Income Tax Act

L.K. Trust v. Commissioner of Income Tax 2026 INSC 474- Income Tax Act - Deduction - Interest

Income-tax Act, 1961 - Section 36(1)(iii) - In this case, High Court disallowed the deduction on the footing that the borrowing benefitted a subsidiary/group concern and was not for the assessee’s own business. The Supreme Court held that interest on capital borrowed for the purposes of

Income Tax Act

Sanand Properties Pvt. Ltd. v. Joint Commissioner of Income Tax, Range 6 2026 INSC 472 - IT Act - Reopening Of Assessment

Income Tax Act 1961 - Section 147,148 - The essential condition precedents to exercise jurisdiction for reopening an assessment under Section 147 read with Section 148 of the Act are: a) The Assessing Officer must have ‘reason to believe’ that ‘income’ chargeable to tax has ‘escaped assessment;’ and b)

Income Tax Act

Woodland (Aero Club) Private Limited Director Vs Assistant Commissioner Of Income Tax - Income Tax Act - Due Date - PF - ESI Deduction

Income Tax Act 1961 - Section 2(24)(x), 36(1) (va) -the interpretation of the words “due date”- One view: there is no difference between employees and employer contribution to PF, ESI and both would be guided by the provisions of Section 43B of the Act so as

Taxation

Authority for Advance Rulings (Income Tax) v. Tiger Global International II/III/IV Holdings; 2026 INSC 60 - Taxation - GAAR

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Income Tax Act

Jindal Equipment Leasing Consultancy Services Ltd v. Commissioner of Income Tax, Delhi–II, New Delhi; 2026 INSC 46- S.28 Income Tax Act - Amalgamation - Receipt Of Shares

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Taxation

Sharp Business System v. Commissioner of Income Tax-III; 2025 INSC 1481 - S.37 Income Tax Act - Non Compete Fee

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Income Tax Act

Director of Income Tax (IT)-I, Mumbai v. American Express Bank Ltd.; 2025 INSC 1431 -S.44C Income Tax Act - Head Office Expenditure - Interpretation Of Taxation Statutes

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Income Tax Act

National Cooperative Development Corporation vs Assistant Commissioner of Income Tax 2025 INSC 1414 - Income Tax Act - Long Term Finance Business

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Taxation

Pride Foramer S.A. vs Commissioner of Income Tax, 2025 INSC 1247 - Non -Resident Person - Permanent Establishment

Income Tax Act 1961 - Section 4 and Section 5(2) of the Act read with Section 9(1)(i) - A non-resident person shall be liable to pay tax on income which is deemed to accrue or arise in India- None of these provisions make it mandatory for a

Negotiable Instruments Act

Sanjabij Tari v. Kishore S. Borcar 2025 INSC 1158 - Income Tax Act - S.138 NI Act

💡Does violation of Section 269SS Income Tax (cash transaction above Rs.20,000) render the transaction unenforceable under Section 138 of the NI Act? Negotiable Instruments Act - Section 138,139 ; Income Tax Act- Section 269SS, 271D ; - Neither Section 269SS nor 271D of the IT Act, 1961 state that

Income Tax Act

Vijay Krishnaswami v. Deputy Director of Income Tax (Investigation) 2025 INSC 1048 - Section 276C Income Tax Act

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Income Tax Act

Assistant Commissioner of Income Tax (International Taxation) vs Shelf Drilling Ron Tappmeyer Ltd. 2025 INSC 946, - Ss. 144C, 153(3) Income Tax Act

Income Tax Act 1961 - Section 144C, 153(3) - Maximum permissible time periods prescribed as per the Income Tax Act in terms of proceedings under Section 144C read with Section 153(3) of the Income Tax Act – whether the period of eleven months as envisaged under Section 144C of

Taxation

Shital Fibers Limited vs Commissioner of Income Tax 2025 INSC 743 - S. 80IA Income Tax Act

Income Tax Act 1961 - Section 80-IA - If a deduction of profits and gains under Section 80-IA is claimed and allowed, the deduction to the extent of such profits and gains in any other provision under the heading ‘C’ is not allowed. The deduction to the extent allowed under

Civil Law

Correspondence, RBANMS Educational Institution vs B. Gunashekar 2025 INSC 490 - TP Act - Income Tax

Civil Suits - Income Tax Act 1961 - Section 269ST -(A) Whenever, a suit is filed with a claim that Rs. 2,00,000/- and above is paid by cash towards any transaction, the courts must intimate the same to the jurisdictional Income Tax Department to verify the

Taxation

Commissioner Of Income Tax Exemptions vs International Health Care Education And Research Institute - S 12AA Income Tax Act - Exemption For Trusts

Income Tax Act 1961 - Section 12AA - The very purpose for any assessee to seek registration under Section 12AA of the Act is to claim exemption under Sections 10 and 11 respectively of the Act, as the case may be. Therefore, before seeking registration, it is essential that the

Taxation

K. Krishnamurthy vs Deputy Commissioner Of Income Tax 2025 INSC 208 - S 271AAA Income Tax Act

Income Tax Act 1961 - Section 271AAA - The expression ‘Undisclosed Income’ -The fact that the assessee has surrendered some undisclosed income during the course of search or that the surrender is emerging out of the statements recorded during the course of search is not sufficient to fasten the levy

Taxation

Vinubhai Mohanlal Dobaria Vs Chief Commissioner Of Income Tax 2025 INSC 155- S 276CC Income Tax Act - Compounding

Income Tax Act 1961 - Section 276CC & 139 - An offence under Section 276CC could be said to have been committed as soon as there is a failure on the part of the assessee in furnishing the return of income within the due time as prescribed under Section 139(

Income Tax Act

Principal Commissioner Of Income Tax-4 vs Jupiter Capital Pvt. Ltd. 2025 INSC 38 - S 2(47) Income Tax Act -

Income Tax Act, 1961 - Section 2(47) -The reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee would be squarely covered within the ambit of the expression “sale, exchange or relinquishment of the asset” used in Section 2(47) the