Surrender of tenancy rights is distinct from purchase, and mere agreement for unconstructed property does not attract Section 56(2)(vii)(b).

By | September 21, 2026
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Surrender of tenancy rights is distinct from purchase, and mere agreement for unconstructed property does not attract Section 56(2)(vii)(b). Surrender of tenancy rights is distinct from purchase, and mere agreement for unconstructed property does not attract Section 56(2)(vii)(b). Issue Whether the taxability under Section 56(2)(vii)(b) applies to a redevelopment arrangement involving the surrender of tenancy… Read More »

Deduction claimed under Sections 80-IA/80-IB is not to be subtracted from business profits while computing Section 80HHC deduction.

By | September 21, 2026
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Deduction claimed under Sections 80-IA/80-IB is not to be subtracted from business profits while computing Section 80HHC deduction. Issue Whether deductions allowed under Sections 80-IA/80-IB must be subtracted from business profits before computing deductions under Section 80HHC, and whether a late-crystallized capital liability can be added to the actual cost under Section 43(1) without identifying… Read More »

No notional interest applies to debt-free AE receivables and reimbursed ESOP costs are deductible.

By | September 21, 2026
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No notional interest applies to debt-free AE receivables and reimbursed ESOP costs are deductible. Issue Whether transfer pricing adjustments by imputing notional interest on outstanding receivables from Associated Enterprises (AEs) are sustainable for a debt-free company, and whether ESOP/ESPP costs reimbursed to a foreign parent company are allowable as revenue expenditure under Section 37(1). Facts… Read More »

Delayed PF/ESIC contributions cannot be disallowed via Section 154 when the issue was debatable.

By | September 21, 2026
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Delayed PF/ESIC contributions cannot be disallowed via Section 154 when the issue was debatable. Issue Whether an Assessing Officer can invoke Section 154 to rectify an assessment and disallow delayed employees’ PF and ESIC contributions when the issue was legally debatable on the date of the rectification order, and whether such a rectification can be… Read More »

Rental income belongs to the partnership firm and capital gains are taxable in A.Y. 2005-06.

By | September 21, 2026
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Rental income belongs to the partnership firm and capital gains are taxable in A.Y. 2005-06. Issue Whether rental income from a constructed property in a Joint Development Agreement (JDA) can be taxed as undisclosed income in the hands of individual landowners, whether capital gains under a registered JDA executed in 2005 are chargeable in A.Y.… Read More »

CBDT amends Income-tax Rules, 2026 and revises Forms 169 & 1…

By | September 21, 2026
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CBDT amends Income-tax Rules, 2026 and revises Forms 169 & 1… CG-DL-E-17092026-276301 EXTRAORDINARY PART II—Section 3—Sub-section (i) PUBLISHED BY AUTHORITY No.752] NEW DELHI, THURSDAY, SEPTEMBER17, 2026/BHADRA26, 1948 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th September, 2026 INCOME-TAX G.S.R. 822(E).— In exercise of the powers conferred by… Read More »

GST CASE LAW 18.09.2026

By | September 19, 2026
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GST CASE LAW 18.09.2026   Relevant Act Section Case Law Title Citation Brief Summary Integrated Goods and Services Tax Act, 2017 Section 4 Jai Ganesh Enterprise v. Union of India Click Here State GST officers designated under State GST law are competent to act as proper officers under the IGST Act without needing a separate… Read More »

Directory Three-Month Timeline for Deciding Rectification Does Not Render Authority Functus Officio Post Expiry

By | September 19, 2026
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Directory Three-Month Timeline for Deciding Rectification Does Not Render Authority Functus Officio Post Expiry Directory Three-Month Timeline for Deciding Rectification Does Not Render Authority Functus Officio Post Expiry Issue Whether the three-month timeframe prescribed under Section 161 for deciding a rectification application is mandatory—thereby rendering the authority functus officio upon its expiry—or directory, requiring a… Read More »

Dismissal of Appeal Set Aside and Remanded for Hearing on Merits as Portal Defect Caused Delayed Filing

By | September 19, 2026
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Dismissal of Appeal Set Aside and Remanded for Hearing on Merits as Portal Defect Caused Delayed Filing Dismissal of Appeal Set Aside and Remanded for Hearing on Merits as Portal Defect Caused Delayed Filing Issue Whether an appellate order dismissing a statutory appeal solely on grounds of limitation is sustainable when the underlying adjudication order… Read More »