| Section 2(9)(A) |
Smt. Sheetal Chandna vs. Initiating Officer, ACIT Benami Prohibition Unit |
Handing over cash to a third party post-demonetisation for deposit into their account, followed by a retransfer back to the appellant, satisfies the criteria of a benami transaction. The deposited cash is classified as benami property. |
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Prohibition of Benami Property Transactions Act, 1988 |
| Section 2(9)(A) |
Darshan Lal Miglani vs. Initiating Officer, ACIT, Kanpur |
Routing demonetized cash through an intermediary’s bank account to convert notes and subsequently returning the funds via banking channels qualifies as a benami transaction involving movable property. Subsequent retransfer does not shield it from the Act. |
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Prohibition of Benami Property Transactions Act, 1988 |
| Section 147 / 148 |
Sanand Properties (P.) Ltd. vs. Joint Commissioner of Income-tax |
Reopening of assessment was held justified where a subsequent survey yielded tangible material showing that an AOP receipt was linked to gross sales. The assessee had merely disclosed the existence of the AOP without revealing its core, non-contingent profit terms. |
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Income-tax Act, 1961 |
| Section 28(i) / 143(3) |
Mahindra and Mahindra Financial Services Ltd. vs. Deputy Commissioner Income-tax |
Where an NBFC creates provisions for estimated losses/expenses on securitisation based on historical data and faces disallowances in the year of creation, the subsequent reversal of these provisions upon loan maturity cannot be taxed again and must be reduced from total income. |
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Income-tax Act, 1961 |
| Section 253 / 32 |
Plus BKSP Toll Ltd. vs. Assistant Commissioner of Income-tax |
A substantial delay of 685 days in filing an appeal before the ITAT was condoned since the assessee established a “sufficient cause”—namely, cessation of business operations, overseas management, and lack of timely professional guidance. (Note: Main digest highlights the condonation of delay over the substantive CBDT Circular 9/2014 issue). |
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Income-tax Act, 1961 |
| Section 272A(1)(d) |
Lila Lila Chayal vs. Deputy Commissioner of Income-tax |
Penalty for initial non-compliance with a Section 142(1) notice is not leviable if the assessee subsequently furnishes detailed responses that are fully accepted by the AO during a Section 143(3) assessment with zero adverse additions. The initial lapse is deemed condoned. |
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Income-tax Act, 1961 |
| Section 5 / 145 |
Commissioner of Income-tax – LTU vs. Mahindra Holidays and Resorts (India) Ltd. |
Upfront time-share membership fees collected alongside a continuing obligation to provide resort facilities over a prolonged tenure can be deferred over the contract period. The entire amount cannot be taxed as income upfront in the year of receipt. |
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Income-tax Act, 1961 |
| Section 80G(5) |
Mohammediya Educational Trust vs. Income-tax Officer (Exemptions) |
There is no statutory bar under the Act preventing a trust from filing a fresh Form 10AB application for Section 80G approval, even if a previous rejection order was not appealed and attained finality. The matter was remanded for a merit-based review. |
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Income-tax Act, 1961 |
| Section 194LA |
Executive Engineer Knnl vs. State |
Compensation awarded for the compulsory acquisition of land is exempt from TDS. This principle extends to settlement payouts finalized through a mediation agreement under Section 89 of the Civil Procedure Code (CPC). |
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Income-tax Act, 1961 |
| Section 2(9)(A) |
Harvinder Pal Miglani vs. Initiating Officer, ACIT, Benami Prohibition Unit |
Reaffirming the demonetisation principles: routing defunct currency through a third-party account to clean the funds via banking channels creates a classic Benami setup. The third party acts as a benamidar and the funds represent benami property. |
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Prohibition of Benami Property Transactions Act, 1988 |
| Section 115BAA |
Kanoria Energy and Infrastructure Ltd. vs. Chief Commissioner of Income-tax |
Delay in filing Form 10-IC due to a bona fide oversight was condoned since the return was filed within the deadline, substantive compliance was achieved before the cut-off date, and the intent to opt for the lower corporate tax rate was clear. |
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Income-tax Act, 1961 |
| Section 92C |
Deputy Commissioner of Income-tax vs. BYD India (P.) Ltd. |
Transfer Pricing adjustments are unsustainable if the TPO ignores extraordinary economic circumstances. Distress sales made to an Associated Enterprise (AE) due to the complete operational shutdown of a primary domestic client (Nokia India) require specialized benchmarking adjustments. |
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Income-tax Act, 1961 |
