INCOME TAX CASE LAWS 05.10.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2(47) Dr. Arvind Kumar R Shaw v. Union of India Handing over possession, registration, and insurance of a car to a broker for sale constitutes a complete sale, making it a short-term capital asset taxable for capital gains, despite retaining… Read More »
INCOME TAX CASE LAWS 03.10.20226 Section Case Law Title Brief Summary Citation Relevant Act N/A CBDT Notification Amendment CBDT amended Notification dated March 30, 1988 (substituting clause (ba)) placing Joint Commissioners of Income-tax (Appeals) and Additional Commissioners of Income-tax (Appeals) under the jurisdiction of the respective Pr. CCITs/CCITs within whose jurisdiction they function. Click… Read More »
INCOME TAX CASE LAWS 29.09.2026 Section Relevant Act Case Law Title Brief Summary Citation Section 139(1) Income-tax Act, 1961 CBDT Press Release Extended due dates for filing tax audit reports (from Sept 30 to Oct 21, 2026) and Income Tax Returns (from Oct 31 to Nov 21, 2026) for AY 2026-27 for audited taxpayers.… Read More »
INCOME TAX CASE LAWS 01.10.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 11 Kathir Foundation v. Director of Income-tax Click Here Where a charitable trust violates section 13, exemption under section 11 is denied only for the non-conforming investment income (taxed at maximum marginal rate under proviso to section… Read More »
INCOME TAX CASE LAWS 30.09.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 14A Karur Vysya Bank Ltd. v. Commissioner of Income-tax-I Click Here Disallowance under Section 14A r.w. Rule 8D is unjustified for a banking company with sufficient surplus funds when no expenditure was actually incurred to earn exempt… Read More »
INCOME TAX CASE LAWS 28.09.20226 SECTION CASE LAW TITLE Brief Summary Citation Relevant Act Section 9 Joint Commissioner of Income-tax v. Chowgule & Company (P.) Ltd. Payments made to non-residents for consultancy/technical services rendered outside India before retrospective amendments do not attract withholding requirements and cannot be disallowed under Section 40(a)(i). Click Here Income-tax… Read More »
INCOME TAX CASE LAWS 26.09.2026 INCOME TAX CASE LAWS 26.09.2026 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 25.09.2026 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 24.09.2026 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 23.09.2026 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 »