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Rulings ( 14670 results )

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Income tax Appellate Tribunal

ITAT: Sec. 54F deduction cannot be denied without cogent reasoning, upholds tax-planning within legal framework

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-644-ITAT-2026(Mum)
  • Tax Payer : Nidhi Siddharth Kejriwal
Income tax Appellate Tribunal

ITAT: CIT(A) cannot fundamentally alter appellate orders via restrictive rectification powers under guise of Sec. 154

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-649-ITAT-2026(Mum)
  • Tax Payer : A.P.L Civilcon Pvt. Ltd
High Court

HC: CIT(E) cannot revise assessment order u/s 263 merely because further details were required

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-648-HC-2026(BOM)
  • Tax Payer : Impact Foundation (India)
Income tax Appellate Tribunal

ITAT: Sec. 11(5) investment shortfall from prior years not taxable in current-AY post-2022 amendment

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-647-ITAT-2026(Mum)
  • Tax Payer : Shri Sant Sitarambua Walawalkar Charitable Trust
Income tax Appellate Tribunal

ITAT: IPL franchise fees paid to BCCI are revenue expenditure; Deletes disallowance

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-638-ITAT-2026(Mum)
  • Tax Payer : Indiawin Sports Private Limited
Income tax Appellate Tribunal

ITAT: Subsequent SCN rectifies ambiguity in initial penalty proceeding, specifies ‘specific charge’; Validates penalty u/s 271(1)(c)

May 06, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-646-ITAT-2026(Mum)
  • Tax Payer : Rasila Khimji Gedia
Income tax Appellate Tribunal

ITAT: Sec. 54F prevails over Sec. 70 as it applies only after capital gains computation u/s 45 to 55A

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-645-ITAT-2026(Mum)
  • Tax Payer : Nikesh Bhagwandas Mehta
Income tax Appellate Tribunal

ITAT: Vacates attachment on Assessee’s bank account; Cites procedural lapse by AO in not issuing prior attachment notice

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-643-ITAT-2026(HYD)
  • Tax Payer : Surya Prakash Kacham
Income tax Appellate Tribunal

ITAT: CIT(A) lacks jurisdiction to enhance income on issues not dealt by AO; Remedy u/s 263, 147, 154

May 06, 2026
  • In Favour of Assessee
  • Citation Number : TS-642-ITAT-2026(Mum)
  • Tax Payer : Skyline Greathills
Income tax Appellate Tribunal

ITAT: Post-search assessment mandatorily required to be undertaken u/ 147; Quashes post-search assessment u/s 143(3)

May 05, 2026
  • In Favour of Assessee
  • Citation Number : TS-640-ITAT-2026(JODH)
  • Tax Payer : Miraj Products Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds Assessee to be in-default u/s 201(1) for non-deduction of TDS u/s 194J on year-end provisions

May 05, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-639-ITAT-2026(Bang)
  • Tax Payer : Artha Real Estate Corporation Limited
Income tax Appellate Tribunal

ITAT: Valuation date is when consideration received, not when shares are allotted; Deletes Sec. 56(2)(viib) addition

May 05, 2026
  • In Favour of Assessee
  • Citation Number : TS-637-ITAT-2026(DEL)
  • Tax Payer : Eduwizards Infosolutions Private Limited
Income tax Appellate Tribunal

ITAT: Accepts SBN deposits as genuine trade receipts from firecracker sales; Deletes Sec. 68 addition

May 05, 2026
  • In Favour of Assessee
  • Citation Number : TS-636-ITAT-2026(CHNY)
  • Tax Payer : Sri Rajeswari Fire Works
High Court

HC: Prior opportunity to cross examine, farce, results in violation of principles of natural justice; Sets aside assessment order

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-635-HC-2026(DEL)
  • Tax Payer : Baleshwar Sharma
Income tax Appellate Tribunal

ITAT: Bonafide procedural delay in filing Form 10B, without malafide intentions, a curable defect; Allows exemption to trust

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2026(DEL)
  • Tax Payer : Noida Golf Course Society
Income tax Appellate Tribunal

ITAT: Deletes STCG addition on surrender of tenancy rights; Taxability occurs on alternative permanent accommodation possession

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-633-ITAT-2026(Mum)
  • Tax Payer : Jigar Sevantilal Shah
Income tax Appellate Tribunal

ITAT: Refuses to condone delay of 2856 days as bereft of cogent reasons

May 04, 2026
  • In Favour of Revenue
  • Citation Number : TS-634-ITAT-2026(DEL)
  • Tax Payer : Ashutosh Malik Proprietor GEE ESS Textile
Income tax Appellate Tribunal

ITAT: Right to defend one’s case a natural and inviolable right; Remits for denovo adjudication

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-631-ITAT-2026(DEL)
  • Tax Payer : Ateeya Estates Private Limited
Income tax Appellate Tribunal

ITAT: BSNL eligible for Sec. 35ABB deduction for 3G & BWA services; Deletes Rs. 983Cr. addition u/s 43B & 115JB

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2026(DEL)
  • Tax Payer : Bharat Sanchar Nigam Ltd
High Court

HC: Confirms deferred income concept for Mahindra Holidays’ time-share membership fees; Cites not contingent expenditure

May 04, 2026
  • In Favour of Assessee
  • Citation Number : TS-629-HC-2026(MAD)
  • Tax Payer : Mahindra Holidays and Resorts (India) Ltd