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    October 14, 2026   Case Laws Income Tax
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October 14, 2026   Case Laws Income Tax
Prospective software royalty clarification prevents tax-deduction disallowance for pre-effective-date licence renewals, while payable includes paid sums.
October 14, 2026   Case Laws Income Tax
Functional comparability requires data-driven analysis; outsourcing justified exclusion where no perversity undermined the Tribunal's factual findings.
October 14, 2026   Case Laws Income Tax
Limited scrutiny limits inquiries to notified issues, requiring deletion of an in-house R&D deduction disallowance beyond scope.
October 14, 2026   Case Laws Income Tax
Agricultural-land reinvestment qualifies when transfer consideration precedes replacement purchase, while unexamined claims may be reassessed on escaped-income grounds.
October 14, 2026   Case Laws Income Tax
Bona fide public fixed-deposit explanations prevent concealment penalties where unexplained-credit additions lack independent evidence of undisclosed income.
October 14, 2026   Case Laws Income Tax
Interest on excess refunds cannot be charged where reassessment follows an earlier scrutiny assessment rather than being the first assessment.
October 14, 2026   Case Laws Income Tax
Genuine political contributions require credible evidence beyond banking records; unsupported claims can lose deductions and penalty challenges remain premature.
October 14, 2026   Case Laws Income Tax
Misreporting penalty requires assessee-specific proof of accommodation-entry participation; donation deduction withdrawal alone cannot justify enhanced penalty.
October 14, 2026   Case Laws Income Tax
Safe-harbour tolerance for stamp-duty valuation applies retrospectively and prevents deemed income additions for marginal property-value differences.
October 14, 2026   Case Laws Customs
QCO exemption for steel imports applies when shipment met the cut-off and ARN was timely sought under SIMS.
October 14, 2026   Case Laws Customs
Statutory conclusion of customs proceedings bars later confiscation, redemption fine and penalty after timely payment of notified dues.
October 14, 2026   Case Laws Customs
Confiscation in rem survives, but customs penalties require proof that consignees knowingly participated in concealed imports.
October 14, 2026   Case Laws Customs
Tariff classification of anti-theft steering locks excludes the steering-system entry, defeating reclassification, confiscation, extended limitation, and penalties.
October 14, 2026   Case Laws Customs
Alternative Customs Classification Claims Require Merits Review; Unavailable Goods Bar Redemption Fine and Bona Fide Claims Avoid Penalty.
October 14, 2026   Case Laws Customs
Co-accused statements and WhatsApp chats require corroboration and cross-examination before they can support customs penalties.
October 14, 2026   Case Laws Customs
Duplicate customs duty payment through portal error is excess collection, placing its refund outside statutory limitation.
October 14, 2026   Case Laws Customs
Factory-consumption condition restricts solar module parts exemption and excludes imported aluminium profiles fabricated outside the production factory.
October 14, 2026   Case Laws Customs
IGST exemption for aircraft parts returned after overseas repairs prevents levy under the amended re-import framework.
October 14, 2026   Case Laws Customs
Static converter classification keeps industrial PC power supplies in their own heading while allowing conditional customs-duty exemption.
October 14, 2026   Case Laws IBC
Mandatory resolution-plan disclosure of default causes can defeat approval despite creditor support and payment protection for dissenting creditors.

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Home › Highlights › Income Tax › 2023 › February, 2023 › This
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Income Tax

Unexplained cash credit u/s.68 - double taxation - taxing the...

Double Taxation Concerns with Unexplained Cash Credits u/s 68 of Income Tax Act.

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Income Tax February 10, 2023 Case Laws AT
Unexplained cash credit u/s.68 - double taxation - taxing the source of investment and application of investment both - When an income is taxed / addition is made to taxable income in an earlier year, the assessee may claim that the income arising in subsequent year / subsequent period is sourced out of the income taxed earlier. - The credit is claimed only for the advance shown in the balance sheet that was treated as unexplained credit u/s 68 - AT
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