22 IMPORTANT INCOME TAX CASE LAWS 12.02.2025

Sr No	Case Law Title	Brief Summary	Citation	Relevant Section and Act
1	Notification No. 15/2025 Dated 10-02-2025	Bhaikaka University, Anand, Gujarat notified as a scientific research institution.	Click Here	SECTION 35(1)(ii) Income Tax Act, 1961
2	Initiating officer v. Ponnaganti Karunakara	Properties held by alleged benamidars not considered benami property.	Click Here	Section 2(9) Prohibition of Benami Property Transactions Act, 1988
3	North Star Homes v. Initiating Officer, BPU, Hyderabad	Properties held by alleged benamidars not considered benami property.	Click Here	Section 2(9) Prohibition of Benami Property Transactions Act, 1988
4	Karnataka Sangha v. Commissioner of Income-tax (Exemptions)	Condonation of Minor Delay in Form 10B Filing Granted to Charitable Trust	Click Here	Section 12A Income Tax Act, 1961
5	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Suo moto disallowance made by assessee upheld. Addition cannot be made solely based on ITS/AIR information without further evidence	Click Here	Section 14A Income Tax Act, 1961
6	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Assessee eligible for deduction under Section 36(1)(viia)(d).	Click Here	Section 36(1)(viia) Income Tax Act, 1961
7	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Assessee eligible for deduction under Section 36(1)(viii).	Click Here	Section 36(1)(viii) Income Tax Act, 1961
8	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Withdrawal from ‘Special Reserve No. I Account’ not taxable.	Click Here	Section 36(1)(viii) Income Tax Act, 1961
9	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Profits derived from housing loans for less than five years eligible for deduction.	Click Here	Section 36(1)(viii) Income Tax Act, 1961
10	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Interest income from non-residential housing finance not eligible for deduction.	Click Here	Section 36(1)(viii) Income Tax Act, 1961
11	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Interest income from treasury operations eligible for deduction.	Click Here	Section 36(1)(viii) Income Tax Act, 1961
12	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Interest income from loan to NTPC eligible for deduction.	Click Here	Section 36(1)(viii) Income Tax Act, 1961
13	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Discount on grant of stock options allowed as revenue expenditure.	Click Here	Section 37(1) Income Tax Act, 1961
14	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	ESOS expenditure allowed as revenue expenditure.	Click Here	Section 37(1) Income Tax Act, 1961
15	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Expenditure incurred on issue of FCCBs allowed as revenue expenditure.	Click Here	Section 37(1) Income Tax Act, 1961
16	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Provisions made on reasonable estimates allowed as revenue expenditure.	Click Here	Section 37(1) Income Tax Act, 1961
17	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Club entrance fees and subscription allowed as revenue expenditure.	Click Here	Section 37(1) Income Tax Act, 1961
18	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Long-term capital gain computed as per third proviso to Section 50C(1).	Click Here	Section 50C Income Tax Act, 1961
19	Vijay Krishna Bhandari v. Income-tax Officer	Commissioner (Appeals) directed to decide appeal on merits. Dismissal of Appeal for Non-Prosecution Without Considering Merits is Invalid	Click Here	Section 50C Income Tax Act, 1961
20	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Deduction under Section 54EC allowed for short-term capital gains.	Click Here	Section 54EC Income Tax Act, 1961
21	Income-tax Officer v. Hemanshu Ramniklal Shah	SLP dismissed, Reopening of Assessment Barred Due to Change of Opinion and Delay in Filing SLP.	Click Here	Section 68 Income Tax Act, 1961
22	HDFC Bank Ltd. v. Addl. CIT/ACIT/DCIT, Mumbai	Assessee had choice to set off short-term capital loss.	Click Here	Section 68 Income Tax Act, 1961

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