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-Cash deposits during demonetisation-Books audited and accepted-Rejection of books for selective entry unjustified [S. 145(3)]

Satya Pal Shiv Kumar v. ACIT (2025) 212 ITD 473 (Delhi)(Trib.)

S. 57 : Income from other sources-Deduction of interest and commission-Failure to substantiate claim-Disallowance upheld.[S. 24(b), 57(iii)]

Vivek Sheel Aggarwal v. DCIT (2025) 212 ITD 257 (Delhi)(Trib.)

S. 57 : Income from other sources-Deduction of interest-Nexus established between borrowings and lending-Disallowance deleted [S. 56, 57(iii)]

Vinay Badera v. ACIT (2025) 212 ITD 456 (Pune)(Trib.)

S. 56 : Income from other sources-Former Cricketer-Revised return-Amount shown as taxable in the return-Return is accepted-Delay of 1993 in filing the appeal before CIT(A) is condoned-One-time benefit received by assessee, a former cricketer, from BCCI in recognition of his services to Indian cricket-Exempt under section 56(2)(vii)-BCCI is a trust registered under section 12AA of the Act. [S. 12AA, 56 (2)(vii, 143(1), Art. 265]

Kapil Dev Nikhanj v. ACIT (2025) 212 ITD 191 (Delhi) (Trib.)

S. 56 : Income from other sources-Part consideration was paid as per allotment letter-Allotment of new flat was made in continuation of replacing of earlier allotment letter-Addition is deleted.[S. 56(2)(x)]

Pinstripe Properties (P.) Ltd. v. Dy.CIT (2025) 212 ITD 223 (Mum) (Trib.)

S. 56 : Income from other sources-Purchase of immovable property-Sale agreement dated 1-6-2012 and received possession on same day-Document was registered on 27-6-2013-Provision was inserted in statute with effect from 1-4-2014-Addition is deleted [S. 56(2)(vii)(b)(ii)]

Nitin Narayan Kadamdhad v. ITO (2025) 212 ITD 199 (Nagpur) (Trib.)

S. 56 : Income from other sources-Sale of immoveable property-Sale consideration and stamp value-Provisions is applicable to purchaser and not seller-Matter is remanded back to Assessing Officer.[S. 56(2)(x)]

Latika Sakharam Patil. v. ITO (2025) 212 ITD 89 (Pune) (Trib.)

S. 56 : Income from other sources-Purchase of land along with other co-owners-Difference between fair market value and purchase consideration was approximately 10 per cent of purchase consideration of property-Addition was deleted. [S.56(2)(x)]

Arvindkumar Jagjivandas Thakkar. v. ITO (2025) 212 ITD 504 (Ahd) (Trib.)

S. 54 : Capital gains-Profit on sale of residential property-Co-owner-Deduction allowable proportionately to extent of investment [S. 45]

Tejal Kaushal Shah (Smt.) v. ITO (2025) 212 ITD 397 (Mum)(Trib.)

S. 50C : Capital gains-Full value of consideration-Stamp valuation-The AO adopted SRO rate as sale consideration-Not referred to DVO-Matter remanded to Assessing Office to refer determination of FMV of asset to DVO. [S. 45, 48]

Ramesh Munaiah Chintakunta. v. DCIT (2025) 212 ITD 117 (Hyd) (Trib.)