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    July 29, 2026   Case LawsIncome Tax
    Misreporting penalty notices must state their factual basis; unsupported allegations cannot sustain enhanced tax penalties.
    July 29, 2026   Case LawsIncome Tax
    Live nexus with the assessee is essential before seized broker records can support reassessment for alleged unrecorded consideration.
    July 29, 2026   Case LawsIncome Tax
    Genuine hardship in belated Form 10 filings requires justice-oriented consideration, enabling accumulation exemption claims where prescribed investmen...
    July 29, 2026   Case LawsIncome Tax
    Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
    July 29, 2026   Case LawsIncome Tax
    Statutory deferral of final assessment protects Dispute Resolution Panel objections until directions are issued and proceedings lawfully resume.
    July 29, 2026   Case LawsIncome Tax
    Reassessment limits and operating subsidy treatment govern transfer-pricing benchmarking of closely linked distribution transactions.
    July 29, 2026   Case LawsIncome Tax
    Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
    July 29, 2026   Case LawsIncome Tax
    Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
    July 29, 2026   Case LawsIncome Tax
    Limited look-back confines charitable registration renewal scrutiny and bars reliance on historical allegations during Form 10AB assessment.
    July 29, 2026   Case LawsIncome Tax
    Foreign exchange loss on capital borrowing remains capital in nature and cannot be claimed as business expenditure.
    July 29, 2026   Case LawsIncome Tax
    Make-available test excludes dependent research support fees from FTS treatment, leaving them taxable only as business profits.
    July 29, 2026   Case LawsIncome Tax
    Scope of registration enquiry requires evidence-based scrutiny, while existing charitable registration needs separate statutory cancellation procedure...
    July 29, 2026   Case LawsIncome Tax
    Continuing new tax regime option remains effective despite an incorrect first-year declaration in a later return.
    July 29, 2026   Case LawsIncome Tax
    Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
    July 29, 2026   Case LawsIncome Tax
    Section 87A rebate on short-term capital gains remains available for eligible taxpayers under the unamended law for AY 2024-25.
    July 29, 2026   Case LawsGST
    Supplier tax payment remains a valid condition for Input Tax Credit, despite a purchasing dealer's asserted bona fides.
    July 29, 2026   Case LawsIncome Tax
    Arm's length sales commission and working-capital adjustment supported deletion of separate transfer-pricing adjustments for intra-group transactions.
    July 29, 2026   Case LawsIncome Tax
    Share capital credits supported by primary evidence cannot be added merely on suspicion or untested adverse statements.
    July 29, 2026   Case LawsCustoms
    Fabric classification requires evidence before concessional customs exemption can be denied through reclassification as bleached and dyed goods.
    July 29, 2026   Case LawsCustoms
    Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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    July 29, 2026   Case Laws Income Tax
    Misreporting penalty notices must state their factual basis; unsupported allegations cannot sustain enhanced tax penalties.
    July 29, 2026   Case Laws Income Tax
    Live nexus with the assessee is essential before seized broker records can support reassessment for alleged unrecorded consideration.
    July 29, 2026   Case Laws Income Tax
    Genuine hardship in belated Form 10 filings requires justice-oriented consideration, enabling accumulation exemption claims where prescribed investments are established.
    July 29, 2026   Case Laws Income Tax
    Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failures.
    July 29, 2026   Case Laws Income Tax
    Statutory deferral of final assessment protects Dispute Resolution Panel objections until directions are issued and proceedings lawfully resume.
    July 29, 2026   Case Laws Income Tax
    Reassessment limits and operating subsidy treatment govern transfer-pricing benchmarking of closely linked distribution transactions.
    July 29, 2026   Case Laws Income Tax
    Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrutiny.
    July 29, 2026   Case Laws Income Tax
    Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mutuality.
    July 29, 2026   Case Laws Income Tax
    Limited look-back confines charitable registration renewal scrutiny and bars reliance on historical allegations during Form 10AB assessment.
    July 29, 2026   Case Laws Income Tax
    Foreign exchange loss on capital borrowing remains capital in nature and cannot be claimed as business expenditure.
    July 29, 2026   Case Laws Income Tax
    Make-available test excludes dependent research support fees from FTS treatment, leaving them taxable only as business profits.
    July 29, 2026   Case Laws Income Tax
    Scope of registration enquiry requires evidence-based scrutiny, while existing charitable registration needs separate statutory cancellation procedure.
    July 29, 2026   Case Laws Income Tax
    Continuing new tax regime option remains effective despite an incorrect first-year declaration in a later return.
    July 29, 2026   Case Laws Income Tax
    Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain deductible.
    July 29, 2026   Case Laws Income Tax
    Section 87A rebate on short-term capital gains remains available for eligible taxpayers under the unamended law for AY 2024-25.
    July 29, 2026   Case Laws GST
    Supplier tax payment remains a valid condition for Input Tax Credit, despite a purchasing dealer's asserted bona fides.
    July 29, 2026   Case Laws Income Tax
    Arm's length sales commission and working-capital adjustment supported deletion of separate transfer-pricing adjustments for intra-group transactions.
    July 29, 2026   Case Laws Income Tax
    Share capital credits supported by primary evidence cannot be added merely on suspicion or untested adverse statements.
    July 29, 2026   Case Laws Customs
    Fabric classification requires evidence before concessional customs exemption can be denied through reclassification as bleached and dyed goods.
    July 29, 2026   Case Laws Customs
    Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technical evidence.

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      Income Tax

      Carry forward and set off of losses - the status of the company...

      Closely Held Company Loses Tax Benefits Due to Significant Shareholding Change u/s 79 of the Income Tax Act.

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      Income TaxAugust 29, 2018Case LawsAT
      Carry forward and set off of losses - the status of the company was “closely held company”, i. e. , a company in which public is not substantially interested, when the change in shareholding took place. - Since there is a change in shareholding exceeding 49%, the assessee company is not entitled to set off brought forward losses u/s 79.
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