Stay informed about the latest case laws on Income Tax with this comprehensive overview as we delve into the latest cases reported in the Income Tax Reports (ITR), focusing on critical issues such as Income tax deductions, depreciations, reassessment and appeal.
(2024) 465 ITR
Income Tax — Settlement Commission — Writ jurisdiction — Scope of interference — Settlement Commission has wide powers under Ch. 19A of the Income Tax Act, 1961 — Held, Ch. 19A vests power in Settlement Commission to grant immunity from prosecution and penalty to investigate into many matters and to enjoy conclusiveness regarding its order or settlement [CIT v. Kanakia Spaces (P) Ltd., (2024) 465 ITR 19]
Income Tax — Deductions — Application for certificate for nil deduction —Assessing officer’s authority — Held, under S. 197 of the Income Tax Act, 1961 view of authority at stage of consideration is provisional but isn’t detracted from conducting a prima facie evaluation [Lionbridge Technology LLC v. CIT, (2024) 465 ITR 454]
(2025) 473 ITR
Income Tax — Appeal — Assessment Order — Cash Credit — Sale of scrips — Assessing officer disallowed the long term capital gains exemption claimed under S. 10(38) — Appeal filed — Tribunal confirmed order of Commr. on re-appreciation of facts — Held, assessing officer had made a mistake on the face of the assessment order — No question of law arose [CIT v. Sawankumar T. Jajoo, (2025) 473 ITR 201]
Income Tax — Reassessment — Faceless Assessment — Notice — Validity — New Procedure — Delayed issue of notice — Violation of principles of natural justice — Assessing authority though may remain faceless cannot act contrary to procedural law — Notice and ex parte reassessment order set aside [V.S. Finance Ltd. v. CIT, (2025) 473 ITR 722]
Income Tax — Appeal — Appeal to High Court — Revision — Absence of due diligence — Pending appeal before appellate authority against assessment order — Held, appeal to high court against dismissal of appeal before tribunal challenging revision order liable to be dismissed [Veena Shah v. CIT, (2025) 473 ITR 624]
(2025) 474 ITR
Income Tax — Appeal — Maintainability — Bogus purchases — Restriction on account of bogus purchases under S. 69-C of the Income Tax Act, 1961 — Question of facts — Held, no substantial question of law [CIT v. Parvin U. Parmar, (2025) 474 ITR 171]
Income Tax — Appeal — Refund — Condonation of delay — Limitation — Rejection of application for condonation of delay as barred by limitation referring to CBDT circular — Held, date on which request for refund made to be considered for reckoning delay and while considering its condonation — Subsequent date of making formal application is insignificant [CIT v. Vivek Krishnamoorthy, (2025) 474 ITR 506]
(2025) 475 ITR
Income Tax — Depreciation — Contingent Liability — Commr. and Tribunal upholding disallowance — Held, Tribunal rightly found no contractual payment made to parties and liability not agreed by them — No substantial question of law arose [Petronet V.K. Ltd. v. CIT, (2025) 475 ITR 494]
Income Tax — Reassessment — Order for issue of notice — Validity — Held, duty of assessing officer to provide documents and material on basis of which order has been issued [Neelam Dubey v. Union of India, (2025) 475 ITR 500]
Income Tax — Appeal — Appeal to Commr. — Inordinate Delay — Delay in adjudication of appeal filed five years before — Held, inordinate delay at defeats the objective of the section 250(6A) — Commr. directed to decide within three months from the order of the Court [Kulwinder Paul Singh v. CBDT, (2025) 475 ITR 371]
