This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
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S. 69A: Unexplained money-Cash deposits-Availability of cash from earlier withdrawals-Matter remanded for fresh examination-Reassessment-“Reason to believe”-Prima facie belief sufficient-Reopening valid-Delay of six days was condoned. [S. 147, 148, 254(1)]

Akshat Loyalka v. ITO (2025) 126 ITR 373 / 175 taxmann.com 42 (Jaipur)(Trib.)

S. 69A: Unexplained money-Cash deposits-Deposits made by members of co-operative society-Explanation accepted-Ad hoc addition deleted.

Sanjivani Mahila Gramin Bigar Sheti Sahakari Pat Sanstha v. ITO (2025) 126 ITR 713 (Nagpur)(Trib.)

S. 68 : Cash credits-Share capital-Unsecured loan-Established identity, creditworthiness and genuineness of transaction beyond doubt-Addition deleted.

Pioneer Fabricators (P.) Ltd. v. Dy. CIT (2025) 126 ITR 115 / 175 taxmann.com 96 (Delhi) (Trib)

S. 68 : Cash credits-Unsecured loans-Identity, creditworthiness and genuineness established-Addition deleted-Source of source-Requirement not applicable-Addition based on suspicion not sustainable. [S. 131, 133(6)]

ITO v. Agrasen Logistics (2025) 126 ITR 436 / 179 taxmann.com 86 (Agra)(Trib.)

S. 68 : Cash credits-Share capital and unsecured loans-Identity, creditworthiness and genuineness established-Addition deleted.

Pioneer Fabricators (P.) Ltd. v. Dy. CIT (2025) 175 taxmann.com 96 / 126 ITR 115 (Delhi)(Trib.)

S. 68: Cash credits-Short-term capital gains-Alleged penny stock transactions-Genuine transactions through stock exchange-Addition deleted. [S.2(42B), 45, 111A, 115BBE]

Dy. CIT v. Naresh Laxminarayan Grover (2025) 126 ITR 137 / 178 taxmann.com 472 (Nagpur)(Trib.)

S. 68: Cash credits-Unexplained loan-Addition based solely on third-party document-Handwriting expert proving signatures forged-Addition deleted.

Rana Iqbal Singh v. ITO (2025) 126 ITR 252 / 178 taxmann.com 473 (Amritsar)(Trib.)

S. 54F: Capital gains-Investment in a residential house-Construction of residential house-Booking of flat under construction-Registration within three years-Exemption allowable-Difference in value of flat disclosed in Schedule AL and registered sale deed-Difference explained-Addition deleted.[S. 45, 69B]

Avichal Kulshrestha v. ITO (2025) 126 ITR 356 / 179 taxmann.com 87 (Delhi)(Trib.)

S. 44BB: Mineral oils-Computation-Non-resident-Presumptive taxation-Goods and Services Tax (GST) collected separately-Not includible in gross receipts.[S. 145A]

Seadrill International Ltd. v. Asst. CIT (2025) 126 ITR 678 / 179 taxmann.com 553 (Mum.)(Trib.)

S. 37(1): Business expenditure-Commission-Telecommunication business-Ad hoc disallowance deleted-Royalty, Wireless Planning Commission charges and advertisement expenditure-Revenue expenditure-Judicial consistency followed.

Asst. CIT v. Vodafone West Ltd (2025) 126 ITR 335 / 173 taxmann.com 585 (Delhi)(Trib.) ACIT v. Vodafone Idea Ltd. (2025) 126 ITR 335 / 173 taxmann.com 585 (Delhi)(Trib.)