IMPORTANT INCOME TAX CASE LAWS 25.02.2026

Relevant Section	Case Law Title	Core Ruling & Strategic Summary	Citation
S. 148 / TOLA	Vinodkumar R. Koringa v. ITO	[Limitation Barrier] Fresh notice issued u/s 148 after the legally permitted time (post-TOLA extension) is invalid. AO cannot issue a fresh notice if the original limitation had already expired.	Click Here
S. 32	Kovalam Resort (P.) Ltd. v. DCIT	[Slump Sale Goodwill] In a slump sale, if the composite price exceeds the FMV of tangible assets, the excess is Goodwill/Commercial Rights eligible for depreciation u/s 32(1)(ii).	Click Here
S. 54B	DCIT v. Bhupinder Singh Bhalla	[Agri-Exemption] Exemption is allowed if revenue records (Girdawri) and land revenue assessments prove agricultural activity and produce on both sold and purchased lands.	Click Here
S. 68	Singla Realters Ltd. v. ITO	[Source of Source] Additions u/s 68 are unjustified if the assessee proves the identity and creditworthiness of the immediate lender. Proving the “source of the source” is not mandatory.	Click Here
S. 69	Mrs. Dhoomi Devi v. ITO	[Unsigned Drafts] An unsigned draft sale deed found during a broker’s search, without a statement linking the cash to the assessee, cannot sustain an “on-money” addition.	Click Here