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    March 9, 2026   Case LawsIncome Tax
    Certificate under Section 197 operates for entire assessment year, preventing deductor being treated as assessee in default.
    March 9, 2026   Case LawsIncome Tax
    Jurisdictional limitation: AO cannot use seized material obtained after set-aside to complete the regular assessment.
    March 9, 2026   Case LawsIncome Tax
    Disallowance for exempt income adjustments reversed, with TDS, software, ESOP and TNMM comparability rulings affirmed accordingly.
    March 9, 2026   Case LawsIncome Tax
    Goodwill Amortisation as Extraordinary Item: adjust PLI under TNMM on remand; penalty initiation found premature.
    March 9, 2026   Case LawsIncome Tax
    Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
    March 9, 2026   Case LawsIncome Tax
    Sanction for Reassessment invalid when granted by an incompetent authority; resulting notices and reassessment quashed.
    March 9, 2026   Case LawsIncome Tax
    Vague Show Cause Notice invalidated; penalty deleted because absence of specified notices denied a proper opportunity to be heard.
    March 9, 2026   Case LawsIncome Tax
    Deemed date of search treated as notice date, making assessment for an earlier year time barred and quashed.
    March 9, 2026   Case LawsIncome Tax
    Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
    March 9, 2026   Case LawsIncome Tax
    Limitation under Section 144C read with Section 153: final assessment quashed as time barred; revival possible after Supreme Court ruling.
    March 9, 2026   Case LawsIncome Tax
    Deductibility of provision for standard assets upheld, revisional proceedings quashed and assessment restored in favour of the assessee.
    March 9, 2026   Case LawsIncome Tax
    Limitation under section 144C: final assessment orders found time barred and quashed when read with section 153.
    March 9, 2026   Case LawsIncome Tax
    Revisional power under section 263 cannot be invoked where the Assessing Officer made enquiries and adopted a plausible view.
    March 9, 2026   Case LawsIncome Tax
    Income from House Property: licence fees treated as rent and must not be subjected to a fresh addition; AO to verify computation.
    March 9, 2026   Case LawsIncome Tax
    Crystallisation of liability: business expenses deductible in the year liability arises even if paid later, given business purpose.
    March 9, 2026   Case LawsIBC
    Estoppel by acceptance of payment bars belated challenges to approved resolution plans; statutory employee dues treatment upheld.
    March 9, 2026   Case LawsIBC
    Financial debt from commercial-effect funding: repayment plus profit share treated as borrowing, enabling CIRP admission when default exists.
    March 9, 2026   Case LawsMoney Laundering
    Provisional Attachment of proceeds upheld: earnings from promoting illicit deposit schemes treated as proceeds and recipient assets attachable.
    March 9, 2026   Case LawsMoney Laundering
    Prima facie money laundering found; provisional attachment upheld but limited to quantifiable illicit proceeds, not full contract value.
    March 9, 2026   Case LawsIndian Laws
    Finality of higher-court orders prevents lower-court actions that prejudice beneficiaries; non-parties retain remedies to challenge effects.
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    March 9, 2026   Case Laws Income Tax
    Certificate under Section 197 operates for entire assessment year, preventing deductor being treated as assessee in default.
    March 9, 2026   Case Laws Income Tax
    Jurisdictional limitation: AO cannot use seized material obtained after set-aside to complete the regular assessment.
    March 9, 2026   Case Laws Income Tax
    Disallowance for exempt income adjustments reversed, with TDS, software, ESOP and TNMM comparability rulings affirmed accordingly.
    March 9, 2026   Case Laws Income Tax
    Goodwill Amortisation as Extraordinary Item: adjust PLI under TNMM on remand; penalty initiation found premature.
    March 9, 2026   Case Laws Income Tax
    Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for deduction.
    March 9, 2026   Case Laws Income Tax
    Sanction for Reassessment invalid when granted by an incompetent authority; resulting notices and reassessment quashed.
    March 9, 2026   Case Laws Income Tax
    Vague Show Cause Notice invalidated; penalty deleted because absence of specified notices denied a proper opportunity to be heard.
    March 9, 2026   Case Laws Income Tax
    Deemed date of search treated as notice date, making assessment for an earlier year time barred and quashed.
    March 9, 2026   Case Laws Income Tax
    Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the threshold.
    March 9, 2026   Case Laws Income Tax
    Limitation under Section 144C read with Section 153: final assessment quashed as time barred; revival possible after Supreme Court ruling.
    March 9, 2026   Case Laws Income Tax
    Deductibility of provision for standard assets upheld, revisional proceedings quashed and assessment restored in favour of the assessee.
    March 9, 2026   Case Laws Income Tax
    Limitation under section 144C: final assessment orders found time barred and quashed when read with section 153.
    March 9, 2026   Case Laws Income Tax
    Revisional power under section 263 cannot be invoked where the Assessing Officer made enquiries and adopted a plausible view.
    March 9, 2026   Case Laws Income Tax
    Income from House Property: licence fees treated as rent and must not be subjected to a fresh addition; AO to verify computation.
    March 9, 2026   Case Laws Income Tax
    Crystallisation of liability: business expenses deductible in the year liability arises even if paid later, given business purpose.
    March 9, 2026   Case Laws IBC
    Estoppel by acceptance of payment bars belated challenges to approved resolution plans; statutory employee dues treatment upheld.
    March 9, 2026   Case Laws IBC
    Financial debt from commercial-effect funding: repayment plus profit share treated as borrowing, enabling CIRP admission when default exists.
    March 9, 2026   Case Laws Money Laundering
    Provisional Attachment of proceeds upheld: earnings from promoting illicit deposit schemes treated as proceeds and recipient assets attachable.
    March 9, 2026   Case Laws Money Laundering
    Prima facie money laundering found; provisional attachment upheld but limited to quantifiable illicit proceeds, not full contract value.
    March 9, 2026   Case Laws Indian Laws
    Finality of higher-court orders prevents lower-court actions that prejudice beneficiaries; non-parties retain remedies to challenge effects.

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      Income Tax

      Commission income earned for collecting bills, dues and charges...

      Deduction under section 80P(2)(a)(i) for commission income treated as banking activity, entitlement affirmed and claim allowed.

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      Income TaxMarch 12, 2026Case LawsAT
      Commission income earned for collecting bills, dues and charges on behalf of a public utility is treated as akin to banking activity and, being incidental to the society's main objects, qualifies for the cooperative-society deduction under the relevant 80P provision; accordingly the claim for deduction in respect of commission received from the public utility was allowed and the appeal permitted. The note emphasises applicability of prior Tribunal precedent equating collection-of-dues activity with banking activity as determinative of entitlement.
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