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    March 21, 2026   Case LawsIncome Tax
    Mandatory time limit under Section 144C(13) invalidates assessments made after the prescribed period, rendering draft demand unenforceable.
    March 21, 2026   Case LawsIncome Tax
    Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
    March 21, 2026   Case LawsIncome Tax
    Benefit to Specified Persons must be proven; higher margins alone do not show diversion and consistency prevails.
    March 21, 2026   Case LawsIncome Tax
    Double taxation prevention: capital gains not re-taxed in earlier year if same consideration was already taxed later.
    March 21, 2026   Case LawsIncome Tax
    Expense apportionment: matching recovery treated as business income negates disallowance, Tribunal deleted additions for power fuel and maintenance
    March 21, 2026   Case LawsIncome Tax
    Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
    March 21, 2026   Case LawsIncome Tax
    Transfer Pricing on intra-group steam: adjustment deleted; REC treated as capital receipts; enhanced deduction remitted for verification.
    March 21, 2026   Case LawsIncome Tax
    Deemed nullity of income declaration permits addition as unexplained investment, but tax on that addition computed at 30% not 60%.
    March 21, 2026   Case LawsIncome Tax
    Natural justice breach: denial of cross-examination on third-party seized material led to deletion of additions under s.69B.
    March 21, 2026   Case LawsIncome Tax
    Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
    March 21, 2026   Case LawsIncome Tax
    Working partner remuneration limits upheld where deed adopts statutory book profit definition; payments within statutory limits allowed.
    March 21, 2026   Case LawsIncome Tax
    Exemption for Urban Local Body affirmed where Revenue dropped reassessment and assessed income was deleted accordingly.
    March 21, 2026   Case LawsIncome Tax
    Agricultural land classification: land beyond municipal limits is not a capital asset; reassessment vitiated by lack of natural justice.
    March 21, 2026   Case LawsCustoms
    Extraordinary writ jurisdiction declined and limitation/time-bar plea directed to adjudicating authority for decision under law.
    March 21, 2026   Case LawsCustoms
    Beneficial Construction of Retrospective Amendment: substitution correcting an omission entitled importer to exemption and quashed contrary orders.
    March 21, 2026   Case LawsCustoms
    SAFTA exemption entitlement can be claimed belatedly if eligibility is established, and provisional assessments must be reopened for consideration.
    March 21, 2026   Case LawsCustoms
    Due Diligence: Broker KYC met regulatory standard, revocation set aside and licence restored after hearsay and covert survey evidence rejected.
    March 21, 2026   Case LawsCustoms
    Classification based exemption where documentary evidence and Out of Charge exists leads to BCD and SWS demands being set aside.
    March 21, 2026   Case LawsCustoms
    Actual-User and Non-Transferability: failure to prove compliance sustained demand and confiscation; procedural defect set aside penalty.
    March 21, 2026   Case LawsCustoms
    Suitability-for-use test confirms DVRs engineered for Hawk aircraft are parts of aircraft, not general video apparatus.
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    March 21, 2026   Case Laws Income Tax
    Mandatory time limit under Section 144C(13) invalidates assessments made after the prescribed period, rendering draft demand unenforceable.
    March 21, 2026   Case Laws Income Tax
    Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as a valid return.
    March 21, 2026   Case Laws Income Tax
    Benefit to Specified Persons must be proven; higher margins alone do not show diversion and consistency prevails.
    March 21, 2026   Case Laws Income Tax
    Double taxation prevention: capital gains not re-taxed in earlier year if same consideration was already taxed later.
    March 21, 2026   Case Laws Income Tax
    Expense apportionment: matching recovery treated as business income negates disallowance, Tribunal deleted additions for power fuel and maintenance
    March 21, 2026   Case Laws Income Tax
    Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh assessment.
    March 21, 2026   Case Laws Income Tax
    Transfer Pricing on intra-group steam: adjustment deleted; REC treated as capital receipts; enhanced deduction remitted for verification.
    March 21, 2026   Case Laws Income Tax
    Deemed nullity of income declaration permits addition as unexplained investment, but tax on that addition computed at 30% not 60%.
    March 21, 2026   Case Laws Income Tax
    Natural justice breach: denial of cross-examination on third-party seized material led to deletion of additions under s.69B.
    March 21, 2026   Case Laws Income Tax
    Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification.
    March 21, 2026   Case Laws Income Tax
    Working partner remuneration limits upheld where deed adopts statutory book profit definition; payments within statutory limits allowed.
    March 21, 2026   Case Laws Income Tax
    Exemption for Urban Local Body affirmed where Revenue dropped reassessment and assessed income was deleted accordingly.
    March 21, 2026   Case Laws Income Tax
    Agricultural land classification: land beyond municipal limits is not a capital asset; reassessment vitiated by lack of natural justice.
    March 21, 2026   Case Laws Customs
    Extraordinary writ jurisdiction declined and limitation/time-bar plea directed to adjudicating authority for decision under law.
    March 21, 2026   Case Laws Customs
    Beneficial Construction of Retrospective Amendment: substitution correcting an omission entitled importer to exemption and quashed contrary orders.
    March 21, 2026   Case Laws Customs
    SAFTA exemption entitlement can be claimed belatedly if eligibility is established, and provisional assessments must be reopened for consideration.
    March 21, 2026   Case Laws Customs
    Due Diligence: Broker KYC met regulatory standard, revocation set aside and licence restored after hearsay and covert survey evidence rejected.
    March 21, 2026   Case Laws Customs
    Classification based exemption where documentary evidence and Out of Charge exists leads to BCD and SWS demands being set aside.
    March 21, 2026   Case Laws Customs
    Actual-User and Non-Transferability: failure to prove compliance sustained demand and confiscation; procedural defect set aside penalty.
    March 21, 2026   Case Laws Customs
    Suitability-for-use test confirms DVRs engineered for Hawk aircraft are parts of aircraft, not general video apparatus.

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      Home› Highlights › Income Tax › 2026 › March, 2026 › This
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      Income Tax

      For valid reassessment the assessing officer must record a...

      Reopening of assessment requires objective material with a live nexus to escapement; mere borrowed information or fund rotation is insufficient.

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      Income TaxMarch 18, 2026Case LawsAT
      For valid reassessment the assessing officer must record a belief based on objective, specific and reliable material that has a live nexus to escapement of income; reliance on unverified information from an investigation unit or on borrowed satisfaction reduces belief to mere suspicion and invalidates reopening. Independent application of mind and preliminary enquiries are required before issuing notices under reassessment provisions. Separately, mere inter company fund rotations and receipt of share application money do not automatically constitute taxable income or unexplained credits where documentary support (investors' financials, ITRs, bank statements, confirmations) shows capital receipts; treating such transactions as unexplained under the unexplained credit principle is unsustainable.
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