18 IMPORTANT INCOME TAX CASE LAWS 15.02.2025

18 IMPORTANT INCOME TAX CASE LAWS

Sr No	Case Law Title	Brief Summary	Citation	Relevant Section and Act
1	Assistant Commissioner of Income-tax v. Pavani Structurals (P.) Ltd.	Addition deleted as assessee had offered income in books of account. AO can not determine the sale consideration for capital gains based on statements alone, without any evidence to support	Click Here	Section 4 Income Tax Act, 1961
2	Assistant Commissioner of Income-tax v. Pavani Structurals (P.) Ltd.	Addition delete as identical issue was decided in favour of JV partner.	Click Here	Section 4 Income Tax Act, 1961
3	Cochin International Airport Ltd. v. Assistant Commissioner Of Income-tax	Principal Commissioner rightly invoked revisionary jurisdiction. Revision of Assessment Justified for Mechanical Acceptance of Bad Debts Provision	Click Here	Section 36(1)(vii) Income Tax Act, 1961
4	Assistant Commissioner of Income-tax v. Pavani Structurals (P.) Ltd.	Expenditure allowed as sufficient evidence was submitted.	Click Here	Section 37(1) Income Tax Act, 1961
5	Assistant Commissioner of Income-tax v. Pavani Structurals (P.) Ltd.	Sale price determined based on registered sale deed.	Click Here	Section 48 Income Tax Act, 1961
6	Hemant Vasisht v. Deputy Commissioner of Income-tax	Matter referred to DVO for determination of fair market value.	Click Here	Section 50C Income Tax Act, 1961
7	Hemant Vasisht v. Deputy Commissioner of Income-tax	Addition deleted as no evidence of cash receipt. AO can not add difference between the sale consideration in the agreement to sell and the registered sale deed as unexplained cash receipt if No Evidence of Cash Receipt	Click Here	Section 68 Income Tax Act, 1961
8	Hemant Vasisht v. Deputy Commissioner of Income-tax	Matter remanded for factual verification of cash receipt.	Click Here	Section 68 Income Tax Act, 1961
9	Deputy Commissioner of Income-tax v. J.A. Infracon (P.) Ltd.	Addition deleted as assessee furnished sufficient evidence. Addition of Share Application Money as Unexplained Cash Credit Deleted	Click Here	Section 68 Income Tax Act, 1961
10	Jitendra Kumar Tahilramani v. Income-tax Officer	Cash Deposit During Demonetization Explained as Sales Proceeds; Addition Deleted	Click Here	Section 68 Income Tax Act, 1961
11	Hemant Vasisht v. Deputy Commissioner of Income-tax	Matter remanded for factual verification of cash source.	Click Here	Section 69A Income Tax Act, 1961
12	Hemant Vasisht v. Deputy Commissioner of Income-tax	Addition deleted as loose paper was insufficient evidence.	Click Here	Section 69C Income Tax Act, 1961
13	Hindustan Zinc Ltd. v. Commission of Income-tax	Profits from captive power plants eligible for deduction under Section 80-IA.	Click Here	Section 80IA Income Tax Act, 1961
14	Hindustan Zinc Ltd. v. Commission of Income-tax	Set-off of past losses and unabsorbed depreciation not required before claiming deduction under Section 80-IA.	Click Here	Section 80IA Income Tax Act, 1961
15	Rukmani Engineering Works v. Deputy Commissioner of Income-tax	Penalty imposed for unsubstantiated expenses and understated net profit.	Click Here	Section 271(1)(c) Income Tax Act, 1961
16	Rukmani Engineering Works v. Deputy Commissioner of Income-tax	Penalty imposed for failure to explain source of credits in partners’ capital accounts.	Click Here	Section 271(1)(c) Income Tax Act, 1961
17	Rukmani Engineering Works v. Deputy Commissioner of Income-tax	Penalty imposed for understatement of net profit.	Click Here	Section 271(1)(c) Income Tax Act, 1961
18	K. Krishnamurthy v. Deputy Commissioner of Income-tax	Penalty under Section 271AAA(1) not attracted on undisclosed income admitted and taxed.	Click Here	Section 271AAA Income Tax Act, 1961