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    May 14, 2026   Case LawsIncome Tax
    Section 80P deduction upheld for credit co-operative society's bank interest earned on liquidity and operational deposits.
    May 14, 2026   Case LawsIncome Tax
    Concessional corporate tax rate turns on prior-year turnover verification, with remand for examination of audited financials.
    May 14, 2026   Case LawsIncome Tax
    Genuineness of political donation claim under section 80-GGC failed on surrounding facts, so deduction was denied.
    May 14, 2026   Case LawsIncome Tax
    Defective penalty charge under section 270A and bona fide reliance on Form 16 justified deletion of penalty.
    May 14, 2026   Case LawsIncome Tax
    Reassessment notice validity and bogus purchase additions: ITAT upheld reopening, but remanded the purchase dispute for fresh verification.
    May 14, 2026   Case LawsIncome Tax
    Mandatory prior intimation under section 143(1)(a) is required before denying concessional tax treatment in return processing.
    May 14, 2026   Case LawsIncome Tax
    Search-linked reassessment and cross-examination requirements shape Section 68 scrutiny; reassessment upheld, additions remanded for fresh inquiry.
    May 14, 2026   Case LawsIncome Tax
    Valid issuance of reassessment notice must be proved within limitation; section 292BB cannot cure a jurisdictional defect.
    May 14, 2026   Case LawsIncome Tax
    Redevelopment flat exchange falls outside section 56(2)(x), so the deemed income addition was deleted in full.
    May 14, 2026   Case LawsIncome Tax
    Indirect transfer taxation: offshore share sale not taxable in India, so no withholding obligation arose under the then-prevailing law.
    May 14, 2026   Case LawsIncome Tax
    Appellate enhancement without procedure cannot introduce a new head of income after section 54F controversy is resolved.
    May 14, 2026   Case LawsIncome Tax
    Cash payment disallowance under section 40A(3) sustained where the assessee failed to prove the Rule 6DD exception.
    May 14, 2026   Case LawsIncome Tax
    Presumptive taxation and unexplained income: rice trading receipts taxed twice under section 69A were deleted, while unsupported salary claims failed.
    May 14, 2026   Case LawsIncome Tax
    Accumulation exemption under section 11(2) cannot be claimed twice, and unutilised funds become deemed income under section 11(3).
    May 14, 2026   Case LawsCustoms
    Unjust enrichment and refund of Extra Duty Deposit: loan-funded customs payment did not defeat refund, and delayed interest was payable.
    May 14, 2026   Case LawsCustoms
    Inconclusive laboratory testing prevented final customs classification, leading to remand for fresh testing on all relevant parameters.
    May 14, 2026   Case LawsCustoms
    Export drawback rules: unlocking mobile phones for overseas use is configuration, so misdeclaration, confiscation, and penalties fail.
    May 14, 2026   Case LawsIBC
    Certified copy requirement invalidates appeal institution when omitted, and delay condonation cannot cure the foundational defect.
    May 14, 2026   Case LawsIBC
    Court-process delay in uploading orders cannot prejudice compliance with service steps; dismissal for non-service was set aside.
    May 14, 2026   Case LawsFEMA
    Foreign exchange remittance for imports must be used or repatriated; third-party adjustments cannot cure FEMA contravention.
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    May 14, 2026   Case Laws Income Tax
    Section 80P deduction upheld for credit co-operative society's bank interest earned on liquidity and operational deposits.
    May 14, 2026   Case Laws Income Tax
    Concessional corporate tax rate turns on prior-year turnover verification, with remand for examination of audited financials.
    May 14, 2026   Case Laws Income Tax
    Genuineness of political donation claim under section 80-GGC failed on surrounding facts, so deduction was denied.
    May 14, 2026   Case Laws Income Tax
    Defective penalty charge under section 270A and bona fide reliance on Form 16 justified deletion of penalty.
    May 14, 2026   Case Laws Income Tax
    Reassessment notice validity and bogus purchase additions: ITAT upheld reopening, but remanded the purchase dispute for fresh verification.
    May 14, 2026   Case Laws Income Tax
    Mandatory prior intimation under section 143(1)(a) is required before denying concessional tax treatment in return processing.
    May 14, 2026   Case Laws Income Tax
    Search-linked reassessment and cross-examination requirements shape Section 68 scrutiny; reassessment upheld, additions remanded for fresh inquiry.
    May 14, 2026   Case Laws Income Tax
    Valid issuance of reassessment notice must be proved within limitation; section 292BB cannot cure a jurisdictional defect.
    May 14, 2026   Case Laws Income Tax
    Redevelopment flat exchange falls outside section 56(2)(x), so the deemed income addition was deleted in full.
    May 14, 2026   Case Laws Income Tax
    Indirect transfer taxation: offshore share sale not taxable in India, so no withholding obligation arose under the then-prevailing law.
    May 14, 2026   Case Laws Income Tax
    Appellate enhancement without procedure cannot introduce a new head of income after section 54F controversy is resolved.
    May 14, 2026   Case Laws Income Tax
    Cash payment disallowance under section 40A(3) sustained where the assessee failed to prove the Rule 6DD exception.
    May 14, 2026   Case Laws Income Tax
    Presumptive taxation and unexplained income: rice trading receipts taxed twice under section 69A were deleted, while unsupported salary claims failed.
    May 14, 2026   Case Laws Income Tax
    Accumulation exemption under section 11(2) cannot be claimed twice, and unutilised funds become deemed income under section 11(3).
    May 14, 2026   Case Laws Customs
    Unjust enrichment and refund of Extra Duty Deposit: loan-funded customs payment did not defeat refund, and delayed interest was payable.
    May 14, 2026   Case Laws Customs
    Inconclusive laboratory testing prevented final customs classification, leading to remand for fresh testing on all relevant parameters.
    May 14, 2026   Case Laws Customs
    Export drawback rules: unlocking mobile phones for overseas use is configuration, so misdeclaration, confiscation, and penalties fail.
    May 14, 2026   Case Laws IBC
    Certified copy requirement invalidates appeal institution when omitted, and delay condonation cannot cure the foundational defect.
    May 14, 2026   Case Laws IBC
    Court-process delay in uploading orders cannot prejudice compliance with service steps; dismissal for non-service was set aside.
    May 14, 2026   Case Laws FEMA
    Foreign exchange remittance for imports must be used or repatriated; third-party adjustments cannot cure FEMA contravention.

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      Income Tax

      Third-party search material and uncorroborated seized papers...

      Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estimates were sustained.

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      Income TaxApril 13, 2026Case LawsAT
      Third-party search material and uncorroborated seized papers could not sustain on-money or unaccounted purchase additions where the documents lacked a clear nexus to the assessees and the presumptions under sections 132(4A) and 292C remained rebuttable; those additions were deleted. An unsigned, unregistered agreement to sell and contradictory valuation reports were likewise insufficient to support protective and substantive property additions. By contrast, undisclosed rental income admitted in search was sustained in the absence of any evidence that it belonged to an HUF. Stock shortages supported a limited gross profit addition, and for unaccounted sales in the liquor business the profit element was restricted to 3%, with separate additions for alleged purchases deleted.
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