Category Archives: Income Tax

Requirement of Degree in Agricultural Science for Valuers of Agricultural Land Under Rule 8A(3) Is Constitutionally Valid

By | August 15, 2026
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Requirement of Degree in Agricultural Science for Valuers of Agricultural Land Under Rule 8A(3) Is Constitutionally Valid Requirement of Degree in Agricultural Science for Valuers of Agricultural Land Under Rule 8A(3) Is Constitutionally Valid Issue Whether Rule 8A(3) of the Wealth-tax Rules, 1957, which mandates a degree in Agricultural Science for registration as a valuer… Read More »

Delay in Filing Appeal Condoned and Entire BSNL VRS 2019 Ex Gratia Exempt Under Section 10(10B)

By | August 15, 2026
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Delay in Filing Appeal Condoned and Entire BSNL VRS 2019 Ex Gratia Exempt Under Section 10(10B) Issue Whether the CIT(A) erred in refusing to condone a 1540-day delay in filing an appeal, and whether ex gratia compensation received by a retired BSNL employee under the BSNL Voluntary Retirement Scheme (VRS), 2019 qualifies for full income… Read More »

Expatriate Salary Paid by Foreign Head Office Exclusively for Indian PE Is Fully Allowable

By | August 15, 2026
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Expatriate Salary Paid by Foreign Head Office Exclusively for Indian PE Is Fully Allowable Issue Whether expatriate salary expenditure initially paid by a foreign bank’s Head Office for employees working exclusively for its Indian Permanent Establishment (PE) constitutes “Head Office expenditure” under Section 44C, or if it is fully allowable as a business deduction under… Read More »

INCOME TAX CASE LAW 13.08.2026

By | August 14, 2026
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INCOME TAX CASE LAW 13.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 2(14) Akhilesh Bansal v. ITO, Ward 1 (1) Click Here Rural agricultural land located beyond 8 km from municipal limits is not a capital asset under Section 2(14)(iii); hence, enhanced compulsory acquisition compensation is not taxable under Section… Read More »

Supreme Court Dismisses SLP Against Deletion of Penalty Arising From Ambiguous Notice

By | August 14, 2026
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Supreme Court Dismisses SLP Against Deletion of Penalty Arising From Ambiguous Notice Supreme Court Dismisses SLP Against Deletion of Penalty Arising From Ambiguous Notice Issue Whether a penalty levied under Section 271(1)(c) read with Section 274 is legally sustainable when the statutory show-cause notice fails to specify the specific charge by not striking off the… Read More »

DTVSV Refunds Must Be Issued Within 90 Days and Operational Delays Do Not Justify Inaction

By | August 14, 2026
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DTVSV Refunds Must Be Issued Within 90 Days and Operational Delays Do Not Justify Inaction DTVSV Refunds Must Be Issued Within 90 Days and Operational Delays Do Not Justify Inaction Issue Whether the Revenue can delay processing and crediting a refund due under Form No. 4 of the Direct Tax Vivad Se Vishwas Scheme, 2024,… Read More »

SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201

By | August 14, 2026
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SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 Issue Whether SBI branches can be treated as “assessees in default” under Section 201(1) and charged interest under Section 201(1A) for failing to… Read More »

Reassessment Order Involving Section 50C Is Time-Barred as Extension Under Section 142A Is Impermissible

By | August 14, 2026
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Reassessment Order Involving Section 50C Is Time-Barred as Extension Under Section 142A Is Impermissible Reassessment Order Involving Section 50C Is Time-Barred as Extension Under Section 142A Is Impermissible Issue Whether a reference to the Valuation Officer in a Section 50C matter can be made under the general provision of Section 142A to claim an extension… Read More »

Deduction Under Section 80P Allowed on Return Filed Pursuant to Section 148 Notice Sets Aside PCIT Order

By | August 14, 2026
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Deduction Under Section 80P Allowed on Return Filed Pursuant to Section 148 Notice Sets Aside PCIT Order Deduction Under Section 80P Allowed on Return Filed Pursuant to Section 148 Notice Sets Aside PCIT Order Issue Whether a deduction under Section 80P(2)(d) can be disallowed under Section 80AC by invoking Section 263 revision when the return… Read More »

Peak Credit Method Is Applicable to Book Entries Outside Regular Accounts for Estimating Undisclosed Income

By | August 14, 2026
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Peak Credit Method Is Applicable to Book Entries Outside Regular Accounts for Estimating Undisclosed Income Issue Whether the peak credit method can be applied to estimate undisclosed income from unrecorded book entries, rather than summing all credit entries without accounting for debits. Facts The case pertains to Assessment Year 2022–23 under the Income-tax Act, 1961.… Read More »