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 »
INCOME TAX CASE LAW 04.06.2026 INCOME TAX CASE LAW 04.06.2026 Relevant Act Section(s) Case Law Title Citation Brief Summary Income Tax Act, 1961 Sec. 80P, 80AC, 139 T943 Vickrapandiyam Primary Agricultural Co-operative Credit Society Ltd. vs. Chief Commissioner of Income-tax Click Here Rejection of condonation of delay applications solely for non-furnishing of particulars is unsustainable.… Read More »
INCOME TAX CASE LAW 03.06.2026 INCOME TAX CASE LAW Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 2(24) PREMAL P. PANDYA v. Deputy Commissioner of Income-tax Click Here A whistleblower reward received from the US SEC after systematically collecting evidence of FCPA violations and active assistance with expectation of reward… Read More »
INCOME TAX CASE LAW 01.06.2026 INCOME TAX CASE LAW 01.06.2026 Income Tax Case Law Summary Section Case Law Title Brief Summary Citation Relevant Act Section 10(23C)(iiiab) Hidayatullah National Law University v. ACIT Exemption denied as Government grants received during the year were only 47.85% (less than the 50% threshold mandated under Rule 2BBB), failing the… Read More »
INCOME TAX CASE LAW 29.05.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 5 State Bank of India v. Assistant Commissioner of Income-tax Click Here Interest on a bank’s securities portfolio (treated as stock-in-trade) is taxable on an accrual basis, not a due basis, as covered by earlier Tribunal orders.… Read More »