Penalty u/s 271AAB - specification of applicable statutory limb in show-cause notice - Failure to specify applicable penalty limb HELD THAT: - The Assessing Officer issued notices referring to different provisions of section 271AAB but did not specify the applicable limb or the conditions attracting penalty. Following the co-ordinate Bench decision [2026 (10) TMI 263 - ITAT DELHI] the Tribunal held that clear specification of the precise statutory limb is mandatory and that its omission vi... ... ...

Customer-referral commission as fees for technical services - Make available requirement under the India-Netherlands tax treaty Taxability of commission earned for referring prospective customers to an Indian group company as fees for technical services under the India-Netherlands tax treaty and the Act - HELD THAT: - Article 12(5)(b) requires the rendering of technical or consultancy services and that such services make available technical knowledge, experience, skill, know-how or processes,... ... ...

Characterisation of gains from sale of shares and securities as capital gains or business income - Withholding tax on import purchases from a non-resident associated enterprise - Section 14A disallowance-recording of satisfaction before application of Rule 8D Characterisation of gains from sale of shares and securities as capital gains or business income - HELD THAT: - The Tribunal found the facts exactly identical to those in the assessee's own cases for later assessment years. As no fac... ... ...

Recovery of disputed tax demand pending appeal - effect of no stay petition - Mere filing of appeal does not stay recovery of tax demand - Stay petition for disputed tax demand Entitlement to refund of recovery made from the disputed tax demand during pendency of the first appeal, where no stay petition had been filed - HELD THAT: - The CBDT instructions make clear that filing an appeal does not by itself stay recovery; a stay is available only upon valid reasons and requires the assessee to ... ... ...

Capital gain computation - execution of the joint development agreement constituted a taxable transfer u/s 2(47)(ii), (v) and (vi) of IT Act read with Section 53A of the Transfer of Property Act, 1882 HELD THAT:- The appeal was disposed of in terms of the earlier decision C.S. Atwal [2015 (7) TMI 878 - PUNJAB & HARYANA HIGH COURT] governing the identical controversy arising from the same joint development agreement.... ... ...

Turnover filter in transfer-pricing comparability analysis - Upper turnover filter for software development comparables Validity of applying an upper turnover filter of Rs. 200 crore for selecting comparables in the software development segment - HELD THAT: - The Court treated the sole question pressed by the Revenue as covered in favour of the assessee by the decision in Sap Labs India Private Limited vs. The Income Tax Officer [2026 (9) TMI 711 - KARNATAKA HIGH COURT]. [Paras 7, 8] The R... ... ...

Interest disallowance in relation to exempt income - Netting of interest under Rule 8D(2)(ii) Disallowance of interest expenditure under section 14A read with Rule 8D(2)(ii) where borrowings were advanced in a back-to-back transaction generating interest income - HELD THAT: - Rule 8D(2)(ii) concerns interest expenditure not directly attributable to a particular income or receipt. The concurrent findings established that the borrowed funds were advanced in a back-to-back transaction and the co... ... ...

Reassessment - prior separate speaking order on objections to reopening Validity of reassessments for alleged bogus purchases where objections to reopening were dealt with only in the reassessment orders - HELD THAT: - The mandatory procedure for reopening requires the Assessing Officer to dispose of the assessee's objections by a separate speaking order, communicated before reassessment proceeds. Addressing the objections only within the reassessment order is not compliance and renders t... ... ...

Transfer pricing of delayed foreign-currency receivables - Arm's length interest rate - Determination of prevailing interest rate Determination of the arm's length interest rate on delayed receivables from associated enterprises denominated in foreign currency - HELD THAT: - The appropriate interest rate for delayed foreign-currency receivables is a factual determination dependent on prevailing interest rates. As the receivables were denominated in foreign currency, the applicable for... ... ...

Limitation for notices under sections 153A and 153C Validity of the notice under section 153C for AY 2012-13, founded on a satisfaction note recorded in AY 2025-26, on the ground of limitation - HELD THAT: - As the satisfaction note was recorded in AY 2025-26, the applicable ten-year period, calculated backwards, extended only up to AY 2016-17. The notice for AY 2012-13 was therefore beyond the prescribed period under sections 153A and 153C. See OJJUS MEDICARE PVT. LTD. AND OTHERS [2024 (4) T... ... ...

Tax payable threshold in prosecution for non-filing of return - prosecution for failure to furnish a return under Section 276CC Wilful failure to furnish return and statutory presumption of culpable mental state Prosecution for failure to furnish the return where the complaint neither established nor alleged tax payable by the assessee and the assessee claimed a refund - HELD THAT: - The statutory exception makes the tax payable material to prosecution for failure to furnish a return. Though... ... ...

Administrative transfer of appeals between Income-tax Appellate Tribunal Benches - Territorial jurisdiction of Income-tax Appellate Tribunal Benches Maintainability of income-tax appeals before the Delhi Bench after their administrative transfer from the Lucknow Bench - HELD THAT: - Although the situs of the assessees' business and of the Assessing Officer would ordinarily support hearing at Lucknow, the Court applied its earlier ruling in the same group matters that a Tribunal Bench cann... ... ...

Prior administrative representation - Cancellation of duplicate PAN - Prescription of a timeframe for deciding applications for cancellation or surrender of duplicate PANs without a prior representation to the CBDT HELD THAT: - Since the petitioner had not submitted a representation to the CBDT setting out the grounds for prescribing a timeframe, the grievance was considered more appropriately addressable by the CBDT in the first instance. [Paras 11, 13] The petitioner was granted liberty ... ... ...

Depreciation on goodwill as intangible asset - New question of law not raised before lower authorities Depreciation on goodwill as intangible asset - Eligibility of goodwill for depreciation as an intangible asset - HELD THAT: - The Court held that the controversy was covered by the Supreme Court SMIFS SECURITIES LTD. [2012 (8) TMI 713 - SUPREME COURT] determination that goodwill is an asset within the meaning of Explanation 3(b) to section 32(1). The issue of depreciation on goodwill was the... ... ...

Profit on sale of investments - Assessee carrying on a general insurance business - HELD THAT:- Summary order. The Special Leave Petitions were dismissed on the ground of delay for want of sufficient cause.... ... ...

Classification of outdoor playground and gym equipment under Heading 9506 - Specific tariff entry prevailing over parts classification - GST rate distinction between sports goods and physical-exercise equipment Classification of outdoor playground and gym equipment under Heading 9506 - Classification of spare parts solely or principally used with Chapter 95 articles - Specific tariff entry for bearings - Classification of outdoor playground equipment, outdoor gym equipment and their spare par... ... ...

Classification of laminated HDPE woven geomembrane as technical textile - GST rate on HDPE geomembrane Classification of laminated HDPE woven geomembrane - Textile fabrics for technical use - Classification of laminated HDPE woven Geomembrane for waterproof pond lining under tariff sub-heading 59111000 - HELD THAT: - HDPE tapes and strips of width below 5 mm fell within Section XI; their weaving produced textile fabric. The fabric was laminated with plastic on both sides and used as waterproo... ... ...

Sufficiency of GST show-cause notice and actual prejudice - Personal hearing and remand for breach of natural justice - Electronic Cash Ledger credit and payment of GST return liability - Prospective operation of interest exclusion for Electronic Cash Ledger balances Sufficiency of GST show-cause notice - Actual prejudice - Sufficiency of the GST interest show-cause notice where the appellant had received the demand basis and computation and filed detailed replies - HELD THAT: - Though the st... ... ...

Interest on delayed GST payment - Electronic Cash Ledger credit and discharge by debit - Prospective operation of the proviso to Rule 88B(1) for continuously available Electronic Cash Ledger balances - Show-cause notice for GST interest - sufficiency of particulars and absence of prejudice - Requested personal hearing - breach of natural justice and remand Show-cause notice - sufficiency of particulars and prejudice - Sufficiency of the show-cause notice for interest on delayed GSTR-3B return... ... ...

Part B e-way bill exception for initial intrastate transport to transporter's premises - Discretion to admit appeal below statutory monetary threshold Discretion to admit appeal below statutory monetary threshold - Admission of an appeal involving a penalty below the statutory monetary threshold where it raised the applicability of the Rule 138(3) exception and the legality of the penalty - HELD THAT: - The statutory provision conferred discretion to refuse admission of an appeal below th... ... ...