Income Tax Act, 1961

The Supreme Court was asked to consider whether, under its Article 142 powers, it could issue blanket directions that all interim stays granted by High Courts should automatically lapse after six months and that High Courts must dispose of such cases on a day‑to‑day basis. The Court examined the object of interim order…

The appellant, Vijay Krishnaswami, was searched in 2016 and Rs.4.93 crore of unaccounted cash was seized, leading the Revenue to initiate prosecution under s.276C(1) of the Income Tax Act for the assessment year 2017-18. The appellant filed a quashing petition and later applied to the Settlement Commission under s.245C…

The appellant, a former managing director of Sri Lakshmi Hotel Private Ltd., challenged the e‑auction of the company's property, alleging that the reserve price was under‑valued, that the liquidator failed to form a Stakeholders’ Consultation Committee, and that the liquidator violated Regulation 33 by not cancelling t…

The case concerned whether cellular mobile service providers (the assessees) were required to deduct tax at source under section 194-H of the Income Tax Act, 1961 on the margin earned by franchisees/distributors from selling prepaid kits at a price higher than the discounted price paid to the assessees. The Revenue arg…

The Madhya Pradesh Road Development Corporation sought to acquire land for a highway project and determined compensation using the circle rate fixed under the Indian Stamp Act, as prescribed by the Collector’s Guidelines. The landowners challenged the award, arguing that the compensation was excessive and that the "the…

The appellant, Sanjabij Tari, appealed against the High Court’s ex‑parte order acquitting Kishore S. Borcar (respondent No.1) under Section 138 of the Negotiable Instruments Act for a bounced cheque of Rs.7.5 lakh. The central issue was whether the High Court could overturn the concurrent findings of the trial and sess…

The Delhi Development Authority (DDA) had allotted a plot to Sarita Vihar Club under a lease that gave DDA a pre‑emptive right to purchase and required Lieutenant Governor’s consent for any mortgage. The Club mortgaged the plot to Corporation Bank without such consent, defaulted on the loan and the Bank sought recovery…

Hyatt International Southwest Asia Ltd., a UAE‑resident company, entered into long‑term Strategic Oversight Services Agreements (SOSA) with Indian hotel owners to provide strategic, operational and financial oversight of hotels in Delhi and Mumbai. The Assessing Officer treated the fees earned under the SOSA as taxable…

The Income Tax Department ordered HDFC Bank to stop operation of certain lockers and accounts, but later revoked the order only for the accounts, leading bank officials to mistakenly allow a locker to be operated. The department filed a complaint and an FIR was registered against the bank and its officials for multiple…

Larsen & Toubro (L&T) and Puri Construction Ltd (PCL) entered into a Development Agreement for land development, later supplemented by a Supplementary Agreement and a Tripartite Agreement involving a bank. Disputes arose over alleged economic duress, non‑fulfilment of conditions precedent, and L&T's abandonment of the …

Shital Fibers Ltd. claimed deductions under Sections 80‑HHC, 80‑IA and 80‑IB for the assessment year 2002‑03 and the Revenue disallowed the deductions, leading to a series of appeals up to the Supreme Court. The central issue was the interpretation of sub‑section (9) of Section 80‑IA of the Income Tax Act, 1961, specif…

The appeal concerned a corporate debtor, Tehri Iron and Steel Casting Ltd., whose resolution plan was approved by the NCLT on 21 May 2019. The plan listed certain statutory and contingent liabilities, but omitted income‑tax demands for assessment years 2012‑13 and 2013‑14. After the plan’s approval, the Income Tax Depa…

The petitioners, chartered accountants, challenged the Council of the Institute of Chartered Accountants of India's Guidelines dated 08‑08‑2008 that capped the number of tax audits a member could undertake under section 44AB of the Income Tax Act. They argued that the restriction was beyond the Council's competence, vi…

The appellants, promoter‑directors of a listed finance company, were found to have purchased shares in violation of SEBI's insider‑trading regulations and were penalised by an SEBI Adjudicating Officer on 28‑08‑2014. The penalty orders required payment within 45 days and were affirmed by the Supreme Court in 2019, afte…

The R.B.A.N.M.S. Educational Institution, a charitable trust in possession of a Bangalore property since 1905, was sued by respondents who claimed a right to prevent the institution from alienating the land based on an alleged 2018 agreement to sell and an advance cash payment of Rs.75 lakh. The institution filed an ap…

The appellant, Kesari Nandan Mobile, challenged two provisional attachment orders dated 13 November 2024 and 18 December 2024 issued by the Assistant Commissioner of State Tax under section 83 of the Central Goods and Services Tax (CGST) Act. The orders were issued after earlier attachment orders of October 2023 had au…

M/s Tomorrowland Limited, the highest bidder for a 5‑star hotel site, paid the first instalment but argued that HUDCO (Housing and Urban Development Corporation) was obliged to obtain statutory approvals and execute a sub‑lease before demanding further payments. HUDCO failed to secure the necessary approvals and a perp…

The appellant, K. Krishnamurthy, was searched under Section 132 of the Income Tax Act in November 2010, during which he disclosed an income of Rs.2,27,65,580 for AY 2011-12 and later, during assessment proceedings, disclosed an additional Rs.2,49,90,000 arising from land transactions. The Assessing Officer levied a pen…

The Supreme Court had earlier declared the Electoral Bond Scheme unconstitutional and directed the State Bank of India (SBI), as the authorized bank, to furnish the Election Commission of India (ECI) with details of each bond purchased and redeemed between 12 April 2019 and 15 February 2024. SBI filed a Miscellaneous A…

The Supreme Court examined the interplay between Section 144C, which provides a special dispute‑resolution procedure for eligible assessees, and Section 153(3) of the Income Tax Act, which prescribes a twelve‑month limitation for fresh assessments. The Court held that the limitation under Section 153 applies only to th…

The State of Odisha issued an auction notice for a five‑year sand‑quarry lease; Shanti Construction Pvt. Ltd., the highest‑price bidder, was declared non‑responsive for not submitting an Income Tax Return for FY 2021‑22, while a lower‑priced bidder was declared successful. The dispute centered on the meaning of “previo…

The All India Bank Officers’ Confederation and other bank staff unions challenged Section 17(2)(viii) of the Income Tax Act, 1961 and Rule 3(7)(i) of the Income Tax Rules, 1962, alleging that they amounted to an excessive delegation of the essential legislative function to the Central Board of Direct Taxes and that the…

The appellant, an individual with salary and partnership income, filed his income‑tax returns for AY 2011‑12 and AY 2013‑14 well after the statutory due dates, attracting show‑cause notices under section 276CC of the Income Tax Act. He sought compounding of the offences under the 2014 Guidelines; the first application …

The respondents, co‑owners of a 42‑room residential building in Bangalore, leased the property to a company which sub‑let it as a hostel for students and working professionals. The respondents sought an advance ruling that the rent received was exempt from GST under Entry 13 of Notification 9/2017, which provides exemp…

The appellants, who are relatives of the complainant, filed a petition under Section 482 of the CrPC seeking to quash FIR No. 21 of 2019 alleging offences under IPC sections 420, 342, 294(b) and 506(1). The complainant claimed he had invested Rs. 1.5 crore in a Nissan car dealership run by the appellants, was denied pa…

Gujarat Urja Vikas Nigam Limited (GUVNL) entered into power purchase agreements (PPAs) with four wind‑energy companies, fixing a tariff of Rs 3.56 per kWh that was applicable only to projects availing accelerated depreciation under the Income‑Tax Act. The respondents later approached the Gujarat Electricity Regulatory …

The appellant, a licensed stamp vendor, was caught in a sting operation after demanding Rs 12 for a Rs 10 stamp paper and was convicted under Sections 7, 13(1)(d) and 13(2) of the Prevention of Corruption Act, 1988. The key issue was whether a licensed stamp vendor qualifies as a “public servant” under Section 2(c)(i) …

M/s Jupiter Capital Pvt. Ltd. held a 99.88% share in Asianet News Network Pvt. Ltd. which reduced its share capital from 15,35,05,750 to 10,000 shares, proportionately reducing Jupiter's holding to 9,988 shares and receiving Rs. 3,17,83,474 as consideration. The Revenue argued that this reduction did not constitute a "…