IMPORTANT INCOME TAX CASE LAWS 19.11.2025 Relevant Section Case Law Title Brief Summary Citation Relevant Act Section 2(15) & 11 Agrasen Medical Relief & Research Society v. Income-tax Officer (Exemption) Exemption under Section 11 allowed for a charitable society running a hospital, as over 85% of receipts (including corpus) were applied to charitable purposes. The… Read More »
Amendments to Capital Gains Accounts Scheme, 1988 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th November, 2025 (INCOME-TAX) S.O. 5293(E).— In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B, sub-section (2) of section 54D, sub-section (4) of section 54F,… Read More »
Notification of Banks to maintain accounts under CGAS, 1988 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th November, 2025 (INCOME-TAX) S.O. 5294(E).— In pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, and in continuation to the earlier notification numbers G.S.R.725(E), dated… Read More »
CBIC Introduces Enhanced Warehouse Licensing & MOOWR/MOOSWR Registration Module on ICEGATE 2.0 Issue: To simplify the process for manufacturers and businesses to submit applications and obtain licenses/permissions for operating Customs-bonded warehouses under the MOOWR and MOOSWR schemes, the CBIC launched an improved, fully digital module. Facts: The Central Board of Indirect Taxes and Customs… Read More »
DGFT Imposes Immediate Restriction on Import of Jewellery and Parts Till April 30, 2026 Issue: To monitor and control the inflow of specific categories of jewellery, particularly unstudded items, the Directorate General of Foreign Trade (DGFT) amended the import policy from the ‘Free’ to the ‘Restricted’ category for specific HSN codes. Facts: The DGFT… Read More »
CBIC Launches Online Module for Permissions under Section 65 (MOOWR and MOOSWR) Issue: To streamline and simplify the process for manufacturers and businesses to submit applications and obtain permissions for conducting manufacturing and other operations in a Customs-bonded warehouse under the MOOWR and MOOSWR schemes. Facts: The CBIC previously utilized the Invest India portal… Read More »
ITAT Condones 87-Day Delay Due to Confusion Between CPC Rectification and Appeal Remedy Issue Whether a delay of 87 days in filing an appeal before the CIT(A) can be condoned when the delay was caused by the assessee’s bona fide belief—fueled by departmental communication and Bar Association advice—that filing a rectification request with the CPC… Read More »
ITAT Restricts Demonetization Cash Addition to 25%; Accepts Loan Withdrawal as Major Source Issue Whether cash deposits of Rs. 11,24,000/- made during the demonetization period constitute unexplained money under Section 69A, when the assessee claims the source was a housing loan withdrawn shortly before but kept unutilized due to a family medical emergency. Facts The… Read More »
ITAT Deletes Addition of Cash Deposits During Demonetization as Assessee Proved Sufficient Stock Issue Whether cash deposits made during the demonetization period can be treated as unexplained cash credits under Section 68 (read with Section 115BBE) when the assessee demonstrates that the deposits were proceeds from genuine cash sales supported by sufficient available stock. Facts… Read More »
CIT(A) Empowered to Remand Best Judgment Assessments (Sec 144) Under New Finance Act 2024 Amendment Issue Whether the Commissioner of Income Tax (Appeals) [CIT(A)] has the statutory power to set aside an ex-parte Best Judgment Assessment order passed under Section 144 and remand the case back to the Assessing Officer (AO) for fresh adjudication, in… Read More »