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 »
INCOME TAX CASE LAWS 09.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2(15) Commissioner of Income-tax (Exemptions) v. Gujarat Housing Board Where Gujarat Housing Board claimed exemption under sections 11 and 12, proviso to section 2(15) read with section 13(8) was not applicable and assessee was entitled to benefit of sections 11… Read More »
INCOME TAX CASE LAWS 08.09.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 9 Caterpillar India (P.) Ltd. v. Deputy Commissioner of Income-tax Reimbursement of actual salary to overseas AEs for seconded employees working under the assessee’s control—where tax was deducted under section 192—is a pure reimbursement without an income… Read More »
INCOME TAX CASE LAWS 07.09.2026 INCOME TAX CASE LAWS 07.09.2026 Section Relevant Act Case Law Title Brief Summary Citation Section 36(1)(iii) Income-tax Act, 1961 GTV Sez Phase 1 (P.) Ltd. v. Assessment unit Face Less Income-tax Department Grant of an occupancy certificate is not determinative for allowability; interest on borrowed funds utilized for constructing commercial… Read More »
INCOME TAX CASE LAW DIGEST 05.09.2026 INCOME TAX CASE LAW DIGEST 05.09.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 11 Society for Human Transformation and Research v. Income-tax Officer Invocation of Section 40A(2)(a) and denial of Sections 11/12 exemption was unsustainable where loans were given to specified persons at lower interest from… Read More »
INCOME TAX CASE LAW 05.08.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2 Myrah Trade and Business v. Deputy Commissioner of Income-tax (BPU-1) Unverified gold sale receipt of ₹25 lakh without KYC or proof of delivery was held to be a bogus arrangement to convert demonetized currency into transfer entries; attachment as… Read More »
INCOME TAX CASE LAWS 03.09.2026 Relevant Act Section Case Law Title Citation Brief Summary Prohibition of Benami Property Transactions Act, 1988 Section 2(9) Alishan Complex (P.) Ltd. v. Initiating Officer Click Here Retracted statement of a CA recorded during search without cross-examination could not be relied upon to allege benami cash routing where pre-existing reserves… Read More »
INCOME TAX CASE LAW 02.09.2026 Section Relevant Act Case Law Title Citation Brief Summary Section 2(47) Income-tax Act, 1961 Sandhya Roy v. Income-tax Officer Click Here Where reassessment was framed treating execution of a JDA as a transfer without a return filed, the CIT(A) order was set aside and remitted for fresh decision on merits… Read More »
INCOME TAX CASE LAWS 31.08.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2(14) / Section 54B Vasudev, Harsora v. ITA Dhar Where assessee sold ancestral agricultural land and capital asset status/Section 54B claims lacked record evidence, ex parte appellate order was set aside and remanded for de novo consideration upon submission of… Read More »