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 »
INCOME TAX CASE LAWS 29.08.2026 Relevant Act Section Case Law Title Citation Brief Summary Income-tax Act, 1961 Section 2(15) International Society for Krishna Consciousness v. Commissioner of Income-tax (Exemptions) Click Here Examining income application, receipt quantum, and profitability during Section 12AB renewal exceeded CIT(E)’s jurisdiction, rendering rejection unsustainable. Income-tax Act, 1961 Section 2(15) International Society… Read More »
INCOME TAX CASE LAWS 27.08.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 4 Biodiversity Conservation Society of Telangana (BIOSOT) v. Union of India Where BIOSOT, a statutory society discharging sovereign functions under Article 48A, functioned as an instrumentality of the State, its receipts were immune from income tax under Article 289(1), making… Read More »
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 »