SEZ unit exporting services on IGST payment is eligible for tax refund utilizing ISD-distributed ITC. SEZ unit exporting services on IGST payment is eligible for tax refund utilizing ISD-distributed ITC. Issue Whether an SEZ unit exporting services after paying integrated tax by utilizing Input Tax Credit (ITC) distributed by an Input Service Distributor (ISD) is… Read More »
High Court Upholds Administrative File Transfer from GST Audit to Anti-Evasion Wing Due to Taxpayer Non-Compliance High Court Upholds Administrative File Transfer from GST Audit to Anti-Evasion Wing Due to Taxpayer Non-Compliance Issue Whether the Additional Commissioner (Audit) had the authority to administratively transfer a taxpayer’s audit file from the Audit Wing to the Anti-Evasion… Read More »
INCOME TAX CASE LAWS 10.09.2025 Section Relevant Act Case Law Title Brief Summary Citation Section 2(47) Income-tax Act, 1961 DCIT v. Bhavna Bharat Daftary Assessing Officer cannot treat two separate share transfers executed at different dates and prices as one composite transaction and substitute a subsequent higher price merely because consideration was discharged later. Click… Read More »
Penalty and Recovery Notices Issued on a Set-Aside Assessment Order Are Illegal and Invalid Issue Whether penalty and recovery notices issued on the basis of an original assessment order—which was set aside by an appellate authority with directions for fresh assessment—are legally valid when the fresh assessment proceedings are still pending. Facts The Assessing Officer… Read More »
Revenue must pay 6% compensatory interest on delayed, unpaid Section 244A statutory refund interest. Issue Whether the Revenue must be directed to rectify the computation and release the balance interest when statutory interest under Section 244A was incorrectly computed. Whether the Revenue is liable to pay interest or compensation to the assessee on delayed, unpaid… Read More »
Writ challenging Section 148 notice based on GST order dismissed as reassessment must follow Income-tax Act. Writ challenging Section 148 notice based on GST order dismissed as reassessment must follow Income-tax Act. Issue Whether a notice issued under Section 148 based on an order passed by a Proper Officer under GST legislation can be interfered… Read More »
Reclassification of loss via revised return under Section 139(5) cannot be disregarded if no fresh loss is claimed. Issue Whether a revised return filed under Section 139(5) reclassifying an already disclosed F&O loss from speculative to non-speculative business loss can be disregarded by the Assessing Officer when the total loss claimed remains substantially the same… Read More »
Unexplained cash deposit addition under Section 69A restricted to Rs. 13.10 lakhs based on cash flow verification. Issue Whether cash deposits aggregating to Rs. 25.71 lakhs in the HDFC Bank account of the assessee during the period 17-05-2016 to 06-08-2016 are treatable as unexplained money under Section 69A, or if the addition should be restricted… Read More »
Addition under Section 69A fails when DVO report accepts declared property prices, while Section 271B penalty stands without reasonable cause. Issue Whether additions under Section 69A based on a seized diary can be sustained when a Departmental Valuation Officer (DVO) report under Section 142A accepts declared property prices as matching fair market value. Whether penalty… Read More »
Reopening assessment beyond four years is invalid without establishing assessee’s failure to disclose material facts. Reopening assessment beyond four years is invalid without establishing assessee’s failure to disclose material facts. Issue Whether reopening an assessment under Section 147 after four years from the end of the relevant assessment year is valid when reasons recorded rely… Read More »