INCOME TAX CASE LAWS 13.07.2026 INCOME TAX CASE LAWS 13.07.2026 Section Case Law Title / Notification Brief Summary Citation Relevant Act Notification F. NO. 225/73/2025-ITA-II, Dtd 08-07-2026 CBDT authorizes the DGIT (Systems) to upload foreign tax information received under the Automatic Exchange of Information (AEOI) framework directly to the Annual Information Statement (AIS) within specified… Read More »
INCOME TAX CASE LAW 10.07.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 2(14) Ketan Pravinchandra Kamdar v. Deputy Commissioner of Income-tax Surrendering an allotment right to a flat constitutes a capital asset; compensation received for its relinquishment is taxable as capital gains, making any resultant long-term capital loss allowable.… Read More »
INCOME TAX CASE LAWS 09.07.2026 INCOME TAX CASE LAWS 09.07.2026 Section Case Law Title / Notification Brief Summary Citation Relevant Act Section 10(23EE) & Section 11 / Sch III Notification: S.O. 3683(E) & S.O. 3684(E), Dtd 07-07-2026 CBDT notifies the Core Settlement Guarantee Fund set up by National Commodity Clearing Limited (NCCL) for tax exemption… Read More »
INCOME TAX CASE LAWS 07.07.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 2(14) Sundaramahalingam Narayanan v. Income-tax Officer Click Here No capital gains are chargeable if the Revenue fails to prove that the agricultural land sold falls within a municipality covered by a valid notification under Section 2(14)(iii)(b). Income-tax… Read More »
INCOME TAX CASE LAW 06.07.2026 Relevant Act Section Case Law Title / Issuing Authority Citation / Notification No. Brief Summary Income-tax Act, 1961 TDS Exemption (IFSC Units) Central Board of Direct Taxes (CBDT) Click Here Exempts TDS under Section 194 (noted as 393 in edit) on lease rent or supplemental lease rent paid to eligible… Read More »
INCOME TAX Case Law 04.07.2026 Relevant Act Section / Authority Case Law / Notification Title Citation Brief Summary Income-tax Act, 1961 Section 10(46) Notification No. 73/2026 Click Here CBDT grants income tax exemption to Mussoorie Dehradun Development Authority (MDDA) on specified incomes (grants, leases, bank interest, etc.) retrospectively for AYs 2022-23 and 2023-24. Income-tax Act,… Read More »
INCOME TAX CASE LAWS 03.07.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec 2(15) Reliance Foundation Hospital Trust v. CIT (Exemptions) 2026 Click Here Offering premium rooms/high tariffs does not wipe out a hospital’s charitable nature as long as the generated surplus is devoted back to charitable purposes. Income-tax Act,… Read More »
INCOME TAX CASE LAWS 29.07.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec. 32 LNW India Solutions (P.) Ltd. v. Assistant Commissioner of Income-tax / TPO Click Here Depreciation on goodwill arising from an amalgamation and recognized via the pooling-of-interest method cannot be denied under Sec. 32(1)(ii) in the absence… Read More »
INCOME TAX CASE LAWS 27.06.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec 2(47) Income-tax Officer v. Ramesh Shankarlal Bhandari Click Here Relinquishing all development and possessory rights over a land parcel for a lump-sum consideration amounts to a ‘transfer’. The assessee is entitled to the full indexed cost… Read More »
INCOME TAX CASE LAW 25.06.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec. 11 Gahoi Vaishya Kalyan Samiti v. Income-tax Officer (Exemption) 2026 Click Here Where a trust utilized deemed application income to buy immovable property, a mere clerical omission to disclose this in Schedule-I of ITR-7 (which meant for… Read More »