INCOME TAX CASE LAW 15.05.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 5 Commissioner of Income-tax v. Sterling Holiday Resorts (India) Ltd. Upfront membership fees with continuing contractual service obligations over time cannot be taxed entirely in the initial year; deferred revenue recognition per AS-9 is justified. Click Here Income-tax Act, 1961… Read More »
INCOME TAX CASE LAWS 26.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Prohibition of Benami Property Transactions Act, 1988 Section 2(9) Lateef Qureshi v. Ajeem Qureshi Click Here Property acquired by a father in the names of his minor sons falls under the exception in Section 2(9)(iii) and is not a prohibited… Read More »
INCOME TAX CASE LAWS 25.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Prohibition of Benami Property Transactions Act, 1988 Section 2 Om Parkash Agarwal v. Initiating Officer (DCIT/ACIT) Click Here Acquisition of substantial shares by a paper company lacking genuine operations/capital, funded via connected entities, held as a benami transaction with the… Read More »
INCOME TAX CASE LAWS 21.08.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2(14) Munijhar v. Income-tax Officer Agricultural land situated beyond 8 km from municipal limits of Greater Noida is not a capital asset; profit on sale is exempt. Click Here Income-tax Act, 1961 Section 2(24) DCIT v. ACC Ltd. Excise-duty exemption… Read More »
INCOME TAX CASE LAW 13.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 2(14) Akhilesh Bansal v. ITO, Ward 1 (1) Click Here Rural agricultural land located beyond 8 km from municipal limits is not a capital asset under Section 2(14)(iii); hence, enhanced compulsory acquisition compensation is not taxable under Section… Read More »
INCOME TAX CASE LAWS 12.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 9 Principal Commissioner of Income-tax v. Cholamandalam Click Here SLP dismissed; TDS is not deductible on survey fees paid to non-resident surveyors outside India as services were entirely rendered outside the country. Income-tax Act, 1961 Section… Read More »
INCOME TAX CASE LAW 11.08.2026 Relevant Act Section Case Law Title / Matter Citation Brief Summary Tribunals Reforms Act Legislative Update Tribunals Reforms Bill, 2026 Click Here The Lok Sabha passed the Tribunals Reforms Bill, 2026, repealing the 2021 Act to set up an independent National Tribunals Commission overseeing appointments and service conditions across tribunals.… Read More »
INCOME TAX CASE LAWS 11.08.2026 Section Case Law Title Citation Relevant Act Brief Summary Section 2(47) Smt. Mrunalini Kalagara v. Income-tax officer Click Here Income-tax Act, 1961 Transfer of immovable property via a registered sale deed constitutes a “transfer” attracting capital gains under Section 45, even if coercion or non-receipt of consideration is claimed. Matter… Read More »
INCOME TAX CASE LAWS 07.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Legislative Update N/A Taxation and Other Laws (Amendment) Bill, 2026 Click Here Replaces the Income-tax (Amendment) Ordinance, 2026. Amends the Income-tax Act, 2025, Finance Act, 2026, and Payment & Settlement Systems Act, 2007 to introduce tax incentives for fund management, electronics… Read More »
INCOME TAX CASE LAWS 04.08.2026 Section Relevant Act Case Law Title Citation Brief Summary Section 2 Prohibition of Benami Property Transactions Act, 1988 Chhotelal v. Moolchand Lodhi Click Here Property purchased in the name of a child or out of joint family funds is excluded from the definition of a benami transaction; a civil suit… Read More »