Important Income Tax Case Laws 27.04.2026

Relevant Act	Section	Case Law Title	Citation	Brief Summary
Income Tax	Sec 4 / 145	Ghanshyam Infrastructure (P.) Ltd. v. DCIT	Click Here	Contractual Receipts: Assessable in the year profit is offered if records fail to prove reflection in earlier returns. 8% net profit rate upheld as AO failed to justify 12% estimation.
Income Tax	Sec 32	CIT-LTU v. Tata Motors Ltd.	Click Here	Depreciation: (SC Dismissal) Assessee is entitled to claim depreciation on assets that have been leased out to others.
Income Tax	Sec 37(1)	SPS Construction India (P.) Ltd. v. DCIT	Click Here	Bogus Purchases: Purchases cannot be treated as non-genuine based solely on employee statements if substantiated by invoices, weighbridge slips, and bank records.
Income Tax	Sec 43B	Schlumberger Solutions (P.) Ltd. v. ACIT	Click Here	Service Tax Liability: No disallowance u/s 43B if the unpaid liability was not routed through the P&L account or claimed as a deduction.
Income Tax	Sec 69A	SPS Construction India (P.) Ltd. v. DCIT	Click Here	Unexplained Money: Additions based on vague third-party survey statements or seized registers without specific linkage to the assessee are unsustainable.
Income Tax	Sec 80-IA	SPS Construction India (P.) Ltd. v. DCIT	Click Here	Infrastructure Developer: EPC/Turnkey contractors with complete responsibility (design, procurement, risk-bearing) are “Developers” eligible for deduction.
Income Tax	Sec 92C	Unilever Industries (P.) Ltd. v. ACIT	Click Here	TP – Pass-through Costs: Costs recovered from AEs on a pure cost-to-cost basis (no markup/value add) must be excluded from the operating base for PLI.
Income Tax	Sec 115JAA	SPS Construction India (P.) Ltd. v. DCIT	Click Here	MAT Credit: AO must verify and compute the correct MAT credit if brought forward figures were misstated due to clerical errors.
Income Tax	Sec 147	Ghanshyam Infrastructure (P.) Ltd. v. DCIT	Click Here	Reassessment: Validly initiated u/s 148 where substantial contractual receipts are reflected in Form 26AS but no return of income was filed.
Income Tax	Sec 271DA	MSN Laboratories (P.) Ltd. v. Addl. CIT	Click Here	Penalty Limitation: Limitation for Sec 271DA is reckoned from the date the AO refers the case to the JCIT, not the date of the JCIT’s show-cause notice.

For More :- Read Important Income Tax Case Laws 25.04.2026