7 IMPORTANT INCOME TAX CASE LAWS 29.01.2025
| Section | Case Law Title | Brief Summary | Citation | Relevant
Section and Act |
|---|---|---|---|---|
| 1 | Accelerated Freeze Drying Co. Ltd. v. Assistant Commissioner of Income-tax Circle I | Assessee entitled to additional depreciation for plant and machinery used in the process of accelerated freeze drying. | Click Here | Section 32
Income Tax Act, 1961 |
| 2 | Accelerated Freeze Drying Co. Ltd. v. Assistant Commissioner of Income-tax Circle I | Assessee entitled to deduction of interest on borrowed capital when the borrowed funds were lent to a group company. | Click Here | Section 36(1)(iii)
Income Tax Act, 1961 |
| 3 | Amartbhai Mandanbhai Desai v. Principal Commissioner of Income-tax | Deduction under Section 54B denied as the land was not used for agricultural purposes. | Click Here | Section 54B
Income Tax Act, 1961 |
| 4 | Deputy Commissioner of Income-tax v. Mahavir Coal Resources (P.) Ltd. | Addition under Section 68 deleted as the share capital contribution was genuine. | Click Here | Section 68
Income Tax Act, 1961 |
| 5 | Jyoti Prakash Deshmukh v. ITO | Commissioner (Appeals) exceeded their power by remanding the matter back to the AO | Click Here | Section 144
Income Tax Act, 1961 |
| 6 | Deputy Commissioner of Income-tax v. Gokul Agro Resources Ltd. | SLP dismissed, reopening notice quashed as it was based on the same material used for earlier rejected notices. |
|
Section 148A
Income Tax Act, 1961 |
| 7 | Gopinatha Pillai v. Tax Recovery Officer | Income-tax Department could not proceed against a bona fide purchaser of property without notice of the prior tax proceedings. | Click Here | Section 281
Income Tax Act, 1961 |
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