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“Section 25(4)”

Section References (mined)Section 25Section 25(4)18 judgments

The decision most relied on for Section 25(4) is Durga Kamal Rice Mills v. CIT (265 ITR 25), cited in 151 judgments on BharatTax.

Leading authorities on Section 25(4)

Durga Kamal Rice Mills v. CIT
265 ITR 25 · 2004 · High Court
151
citing judgments

Penalty under Section 271(1)(c) is not automatically imposed upon an assessee's failure to contest a quantum addition or if two views are possible; the Assessing Officer must prove the charge of concealment or inaccurate particulars. Furthermore, an Assessing Officer can disallow a claim during assessment if it is patently false on examination of facts.

CIT v. Chetan Dass Lachman Dass
25 Taxmann.com 227 · 2012 · High Court
109
citing judgments

An assessment under section 153A of the Income-tax Act is not solely restricted to the evidence found during the search; the Assessing Officer can also consider other post-search material or information available that relates to the search evidence.

Sonic Biochem Extractions (P.) Ltd. v. ITO (
25 Taxmann.com 25 · 2012 · ITAT
63
citing judgments

Prior to the jurisdictional High Court's decision in CIT v. Samsung Electronics Co. Ltd. on October 15, 2011, the purchase of off-the-shelf software was not subject to TDS, and therefore, no disallowance under Section 40(a)(i) or 40(a)(ia) could be made.

Commissioner of Income-tax v. Independent Media (P) Ltd.
25 Taxmann.com 276 · 2012 · High Court
45
citing judgments

An addition under Section 68 for unexplained cash credits is justified when the assessee fails to establish the identity and creditworthiness of the investors and the genuineness of share application money or share premium, especially when 'paper companies' or 'entry operators' are involved.

CIT v. GP International Ltd.
325 ITR 25 · 2010 · High Court
45
citing judgments

An addition under Section 68 for cash credits or unexplained share capital cannot be sustained if the assessee substantiates identity and genuineness of transactions, even with partial confirmations from Section 133(6) enquiries. Further, Section 41(1) applies only when a trading liability ceases or is written off, not merely due to lack of creditor confirmation while the liability remains in the books.

ACIT v. Saveeta Institute of Medical and Technical Sciences
25 Taxmann.com 138 · 2012 · Reported
31
citing judgments

An addition to income based solely on a sworn statement recorded under section 132(4) of the Income-tax Act is not sustainable and such admission cannot be treated as a valid piece of evidence, especially when it is self-incriminating.

Para 21, 22, 24, 25, 26 10. Magotteaux International SA v. DCIT
141 Taxmann.com 8 · 2022 · Reported
13
citing judgments

Fees for computer software and technical services are taxable as fees for technical services under the Income Tax Act and are not royalties, unless the software is embedded with an enduring benefit and is integral to the business.

Premji Khimraj Shah v. ITO
118 ITR 216 · 1979 · Reported
11
citing judgments

Succession to business requires the successor to take over the whole or substantially the whole of the predecessor's business and continue it. A successor to only a part of the business, resulting from disintegration, is not considered a successor to the original business.

Judgments citing Section 25(4)

Ishares Core Msci Total International Stock Etf (As A Successor to Ishare Core Taotal International Stock Mauritius Company ), Mumbai vs. Dy CIT (Int. Tax)-2(2)(1), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 6774/MUM/2025[2023-24]Status: DisposedITAT Mumbai02 Jan 2026AY 2023-24

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

For Appellant: Shri Pranav GandhiFor Respondent: Shri Satya Pal Kumar, CIT-DR
Section 143(3)Section 144C(13)Section 144C(5)Section 70Section 70(2)

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Core Msci Emerging Markets Etf (As A Successor to Ishares Core Emerging Markets Mauritius Company, Mumbai vs. DCIT (Tp) 2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 6051/MUM/2025[2023-24]Status: DisposedITAT Mumbai02 Jan 2026AY 2023-24

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

For Appellant: Shri Pranav GandhiFor Respondent: Shri Satya Pal Kumar, CIT-DR
Section 143(3)Section 144C(13)Section 144C(5)Section 70Section 70(2)

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Dy.CIT, Circle-1(1), Chandigarh vs. M/S Glaxosmithkline Consumer Pvt. Ltd., Nabha

In the result, Revenue’s appeal is dismissed

ITA 121/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh16 Oct 2025AY 2016-17

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 121/Chd/2023 "नधा"रण वष" / Assessment Year : 2016-17 Dcit, M/S Glaxosmithkline Circle 1(1), बनाम Consumer Pvt. Ltd., Chandigarh Patiala Road, Vs. Nabha. Punjab "थायी लेखा सं./Pan No. Aafcg8415R अपीलाथ"/Appellant ""यथ"/Respondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Ajay Vohra, Sr. Advocate With Sh. Neeraj Jain, Advocate & Ms. Somya Jain, Ca (Virtual) राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.08.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 16.10.2025 आदेश/Order Per Krinwant Sahay, Am:

For Appellant: Sh. Ajay Vohra, Sr. Advocate with Sh. Neeraj Jain, Advocate and Ms. Somya Jain, For Respondent: Shri Manav Bansal, CIT DR
Section 32(1)

held that the transfer of sole proprietor business by father to his son would qualify as succession under the erstwhile section 25(4) of the Income Tax Act, 1922 since the business was subjected to tax under the provision of the Income Tax Act 1918. The provisions of section ... assessee to claim refund of the taxes paid by the father under the Income Tax Act 1918 since, in terms of section 25(4), the taxes were to be paid by the successor in the case of succession. The aforesaid judgement, it is submitted, has no applicability inasmuch

Ishares Msci All Country Asia Ex Japan Etf(As A Successor to Ishares Msci All Country Asia Ex Japan Mauritius Co), Mumbai vs. DCIT (Int)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2154/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

Section 143(3)Section 144C(13)

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Msci India Etf(As A Sucessor to Ishares India Index Maruitius Company), Mumbai vs. DCIT (Int)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2153/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Core Msci Em Imi Ucits Etf, Mumbai vs. DCIT (Int)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2152/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Core Msci Total International Stock Etf (As A Successor to Ishares Core Total International Stock Mauritius Co ), Mumbai vs. Deputy Commissioner of Income Tax (International Taxation)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2151/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Msci Emerging Markets Etf (As A Successor to Ishares Emerging Markets Index Mauritius Co ), Mumbai vs. Deputy Commissioner of Income Tax (International Taxation)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2150/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares India 50 Etf (As A Successor to Ishares India Mauritius Co ), Mumbai vs. Deputy Commissioner of Income Tax (International Taxation)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2149/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Msci Em Ucits Etf Usd Dist, Mumbai vs. Deputy Commissioner of Income Tax (International Taxation)-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2148/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Msci India Ucits Etf, Mumbai vs. Deputy Commissioner of Income Tax (International Taxation )-2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2147/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Schwab Emerging Markets Equity Etf, Mumbai vs. Deputy Commissioner of Income Tax International Taxation -4(2)(1), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2134/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Ishares Core Msci Emerging Markets Etf (As A Sucessor to Ishares Core Emerging Markets Mauritius Company), Mumbai vs. Deputy Commissioner of Income Tax (International Taxation) 2(2)(2), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

ITA 2085/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Prashant Kothari, Singapore vs. CIT A (57) Mumbai, Office of Commissioner of Appeals Mumbai

In the result, the additional ground of

ITA 5391/MUM/2024[2016-17]Status: DisposedITAT Mumbai29 May 2025AY 2016-17
Section 250

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

Bay Capital India Fund Limited, Mumbai vs. CIT (A) 55, Mumbai

In the result, the appeal by the assessee is allowed

ITA 6355/MUM/2024[2019-20]Status: DisposedITAT Mumbai08 Apr 2025AY 2019-20

Bench: Shri B.R. Baskaranshri Sandeep Singh Karhail

For Appellant: Shri Sukhsagar Syal, AdvFor Respondent: Ms. Monika H. Pande, Sr. DR
Section 143(1)Section 195Section 250Section 70Section 70(2)Section 70(3)

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

L & T Technologies Services Limited, Mumbai vs. Assistant Commissioner of Income Tax, Circle 2(2)(1), Mumbai

In the result, the additional grounds of the assessee are allowed for statistical purposes

ITA 4255/MUM/2023[2015-16]Status: DisposedITAT Mumbai06 Feb 2025AY 2015-16

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeel&T Technologies Services Ltd Vs Assistant Commissioner Of Income L&T House, N.M. Marg, Tax, Circle 2(2)(1), Mumbai Room No.545, 5Th Floor, Aayakar Mumbai Pan: Aaccl4310P Bhavan, Maharshi Karve Road, Mumbai-400 020 Appellant Respondent

For Appellant: Shri Nitesh JoshiFor Respondent: Dr. K.R. Subhash (CIT- DR)
Section 10ASection 143(3)Section 170Section 2Section 250Section 37Section 90

decision and stated that theruling of the Hon’ble Supreme Court held as Section 170 of the Income-tax Act, 1961 [Corresponding to section 25(4) of the Indian Income-tax Act, 1922] - Succession of business other than on death - Assessment year 1948-49 - Export business carried on by father ... more effectively - Ultimately business carried on by son was transferred to a limited company during relevant accounting year and he claimed benefit under section 25(4) of 1922 Act - Whether on facts it could be said that there was a succession within meaning of section 25(4

Matrix Partners India Investment Holdings, Llc, Mauritius vs. Deputy Commissioner of Income Tax, Mumbai

In the result the appeal filed by the assessee stands partly allowed

ITA 3097/MUM/2023[2020-21]Status: DisposedITAT Mumbai29 Jan 2025AY 2020-21

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

Section 115JSection 13(3)Section 143(2)Section 234ASection 270ASection 274

sums, they must be included in the total income for the purpose of determining the rate. It is therefore argued that although under Section 25(4) an exemption is given to the assessee because there is a succession to the business carried on and no tax is payable ... that the language used in all these sections, to which I have referred, is similar, if not indentical, with the language used in Section 25(4), viz., that the tax is not payable on these different sums. Now, if Mr. Joshi's contention was sound, then with regard to these

DCIT, Circle, Patiala vs. M/S Punjab State Power Corporation Ltd., Patiala

In the result, ground no. 1 & 3 of the Revenue’s appeal is allowed and ground no

ITA 737/CHANDI/2022[2017-18]Status: DisposedITAT Chandigarh27 Aug 2024AY 2017-18

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Rajiv Saldi, CAFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 143(2)

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING