Quarterly Insights — Domestic Tax
The Income-tax Act, 2025 is now operative from 1 April 2026, and the language shifts will create interpretational work even where the underlying principle is unchanged. This briefing also covers the most consequential domestic tax rulings of the quarter.
Inside this briefing:
Supreme Court — Jindal Equipment Leasing: Shares received on amalgamation are taxable as business income if the original shares were held as stock-in-trade, and only when the shares are actually received and freely realisable.
Delhi Tribunal — Adani Tracks: Gratuity transferred along with an employee is deductible in the transferor’s hands.
Hyderabad Tribunal — Corteva Agriscience: In a slump sale, transfer of bonus, gratuity and leave encashment liabilities is not ‘deemed payment’ under section 43B — opening up which entity gets the deduction.
Mumbai Tribunal — Varun Asher: Tenancy is a capital asset; a flat received on redevelopment qualifies for section 54F.
ITA 2025 / Finance Act 2026 / AY 2026-27 ITR forms — a quick note on what is now in force.