INCOME TAX CASE LAWS 26.09.20226 INCOME TAX CASE LAWS 26.09.20226 Section Relevant Act Case Law Title Brief Summary Citation Section 10 Income-tax Act, 1961 Asst. Commissioner of Income-tax v. Tata AIG General Insurance Co. Ltd. General insurance companies remain entitled to Section 10(34) dividend exemption despite Section 44 computation; Section 14A disallowance deleted. Click… Read More »
INCOME TAX CASE LAWS 25.09.20226 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 2 Kutchi Jain Foundation v. Commissioner of Income Tax (E) Providing interest-free loans to needy individuals under a structured scheme for basic residential housing constitutes “relief of poor” and does not become a commercial activity merely… Read More »
INCOME TAX CASE LAWS 24.09.20226 Section Case Law Title / Case Name Brief Summary Citation Relevant Act Section 393(2) Notification No. 121/2026 CBDT amended Income-tax Rules, 2026 to allow resident individuals/HUF buying immovable property from non-residents to deposit and report TDS under Section 393(2) via Form No. 141 (with new Schedule E) and updated Form… Read More »
INCOME TAX CASE LAWS 23.09.20226 Section Case Law Title Brief Summary Citation Relevant Act Section 4 Jyoti H. Mehta v. DCIT Amount treated by AO as money market difference was actually a payment made by the assessee and thus not taxable. Click Here Income-tax Act, 1961 Section 5 Jyoti H. Mehta v. DCIT Where… Read More »
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 »