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. 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.)

S. 12AA: Procedure for registration-Trust or institution-Defects curable-Matter remanded for fresh consideration. [S. 80G, Rajasthan Public Trust Act, 1959, S. 17]

Arya Samaj Mandir v. CIT (2025) 126 ITR 37 / 178 taxmann.com 147 (Jaipur)(Trib.)

S. 11: Property held for charitable purposes-Form No. 9A-Revised Form filed before completion of assessment-Correct taxable income to be determined-Matter remanded.[S. 143(3)]

Deendayal Seva Pratishthan v. ITO (2025) 126 ITR 368 / 179 taxmann.com 88 (Nagpur)(Trib.)

S. 11: Property held for charitable purposes-Registration granted subsequently-Audit report in Form No. 10B filed thereafter-Substantial compliance-Exemption allowable-Return filed within time under section 139-Amendment by section 12A(1)(ba) prospective-Exemption not to be denied. [S. 12, 12AA,139(4A) 143 (1)]

Shri Panchmurti Education Society v. ITO (2025) 126 ITR 523 / 171 taxmann.com 546 (Nagpur)(Trib.)

S. 4: Charge of income-tax-Capital or revenue receipt-Redevelopment of property-Compensation for hardship on vacating flat-Capital receipt not chargeable to tax-Appellate Tribunal-Delay of 1566 days-wrong legal advice-Delay was condoned. [S. 253, 254(1)

Ajay Parasmal Kothari v. ITO [2024] 159 taxmann.com 570 / (2025) 126 ITR 511 (Mum.)(Trib.) Editorial: Affirmed in Sarfaraz S. Furniturewalla v. Afshan Sharfali Ashok Kumar (2024) 467 ITR 230 (Bom.)(HC).