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Rulings ( 14490 results )
Income tax Appellate Tribunal
ITAT: Grants benefit of enhanced exemption limit u/s 10(10AA)(ii) for leave encashment received on retirement
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-689-ITAT-2026(CHNY)
- Tax Payer : Balasubramanian Venkatachalaperumal
Income tax Appellate Tribunal
ITAT: IMAX has no fixed place PE & no service PE sans fulfillment of 90 days threshold under India-Canada DTAA
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-688-ITAT-2026(DEL)
- Tax Payer : IMAX Theatre Services Ltd
Income tax Appellate Tribunal
ITAT: Provision for bank’s ‘standard assets’, mandated by RBI, allowable u/s 36(1)(viia)
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-687-ITAT-2026(CHANDI)
- Tax Payer : Malwa Gramin Bank
Income tax Appellate Tribunal
ITAT: Quashes reassessment beyond 3-years given alleged escaped income below Rs. 50 lakh u/s 149(1)(b)
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-686-ITAT-2026(Bang)
- Tax Payer : Nikhil Chandran
Income tax Appellate Tribunal
ITAT: Deletes penalty for misreporting citing AO’s failure to mention specific limb of fault u/s 270A
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-685-ITAT-2026(Bang)
- Tax Payer : Renil E K Kumar
Income tax Appellate Tribunal
ITAT: Undisclosed income addition basis WhatsApp chat sans Sec. 65B Evidence Act certification, unsustainable
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-684-ITAT-2026(Mum)
- Tax Payer : Vikas Vilas Rasal
Income tax Appellate Tribunal
ITAT: Appeal maintainable as falling within Circular No.5 exception; Accepts restriction of tax profit to 0.2%
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-683-ITAT-2026(Mum)
- Tax Payer : Shree Sundha Steels Private Limited
Income tax Appellate Tribunal
ITAT: Sec. 68 addition unsustainable on doubt regarding creditor’s capacity when Assessee proved transaction genuineness
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-682-ITAT-2026(Mum)
- Tax Payer : Rajdhani Textiles Private Limited
Income tax Appellate Tribunal
ITAT: Non-issuance of Sec.143(2) notice a 'foundational infirmity', fatal to reassessment
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-681-ITAT-2026(LKW)
- Tax Payer : Arun Kumar Maurya
Income tax Appellate Tribunal
ITAT: Taxpayers can choose between DTAA or Act for each independent transaction; Allows Alibaba LTCG exemption
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-680-ITAT-2026(Mum)
- Tax Payer : ALIBABA. COM SINGAPORE E COMMERCE PRIVATE LIMITED
Income tax Appellate Tribunal
ITAT: No capital gains account deposit needed if funds utilized before filing belated return; Allows Sec. 54 deduction
May 13, 2026
- In Favour of Both, Partially
- Citation Number : TS-679-ITAT-2026(Mum)
- Tax Payer : Mukesh Babulal Shah
Supreme Court
SC: Interest on capital borrowed for subsidiary’s benefit is deductible business expenditure; Allows deduction u/s 36(1)(iii)
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-678-SC-2026
- Tax Payer : L.K. TRUST
Income tax Appellate Tribunal
ITAT: No TDS obligation u/s 195 by Tata Industries on share purchase from non-resident shareholders; Follows Vodafone ruling
May 13, 2026
- Citation Number : TS-677-ITAT-2026(Mum)
- Tax Payer : TATA Industries Ltd.
Income tax Appellate Tribunal
ITAT: Business decisions for reorganization cannot be questioned without proof of sham; Cites bonafide transfer u/s 47(iv)
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-676-ITAT-2026(CHNY)
- Tax Payer : Valeo Bayen
Supreme Court
SC: Hands Revenue an important re-assessment win, relies on Calcutta Discount & Phool Chand ratio
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-675-SC-2026
- Tax Payer : Sanand Properties P. Ltd
Income tax Appellate Tribunal
ITAT: Quashes penalty u/s 271D as time-barred; Date of reference by AO triggers penalty initiation
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-674-ITAT-2026(HYD)
- Tax Payer : Smitha Aailaboyina
Income tax Appellate Tribunal
ITAT: First proviso to Sec. 68 applies to companies & not partnership firms; Affirms deletion of addition
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-672-ITAT-2026(Mum)
- Tax Payer : P Vijaykumar & CO
Income tax Appellate Tribunal
ITAT: Interest paid directly to lenders not taxable in loan facilitator’s hands; Disallows TDS credit
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-671-ITAT-2026(Bang)
- Tax Payer : Bharath Bail
Income tax Appellate Tribunal
ITAT: CIT(A) not obliged to seek remand report while exercising powers u/s 250(4); Upholds interest exemption
May 12, 2026
- In Favour of Assessee
- Citation Number : TS-670-ITAT-2026(DEL)
- Tax Payer : National Association of Software and Service Companies
High Court
HC: Statutory definition of Jt. Commissioner includes Addl. Commissioner for penalty approval; Rejects narrow interpretation
May 12, 2026
- In Favour of Revenue
- Citation Number : TS-669-HC-2026(KER)
- Tax Payer : The Service Cooperative Bank Limited