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    August 6, 2026   Case Laws Income Tax
    Corroboration of seized loose sheets is essential; unsupported fee additions and extrapolations cannot survive factual scrutiny.
    August 6, 2026   Case Laws Income Tax
    Reassessment on suspicious transaction reports fails where partner capital withdrawals lack material showing income escapement or bogus entries.
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    August 6, 2026   Case Laws Income Tax
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    August 6, 2026   Case Laws Customs
    Related-party customs valuation requires deductive redetermination where undisclosed funding discounts undermine the declared transaction value.
    August 6, 2026   Case Laws IBC
    Moratorium asset restoration permits consequential directions to replenish the insolvency estate despite no finding of fraudulent trading.
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August 6, 2026   Case Laws Income Tax
Corroboration of seized loose sheets is essential; unsupported fee additions and extrapolations cannot survive factual scrutiny.
August 6, 2026   Case Laws Income Tax
Reassessment on suspicious transaction reports fails where partner capital withdrawals lack material showing income escapement or bogus entries.
August 6, 2026   Case Laws Income Tax
Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amendment.
August 6, 2026   Case Laws Income Tax
Unauthorised supervisory approval vitiates a survey-based assessment by undermining the Assessing Officer's independent quasi-judicial discretion.
August 6, 2026   Case Laws Income Tax
Depreciation option claims with full disclosure and bona fide revision do not establish inaccurate income particulars for penalty.
August 6, 2026   Case Laws Income Tax
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability governs software service margins.
August 6, 2026   Case Laws Income Tax
Asset-based escaped-income satisfaction is mandatory for extended Section 153C jurisdiction; a cash-transaction note alone invalidates the assessment.
August 6, 2026   Case Laws Income Tax
Arm's length pricing for corporate guarantees and foreign-currency receivables applies a reduced commission, LIBOR benchmark, and credit period.
August 6, 2026   Case Laws Income Tax
Agricultural land character at transfer determines capital-gains treatment despite purchaser obtaining later non-agricultural-use permission.
August 6, 2026   Case Laws Income Tax
Accommodation-entry interest is disallowed, but tax withholding is excluded and unsupported estimated commission additions fail.
August 6, 2026   Case Laws Income Tax
Transitional reassessment limitation preserves the old regime's time bar, invalidating notices issued after the applicable period expired.
August 6, 2026   Case Laws Income Tax
Deemed annual value of completed unsold developer units must use municipal rateable value, subject to verified purchaser-advance exclusions.
August 6, 2026   Case Laws Income Tax
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exemption treatment.
August 6, 2026   Case Laws Benami Property
Benami share attachment upheld on traced funding and control, while unlisted demat shares required release to their rightful owner.
August 6, 2026   Case Laws Customs
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods.
August 6, 2026   Case Laws Customs
SAFTA certificate of origin benefit survived compelled relinquishment, invalidating reassessment, duty demand, confiscation and penalties for imported ship-breaking material.
August 6, 2026   Case Laws Customs
Social Welfare Surcharge follows aggregate customs duty payable, making it inapplicable where MEIS or SEIS exemptions reduce duty to nil.
August 6, 2026   Case Laws Customs
Transaction value follows the renegotiated price actually paid by an unrelated subsequent importer after the original consignee defaults.
August 6, 2026   Case Laws Customs
Related-party customs valuation requires deductive redetermination where undisclosed funding discounts undermine the declared transaction value.
August 6, 2026   Case Laws IBC
Moratorium asset restoration permits consequential directions to replenish the insolvency estate despite no finding of fraudulent trading.

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Income Tax

A reassessment notice issued beyond three years from the end of...

Invalid reassessment sanction beyond three years vitiates notice and assessment where approval is taken from the wrong authority.

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Income Tax May 2, 2026 Case Laws AT
A reassessment notice issued beyond three years from the end of the relevant assessment year required prior approval from the higher authority specified under section 151(ii), not the Principal Commissioner. As the sanction was obtained from an incompetent authority, the approval was invalid and contrary to law. The Tribunal treated this defect as fatal and quashed both the reassessment notice and the consequential assessment order.
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Acts Income Tax
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