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Rulings ( 14670 results )

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Income tax Appellate Tribunal

ITAT: Sec. 54F deduction cannot be denied sans additional documents; JDA valid evidence for construction of residence

Apr 22, 2026
  • In Favour of Assessee
  • Citation Number : TS-571-ITAT-2026(Bang)
  • Tax Payer : Javaji Naga Darshan
Income tax Appellate Tribunal

ITAT: TDS credit to be granted to deductee if tax is paid & reflected in accounts; Remands matter for verification

Apr 22, 2026
  • In Favour of Assessee
  • Citation Number : TS-570-ITAT-2026(HYD)
  • Tax Payer : Transmission Corporation of Telangana Ltd
Income tax Appellate Tribunal

ITAT: Lack of nexus between withdrawals & deposits defeats telescoping claim; Confirms reopening & addition u/s 69A

Apr 21, 2026
  • In Favour of Revenue
  • Citation Number : TS-558-ITAT-2026(Mum)
  • Tax Payer : Naseer Ahamed
Income tax Appellate Tribunal

ITAT: Execution of JDA sans consideration & absolute possession, not ‘transfer’ u/s 45; Deletes LTCG addition

Apr 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-567-ITAT-2026(HYD)
  • Tax Payer : Vasudeva Rao Dhannavada
Income tax Appellate Tribunal

ITAT: Source of source documentation mandatory u/s 68 proviso for unsecured loans addition; Restores matter

Apr 21, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-566-ITAT-2026(Mum)
  • Tax Payer : Jumbo Electronics Corporation Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Amount utilized before filing return need not be deposited in capital gain account; Allows Sec. 54F deduction

Apr 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-565-ITAT-2026(DEL)
  • Tax Payer : Ashok Bansal
Income tax Appellate Tribunal

ITAT: Jio USA’s receipts for voice termination services not Royalty/FTS, taxable as business profits

Apr 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-563-ITAT-2026(Mum)
  • Tax Payer : Reliance Jio Infocomm USA Inc.
Income tax Appellate Tribunal

ITAT: Validates best judgment assessment u/s 144 after persistent non compliance by Assessee

Apr 21, 2026
  • In Favour of Revenue
  • Citation Number : TS-564-ITAT-2026(Ahd)
  • Tax Payer : Pradipsinh Devendrasinh Gohil
High Court

HC: Machinery replacement creating enduring benefit constitutes capital expenditure, not revenue expenditure

Apr 21, 2026
  • In Favour of Revenue
  • Citation Number : TS-562-HC-2026(MAD)
  • Tax Payer : Super Spinning Mills Ltd
High Court

HC: Quashes Sec. 153C proceedings sans incriminating material; Rural agricultural land sale not taxable as business income

Apr 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-561-HC-2026(RAJ)
  • Tax Payer : Superb Infotech Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 69A addition solely based on retracted statement sans any corroborative evidence

Apr 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-560-ITAT-2026(DEL)
  • Tax Payer : Sanjay Goel
Income tax Appellate Tribunal

ITAT: Restores issue of DTAA ‘tie-break’ rule citing inadequate factors for determining centre of vital interest

Apr 20, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-559-ITAT-2026(DEL)
  • Tax Payer : Vishal K Wanchoo
Income tax Appellate Tribunal

ITAT: Remands matter for verifying if income from sale of Priority Lending Sector Certificates, a capital receipt

Apr 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-557-ITAT-2026(CHNY)
  • Tax Payer : City Union Bank
Income tax Appellate Tribunal

ITAT: Upholds revisional jurisdiction against Amazon Retail u/s 263 due to AO's failure to conduct any inquiry

Apr 20, 2026
  • In Favour of Revenue
  • Citation Number : TS-554-ITAT-2026(DEL)
  • Tax Payer : Amazon Retail India Private Limited
Income tax Appellate Tribunal

ITAT: Running play-school/kindergarten, falls in “education” u/s 2(15); Cites early childhood schooling as formal education system

Apr 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-555-ITAT-2026(CHANDI)
  • Tax Payer : The Indian Institute of Model Education Society
Income tax Appellate Tribunal

ITAT: Upholds Sec. 68 addition on accommodation share capital sans Assessee’s failure to discharge primary onus

Apr 18, 2026
  • Citation Number : TS-549-ITAT-2026(DEL)
  • Tax Payer : Transnational Growth Fund Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 68 addition on share capital as unsustainable on proven identity, creditworthiness & genuineness despite shareholder non-appearance

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-548-ITAT-2026(Kol)
  • Tax Payer : Binapani Sales Private Limited
High Court

HC: Loan raising expenditure for repaying liabilities & statutory dues allowable; Cannot question Assessee’s commercial expediency

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-543-HC-2026(DEL)
  • Tax Payer : EBONY RETAIL HOLDINGS LTD
Income tax Appellate Tribunal

ITAT: Quashes reassessment u/s 148 sans signature or valid sanction; Unsigned approval vitiates jurisdiction

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-553-ITAT-2026(Rjt)
  • Tax Payer : Padmini Kalpesh Bavishi
Income tax Appellate Tribunal

ITAT: Quashes reassessment due to incorrect ‘reasons to believe’ basis non-attributable penny stock transactions

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-552-ITAT-2026(Rjt)
  • Tax Payer : Maheshbhai P. Balchandani