INCOME TAX CASE LAWS 22.09.20226 Section Case Law Title Brief Summary Citation Relevant Act Section 10(10B) Saguirodin Amid Aga v. Income-tax Officer BSNL VRS 2019 amounts received by employees qualify as retrenchment compensation and are treated as capital receipts exempt under section 10(10B) rather than section 10(10C). Click Here Income-tax Act, 1961 Section 12AB Church… Read More »
INCOME TAX CASE LAWS 21.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 9 Teva Pharmaceuticals USA Inc. v. Deputy Commissioner of Income-tax Mere payment by an Indian resident to a non-resident does not constitute income accruing or arising in India without a real and substantive territorial nexus or application of deeming provisions;… Read More »
INCOME TAX CASE LAW 19.09.2026 Relevant Act Section / Provision Case Law Title / Source Citation Brief Summary Income-tax Rules, 2026 Rules 160, 176 & 225; Forms 169 & 171 CBDT Notification Click Here Notified the Income-tax (Fourth Amendment) Rules, 2026; revised Forms 169 and 171 for registration as a valuer and authorised practitioner, extending… Read More »
INCOME TAX CASE LAW 18.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 5 Seaview Developers (P.) Ltd. v. DCIT Excess CAM charges collected on estimate and held as ‘advance from customers’ with a contractual duty to adjust/refund via credit notes represent a liability, not taxable income. Click Here Income-tax Act, 1961 Section… Read More »
INCOME TAX CASE LAW 17.09.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 11 Sou Taradevi Asopa Foundation v. ITO Click Here Delay of 22 days in filing Form 10B audit report cannot lead to denial of Section 11 exemption if the report was available with CPC prior to… Read More »
INCOME TAX CASE LAW 16.09.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 12AB ST. Ignatius Church v. CIT (Exemptions) Click Here Denial of renewal of registration to a long-established trust solely due to lack of a formal trust deed was unsustainable since Rule 17A(2)(b) permits alternative documentary evidence. Income-tax… Read More »
INCOME TAX CASE LAWS 15.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 508 Notification 2 of 2026 Guidelines issued for Registrars and Share Transfer Agents (RTAs) detailing format and procedure for half-yearly SFT reporting of Mutual Fund transactions to pre-fill capital gains in ITRs. Click Here Income-tax Act, 2025 Section 508… Read More »
INCOME TAX CASE LAWS 14.09.2026 . Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 2(14) Namdeo Janku Thorat v. Income-tax Officer Click Here Land recorded as industrial in the registered deed and fallow non-agricultural in 7/12 records, sold to a non-agriculturist with no agricultural activity conducted, is a capital asset… Read More »
INCOME TAX CASE LAWS 11.09.2026 Section Relevant Act Case Law Title Citation Brief Summary Section 2 Prohibition of Benami Property Transactions Act, 1988 DCIT v. R. Bharathi Click Here Creation of trade payables, conversion into premium, and share buy-backs known to benamidars do not constitute benami transactions under section 2(9)(C); Income-tax contradictions do not alter… Read More »
INCOME TAX CASE LAWS 10.09.2026 Section Relevant Act Case Law Title Brief Summary Citation Section 2(47) Income-tax Act, 1961 DCIT v. Bhavna Bharat Daftary Assessing Officer cannot treat two separate share transfers executed at different dates and prices as one composite transaction and substitute a subsequent higher price merely because consideration was discharged later. Click… Read More »