Tag Archives: DCIT

Date of share transfer determines capital gains accrual, preventing substitution of subsequent higher transaction pricing.

By | September 11, 2026
0 Comment

Date of share transfer determines capital gains accrual, preventing substitution of subsequent higher transaction pricing. Issue Whether the Assessing Officer was justified in treating two separate share transfers executed on different dates at different prices as a single composite transaction and substituting the higher subsequent price for the earlier transfer to assess capital gains. Facts… Read More »

Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value

By | September 3, 2026
0 Comment

Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value Issue Whether an assessee is entitled to depreciation under Section 32 on intangible assets (brands and trade names) acquired pursuant to a demerger, when the issue is covered by Tribunal orders in the assessee’s own case for earlier years. Whether… Read More »

Unauthenticated Digital Evidence Lacking Hash Value Integrity and Chain of Custody Cannot Basis Unexplained Additions

By | August 28, 2026
0 Comment

Unauthenticated Digital Evidence Lacking Hash Value Integrity and Chain of Custody Cannot Basis Unexplained Additions Issue Whether additions made under Sections 69 and 69C based on digital images and WhatsApp conversations retrieved from a third party are legally sustainable when statutory safeguards, hash value verification, and chain of custody under Section 65B of the Evidence… Read More »

ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance

By | August 22, 2026
0 Comment

ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance Issue Whether internal CUP based on State distribution tariffs, capital subsidies exemption, Section 32AC deduction on CWIP,… Read More »

Unexplained Additions Under Section 68 Are Unsustainable When Assessee Discharges Initial Burden of Proof Through Cogent Evidence

By | August 12, 2026
0 Comment

Unexplained Additions Under Section 68 Are Unsustainable When Assessee Discharges Initial Burden of Proof Through Cogent Evidence Unexplained Additions Under Section 68 Are Unsustainable When Assessee Discharges Initial Burden of Proof Through Cogent Evidence Issue Whether the additions made under Section 68 of the Income-tax Act, 1961 were legally sustainable when the assessee furnished documentary… Read More »

Provisional and Confirmed Benami Attachment Valid Despite Prior PMLA Attachment Due to Non-Disclosure

By | July 27, 2026
0 Comment

Provisional and Confirmed Benami Attachment Valid Despite Prior PMLA Attachment Due to Non-Disclosure Provisional and Confirmed Benami Attachment Valid Despite Prior PMLA Attachment Due to Non-Disclosure Issue Whether an Initiating Officer can validly pass and continue a provisional attachment under Section 24 of the PBPT Act, 1988, leading to confirmation under Section 26(3), when the… Read More »

Jurisdiction objections must be timely, DTAA benefits apply to DDT, and accrued provisions are allowable.

By | July 16, 2026
0 Comment

Jurisdiction objections must be timely, DTAA benefits apply to DDT, and accrued provisions are allowable. Issue Whether an assessment order passed by an Additional CIT authorized under section 120(4)(b) is void ab initio if the assessee fails to raise a jurisdictional objection within the statutory timeline of section 124. Whether Dividend Distribution Tax (DDT) levied… Read More »

Assessing Officer of Other Person Must Independently Record Satisfaction Before Overcoming Section 153C Sunset Clause

By | July 11, 2026
0 Comment

Assessing Officer of Other Person Must Independently Record Satisfaction Before Overcoming Section 153C Sunset Clause Assessing Officer of Other Person Must Independently Record Satisfaction Before Overcoming Section 153C Sunset Clause Issue Whether a Section 153C assessment is legally valid when the Assessing Officer (AO) of the assessee blindly reproduces a forwarding letter from the searched… Read More »

Rulings favor assessee on transfer pricing filters, unearned revenue additions, and net foreign exchange losses.

By | July 11, 2026
0 Comment

Rulings favor assessee on transfer pricing filters, unearned revenue additions, and net foreign exchange losses. Issue Whether a comparable company can be excluded under the “persistent loss-making” filter if it has reported a profit in one of the preceding three financial years. Whether the Dispute Resolution Panel (DRP) should admit additional evidence to include a… Read More »

Sale proceeds from undisputed prior-year unlisted investments cannot be treated as unexplained cash credits.

By | July 9, 2026
0 Comment

Sale proceeds from undisputed prior-year unlisted investments cannot be treated as unexplained cash credits. Issue Whether the sale proceeds from the disposal of unlisted equity investments, which originated in unchecked prior years, can be treated as unexplained cash credits under section 68, and whether an ad hoc addition for commission expenses can be made under… Read More »