Interest written off as irrecoverable can qualify for a bad debt deduction under section 36 when it is written off in the relevant accounts and has been taken into account in computing income for that or an earlier year. Separate proof of actual irrecoverability is unnecessary. Interest included in income in earlier years and written off in the relevant accounts satisfies these conditions for deduction.

Penalty notices under sections 271 and 274 of the Income-tax Act, 1961 must specify whether the charge is concealment of income or furnishing inaccurate particulars of income. The two grounds have distinct meanings, and retaining both alternatives in a standard-form notice without identifying the applicable charge indicates non-application of mind. A penalty based on an unspecified charge cannot be sustained.

Charitable exemption under section 10(23C)(iv) remains available while approval is valid. Funds held solely for administration under binding restrictions are not income available for application to charitable objects. The character of corpus contributions depends on their purpose and attached obligations, not their accounting designation. Transferred funds require examination for changes in obligations, and double taxation of receipts must be avoided. Accumulation under section 10(23C)(iv) is not subject to a monetary limit or Form 10 requirement. Utilisation for charitable objects within five years requires verification, and unspent amounts may be taxed in the sixth year.

Section 68 places the burden on the assessee to substantiate share-sale transactions before the proceeds can be treated as explained. Uncontroverted purchase and sale invoices, demat and bank statements can discharge that burden where transactions are routed through banking channels, the shares are held for more than a year and sold on a stock exchange, and no share-price manipulation is attributed to the assessee. An addition of the sale proceeds as unexplained cash credits cannot be sustained in those circumstances.

Section 43CA provides for deemed sale consideration based on stamp-duty valuation. Where the taxpayer disputes that valuation, including the area used, and requests a valuation reference, the valuation must be referred to the District Valuation Officer and the resulting addition determined afresh after the report. Long-term capital gains supported by purchase, shareholding, demat, sale and bank records cannot be treated as unexplained solely on general allegations of share manipulation without evidence linking the taxpayer to misconduct. In those circumstances, exemption under section 10(38) is allowable.

Cash deposits may be explained for the purposes of Section 68 through cash books, balance sheets and bank statements showing sufficient cash balances and earlier withdrawals. These records can discharge the assessee's prima facie burden of explaining the source of deposits. Relevant records should be assessed on their contents rather than discounted on assumptions and presumptions.

The section 80P deduction cannot be denied solely because a return was filed within the period permitted under section 139(4), rather than by the section 139(1) deadline. The amendment to section 143(1)(a)(v), effective from 1 April 2021, enables disallowance of Chapter VI-A deductions during return processing but does not authorise that adjustment for assessment year 2019-20. The deduction is available for that year where the return was filed within the section 139(4) period.

Interest on borrowed capital used to acquire an overseas business through wholly owned subsidiaries is deductible under section 36(1)(iii) where the acquisition has an established nexus with expansion of the borrower's business and is commercially expedient. Acquisition of control does not by itself negate that nexus. Board records and financing documents established the business purpose, and the interest disallowance was deleted. An addition for alleged unaccounted mining profits was also deleted because production quantities matched records reported to mining authorities and no contrary material was produced.

Educational exemption under section 10(23C)(iiiab) of the Income-tax Act, 1961 requires an institution to exist solely for educational purposes and not for profit. A surplus alone does not establish a profit motive; the institution's objects and use of income are relevant. Substantial government financing is assessed by considering annual and capital grants alongside government support in kind, including land and infrastructure. Under Rule 46A of the Income-tax Rules, an assessing officer was given an opportunity to respond to additional evidence through a remand report request and reminders. No report was submitted, and no impropriety in admitting the evidence was substantiated.

Tax collection at source under Section 206C(1C) of the Income-tax Act, 1961 does not apply to compounding fees collected from persons engaged in illegal mining or transportation without a lease or licence. The provision requires a lease, licence, contract or transfer of a right or interest in a mine or quarry. Compounding payments for offences are penal and distinct from royalty under lawful mining arrangements. Related tax demands, interest and consequential penalties cannot be sustained. Judicial discipline requires adherence to a coordinate-bench decision addressing the same statutory provisions and receipts.

Revision of a block assessment under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Revenue loss alone or disagreement with a permissible view taken by the Assessing Officer does not justify revision. Alleged non-consideration of seized entries relating to cash loans and interest cannot support revision unless both statutory conditions are met.

GST appeals filed within the extension scheme's permitted period cannot be rejected as time-barred solely because the appeal does not expressly invoke the scheme or because of a pre-deposit shortfall without an opportunity to cure it. The scheme permitted appeals until 31 January 2024, subject to payment conditions including a 12.5% pre-deposit. An appeal filed within that period with a 10% pre-deposit had a curable shortfall, which was subsequently paid. Consideration on merits remains conditional on compliance with the scheme.

Before rejecting an appeal as time-barred, the appellate authority must consider eligibility under a potentially applicable extension notification and allow an opportunity to cure a shortfall in the additional pre-deposit. The extension covers appeals against assessment orders passed on or before 31 January 2023 and filed by 31 January 2024, subject to an additional deposit of 2.5% of disputed tax over the mandatory 10% pre-deposit. Where eligibility was not considered, it remains subject to fresh determination.

Proposed E-Way Bill numbering changes would increase the E-Way Bill number from 12 to 14 digits and the Consolidated E-Way Bill number from 10 to 11 digits, with effect from 1 January 2027. Taxpayers, GSPs, ERP and software providers, and API integrators are advised to modify applications, APIs, database schemas and validation rules to accommodate the revised formats. The changes are to be released in the Sandbox environment for testing, with relevant details to be published on the E-Way Bill Portal.

Digital onboarding and re-KYC are permitted for individual persons resident outside India, including non-resident Indians, Overseas Citizens of India and foreign nationals, when they are located in a Financial Action Task Force (FATF)-compliant country. Intermediaries may rely on another SEBI-registered intermediary's KYC through KRA records or another financial-sector-regulated entity's KYC through CKYCRR records, but retain ultimate KYC responsibility. In-person verification is required, with video verification used where physical verification is not feasible. Intermediaries must comply with the applicable cybersecurity framework and provide completed KYC information to the KRA within three working days.

In the second phase on 3 November 2026, 114 parcels attracted successful bids totalling Rs.218 crore against an aggregate reserve price of Rs.184.81 crore, a premium of 17.96%. Across both phases, 264 parcels attracted Rs.584.33 crore in successful bids against a combined reserve price of Rs.497.29 crore, a 17.50% premium. NLMC plans a third round for the remaining unsold parcels, subject to applicable approvals and conditions; its schedule and other details are to be announced in due course.

The assessment-year coverage of the Andhra Pradesh Electricity Regulatory Commission, Hyderabad, notified under section 10(46) of the Income-tax Act, 1961, is corrected in the English version of the 2019 notification. Under section 536 of the Income Tax Act, 2025, the stated period changes from assessment years 2019-2020 through 2023-2024 to assessment years 2020-2021 through 2024-2025. The Hindi version of the 2019 notification remains unchanged.

For the purposes of the relevant subsection of section 206 of the Income Tax Act, 2025, Adjudicating Authority has the meaning assigned under section 5(1) of the Insolvency and Bankruptcy Code, 2016. For the purposes of the relevant clause in the Explanation to section 115JB of the Income Tax Act, 1961, the same term has that meaning. Both provisions therefore use the definition from the Insolvency and Bankruptcy Code for their respective purposes.

Discount or interest on deep discount bonds and business debentures is deductible proportionately on accrual for the relevant accounting year, even though payment is due at maturity. The contractual liability arises when the instruments are issued, while the borrowing provides a business benefit over their term. Accrual accounting and the matching principle allocate the expenditure across that period, permitting deduction of the portion attributable to each accounting year.

Documents found during a survey attract a rebuttable presumption under section 292C of the Income-tax Act, 1961 concerning their ownership and the truth of their contents. The assessee bears the burden of rebutting that presumption. A receipt figure matching the accounts can corroborate recorded actual receipts, and an addition for unaccounted receipts may be based on survey evidence rather than solely on a survey statement. An unrebutted presumption concerning the document may support the addition.