IMPORTANT INCOME TAX CASE LAWS 05.03.2026

Section	Case Law	Core Ruling & Strategic Summary	Citation
S. 11	Chhattisgarh Housing Board	[No Profit Motive] Statutory Housing Boards qualify for S. 11 exemption if units are sold at cost or with a nominal mark-up without a profit motive.	Click Here
S. 11 / 119	Dawat E Islami Hind	[Audit Delay] A 50-day delay in filing Form 10B due to a shortage of accountants is a “genuine hardship.” Rejection based on past delays is invalid; delay must be condoned.	Click Here
S. 11 / 13	Hriday	[Sub-Grants] Remitting project-specific grants to a foreign university (University of Texas) under a research agreement is “tied-up expenditure,” not an application outside India requiring permission.	Click Here
S. 13(1)(c)	Hriday	[Trustee Benefit] Exemption cannot be denied if no direct/indirect benefit accrues to trustees or specified persons during the foreign remittance of project funds.	Click Here

ALV Basis	Mukul Rohatgi	[Consistency] If an Annual Letting Value (ALV) has been accepted in earlier years, the Pr. CIT cannot revise the order u/s 263 without providing a specific basis for why it is incorrect.	Click Here
Commercial Use	Mukul Rohatgi	[Office Use] No ALV can be attributed to a foreign property (London) if it is used for commercial purposes (client conferences) and the income is declared as professional fees.	Click Here
Under-Const.	Mukul Rohatgi	[Status of Property] No ALV can be charged for a property that was under reconstruction/construction during the relevant assessment year.	Click Here
S. 112A	Mukul Rohatgi	[Equity Funds] Revision u/s 263 is invalid if the assessee correctly declared LTCG u/s 112A based on fund statements confirming their “equity-oriented” nature.	Click Here