Once DTVS Scheme declaration is accepted and Form 2 issued, CIT(A) must defer proceedings and dismiss appeal as withdrawn upon Form 4 issuance Issue Whether the CIT(A)/NFAC can adjudicate an appeal on merits and remand the matter to the Assessing Officer when the assessee has already settled the dispute under the Direct Tax Vivad se… Read More »
In the absence of new material facts, the principle of consistency applies and school’s surplus cannot be assessed separately when integrated into the parent board’s accounts. Issue Whether the surplus/income of a school can be separately assessed in its hands under Section 144 of the Income-tax Act, 1961, when it claims to be part of… Read More »
INOCME TAX CASE LAWS 27.07.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 4 Burgess English Senior Secondary School v. ITO Applying the principle of consistency, where the AO accepted in earlier years that the school was part of CDBE and its income formed part of CDBE’s accounts, the surplus… Read More »
Reassessment Notice Issued Beyond Limitation Period Under TOLA for AY 2015-16 Is Invalid Reassessment Notice Issued Beyond Limitation Period Under TOLA for AY 2015-16 Is Invalid Issue Whether the Section 148A(d) order and Section 148 notice issued on 27.07.2022 for Assessment Year 2015-16 were barred by limitation under the new reassessment regime as interpreted in… Read More »
Reassessment Notice Issued by JAO Instead of NFAC Remitted Back to High Court for Fresh Consideration Reassessment Notice Issued by JAO Instead of NFAC Remitted Back to High Court for Fresh Consideration Issue Whether reassessment notices issued under Section 148 by the Jurisdictional Assessing Officer (JAO) instead of the National Faceless Assessment Centre (NFAC) under… Read More »
Assessment Completed by ACIT Without Fresh Notice Under Section 143(2) Is Without Jurisdiction Issue Whether an assessment completed by an Assessing Officer (ACIT) under Section 143(3) without issuing a mandatory notice under Section 143(2) is void for lack of jurisdiction, even if a previous notice under Section 143(2) was issued by another officer (ITO). Facts… Read More »
Bona Fide Delay in Filing Form 10-IC Under Section 115BAA Deserves Condonation Under Section 119(2)(b) Issue Whether the delay in filing Form 10-IC for exercising the option of a concessional corporate tax rate under Section 115BAA should be condoned under Section 119(2)(b) when the assessee demonstrated a bona fide intention from the inception. Facts Context… Read More »
Co-Operative Housing Society Is Entitled to Section 80P(2)(d) Deduction on Interest Earned From Co-Operative Banks Issue Whether interest income earned by a co-operative housing society from fixed deposits maintained with co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income-tax Act, 1961. Facts Assessee Profile: The assessee is a co-operative housing society registered… Read More »
Broader Auto-Component Manufacturer Is Valid TNMM Comparable and Loss Set-Off Must Be Granted Broader Auto-Component Manufacturer Is Valid TNMM Comparable and Loss Set-Off Must Be Granted Issue Whether a company performing broader auto-component manufacturing functions can be accepted as a valid comparable under the Transactional Net Margin Method (TNMM), particularly when accepted by the Transfer… Read More »
Section 153C Reassessment Proceedings Quashed as Unsigned MoU and Post-Search Public Documents Lacked Direct Nexus Issue Whether reassessment proceedings initiated under Section 153C were valid when based on an unsigned MoU without the assessee’s name and post-search documents lacking direct nexus to the search. Facts Search Operations: A search under Section 132 was conducted on… Read More »