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    July 22, 2026   Case Laws Income Tax
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July 22, 2026   Case Laws Income Tax
Joint development agreements trigger capital gains on development possession, while multiple allotted flats may receive residential exemption.
July 22, 2026   Case Laws Income Tax
Bona fide Form 26QB PAN errors require verification and manual TDS credit rectification; factually flawed reassessment notices fail.
July 22, 2026   Case Laws Income Tax
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash deposits.
July 22, 2026   Case Laws Income Tax
Unsupported cost estimation fails, while timely residential-property investment preserves section 54F relief despite procedural deposit non-compliance.
July 22, 2026   Case Laws Income Tax
Bona fide excessive donation exemption claims with full disclosure do not justify penalty for under-reporting or misreporting income.
July 22, 2026   Case Laws Income Tax
Joint development agreement taxability requires factual scrutiny of revenue accrual, possession, refundable deposits, and stock-in-trade character.
July 22, 2026   Case Laws Income Tax
Mandatory scrutiny notice by the assessing officer is essential; assessment without it is jurisdictionally invalid and consequential proceedings fail.
July 22, 2026   Case Laws Income Tax
Unsecured loan genuineness and sufficient own funds defeated cash-credit additions and interest disallowance on interest-free group advances.
July 22, 2026   Case Laws Income Tax
Political donation genuineness requires credible proof beyond banking records when surrounding circumstances indicate possible accommodation entries.
July 22, 2026   Case Laws Income Tax
Rectification limitation under section 154 is jurisdictional: delayed applications cannot be entertained without statutory power to condone delay.
July 22, 2026   Case Laws Income Tax
Assessee-selected NAV valuation method limits tax scrutiny; share-premium addition cannot rest on alternative valuation or alleged FEMA breaches.
July 22, 2026   Case Laws Income Tax
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallowed.
July 22, 2026   Case Laws Income Tax
Voluntary retirement scheme receipts treated as capital where resignation, not employer termination, governed cessation of employment.
July 22, 2026   Case Laws Customs
Intended use of warehoused capital goods suffices, preventing interest solely because goods were not actually deployed.
July 22, 2026   Case Laws Customs
Aluminium formwork used as on-site shuttering qualifies as aluminium structures, supporting customs exemption eligibility.
July 22, 2026   Case Laws Customs
Demurrage charges outside the goods price cannot increase transaction value, while demands must remain within the show cause notice.
July 22, 2026   Case Laws Customs
Tariff classification of automotive camera components determines integrated-circuit exemption eligibility while excluding vehicle wiring harnesses and motor-vehicle camera covers.
July 22, 2026   Case Laws IBC
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out basis.
July 22, 2026   Case Laws Service Tax
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for resale.
July 21, 2026   Notifications Income Tax
Zero coupon bond status granted to the infrastructure financing bank's ten-year bond, subject to statutory and regulatory conditions.

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Income Tax

Addition u/s 68 - unexplained investment - CIT(A) looked into...

CIT(A) Addresses Unexplained Investment u/s 68; Assessee's Share Premium Must Follow Section 56(2)(viib) & Rule 11UA(1)(c)(b.

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Income Tax December 16, 2022 Case Laws AT
Addition u/s 68 - unexplained investment - CIT(A) looked into the matter from the angle of the provision of section 56(2)(viib) brought on the statute book by the Finance Act, 2012 w.e.f. 01.04.2013. He observed that the premium charged by the assessee has to be subjected to the provisions of section 56(2)(viib) read with Rule 11UA(1)(c)(b) and it is for the assessee to furnish reliable valuation determining such share premium from a qualified valuer. The same premium are to be brought to tax. The Ld. CIT(A) gave necessary direction to the Ld. AO in this regard. Nothing has been brought on record by the Revenue to enable us to take a different view. - AT
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Acts Income Tax
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