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Income tax Appellate Tribunal Latest

ITAT: Allows Assessee’s claim of rebate u/s 87A on tax payable on STCG, sans express statutory embargo

Jul 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-1126-ITAT-2026(Mum)
  • Tax Payer : Sejal Paras Doshi
Income tax Appellate Tribunal

ITAT: Entity offering corresponding income to tax alone gets TDS credit; Denies credit to partner

Jul 27, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-1125-ITAT-2026(Bang)
  • Tax Payer : Gerald Sequeira
Income tax Appellate Tribunal

ITAT: Restricts disallowance of marketing expenses; Deletes 200% penalty sans false entry & absence of evidence

Jul 27, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-1124-ITAT-2026(Ahd)
  • Tax Payer : Globizz Synergy Private Limited
Income tax Appellate Tribunal

ITAT: Deletes estimated forex loss disallowance against Vodafone Idea where revenue nature is proven & capital-related fluctuation capitalised

Jul 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-1110-ITAT-2026(Mum)
  • Tax Payer : Vodafone Idea Limited
Income tax Appellate Tribunal

ITAT: Allows expenditure incurred on ESOP u/s 37(1); Follows Biocon ruling

Jul 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-1117-ITAT-2026(Mum)
  • Tax Payer : JM Financial Limited
Income tax Appellate Tribunal

ITAT: Holds Malaysian Software purchase not royalty under DTAA; Sec. 195 TDS provision inapplicable

Jul 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-1118-ITAT-2026(HYD)
  • Tax Payer : VALUE LABS LLP
Income tax Appellate Tribunal

ITAT: Loss arising on restatement liability, capital in nature not revenue; Upholds disallowance of foreign exchange fluctuation loss

Jul 25, 2026
  • In Favour of Revenue
  • Citation Number : TS-1123-ITAT-2026(CHNY)
  • Tax Payer : Egger Pumps India Private Limited
Income tax Appellate Tribunal

ITAT: Omission to exclude stock-in-trade under Rule 8D(2)(iii), rectifiable mistake apparent from record u/s 254

Jul 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-1122-ITAT-2026(Mum)
  • Tax Payer : ICICI Bank Limited
High Court

HC: Directs issue of reduced TDS certificate to Schlumberger basis consistent past approach; Quashes Sec. 197 certificate

Jul 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-1121-HC-2026(DEL)
  • Tax Payer : SCHLUMBERGERASIA SERVICESLIMITED REPRESENTED THROUGH ITSAUTHORIZED REPRESENTATIVEAMIT ARORA
Income tax Appellate Tribunal

ITAT: Denies Sec. 80GGC deduction as political donation remains unproved; Accommodation-entry evidence outweighs bank payment

Jul 25, 2026
  • In Favour of Revenue
  • Citation Number : TS-1120-ITAT-2026(Ahd)
  • Tax Payer : Meetkumar Hasmukhbhai Chaturvedi
Income tax Appellate Tribunal

ITAT: Holds transportation to students as commercial activity, not charitable u/s 2(15); Rejects Sec. 12AB registration

Jul 25, 2026
  • In Favour of Revenue
  • Citation Number : TS-1119-ITAT-2026(CHANDI)
  • Tax Payer : International Will Trust
Income tax Appellate Tribunal

ITAT: Merely crediting partners' interest via journal entry doesn't make it sham; Deletes interest disallowance

Jul 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-1116-ITAT-2026(CHANDI)
  • Tax Payer : Megha Fincorp
Income tax Appellate Tribunal

ITAT: Income taxed by Settlement Commission cannot be taxed again under BMA; Grants relief to Tahiliani Designs

Jul 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-1115-ITAT-2026(DEL)
  • Tax Payer : Tahiliani Design Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Uncorroborated search material can't justify denial of Sec 80G(5) renewal; Grants approval to G.D. Goenka school trust

Jul 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-1113-ITAT-2026(DEL)
  • Tax Payer : Lakhmi Chand Charitable Society
Income tax Appellate Tribunal

ITAT: Services rendered by Residents Welfare Association being contractual & reciprocal, not charitable u/s 2(15)

Jul 24, 2026
  • In Favour of Revenue
  • Citation Number : TS-1112-ITAT-2026(CHANDI)
  • Tax Payer : Amaltash Residents Welfare Association
Income tax Appellate Tribunal

ITAT: Cow protection, Bhagavad Gita dissemination don't render trust religious; Grants Sec. 12AB, 80G relief

Jul 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-1109-ITAT-2026(CHANDI)
  • Tax Payer : World Sankirtan Tour Trust
Income tax Appellate Tribunal

ITAT: Recharacterizing part of sale consideration as IFOS, untenable; AO not empowered to bifurcate basis conjectures

Jul 23, 2026
  • In Favour of Assessee
  • Citation Number : TS-915-ITAT-2026(Mum)
  • Tax Payer : Fifth Third Mauritius Holdings Ltd
Income tax Appellate Tribunal

ITAT: Property purchase from spouse within law isn't colorable device; Alllows Sec. 54F exemption

Jul 23, 2026
  • In Favour of Assessee
  • Citation Number : TS-1108-ITAT-2026(Mum)
  • Tax Payer : Neha Karan Motwani
Income tax Appellate Tribunal

ITAT: Grants relief to Jio Platforms on Rs. 2,761. Cr depreciation claim over opening intangible WDV

Jul 23, 2026
  • In Favour of Assessee
  • Citation Number : TS-1107-ITAT-2026(Ahd)
  • Tax Payer : Jio Platforms Limited
Income tax Appellate Tribunal

ITAT: Success fee payment, incurred wholly & exclusively for sale of shares, allowable u/s 48

Jul 23, 2026
  • In Favour of Assessee
  • Citation Number : TS-1106-ITAT-2026(Bang)
  • Tax Payer : Mohan Rajashekar