IMPORTANT INCOME TAX CASE LAWS 09.02.2026
| Relevant Section | Case Law Title | Core Ruling / Summary | Citation |
| Section 2(14) | CIT Chennai v. GWL Properties Ltd. | Sale of land acquired as industrial land and held as a fixed asset without development results in Capital Gains, not business income, even for a company in trading. | Click Here |
| Section 27 (Benami) | Sugee Developers v. DCIT | Unexplained loans involving demonetized cash deposits are liable to confiscation as benami property if the loan agreement is not established, even if criminal prosecution fails. | Click Here |
| Section 32 | DCIT v. GTPL Hathway Ltd. (SC) | [Landmark SC] Reopening cannot be based on the 2021 amendment denying depreciation on Goodwill for a back-dated year (AY 2017-18). Retrospective application is barred. | Click Here |
| Section 35(2AB) | Flamingo Pharmaceuticals v. DCIT | Filing Form 3CL for R&D deduction is a procedural requirement, not a mandatory one. Deduction cannot be denied solely due to its non-furnishing. | Click Here |
| Section 92B (TP) | Shapoorji Pallonji & Co. v. DCIT | Issuing Financial/Performance Guarantees for AEs involves financial risk and is an “International Transaction.” However, a mere Letter of Comfort (LOC) with no risk is not. | Click Here |
| Section 115BAA | Rama Industries Ltd. v. PCIT | Delay in filing Form 10-IC (for the 22% tax rate) must be condoned if caused by portal glitches or “genuine hardship” during the first year of regulation. | Click Here |
| Section 139(8A) | Mohammed Abdul Malik v. PCCIT | An Updated Return cannot be filed once a notice u/s 143(2) is issued or assessment is pending. The door for voluntary updates closes upon initiation of scrutiny. | Click Here |
| Section 145 | SNN Spiritua Developer v. DCIT | Revenue cannot be recognized under the Percentage Completion Method merely on token advances. A written, enforceable agreement for sale is a prerequisite. | Click Here |
| Section 151 (SC) | ITO v. Mangla Gupta (SC) | [Jurisdictional Defect] Reopening notice issued after 3 years requires approval from the specified authority u/s 151(ii). Approval from a lower authority renders the notice void. | Click Here |
| Section 206C (SC) | DCIT (TDS) v. Dist. Mining Officer | There is no mandate to collect TCS on compounding fees or fines collected from illegal miners under the MMDR Act. | Click Here |
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