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    May 11, 2026   Case Laws Income Tax
    Substantive compliance for section 115BAA allowed; procedural delay in filing Form No. 10-IC could not defeat the concessional regime.
    May 11, 2026   Case Laws Income Tax
    Reassessment cannot rest on material already examined; reopening on the same interest income mismatch was quashed for lack of fresh information.
    May 11, 2026   Case Laws Income Tax
    Bona fide belief on capital gains treatment constituted reasonable cause, so audit penalty was deleted.
    May 11, 2026   Case Laws Income Tax
    Commercial expediency justified medical reimbursement to a key employee-director, making the company's expense deductible.
    May 11, 2026   Case Laws Income Tax
    Penalty limitation under section 275(1)(c): ITAT held time runs from the Assessing Officer's reference, quashing the penalty.
    May 11, 2026   Case Laws Income Tax
    Treaty-rate relief for dividend distribution tax and allowance of corporate club membership as business expenditure
    May 11, 2026   Case Laws Income Tax
    Depreciation on goodwill allowed where the amendment excluding goodwill was held prospective and inapplicable to the year in question.
    May 11, 2026   Case Laws Income Tax
    Binding interim judicial directions protected the assessee from TDS default and consequential interest on leave travel concession payments.
    May 11, 2026   Case Laws Income Tax
    Consequential penalty under section 271(1)(c) fails when the underlying quantum addition has already been deleted.
    May 11, 2026   Case Laws Income Tax
    Charitable exemption sustained where royalty and sponsorship receipts were held incidental to sports promotion, not business activity.
    May 11, 2026   Case Laws Income Tax
    Reassessment jurisdiction fails when the recorded reason is not sustained and a different disallowance is added instead.
    May 11, 2026   Case Laws Income Tax
    Forex loss on FCCBs treated as revenue, but delayed PF and ESI employee contributions remained disallowable.
    May 11, 2026   Case Laws Income Tax
    Revocable securitisation trust treatment upheld, with income taxable in beneficiaries' hands and not in the trust's own assessment.
    May 11, 2026   Case Laws Benami Property
    Benami transaction bar and retrospective procedural amendment upheld, with narrow fiduciary exception and succession disqualification applied.
    May 11, 2026   Case Laws Customs
    Self-assessed Bill of Entry finality bars late short-shipment claims and refund-based reopening of assessment.
    May 11, 2026   Case Laws Customs
    Advance ruling barred by binding precedent where roasted areca nuts classification had already been settled by the High Court.
    May 11, 2026   Case Laws Money Laundering
    ECIR under PML Act is not automatic on a predicate offence; enforcement satisfaction must be independently recorded.
    May 11, 2026   Case Laws Money Laundering
    Continuing money-laundering and proceeds-of-crime attachment upheld despite pre-2009 acquisition and third-party ownership claims
    May 11, 2026   Case Laws Money Laundering
    Provisional attachment and equivalent value seizure upheld under money-laundering law, despite interim relief in the predicate case.
    May 11, 2026   Case Laws Service Tax
    SEZ subcontracted services qualify for exemption, while non-SEZ tax demands, interest and fresh credit verification were sustained
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May 11, 2026   Case Laws Income Tax
Substantive compliance for section 115BAA allowed; procedural delay in filing Form No. 10-IC could not defeat the concessional regime.
May 11, 2026   Case Laws Income Tax
Reassessment cannot rest on material already examined; reopening on the same interest income mismatch was quashed for lack of fresh information.
May 11, 2026   Case Laws Income Tax
Bona fide belief on capital gains treatment constituted reasonable cause, so audit penalty was deleted.
May 11, 2026   Case Laws Income Tax
Commercial expediency justified medical reimbursement to a key employee-director, making the company's expense deductible.
May 11, 2026   Case Laws Income Tax
Penalty limitation under section 275(1)(c): ITAT held time runs from the Assessing Officer's reference, quashing the penalty.
May 11, 2026   Case Laws Income Tax
Treaty-rate relief for dividend distribution tax and allowance of corporate club membership as business expenditure
May 11, 2026   Case Laws Income Tax
Depreciation on goodwill allowed where the amendment excluding goodwill was held prospective and inapplicable to the year in question.
May 11, 2026   Case Laws Income Tax
Binding interim judicial directions protected the assessee from TDS default and consequential interest on leave travel concession payments.
May 11, 2026   Case Laws Income Tax
Consequential penalty under section 271(1)(c) fails when the underlying quantum addition has already been deleted.
May 11, 2026   Case Laws Income Tax
Charitable exemption sustained where royalty and sponsorship receipts were held incidental to sports promotion, not business activity.
May 11, 2026   Case Laws Income Tax
Reassessment jurisdiction fails when the recorded reason is not sustained and a different disallowance is added instead.
May 11, 2026   Case Laws Income Tax
Forex loss on FCCBs treated as revenue, but delayed PF and ESI employee contributions remained disallowable.
May 11, 2026   Case Laws Income Tax
Revocable securitisation trust treatment upheld, with income taxable in beneficiaries' hands and not in the trust's own assessment.
May 11, 2026   Case Laws Benami Property
Benami transaction bar and retrospective procedural amendment upheld, with narrow fiduciary exception and succession disqualification applied.
May 11, 2026   Case Laws Customs
Self-assessed Bill of Entry finality bars late short-shipment claims and refund-based reopening of assessment.
May 11, 2026   Case Laws Customs
Advance ruling barred by binding precedent where roasted areca nuts classification had already been settled by the High Court.
May 11, 2026   Case Laws Money Laundering
ECIR under PML Act is not automatic on a predicate offence; enforcement satisfaction must be independently recorded.
May 11, 2026   Case Laws Money Laundering
Continuing money-laundering and proceeds-of-crime attachment upheld despite pre-2009 acquisition and third-party ownership claims
May 11, 2026   Case Laws Money Laundering
Provisional attachment and equivalent value seizure upheld under money-laundering law, despite interim relief in the predicate case.
May 11, 2026   Case Laws Service Tax
SEZ subcontracted services qualify for exemption, while non-SEZ tax demands, interest and fresh credit verification were sustained

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Income Tax

Section 80IB deduction denied due to non-completion of project...

Tax Deduction Denied for Project Delay and Size; Case Remanded for Compliance Check on Commercial Area Limits.

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Income Tax November 26, 2024 Case Laws AT
Section 80IB deduction denied due to non-completion of project within stipulated period u/s 80IB(10) by 31.03.2008 and commercial construction exceeding limit under clause (d). Amendment via Finance Act 2004 from 01.04.2005 imposed new conditions for deduction for projects approved and commenced prior to 01.04.2005. Condition restricting commercial space is impossible if project at advanced stage per approved plan, but completion timeline reasonable with over three years allowed post amendment. Projects approved after 01.04.2005 also have four-year completion period. Issue of completion certificate requirement sub-judice before Supreme Court, remanded for fresh adjudication as per provisions at project approval, subject to judgments. Commercial area exceeding prescribed limit allowed if approved by local authority, verified against sanction plan. Matter remanded to assess commercial area conformity with approved plan. Appeals allowed for statistical purposes.
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