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    August 10, 2026   Case LawsIncome Tax
    TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer.
    August 10, 2026   Case LawsIncome Tax
    Reasonable cause for non-audit protected commission-based milk-pouch sales from penalty after returned income was accepted without additions.
    August 10, 2026   Case LawsIncome Tax
    Stamp-duty valuation disputes require a valuation reference when requested, preventing unsupported additions under section 56(2)(x).
    August 10, 2026   Case LawsIncome Tax
    Notional rental income requires receipt or accrual; reimbursement-only arrangements cannot support taxation of usage charges.
    August 10, 2026   Case LawsIncome Tax
    Communication of reopening reasons is essential to reassessment jurisdiction; withholding them invalidates the notice and resulting assessment order.
    August 10, 2026   Case LawsCustoms
    Specific allegations in Customs Broker notices are essential; vague notices invalidate disciplinary action and consequential licence sanctions.
    August 10, 2026   Case LawsCustoms
    Deliberate customs misclassification and wrongful exemption claims justified extended limitation for duty recovery and upheld the demand.
    August 10, 2026   Case LawsCustoms
    Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
    August 10, 2026   Case LawsCustoms
    Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
    August 10, 2026   Case LawsCustoms
    Customs exemption exclusions require proof that imported flavour compounds are alcoholic beverage preparations, not reliance on earlier findings.
    August 10, 2026   Case LawsCustoms
    Customs transaction value rejection based on comparable imports sustained, with penalties for deliberate undervaluation and abetment.
    August 10, 2026   Case LawsCustoms
    Liberal construction of beneficial drawback schemes requires merits review of delayed Brand Rate applications within the extendable period.
    August 10, 2026   Case LawsCompanies Law
    Locus standi in winding-up proceedings: former director's individual challenge to creditors' claims was barred by prior final adjudication.
    August 10, 2026   Case LawsSEBI
    Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
    August 10, 2026   Case LawsMoney Laundering
    PMLA committal requires prior cognizance, protecting a substantially completed scheduled-offence trial from delay and preserving speedy trial rights.
    August 10, 2026   Case LawsMoney Laundering
    PMLA twin conditions bar regular bail where alleged undervalued asset sales generated unrecorded cash and investigation risks persist.
    August 10, 2026   Case LawsService Tax
    Composite high seas sale consideration includes letter of credit costs and cannot be split into taxable banking services.
    August 10, 2026   Case LawsIndian Laws
    Personal liability for trust cheque dishonour requires proof of enforceable debt; rebutted presumptions support acquittal.
    August 10, 2026   Case LawsIndian Laws
    Net Owned Fund compliance remained mandatory despite a pending amalgamation proposal, sustaining cancellation of NBFC registration.
    August 8, 2026   CircularsCustoms
    Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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    August 10, 2026   Case Laws Income Tax
    TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer.
    August 10, 2026   Case Laws Income Tax
    Reasonable cause for non-audit protected commission-based milk-pouch sales from penalty after returned income was accepted without additions.
    August 10, 2026   Case Laws Income Tax
    Stamp-duty valuation disputes require a valuation reference when requested, preventing unsupported additions under section 56(2)(x).
    August 10, 2026   Case Laws Income Tax
    Notional rental income requires receipt or accrual; reimbursement-only arrangements cannot support taxation of usage charges.
    August 10, 2026   Case Laws Income Tax
    Communication of reopening reasons is essential to reassessment jurisdiction; withholding them invalidates the notice and resulting assessment order.
    August 10, 2026   Case Laws Customs
    Specific allegations in Customs Broker notices are essential; vague notices invalidate disciplinary action and consequential licence sanctions.
    August 10, 2026   Case Laws Customs
    Deliberate customs misclassification and wrongful exemption claims justified extended limitation for duty recovery and upheld the demand.
    August 10, 2026   Case Laws Customs
    Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exemption.
    August 10, 2026   Case Laws Customs
    Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary stage.
    August 10, 2026   Case Laws Customs
    Customs exemption exclusions require proof that imported flavour compounds are alcoholic beverage preparations, not reliance on earlier findings.
    August 10, 2026   Case Laws Customs
    Customs transaction value rejection based on comparable imports sustained, with penalties for deliberate undervaluation and abetment.
    August 10, 2026   Case Laws Customs
    Liberal construction of beneficial drawback schemes requires merits review of delayed Brand Rate applications within the extendable period.
    August 10, 2026   Case Laws Companies Law
    Locus standi in winding-up proceedings: former director's individual challenge to creditors' claims was barred by prior final adjudication.
    August 10, 2026   Case Laws SEBI
    Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fail.
    August 10, 2026   Case Laws Money Laundering
    PMLA committal requires prior cognizance, protecting a substantially completed scheduled-offence trial from delay and preserving speedy trial rights.
    August 10, 2026   Case Laws Money Laundering
    PMLA twin conditions bar regular bail where alleged undervalued asset sales generated unrecorded cash and investigation risks persist.
    August 10, 2026   Case Laws Service Tax
    Composite high seas sale consideration includes letter of credit costs and cannot be split into taxable banking services.
    August 10, 2026   Case Laws Indian Laws
    Personal liability for trust cheque dishonour requires proof of enforceable debt; rebutted presumptions support acquittal.
    August 10, 2026   Case Laws Indian Laws
    Net Owned Fund compliance remained mandatory despite a pending amalgamation proposal, sustaining cancellation of NBFC registration.
    August 8, 2026   Circulars Customs
    Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offices.

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      Home› Highlights › Income Tax › 2026 › August, 2026 › This
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      Income Tax

      Section 49(2AA) treats the fair market value used to value an...

      ESOP cost of acquisition uses perquisite fair market value regardless of whether the benefit was taxed in India.

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      Income TaxAugust 11, 2026Case LawsAT
      Section 49(2AA) treats the fair market value used to value an ESOP perquisite under section 17(2)(vi) as the cost of acquisition for capital gains purposes, without requiring that the perquisite be included in taxable income or taxed in India. Perquisite valuation and its taxability under domestic charging provisions or an applicable treaty operate independently. Taxation of the related perquisite in the United Kingdom does not prevent use of the statutory fair market value as the ESOP share cost. Capital gains were to be recomputed using the fair market value determined under section 17(2)(vi) read with Rule 3(8)(ii).
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