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    August 12, 2026   Case LawsIncome Tax
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    August 12, 2026   Case Laws Income Tax
    Identity-theft defences do not bar reassessment, but Revenue must prove disputed transactions through primary evidence during proceedings.
    August 12, 2026   Case Laws Income Tax
    Discounted Cash Flow valuation for newly incorporated companies was accepted despite later notification under the prescribed valuation rule.
    August 12, 2026   Case Laws Income Tax
    Internal CUP method upheld for project-office transactions where contract risks, rewards and revenue were fully attributed to India.
    August 12, 2026   Case Laws Income Tax
    Revisional relief for double taxation requires merits review where the same income is assessed in two different years.
    August 12, 2026   Case Laws Income Tax
    Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse material.
    August 12, 2026   Case Laws Income Tax
    MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory computation rules.
    August 12, 2026   Case Laws Income Tax
    CSR donation deductions and treaty-limited dividend tax support relief for eligible contributions and UK shareholder distributions.
    August 12, 2026   Case Laws Income Tax
    TDS non-deduction under binding interim directions does not make an employer-bank an assessee in default.
    August 12, 2026   Case Laws Income Tax
    Reassessment based on search and independent enquiry sustained, while unverifiable purchases were limited to the estimated profit element.
    August 12, 2026   Case Laws Income Tax
    Reasonable cause for cash land-transaction receipts and repayments supported deletion of penalties for statutory cash-payment breaches.
    August 12, 2026   Case Laws Income Tax
    Specific misreporting charge under section 270A is mandatory; failure to identify the statutory limb invalidates enhanced penalty.
    August 12, 2026   Case Laws Income Tax
    Assessment quashing extinguishes linked cash-loan penalty, while limitation runs from the Assessing Officer's recorded initiation.
    August 12, 2026   Case Laws Income Tax
    Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequential proceedings.
    August 12, 2026   Case Laws Income Tax
    Section 153C jurisdiction requires year-specific satisfaction and seized material; unabated assessments cannot sustain additions without incriminating evidence.
    August 12, 2026   Case Laws Income Tax
    Assessment against a deceased taxpayer is void from inception despite the legal heir pursuing appellate proceedings.
    August 12, 2026   Case Laws Customs
    Steamer-agent liability for manifested cargo deficiency applies when the agent files and verifies the Import General Manifest, supporting penalties.
    August 12, 2026   Case Laws Customs
    Statutory provisional release discretion prevails over executive instructions, with revenue safeguarded through duty payment and bond conditions.
    August 12, 2026   Case Laws Customs
    DFIA classification of Vital Wheat Gluten as wheat flour defeated customs seizure based on unsupported exemption ineligibility allegations.
    August 12, 2026   Case Laws Customs
    Automotive ECU classification follows distinct functions, requiring Revenue evidence before reclassifying control units as motor-vehicle parts.
    August 12, 2026   Case Laws Customs
    Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguards.

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      Income Tax

      Waiver of loan amount - when a portion of the loan is waived,...

      Loan Waiver Reduces Liabilities, Boosts Capital Reserves; Recorded as Capital Receipt in Profit & Loss Account.

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      Income TaxApril 26, 2016Case LawsHC
      Waiver of loan amount - when a portion of the loan is waived, the total amount of loan shown on the liabilities side of the balance sheet is reduced and the amount shown as Capital Reserves, is increased to the extent of waiver - amount representing the waived portion of the loan is shown as a capital receipt in the profit and loss account itself - HC
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