IMPORTANT INCOME TAX CASE LAWS 22.05.2025
| Section | Case Law Title | Brief Summary | Citation | Relevant Act |
| 5 | Deputy Commissioner of Income-tax v. Rare Enterprises | Interest income from NPA company not taxable on accrual basis if no chance of recovery.No TDS Credit can be Taken | Click Here | Income-tax Act, 1961 |
| 10(38) | Principal Commissioner of Income-tax 9 v. P L Goenka HUF | Reassessment for Bogus LTCG: AO’s Application of Mind Upheld, Reopening Justified |
| Income-tax Act, 1961 |
| 11, 12 | Al-Badar Educational & Charitable Trust v. Deputy Commissioner of Income-tax | Exemption denied to trust charging capitation fee for management seats in dental science; not a charitable object. | Click Here | Income-tax Act, 1961 |
| 12A, 12AB(4), 11(5) | Shri Mukund Bhavan Trust v. Commissioner of Income-tax (Exemption) | Cancellation of registration not justified; trust allowed to donate to other charitable trusts. Not a non-genuine activity. Rental income incidental. Not for a particular community. No specific year breach pointed out for investment modes. Registration under BPT Act not material. | Click Here | Income-tax Act, 1961 |
| 36(1)(iii) | Sujan Luxury Hospitality (P.) Ltd. v. Assistant Commissioner of Income-tax | Disallowance of interest on interest-free loans to associate concerns deleted; commercial expediency. | Click Here | Income-tax Act, 1961 |
| 40(a)(ia) | Sujan Luxury Hospitality (P.) Ltd. v. Assistant Commissioner of Income-tax | Expenditure not disallowed under section 40(a)(ia) as TDS deposited before due date of return filing, though for incorrect assessment year. | Click Here | Income-tax Act, 1961 |
| 43 (Black Money Act) | Akil Abbas Rassai v. Deputy Director of Income -tax/ADIT (Inv) | Penalty not imposed as assessee not beneficial owner/beneficiary of foreign life insurance policy bought by brother-in-law. | Click Here | Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 |
| 43 (Black Money Act) | Akil Abbas Rassai v. Deputy Director of Income -tax/ADIT (Inv) | Penalty for non-disclosure of foreign asset unsustainable if policy lapsed before penalty provisions were introduced. | Click Here | Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 |
| 49, 55(2)(b)(iii) | T.R.Balasubramanium v. Asst Commissioner of Income-tax City Circle VII(2) | Fair market value on date of distribution of immovable property received upon liquidation as cost of acquisition upheld. | Click Here | Income-tax Act, 1961 |
| 68 | Principal Commissioner of Income-tax v. Vishnu Distributors (P.) Ltd. | Conversion of liability into share capital and share premium not treated as unexplained cash credits under section 68 as no cash involved. | Click Here | Income-tax Act, 1961 |
| 80P | Prithvi Apartments Co-operative Housing Society Ltd. v. Assistant Commissioner of Income-tax | Reassessment of Cooperative Bank: Invalid if Based on Change of Opinion and No New Material Facts. deduction under section 80P and TDS on interest payment issues already examined in original assessment. | Click Here | Income-tax Act, 1961 |
| 199 | KJP and Associates v. Deputy Assistant Commissioner of Income-tax | AO directed to process TDS credit based on company’s provided details of cheques and bank deposits, as TRACES data unavailable and facts not controverted. | Click Here | Income-tax Act, 1961 |
| 199 | Deputy Commissioner of Income-tax v. Rare Enterprises | Assessee cannot take credit of TDS if corresponding income has not been shown. | Click Here | Income-tax Act, 1961 |
| 201 | Conner Institute of Health Care and Research Center (P.) Ltd. v. Deputy Commissioner of Income-tax | Consequence of Failure to Deduct or Pay TDS: Notice Under Section 201 Invalid if Lower Deduction Certificate Obtained | Click Here | Income-tax Act, 1961 |
| 276B | Fortune Infovision (P.) Ltd. v. Commissioner of Income-tax | Prosecution sanction under section 276B not granted if TDS and interest voluntarily deposited before SCN issuance. | Click Here | Income-tax Act, 1961 |
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