Tag Archives: Deputy Commissioner of Income-tax

Addition Under Section 69C Based on Uncorroborated Third-Party Seized Notebook and Incorrect Assessment Year Is Impermissible

By | September 30, 2026
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Addition Under Section 69C Based on Uncorroborated Third-Party Seized Notebook and Incorrect Assessment Year Is Impermissible Issue Whether an addition under Section 69C for alleged unexplained election expenditure can be sustained when based on a loose notebook seized from a third party without corroborative evidence, and whether undated entries relating to a 2019 Lok Sabha… Read More »

Uncorroborated Loose Sheet Addition Invalid Without Inquiry and Misapplied to Wrong Assessment Year

By | September 28, 2026
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Uncorroborated Loose Sheet Addition Invalid Without Inquiry and Misapplied to Wrong Assessment Year Uncorroborated Loose Sheet Addition Invalid Without Inquiry and Misapplied to Wrong Assessment Year Issue Whether an addition under Section 69A based on loose sheets seized during search can be sustained without independent verification/corroboration, and whether the addition was made in the correct… Read More »

Fresh Disallowance Under Section 14A Involving Debatable Exercise Cannot Be Made Under Rectification Proceedings

By | September 28, 2026
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Fresh Disallowance Under Section 14A Involving Debatable Exercise Cannot Be Made Under Rectification Proceedings Issue Whether the Assessing Officer was justified in invoking Section 154 to make a fresh disallowance of ₹35.37 lakh under Section 14A read with Rule 8D, when such disallowance requires an adjudicatory exercise and satisfaction under Section 14A(2) rather than correcting… Read More »

Reassessment order passed under Section 148A(d) beyond cut-off date is invalid and time-barred.

By | September 26, 2026
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Reassessment order passed under Section 148A(d) beyond cut-off date is invalid and time-barred. Issue Whether a reassessment order passed under Section 148A(d) on 28.07.2022 under the new regime, following an initial notice issued on 30.06.2021 under the old regime, is time-barred and legally unsustainable as it fell beyond the cut-off date of 01.04.2021 for Assessment… Read More »

Deduction under Section 10AA is allowable on voluntary transfer pricing adjustments made scientifically

By | September 26, 2026
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Deduction under Section 10AA is allowable on voluntary transfer pricing adjustments made scientifically Issue Whether an assessee operating an SEZ unit is eligible to claim a deduction under Section 10AA / Section 144 on a voluntary transfer pricing (TP) adjustment made on a scientific basis in its computation of income. Whether an ad hoc disallowance… Read More »

Lack of fresh notice under Section 143(2) after revised return invalidates assessment proceedings

By | September 26, 2026
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Lack of fresh notice under Section 143(2) after revised return invalidates assessment proceedings Issue Whether an assessment framed without issuing a fresh notice under Section 143(2) after filing a valid revised return under Section 139(5) is without jurisdiction and saved by Section 292BB. Whether depreciation is allowable on the opening written-down value (WDV) of a… Read More »

No penalty under Section 271(1)(c) for bonafide claims or deleted additions.

By | September 25, 2026
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No penalty under Section 271(1)(c) for bonafide claims or deleted additions. Issue Whether penalty under Section 271(1)(c) can be levied when disallowances (such as for ERS provisions, cash discount reserves, or bonus payments) were based on full disclosures made under a bonafide belief, or when quantum additions were deleted on merits/arithmetical grounds, or involved debatable… Read More »

Convenience fee retained by online ticketing platforms for independent services does not attract Section 194H TDS.

By | September 24, 2026
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Convenience fee retained by online ticketing platforms for independent services does not attract Section 194H TDS. Issue Whether the amount collected and retained by an online ticketing aggregator as a convenience fee from customers constitutes “commission” constructively paid by a multiplex operator, attracting TDS under Section 194H and consequential proceedings under Sections 201(1) and 201(1A).… Read More »

Reclassification of existing CCPS to share premium without fresh money receipt does not trigger Section 56(2)(viib).

By | September 24, 2026
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Reclassification of existing CCPS to share premium without fresh money receipt does not trigger Section 56(2)(viib). Reclassification of existing CCPS to share premium without fresh money receipt does not trigger Section 56(2)(viib). Issue Whether Section 56(2)(viib) can be invoked on accounting reclassifications of CCPS to share premium without fresh money receipt, and whether the Assessing… Read More »

Section 50C stamp valuation on agreement date applies when property consideration is fixed and advance paid earlier.

By | September 24, 2026
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Section 50C stamp valuation on agreement date applies when property consideration is fixed and advance paid earlier. Issue Whether the stamp duty value on the date when property consideration was fixed and advance paid through banking channels should be adopted under Section 50C, rather than the enhanced stamp value on the sale deed registration date.… Read More »