Tag Archives: Principal Commissioner of Income-tax

Reassessment notice issued by an Assessing Officer lacking PAN jurisdiction is void, and CBDT guidelines cannot override statutory jurisdiction.

By | October 13, 2026
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Reassessment notice issued by an Assessing Officer lacking PAN jurisdiction is void, and CBDT guidelines cannot override statutory jurisdiction. Issue Whether a reassessment notice issued under Section 148 by an Assessing Officer lacking jurisdiction as per PAN assignment is void ab initio, and whether CBDT Instruction No. 1/2011 can override statutory jurisdiction under Section 120.… Read More »

Deletion of unexplained cash credit and bogus trading liability additions based on additional evidence involves purely factual findings, raising no substantial question of law

By | October 13, 2026
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Deletion of unexplained cash credit and bogus trading liability additions based on additional evidence involves purely factual findings, raising no substantial question of law Issue Whether any substantial question of law arises under Section 260A against an ITAT order deleting/restricting additions made under Section 68 (unexplained cash credits/accommodation entries) and bogus trading liabilities when the… Read More »

Goodwill qualifies as a depreciable intangible asset and Revenue cannot raise unpleaded issues before High Court

By | October 13, 2026
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Goodwill qualifies as a depreciable intangible asset and Revenue cannot raise unpleaded issues before High Court Issue Whether goodwill is an intangible asset eligible for depreciation under Section 32 of the Income-tax Act, 1961. Whether the Revenue can raise a new issue before the High Court that was never raised before the Commissioner (Appeals) or… Read More »

Supreme Court affirms no Section 14A disallowance without exempt income and allows premises vacation fee as revenue expense

By | October 13, 2026
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Supreme Court affirms no Section 14A disallowance without exempt income and allows premises vacation fee as revenue expense Issue Issue 1: Whether any disallowance under Section 14A can be made when no exempt income was earned by the assessee during the relevant assessment year. Issue 2: Whether compensation paid for vacating premises to secure it… Read More »

Cooperative Society Is Entitled to Section 80P(2)(d) Deduction on Interest Earned from Cooperative Banks

By | October 10, 2026
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Cooperative Society Is Entitled to Section 80P(2)(d) Deduction on Interest Earned from Cooperative Banks Issue Whether a cooperative society is entitled to claim deduction under Section 80P(2)(d) on interest income earned from investments with cooperative banks, notwithstanding the provisions of Section 80P(4). Facts Deduction Claimed: For Assessment Year 2017-18, the assessee, a cooperative society, claimed… Read More »

Concurrent Findings Affirming Developer-Contractor Eligibility for Section 80-IA Infrastructure Deductions Upheld Under Section 260A

By | October 10, 2026
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Concurrent Findings Affirming Developer-Contractor Eligibility for Section 80-IA Infrastructure Deductions Upheld Under Section 260A Issue Whether an appeal under Section 260A raises a substantial question of law when authorities below concurrently hold that a road construction entity qualifies as a developer maintaining an infrastructure facility under Section 80-IA(4) rather than being merely a contractor. Facts… Read More »

Pre-Succession Partner Withdrawals and Asset Sales Do Not Violate Section 47(xiii), Preserving Section 80-IA Deduction Eligibility

By | October 10, 2026
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Pre-Succession Partner Withdrawals and Asset Sales Do Not Violate Section 47(xiii), Preserving Section 80-IA Deduction Eligibility Issue Whether capital withdrawals by partners and sale of shares prior to a firm’s succession into a company violate proviso (a) and (c) to Section 47(xiii), rendering the succession a taxable transfer and disentitling the successor-company from claiming deduction… Read More »

Section 153C Reassessment Lacking Specific Assessment Year Mapping in Satisfaction Note Quashed as Void

By | October 9, 2026
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Section 153C Reassessment Lacking Specific Assessment Year Mapping in Satisfaction Note Quashed as Void Issue Whether proceedings initiated under Section 153C of the Income-tax Act, 1961 are legally valid when the satisfaction note recorded by the Assessing Officer fails to demonstrate how the seized incriminating material relates to specific assessment years. Facts Initiation of Proceedings:… Read More »

Reassessment Notice Issued by Jurisdictional Officer Non-Facelessly Is Invalid and Lacks Statutory Jurisdiction

By | October 9, 2026
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Reassessment Notice Issued by Jurisdictional Officer Non-Facelessly Is Invalid and Lacks Statutory Jurisdiction Issue Whether a notice issued under Section 148 by a Jurisdictional Assessing Officer without following the automated allocation mechanism and faceless procedure mandated under Section 151A and the e-Assessment scheme is legally valid. Facts Reassessment Proceedings: Reassessment proceedings under Section 148 of… Read More »

Reassessment Notice Issued by Jurisdictional Assessing Officer Under Faceless Regime Quashed for Lacking Jurisdiction

By | October 9, 2026
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Reassessment Notice Issued by Jurisdictional Assessing Officer Under Faceless Regime Quashed for Lacking Jurisdiction Issue Whether, under the faceless assessment regime governed by Sections 147, 148, 144B, 151A, and 132 of the Income-tax Act, 1961, a notice issued under Section 148 by a Jurisdictional Assessing Officer (JAO)—even if based on search and seizure information and… Read More »