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Income tax Appellate Tribunal
ITAT: Sec. 14A amendment is prospective; Deletes notional interest addition, only real income taxable, not hypothetical
May 27, 2026
- In Favour of Assessee
- Citation Number : TS-762-ITAT-2026(DEL)
- Tax Payer : Aamby Valley City Ltd
Income tax Appellate Tribunal
ITAT: Substantial justice cannot be denied over mere technicalities; Condones delay in filing Form 10B
May 26, 2026
- In Favour of Assessee
- Citation Number : TS-758-ITAT-2026(AGR)
- Tax Payer : Vidhya Vati Mishra
Income tax Appellate Tribunal
ITAT: Mere abnormal increase in sales during demonetization period cannot justify addition u/s 69A
May 26, 2026
- In Favour of Assessee
- Citation Number : TS-757-ITAT-2026(Ahd)
- Tax Payer : Bharatji Designer Jewellery Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Purchaser's future use cannot determine land nature at sale date; Deletes LTCG addition
May 26, 2026
- In Favour of Assessee
- Citation Number : TS-756-ITAT-2026(Ahd)
- Tax Payer : Jignesh Harshadbhai Patel
Income tax Appellate Tribunal
ITAT: Alleged financial irregularities don't justify Sec. 12AB cancellation; Quashes PCIT’s order
May 26, 2026
- In Favour of Assessee
- Citation Number : TS-755-ITAT-2026(DEL)
- Tax Payer : G.D. Education Society
Income tax Appellate Tribunal
ITAT: Unsigned penalty notice is akin to 'body without soul'; Quashes notice citing defect cannot be cured by DIN
May 26, 2026
- In Favour of Assessee
- Citation Number : TS-754-ITAT-2026(Bang)
- Tax Payer : Dhiren Gopal
Income tax Appellate Tribunal
ITAT: Shifting expenses from rented to own premises, revenue expenditure, capitalization serves no purpose
May 25, 2026
- In Favour of Assessee
- Citation Number : TS-753-ITAT-2026(Bang)
- Tax Payer : NPR Auto Parts Manufacturing India Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Remands matter allowing trust to file Sec. 12AB registration; Directs Revenue to consider delay condonation
May 25, 2026
- In Favour of Assessee
- Citation Number : TS-752-ITAT-2026(Bang)
- Tax Payer : Karnataka State Foot Ball Association
Income tax Appellate Tribunal
ITAT: Difference in view cannot lead to invocation of proceedings u/s 263; Quashes revision against Asian Paints
May 25, 2026
- In Favour of Assessee
- Citation Number : TS-751-ITAT-2026(Mum)
- Tax Payer : Asian Paints Limited
Income tax Appellate Tribunal
ITAT: Orders penalty recomputation by reducing Sec. 143(1)(a) income from assessed income
May 25, 2026
- In Favour of Assessee
- Citation Number : TS-750-ITAT-2026(Ahd)
- Tax Payer : Arjun Green Power Private Limited
Income tax Appellate Tribunal
ITAT: Unclaimed expenditure embedded in WIP cannot be disallowed u/s 40(a)(ia)
May 25, 2026
- In Favour of Assessee
- Citation Number : TS-749-ITAT-2026(Mum)
- Tax Payer : Orbit Ventures Developers
Income tax Appellate Tribunal
ITAT: Quashes reassessment based on borrowed satisfaction sans independent inquiry; Assessee discharged onus of unexplained loan
May 23, 2026
- In Favour of Assessee
- Citation Number : TS-742-ITAT-2026(DEL)
- Tax Payer : Peakwood Reality Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Deletes unexplained share capital addition in Public Limited Company, as subscriber creditworthiness established
May 23, 2026
- In Favour of Assessee
- Citation Number : TS-743-ITAT-2026(DEL)
- Tax Payer : OK Play India Ltd
Income tax Appellate Tribunal
ITAT: Omission to specify exact limb u/s 270A, vitiates penalty proceedings; Deletes penalty for misreporting
May 23, 2026
- In Favour of Assessee
- Citation Number : TS-694-ITAT-2026(CHNY)
- Tax Payer : Mangadu Natarajan Balasundharam
Income tax Appellate Tribunal
ITAT: Upholds deemed dividend u/s 2(22)(e) on interest-bearing loan due to accumulated profits, no money-lending business
May 23, 2026
- In Favour of Revenue
- Citation Number : TS-748-ITAT-2026(DEL)
- Tax Payer : International Management Technologies Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Unaccounted income addition basis seized documents, third-party statement invalid, without cross-examination opportunity
May 23, 2026
- In Favour of Assessee
- Citation Number : TS-747-ITAT-2026(DEL)
- Tax Payer : Sanjam Sayal
Income tax Appellate Tribunal
ITAT: Capital loss in intra-group transfer for Escorts Institute not artificial arrangement sans proof of fraudulent transfer
May 23, 2026
- In Favour of Assessee
- Citation Number : TS-746-ITAT-2026(CHANDI)
- Tax Payer : Escorts Heart Institute And Research Centre Ltd
Income tax Appellate Tribunal
ITAT: Date for determining holding period shall be date of final & binding allotment, not provisional allotment
May 22, 2026
- In Favour of Assessee
- Citation Number : TS-741-ITAT-2026(Mum)
- Tax Payer : Sunshine Exports Diamonds Pvt Ltd
Income tax Appellate Tribunal
ITAT: Deletes addition u/s 68 towards bogus purchases as sales were already afffected out of same purchases
May 22, 2026
- In Favour of Assessee
- Citation Number : TS-737-ITAT-2026(DEL)
- Tax Payer : SNT Agro Industries Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Rules GST refunds non-taxable if taxes not routed through P&L; Rejects Sec. 41(1) taxability
May 22, 2026
- In Favour of Assessee
- Citation Number : TS-739-ITAT-2026(Bang)
- Tax Payer : Dell International Services India Pvt. Ltd