INCOME TAX CASE LAWS 27.10.2026

Here is the complete analysis and summary of the provided case laws formatted cleanly in a table.

Case Law Summary & Analysis

Relevant Act	Section	Case Law Title	Citation	Brief Summary
Building and Other Construction Workers’ Welfare Cess Act, 1996	Section 11	Ridhiraj Builders and Promoters v. State of Rajasthan	Click Here	Rule 14(2)(b) of the 1998 Rules is ultra vires Section 11 r/w Section 14 of the Act and void; Appellate Authority cannot insist on a certificate under this provision to entertain an appeal.
Income-tax Act, 1961	Section 12AB	Kshitij Foundation v. Commissioner of Income-tax (Exemptions)	Click here	Imposing a contingency-based condition making Section 12AB registration/tax benefits subject to the outcome of proposed Supreme Court proceedings is impermissible and directed to be deleted.
Insolvency and Bankruptcy Code, 2016	Section 31	Aqua Terra Coke and Energy Ltd. v. Income-tax Officer	Click here	NCLT/NCLAT can examine if a resolution plan adequately provides for tax dues under law, but lacks jurisdiction to adjudicate the underlying merits or validity of statutory tax determinations.
Income-tax Act, 1961	Section 32	Wheels India Ltd. v. Deputy Commissioner of Income-tax	Click here	Where eligible plant and machinery was put to use for <180 days in a prior year, the assessee is entitled to claim the remaining 50% additional depreciation under Section 32(1)(iia) in the subsequent year.
Income-tax Act, 1961	Section 37(1)	Principal Commissioner of Income-tax v. Geojit Financial Services Ltd.	Click Here	Discount on shares allotted to employees under ESOPs is allowable as a revenue expenditure under Section 37(1).
Income-tax Act, 1961	Section 48	Hiteshkumar Mohanlal Desai v. Assessment Unit, ITD	Click here	Adding entire consideration under a Joint Development Agreement in one year is unsustainable when the assessee actually received consideration in parts and disclosed/offered capital gains in subsequent returns accepted by the Revenue.
Income-tax Act, 1961	Section 48	Sel Resources Ltd. v. ITO	Click here	Where AO allowed only part of stamp duty paid towards cost of acquisition without adjudicating the balance, the matter was remanded for limited verification of full stamp duty claim.
Income-tax Act, 1961	Section 50C	Sel Resources Ltd. v. ITO	Click here	If DVO valuation subsequently differs from stamp duty value, AO can rectify under Section 154; however, where DVO value matches stamp duty value, no rectification is required.
Income-tax Act, 1961	Section 50C	May Flower Enterprises (P.) Ltd. v. ACIT	Click here	Section 50C is inapplicable to consideration received for relinquishing a contractual right to seek specific performance under an unregistered agreement, as no registered interest in land/building was transferred.
Income-tax Act, 1961	Section 50D	Sitha Mahalakshmi Katamaneni v. Income-tax Officer	Click here	When computing capital gains under Section 50D by adopting FMV on the date of transfer, AO cannot replace FMV with the developer’s construction costs incurred in subsequent financial years.
Income-tax Act, 1961	Section 68	Ramilaben Balubhai Ahir v. Income-tax Officer	Click here	Where alleged escaped income (from assessee’s share in property sale) is under ₹50 lakhs (₹37.55 lakhs), Section 148 notice issued after the 3-year limitation period is barred by Section 149(1)(b) and liable to be set aside.
Income-tax Act, 1961	Section 68	Samriddhi Petro Products (P.) Ltd. v. ACIT	Click here	Remanded for detailed lender-wise factual verification of 52 unsecured loans. Assessee is not obliged to prove “source of source” for unsecured loans as the first proviso to Section 68 was inapplicable for the relevant year.
Income-tax Act, 1961	Section 68	Samriddhi Petro Products (P.) Ltd. v. ACIT	Click here	Where PCIT in Section 263 proceedings did not find share consideration to be fictitious or premium unexplained, any consequential addition made by the AO under Section 68 is unsustainable.
Income-tax Act, 1961	Section 68	Income-tax Officer v. Varda Energy and Engineering (P.) Ltd.	Click here	Deletion of Section 68 addition was proper where assessee provided detailed landholding, production, and sale records for agricultural income from maize seeds, with no rebuttal evidence from Revenue.
Income-tax Act, 1961	Section 68	Income-tax Officer v. Varda Energy and Engineering (P.) Ltd.	Click here	Section 68 cannot be invoked for alleged bogus purchases of iron & steel used for construction (shown as WIP) where there is no corresponding credit entry in the books of account.
Income-tax Act, 1961	Section 68	Income-tax Officer v. Varda Energy and Engineering (P.) Ltd.	Click here	Addition under Section 68 for share application money is unjustified where assessee proved identity, creditworthiness, and transaction genuineness, and AO failed to link assessee to accommodation entries.
Income-tax Act, 1961	Section 69	Suresh Dattu Kamat v. Union of India	Click here	Where initial Section 148A notice for interest income was dropped, reopening reassessment on portal info regarding undisclosed property investment—without foundational facts in original notice—lacks jurisdiction and is quashed.
Income-tax Act, 1961	Section 80G	Kshitij Foundation v. Commissioner of Income-tax (Exemptions)	Click here	Subjecting Section 80G(5) approval to the outcome of future Supreme Court proceedings is unjustified, and such a restrictive condition must be deleted.
Income-tax Act, 1961	Section 80P	Commissioner of Income-tax v. Pandyan Grama Bank	Click here	Regional Rural Banks (RRBs) are deemed co-operative societies under Section 22 of the RRB Act; hence, deduction under Section 80P remains available despite the bar under Section 80P(4).
Income-tax Act, 1961	Section 148B	L N Enterprises v. DCIT	Click Here	Search-based assessment completed using seized digital data without issuing a notice under Section 148 and lacking mandatory approval under Section 148B is unsustainable and quashed.
Income-tax Act, 1961	Section 153C	Meghalaya Infratech Ltd. v. Deputy Commissioner of Income-tax	Click Here	Initiating Section 153C assessment proceedings for prior years after the NCLT has already approved a Resolution Plan under CIRP is without jurisdiction; orders and demands are set aside.
Insolvency and Bankruptcy Code, 2016	Section 238	Aqua Terra Coke and Energy Ltd. v. Income-tax Officer	Click here	Tax dues arising during the CIRP period fall outside regular CIRP claim submissions; the “Clean Slate Doctrine” cannot be extended to discharge post-initiation statutory dues under GST and Income-tax laws.

Please let me know if you need deeper legal analysis or additional categorizations for any of these entries!