjudication order that is under active appeal as an automatic ground for issuing section 148 reassessment notices without independent compliance. |
Click Here |
| Section 244A |
Income-tax Act, 1961 |
CIE Automotive India Ltd. v. Assistant Commissioner of Income-tax |
Assessees are entitled to compensation or interest at 6 per cent per annum on delayed interest refunds caused by internal system issues under section 244A. |
Click Here |
| Section 271(1)(c) |
Income-tax Act, 1961 |
Moly Jagatha v. National Faceless Assessment Centre Income-tax Department |
Penalty and recovery notices issued on the basis of original assessment orders are illegal and must be quashed when the foundational assessment order has been set aside by an appellate authority and no fresh order passed. |
Click Here |
| Section 271B |
Income-tax Act, 1961 |
Raghu Nath Arora v. DCIT/ACIT (Central) |
Penalties under section 271B are justified when individuals fail to get accounts audited despite income exceeding threshold limits and provide no reasonable cause. |
Click Here |
