Addition for Unexplained Investment Is Deletable Upon Source Explanation and Failure to Refer Stamp Value Difference to Valuation Officer Invalidates Section 56(2)(vii)(b) Addition

By | November 10, 2026
0 Comment

Addition for Unexplained Investment Is Deletable Upon Source Explanation and Failure to Refer Stamp Value Difference to Valuation Officer Invalidates Section 56(2)(vii)(b) Addition Issue Whether an addition under Section 69 for unexplained investment in an immovable property is sustainable when the assessee provides bank statements explaining the source of his 1/3rd share. Whether an addition… Read More »

Ad-hoc Disallowances Without Rejection of Books Under Section 145(3) Are Unjustified and Deletable

By | November 10, 2026
0 Comment

Ad-hoc Disallowances Without Rejection of Books Under Section 145(3) Are Unjustified and Deletable Issue Whether ad-hoc and estimated disallowances made by tax authorities in respect of alleged bogus purchases, sales promotion expenses, foreign travel expenses, related party professional fees/salaries under Section 40A(2), and operational cash expenses are legally sustainable without invoking Section 145(3) to reject… Read More »

Transfer Pricing Adjustments for Specified Domestic Transactions Initiated Post-Omission of Section 92BA Are Void and Cannot Be Sustained Under Section 40A(2)

By | November 10, 2026
0 Comment

Transfer Pricing Adjustments for Specified Domestic Transactions Initiated Post-Omission of Section 92BA Are Void and Cannot Be Sustained Under Section 40A(2) Issue Whether references made by the Assessing Officer under Section 92CA for specified domestic transactions (SDTs) covered by Section 92BA, when initiated after 1 April 2017 (post-omission of Section 92BA(i)), could validly sustain transfer-pricing… Read More »

Gains on Transfer of Deep Discount Bonds Are Long-Term Capital Gains Eligible for Section 54EC Benefit Without Annual Interest Accrual Addition

By | November 10, 2026
0 Comment

Gains on Transfer of Deep Discount Bonds Are Long-Term Capital Gains Eligible for Section 54EC Benefit Without Annual Interest Accrual Addition Issue Whether gains arising from the transfer of interest coupon strips/Deep Discount Bonds (DDBs) are assessable as long-term capital gains based on the period of holding, making the assessee eligible for deduction under Section… Read More »

Advances for Extended Warranty are Taxable Upon Contract Maturity to Avoid Double Taxation, While Stock, Depreciation, and ESOP Disallowances Require Factual Verification

By | November 10, 2026
0 Comment

Advances for Extended Warranty are Taxable Upon Contract Maturity to Avoid Double Taxation, While Stock, Depreciation, and ESOP Disallowances Require Factual Verification Issue Whether taxing advances collected towards extended warranty in the year of receipt amounts to double taxation when the assessee already offers them to tax in the year of contract maturity. Whether a… Read More »

Bank Account Transfers from Shell Entities Devoid of Genuine Business and Unexplained Goods Supply Constitute Benami Transactions Under PBPT Act

By | November 10, 2026
0 Comment

Bank Account Transfers from Shell Entities Devoid of Genuine Business and Unexplained Goods Supply Constitute Benami Transactions Under PBPT Act Issue Whether cash deposits during demonetisation routed through defunct entities to the appellant constitute benami transactions under Section 2(9)(A) of the PBPT Act, 1988, warranting provisional attachment under Section 24, and whether the deletion of… Read More »

GST CASE LAWS 06.11.2026

By | November 6, 2026
0 Comment

GST CASE LAWS 06.11.2026   Relevant Act Section Case Law Title Citation Brief Summary Integrated Goods and Services Tax Act, 2017 Section 13 Expedia Online Travel Services India (P.) Ltd. v. Commissioner of Central Goods and Services Tax, Haryana Click Here Business support and software development services rendered on a cost-plus basis to overseas affiliates… Read More »

Unavailed pre-GST capital goods credit, including 100% amounts and clerical invoice annexures, is fully transitionable through TRAN-1 without prior partial availment limits.

By | November 6, 2026
0 Comment

Unavailed pre-GST capital goods credit, including 100% amounts and clerical invoice annexures, is fully transitionable through TRAN-1 without prior partial availment limits. Issue Whether transitional Input Tax Credit (ITC) on capital goods received in the pre-GST period can be transitioned through Form GST TRAN-1 under Section 140(2) when no prior credit had been availed due… Read More »

Section 129 Penalty for Goods Interception Must Be Confined Exclusively to Undocumented Excess Consignment

By | November 6, 2026
0 Comment

Section 129 Penalty for Goods Interception Must Be Confined Exclusively to Undocumented Excess Consignment Issue Whether a penalty under Section 129 of the Central/Uttar Pradesh Goods and Services Tax Act, 2017 should be levied on the entire consignment or restricted strictly to the excess undocumented goods found during transit verification. Facts A vehicle (UP33T6106) carrying… Read More »

Penalizing Goods Detention Is Justified as Invoice Mismatches and Multiple E-Way Bills Evince Tax Evading Intent

By | November 6, 2026
0 Comment

Penalizing Goods Detention Is Justified as Invoice Mismatches and Multiple E-Way Bills Evince Tax Evading Intent Issue Whether the detention of goods and conveyance under Section 129 is legally justified when goods are accompanied by tax invoices and e-way bills, but surrounding physical discrepancies, supplier-wise mismatches, and multiple generated/cancelled e-way bills establish an intent to… Read More »