INCOME TAX CASE LAWS 09.10.2026
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| Section | Case Law Title | Brief Summary | Citation | Relevant Act |
| Section 2(14) | Phool Singh Raghav v. Assessing Officer | Matter required fresh verification of distance from current municipal limits as on sale date to determine capital gains tax liability, where assessee sold land claiming exemption as agricultural land based on old boundaries while AO taxed gains based on expanded limits. | Click Here | Income-tax Act, 1961 |
| Section 11 | Nidadavole Lions Charitable Trust v. Deputy Commissioner of Income-tax, Exemption | Denial of exemption solely because the Board’s resolution authorizing accumulation was passed after year-end was unjustified, as timely Form 10 submission with specified details was fulfilled per Section 11(2) read with Rule 17(2). | Click Here | Income-tax Act, 1961 |
| Section 14A | Arrow Greentech Ltd. v. Assistant Commissioner of Income-tax | Where assessee made a suo motu disallowance against exempt dividend income and AO failed to record dissatisfaction regarding the claim, invoking Rule 8D or making consequential adjustments under section 115JB was impermissible. | Click Here | Income-tax Act, 1961 |
| Section 37(1) | Arrow Greentech Ltd. v. Assistant Commissioner of Income-tax | Indiscriminate allocation of expenses merely based on gross receipts under Section 37 read with Section 115BBF(2) is not permitted; expenses must be directly linked in nature and nexus to royalty income. | Click Here | Income-tax Act, 1961 |
| Section 37(1) | Vivessa Industries (P.) Ltd. v. Income-tax Officer | PCIT could not invoke Section 263 for failure to examine the allowability of loss on sale of assets when the assessment was under limited scrutiny for high liabilities vs. low/agricultural income. | Click Here | Income-tax Act, 1961 |
| Section 43B | Lodestone Software Services (P.) Ltd. v. Union of India | Reassessment order and notice based on audit objection alleging wrongful deduction under section 43B for TDS were quashed, as the assessee never claimed TDS as an expense and no new material emerged. | Click Here | Income-tax Act, 1961 |
| Section 48 | Phool Singh Raghav v. Assessing Officer | Entitlement to indexation for ancestral land held since the early 1980s was recognized in principle, requiring verification of supporting materials by the AO. | Click Here | Income-tax Act, 1961 |
| Section 48 | Phool Singh Raghav v. Assessing Officer | Capital gains are computable on the full sale consideration even if a cheque received towards consideration is dishonoured, provided the sale deed has not been cancelled. | Click Here | Income-tax Act, 1961 |
| Section 50B | Deputy Commissioner of Income-tax v. Savista Global Solutions (P.) Ltd. | AO cannot substitute his own net worth valuation in a slump sale without identifying defects in Form 3CEA valuation methodology or non-compliance with Rule 11UAE. | Click Here | Income-tax Act, 1961 |
| Section 54F | Phool Singh Raghav v. Assessing Officer | Exemption matter remanded to AO to verify supporting documents and fulfillment of Section 54F conditions regarding investment in a residential plot/house. | Click Here | Income-tax Act, 1961 |
| Section 270AA | Shantijanak Estates (P.) Ltd. v. Assistant Commissioner of Income-tax | AO cannot demand negative evidence of non-filing of an appeal when Form 68 declaration is filed on time for immunity from penalty and prosecution. | Click Here | Income-tax Act, 1961 |
| Section 270AA | Shantijanak Estates (P.) Ltd. v. Assistant Commissioner of Income-tax | Order rejecting application for immunity under Section 270AA set aside as AO wrongly stated no reply was filed despite the assessee submitting a reply to the proposed rejection. | Click Here | Income-tax Act, 1961 |
| Section 271AAA | Rosy Blue (India) (P.) Ltd. v. Deputy Commissioner of Income-tax | Mere presumption of missing stock being sold without evidence of actual sale and unrecorded proceeds is insufficient to levy penalty under Section 271AAA. | Click Here | Income-tax Act, 1961 |