Stamp duty valuation of land or building held as stock-in-trade - Agreement-date valuation on prior non-cash receipt of consideration - Section 43CA agreement - Non-cash receipt of part consideration before agreement Stamp duty value for computation of business profits on sale of a duplex flat by a builder, where the sale agreement and registered sale deed were executed on different dates and part consideration had been received through banking channels before the agreement - HELD THAT: - Whe... ... ...

Revision of assessment on an erroneous and prejudicial order - Interest disallowance for short deduction of tax at source HELD THAT: - Following the jurisdictional High Court precedent FUTURE FIRST INFO. SERVICES PVT. LTD. [2022 (7) TMI 748 - DELHI HIGH COURT] the Tribunal held that where tax has been deducted, though allegedly at a lower rate, disallowance of the payment cannot be made under section 40(a)(i). The statutory recourse for a shortfall in deduction is proceedings under section 20... ... ...

Supervisory permanent establishment under India-Japan DTAA - Taxability of offshore supplies completed outside India - Seconded-employee salary reimbursement - No estoppel against statute Supervisory permanent establishment - Project-wise duration test - Existence of a Supervisory Permanent Establishment in respect of supervisory services rendered to Indian customers, including an automobile dealer - HELD THAT: - Article 5(4) requires cumulatively that supervisory activities in India exceed s... ... ...

Unexplained election expenditure - corroboration of seized notebook entries - Statutory presumption regarding seized documents - Year of assessability of election-campaign expenditure Unexplained election expenditure - corroboration of seized notebook entries - Statutory presumption regarding seized documents - Attribution to the assessee of alleged election expenditure reflected in a notebook seized from commission-agent business premises - HELD THAT: - The notebook neither named nor otherwi... ... ...

Application of charitable income for scholarships to Indian students pursuing overseas education - Scope of inquiry at registration of charitable institutions Application of charitable income outside India - Scholarships to Indian students for overseas education - Scholarships disbursed in India in Indian currency to Indian students for higher education abroad as application of income outside India and as activity beyond the trust's educational objects - HELD THAT: - The scholarship amoun... ... ...

Rectification of final assessment order for non-implementation of DRP directions - Permanent establishment of non-resident through Indian subsidiary - Reimbursement of costs as fees for included services under India-USA DTAA Rectification of final assessment order for non-implementation of DRP directions - Validity of rectification of the final assessment order which inadvertently omitted to give effect to the DRP's directions - HELD THAT: - The directions of the DRP are binding and the f... ... ...

Subsequent statutory amendment to the proviso to Section 147A - Validity of the Tribunal's order for assessment year 2016-2017 in the light of the subsequent amendment to the proviso to Section 147A HELD THAT: - The Tribunal's order preceded the amendment, which had not even been placed before Parliament when the Tribunal decided the matter. The Tribunal had applied the legal position then governed by jurisdictional High Court decisions; its finding could therefore not be held contrar... ... ...

Section 14A and Rule 8D disallowance where exempt-income investments are from own funds - HELD THAT: - Following the earlier decision on identical questions [2026 (6) TMI 611 - MADRAS HIGH COURT] the Court held that, where the financials established availability of sufficient surplus funds and the investments were not made from interest-bearing borrowings, no expenditure could be disallowed or estimated on a proportionate basis for earning the exempt income. [Paras 3, 4] The questions were... ... ...

Limitation for correction of TDS statements - Employer's default in remitting TDS - Employee's protection from employer's TDS default Limitation for correction of TDS statements - Non-filing of TDS returns - Applicability of the limitation for amendment of TDS statements where the employer had not filed an original statement or return - HELD THAT: - The prescribed time limit for amendment or correction of a TDS statement could not justify refusal to file an original TDS statement ... ... ...

Recovery of disputed tax demand pending first appeal - Reasoned departure from CBDT 20% recovery norm - Refund adjustment exceeding CBDT 20% recovery norm HELD THAT: - The CBDT instructions prescribe recovery of 20% of the disputed demand as the ordinary condition for stay during the first appeal. Departure is permissible only for recorded reasons, including lack of prima facie sustainability of the assessee's case or exceptional circumstances. As the stay order itself recorded recovery e... ... ...

Sanction by specified authority for reassessment beyond three years - Validity of reassessment proceedings for A.Y. 2017-18 where sanction, after expiry of three years from the end of the assessment year, was granted by the Principal Commissioner instead of the authority specified for such cases HELD THAT: - Under the amended reassessment regime, where more than three years have elapsed from the end of the relevant assessment year, sanction must be granted by the higher specified authority un... ... ...

Computation of limitation where the prescribed last day is a holiday - Mandatory Dispute Resolution Panel procedure Timeliness of the assessee's objection to the Dispute Resolution Panel where the thirtieth day fell on a Sunday, and the validity of final assessment made without the Panel's directions - HELD THAT: - Where the last day of the statutory period for filing objections fell on a Sunday, the objection filed on the next working day was deemed to have been filed within time und... ... ...

Principles of natural justice in reassessment proceedings - Non Adequate opportunity to respond to a post-notice information request Validity of the order under section 148A(3) and the consequential notice under section 148 where the petitioner was not afforded adequate opportunity to respond to the information sought by the Revenue - HELD THAT: - The Court found that the petitioner had not been given an adequate opportunity to respond to the Revenue's request for information. The resulti... ... ...

Jurisdictional facts for reassessment following search - Interim stay of reassessment proceedings concerning cash disclosed by the petitioner as cash sales HELD THAT: - Although, for the relevant assessment year, a notice under the reassessment provision could be issued following a search without recourse to the earlier search-assessment procedure or the preliminary procedure otherwise applicable, the Court noted that the seized cash had been disclosed by the petitioner in its return and its ... ... ...

Review jurisdiction - discovery of new evidence and due diligence Review of the dismissal of the assessee's appeal concerning an unexplained bank credit on the basis of purportedly new sale deeds and a Tribunal order - HELD THAT: - Discovery of new evidence can support review only where the applicant establishes that, despite due diligence, it was not within knowledge or could not have been produced earlier. In Malleeswari [2025 (9) TMI 1806 - SUPREME COURT] the Supreme Court summarize... ... ...

Stay of disputed income-tax demand - reasoned exercise of discretion Rejection of the application for stay of recovery of disputed income-tax demand solely on pendency of appeal and non-payment of the prescribed percentage of demand - HELD THAT: - A stay application could not be rejected mechanically by merely referring to the pending appeal, absence of a stay order and non-payment under the applicable circular. The authority was required to record consideration of the merits relevant to gran... ... ...

Turnover of zero-rated supply for export refund - Net input tax credit for export refund Turnover of zero-rated supply for export refund - Export invoices issued during relevant period - Inclusion in turnover of zero-rated supply of invoices issued during the relevant period where the goods were exported thereafter - HELD THAT: - For refund under rule 89(4), Net ITC, turnover of zero-rated supply and adjusted total turnover must relate to the same relevant period. In an export supply involvin... ... ...

Reasoned and speaking orders in appellate tax adjudication - Consideration of material grounds of appeal Validity of appellate orders affirming GST demands without adjudicating the material grounds and precedents raised, and the remedial course where the original adjudication was ex parte - HELD THAT: - Recording reasons is indispensable to fair quasi-judicial decision-making. The appellate authority merely held that satisfactory evidence had not been produced and confirmed the original order... ... ...

Input tax credit on supplies from retrospectively cancelled supplier - Transaction-specific proof of input tax credit ineligibility Admissibility of limited input tax credit on invoices issued by a supplier whose registration was retrospectively cancelled, after considering subsequent amendments in the GST records - HELD THAT: - The statutory conditions for input tax credit had to be examined with reference to the facts and evidence concerning the particular transactions. Retrospective cancel... ... ...

Additional court fees on GST first appeals under State law - Liability to pay additional court fees on a GST first appeal filed before the Kerala State appellate authority HELD THAT: - The levy of additional court fees on GST first appeals before State authorities stood settled by the Kerala High Court in AKAY FLAVOURS AND AROMATICS PVT LTD [2020 (8) TMI 208 - KERALA HIGH COURT] before the filing of the appeal. Although the statutory appeal provision specifies the pre-deposit required for fil... ... ...