INCOME TAX CASE LAWS 29.09.20226

Section	Relevant Act	Case Law Title	Brief Summary	Citation
Section 139(1)	Income-tax Act, 1961	CBDT Press Release	Extended due dates for filing tax audit reports (from Sept 30 to Oct 21, 2026) and Income Tax Returns (from Oct 31 to Nov 21, 2026) for AY 2026-27 for audited taxpayers.	Click Here
Section 2(47)	Income-tax Act, 1961	Pr. Commissioner of Income-tax, Central v. Bileshivale Muddanna Govardhana Murthy	Where a Joint Development Agreement and related documents do not amount to a ‘transfer’ under Section 2(47) read with Section 53A of TPA, capital gains tax is not attracted.	Click Here
Section 10(23C)	Income-tax Act, 1961	Nagarji Navyuvak Sanstha v. Income-tax Officer, Exemption	An intimation issued under Section 143(1) after the commencement of scrutiny under Section 143(2) is legally void, rendering a subsequent assessment order under Section 143(3) unsustainable.	Click Here
Section 22	Income-tax Act, 1961	Mukul Rohatgi v. Assistant Commissioner of Income-tax	Revision under Section 263 for notional Annual Letting Value (ALV) is unsustainable where properties are disclosed as exclusively used for professional purposes or no longer owned.	Click Here
Section 37(1)	Income-tax Act, 1961	ACIT v. Vodafone Idea Ltd.	Estimated disallowance of forex fluctuation loss on capital asset imports is unjustified when actual figures are available showing expenditure pertained to spares and consumables.	Click Here
Section 37(1)	Income-tax Act, 1961	ACIT v. Vodafone Idea Ltd.	Payment made for closure of a business division (Paging Division) is incurred for shutting down a business segment, not for carrying on business, and is thus not allowable under Section 37(1).	Click Here
Section 41(1)	Income-tax Act, 1961	Vimal Oil and Foods Ltd. v. Assistant Commissioner of Income-tax	Reopening under Section 148 based on mere presumption of ceased trading liabilities for a company sold as a going concern under liquidation with no-dues certificates is unsustainable.	Click Here
Section 68	Income-tax Act, 1961	Marvell Mall Development Company Ltd. v. Assistant Commissioner of Income-tax	Reopening/notice issued in the name of a non-existent amalgamating company post-amalgamation for income already assessed in the amalgamated company’s hands is void.	Click Here
Section 69C	Income-tax Act, 1961	Korrun India (P.) Ltd. v. Assistant Commissioner of Income Tax	Rejection of fresh factual details by CIT(A) without examination required the matter to be restored to the AO for de novo adjudication with due opportunity of being heard.	Click Here
Section 132B	Income-tax Act, 1961	Dilavarsinh Harisinh Zala v. Principal Commissioner of Income-tax	A third-party claimant (‘person concerned’) can apply under Section 132B for the release of cash seized during a search on another entity once tax liability is established.	Click Here
Section 132B	Income-tax Act, 1961	Dilavarsinh Harisinh Zala v. Principal Commissioner of Income-tax	Mere proof of ownership does not entitle an owner to immediate release of cash seized from a firm where the cash forms part of business and assessment is pending.	Click Here
Section 132B	Income-tax Act, 1961	Dilavarsinh Harisinh Zala v. Principal Commissioner of Income-tax	Automatic release of cash after 120 days without disclosure of nature and source is not mandatory; matter regarding procedural conditions referred to a Larger Bench.	Click Here
Section 160	Income-tax Act, 1961	Deputy Commissioner of Income-tax v. Smt. Indira Kamineni	A beneficiary of a private family trust cannot claim a proportionate share of trust loss without mandatory prior legal determination/computation of the trust’s loss.	Click Here
Section 201	Income-tax Act, 1961	State Bank of India v. ACIT, TDS	An employer-bank cannot be treated as an assessee in default for not deducting TDS on LFC/LTC foreign travel reimbursements when an interim High Court order was operative.	Click Here
Section 263	Income-tax Act, 1961	Mukul Rohatgi v. Assistant Commissioner of Income-tax	A revision show-cause notice and order issued by an officer acting as PCIT without explicit CBDT authorization post-promotion/posting are void for lack of jurisdiction.	Click Here