INCOME TAX CASE LAW 01.08.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 2(15) Amaltash Residents Welfare Association v. CIT(E) Activities limited strictly to RWA members with benefits confined to a determinate group are governed by the principle of mutuality and do not qualify as “charitable.” Rejection of Sec 12AB… Read More »
INCOME TAX CASE LAW 23.07.2026 INCOME TAX CASE LAW 23.07.2026 Section Case Law Title / Ref. Brief Summary Citation Relevant Act Rule 157 Notification No. 94/2026 CBDT widened the definition of ‘specified fund’ under Rule 157 to include Cat-I and Cat-II AIFs regulated by SEBI/IFSCA in an IFSC, alongside Schedule VI funds. Click Here Income-tax… Read More »
INCOME TAX CASE LAW 10.07.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 2(14) Ketan Pravinchandra Kamdar v. Deputy Commissioner of Income-tax Surrendering an allotment right to a flat constitutes a capital asset; compensation received for its relinquishment is taxable as capital gains, making any resultant long-term capital loss allowable.… Read More »
INCOME TAX CASE LAW 06.07.2026 Relevant Act Section Case Law Title / Issuing Authority Citation / Notification No. Brief Summary Income-tax Act, 1961 TDS Exemption (IFSC Units) Central Board of Direct Taxes (CBDT) Click Here Exempts TDS under Section 194 (noted as 393 in edit) on lease rent or supplemental lease rent paid to eligible… Read More »
INCOME TAX Case Law 04.07.2026 Relevant Act Section / Authority Case Law / Notification Title Citation Brief Summary Income-tax Act, 1961 Section 10(46) Notification No. 73/2026 Click Here CBDT grants income tax exemption to Mussoorie Dehradun Development Authority (MDDA) on specified incomes (grants, leases, bank interest, etc.) retrospectively for AYs 2022-23 and 2023-24. Income-tax Act,… Read More »
INCOME TAX CASE LAW 25.06.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec. 11 Gahoi Vaishya Kalyan Samiti v. Income-tax Officer (Exemption) 2026 Click Here Where a trust utilized deemed application income to buy immovable property, a mere clerical omission to disclose this in Schedule-I of ITR-7 (which meant for… Read More »
INCOME TAX CASE LAW 20.06.2026 INCOME TAX CASE LAW 20.06.2026 Relevant Act Section Case Law Title Brief Summary Citation Income Tax Act, 1961 Sec. 14A Cadila Pharmaceuticals Ltd. v. DCIT Disallowance under Section 14A read with Rule 8D cannot exceed the actual exempt income earned during the year; notional expenditure cannot be taxed. Click Here… Read More »
NCOME TAX CASE LAW 19.6.26 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 9 Denso International Asia Co. Ltd. v. Assistant Commissioner of Income-tax, International Taxation Management and technical services receipts provided by a Thailand resident without an Indian PE are treated as ‘Business profits’ under Article 7 (not ‘Other… Read More »
INCOME TAX CASE LAW 18.6.26 Relevant Act Section Case Law Title Citation Brief Summary Income Tax Act, 1961 Sec 5 Dy. CIT v. Capegemini Technology Services India Ltd. Click Here Foreign exchange fluctuation gains on overseas branches credited to Foreign Currency Translation Reserve are taxable only to the extent they relate to revenue items; gains… Read More »
INCOME TAX CASE LAW 15.06.2026 INCOME TAX CASE LAW 15.06.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 10(23FBA) Deputy Commissioner of Income-tax v. Sundaram Alternative Opp Series High Yield Secured Debt fund Click Here Processing fees on NCD investments are intrinsically linked to investment risks and overall yield. They… Read More »