Destruction of Source of Income: Supreme Court Clarifies When Compensation Becomes a Capital Receipt     Karamchand Thapar & Bros. (P) Ltd. v. CIT — 80 ITR 167 (SC) When Compensation Is Not Income, But Compensation for Losing the Income-Generating Source A compensation receipt can sometimes look like income. It may be received in cash….

Diversion of Income by Overriding Title: When Income Never Becomes the Assessee’s Income Supreme Court Explains the Difference Between “Diversion of Income by Overriding Title” and “Application of Income”Income Belong to Someone Else Before It Reaches You? One of the most fascinating principles in income-tax law is the distinction between “diversion of income by overriding…

Bombay High Court: Income Tax Department Cannot Take a Contrary Stand After Consistently Accepting the Same Position      Doctrine of Consistency, Estoppel and Article 265: Revenue Cannot Blow Hot and Cold in Tax Matters Can the Income Tax Department Change Its Stand Whenever It Suits It? Imagine a taxpayer follows a particular method of…

Income Tax Department Cannot Recover Pre-Resolution Tax Dues After NCLT Approval of IBC Plan: Gauhati High Court     Meghalaya Infratech Ltd. | 2026 TAXSCAN (HC) 1678 SEO Title: Gauhati High Court Says Pre-Resolution Income Tax Dues Extinguished After IBC Resolution Plan Approval Meta Description: Gauhati High Court rules that Income Tax Department cannot recover…

Himachal Pradesh High Court Quashes ₹117.94 Crore GST Recovery Notice Against Morepen Laboratories: Omitted Rule Cannot Sustain Tax Proceedings Without Saving Provision     Case: Morepen Laboratories Ltd. v. Union of India & Ors. CWP No.: 20929 of 2025 Court: Himachal Pradesh High Court Judgment Date: 12 October 2026 SEO Title: Himachal Pradesh High Court…