SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 Issue Whether SBI branches can be treated as “assessees in default” under Section 201(1) and charged interest under Section 201(1A) for failing to… Read More »
Processing Return Under Section 143(1) Post Section 143(2) Notice Is Valid and ESOP Cross-Charge Expenses Are Allowable Business Deductions Processing Return Under Section 143(1) Post Section 143(2) Notice Is Valid and ESOP Cross-Charge Expenses Are Allowable Business Deductions Issue Validity of Section 143(1) Processing Post Section 143(2) Notice & Doctrine of Merger: Whether processing a… Read More »
Assessments Initiated Under Section 147 Based on Material Seized During Third-Party Search Are Void for Lack of Jurisdiction Issue Whether an assessment reopened under Section 147 read with Section 148 on the basis of documents seized during a third-party search under Section 132 is valid in law, or whether the Assessing Officer is mandatorily required… Read More »
Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Issue Whether a co-operative society that mistakenly exercised the option under Section 115BAD by filing Form 10-IF is entitled to have its taxable… Read More »
Section 263 revision setting aside assessment solely to direct Section 270A penalty initiation is legally unsustainable. Issue Whether the PCIT can invoke Section 263 of the Income-tax Act, 1961 / Section 377 of the Income-tax Act, 2025 to set aside an assessment order solely for directing the Assessing Officer to initiate discretionary penalty proceedings under… Read More »
Disallowance of unsubstantiated marketing expenses is restricted to Rs. 5 lakhs, and Section 270A penalty is deleted. Issue Whether the complete disallowance of marketing expenses supported only by self-made vouchers is justified under Section 37(1) of the Income-tax Act, 1961 / Section 34 of the Income-tax Act, 2025, when the expenditure is reasonable relative to… Read More »
Section 80GGC Deduction Disallowed as Donation to Political Party Was Fake Accommodation Entry Issue Whether a claim for deduction under section 80GGC for a donation made to a registered unrecognized political party can be disallowed under section 148 reassessment when investigation material demonstrates that the contribution was a non-genuine accommodation entry. Facts The assessee claimed… Read More »
Out-of-court patent settlement, business promotion, R&D expenses, and related interest are allowable revenue deductions. Issue Whether out-of-court patent litigation settlement payments and interest on borrowings to fund such settlements are allowable business expenditures under section 37(1) and section 36(1)(iii). Whether TP adjustments on captive power plant transfers, AE sales, and loans/share application money can be… Read More »
Unauthenticated Power of Attorney and gross negligence preclude condonation of an extraordinary 2376-day appeal delay. Unauthenticated Power of Attorney and gross negligence preclude condonation of an extraordinary 2376-day appeal delay. Issue Whether an inordinate delay of 2376 days in filing an appeal can be condoned under Section 254 when supported only by an unnotarized, inadmissible… Read More »
Section 14A disallowance cannot be sustained without changed facts when Revenue accepted earlier years’ orders. Issue Whether the disallowance under Section 14A read with Rule 8D by attributing salary expenses is sustainable when identical issues were decided in favor of the assessee in preceding assessment years and accepted by the Revenue without further appeal. Facts… Read More »