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    May 23, 2026   Case Laws GST
    Anti-profiteering delay and GST-inclusive profiteered amount upheld, with interest and prospective penalty on unrepassed ITC benefit.
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May 23, 2026   Case Laws GST
Anti-profiteering delay and GST-inclusive profiteered amount upheld, with interest and prospective penalty on unrepassed ITC benefit.
May 23, 2026   Case Laws Income Tax
Refund adjustment against disputed tax demand barred during appeal where substantial deposit had already been made.
May 23, 2026   Case Laws Income Tax
Reassessment notices against a deceased assessee are invalid unless proceedings are brought against legal representatives under the statute.
May 23, 2026   Case Laws Income Tax
Aggregated TNMM benchmarking upheld where interlinked international transactions were tested together and no substantial question of law arose.
May 23, 2026   Case Laws Income Tax
Convertible debentures treated as equity, no transition amount under MAT, and Rule 8D disallowance failed for lack of satisfaction.
May 23, 2026   Case Laws Income Tax
Inoperative PAN triggers higher TDS, but liability may be avoided if the seller disclosed the transaction and paid due tax.
May 23, 2026   Case Laws Income Tax
Rectification of apparent error allowed where notional cost substitution for section 80-IB(10) deduction was held legally impermissible.
May 23, 2026   Case Laws Income Tax
Transfer-linked expenses and acquisition cost rules: travel claims remanded, deposits and loan interest allowed in capital gains computation.
May 23, 2026   Case Laws Income Tax
Best judgment assessment must be based on fair estimation; arbitrary profit rate rejected and income recomputed at 7 per cent.
May 23, 2026   Case Laws Income Tax
Discretionary penalty for foreign asset non-disclosure rejected where omission was bona fide and funds were fully disclosed.
May 23, 2026   Case Laws Income Tax
Tenancy rights surrender receipts remain capital in nature and cannot be taxed under other sources despite acquisition-cost disputes.
May 23, 2026   Case Laws Income Tax
Artificial volume and price rigging justified commission income estimation at 5%, restoring the assessment addition.
May 23, 2026   Case Laws Income Tax
Debatable deduction claim under section 80IB(10) could not justify penalty for inaccurate particulars.
May 23, 2026   Case Laws Income Tax
Depreciable asset gains remain long-term for tax-rate purposes while section 50 governs only computation and written down value
May 23, 2026   Case Laws Income Tax
Capital receipt treatment for settlement compensation: Tribunal excludes payment for giving up a right to sue from taxability.
May 23, 2026   Case Laws Customs
Food testing kits classification rejected as diagnostic kits exemption failed, extended limitation and penalties upheld.
May 23, 2026   Case Laws Customs
Misdeclaration and undervaluation in aluminium imports led to reclassification, partial duty demand, and selective penalty relief.
May 23, 2026   Case Laws Companies Law
Look Out Circular restraint after investigation must meet proportionality and concrete necessity before curbing travel abroad.
May 23, 2026   Case Laws IBC
IBC clean slate principle bars recovery of pre-CIRP electricity dues after resolution plan approval.
May 23, 2026   Case Laws IBC
Pre-existing dispute failed where emails and cheques acknowledged liability; insolvency admission followed despite a section 10A objection.

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Home › Highlights › Income Tax › 2024 › October, 2024 › This
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Income Tax

The crux revolves around the interpretation of Sections 10(10A)...

Tax Exemptions for MSEB Employees Upheld: Tribunal Affirms State Government Employee Status Under Income Tax Act Sections.

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Income Tax October 9, 2024 Case Laws AT
The crux revolves around the interpretation of Sections 10(10A) and 10(10AA) regarding exemptions for employees of the "State Government". The assessees claimed employer-employee relationship with the Maharashtra State Government by virtue of their employment with the erstwhile Maharashtra State Electricity Board (MSEB). The Revenue contested this claim. However, the Tribunal held that per Section 133 of the Electricity Act, the services of MSEB employees first vested in the State Government upon reorganization, before being transferred to the newly formed generation, transmission, and distribution companies. Crucially, Section 133(2) protected the service conditions of these employees. Since the assessees underwent this reorganization process culminating in their superannuation, they were deemed eligible for exemptions u/ss 10(10A) and 10(10AA) as employees of the "State Government" by virtue of the "grand-fathering" clause in Section 133. Consequently, the assessees' claims for exemptions were upheld.
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Acts Income Tax
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