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- IMPORTANT INCOME TAX CASE LAWS 22.05.2025
- Capitation Fee by Educational Trust: Not a Charitable Object, Exemption Denied
- Prosecution Sanction for Delayed TDS Deposit: Not Justified if Voluntarily Deposited with Interest Before Show Cause Notice
- Consequence of Failure to Deduct or Pay TDS: Notice Under Section 201 Invalid if Lower Deduction Certificate Obtained
- AO directed to process TDS credit based on company’s provided details of cheques and bank deposits, as TRACES data unavailable
- Reassessment of Cooperative Bank: Invalid if Based on Change of Opinion and No New Material Facts
- Conversion of liability into share capital and share premium not treated as unexplained cash credits
- Capital Gains on Property Received in Company Liquidation: FMV at Distribution Date as Cost of Acquisition Upheld
- Penalty not imposed as assessee not beneficial owner/beneficiary of foreign life insurance policy bought by brother-in-law.
- Cancellation of Income Tax Exemption for Donating to Other Trusts Instead of Direct Activities: Not Justified
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