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Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Initial burden to prove benami on Revenue, onus shifts once prima facie case established

  • In Favour of Revenue
  • Citation Number : TS-1047-PBPTAT-2026(DEL)
  • Tax Payer : Nirmal Katyal HUF
Income tax Appellate Tribunal

ITAT: Amount transferred by Sun Pharma to DRR, provision for ascertained liability, not reserve for computation u/s 115JB

  • In Favour of Assessee
  • Citation Number : TS-1046-ITAT-2026(Ahd)
  • Tax Payer : Sun Pharma Laboratories Ltd
Income tax Appellate Tribunal

ITAT: Assignment/sale of rent receivable not borrowings u/s 2(28A) & 36(1)(iii), as no liability to repay; TDS order unsustainable

  • In Favour of Assessee
  • Citation Number : TS-1045-ITAT-2026(CHNY)
  • Tax Payer : OPC Asset Solutions Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Derivative loss not speculative loss u/s 73(4) explanation; Deletes disallowance, treating as business loss

  • In Favour of Both, Partially
  • Citation Number : TS-1044-ITAT-2026(DEL)
  • Tax Payer : RAAG Vihar Apartments Private Limited
Income tax Appellate Tribunal

ITAT: Sec. 54 exemption covers multiple houses constructed up to number of houses sold, not restricted to one residential house

  • In Favour of Assessee
  • Citation Number : TS-1043-ITAT-2026(Bang)
  • Tax Payer : Pavan Kumar Agarwal
Income tax Appellate Tribunal

ITAT: Extends stay of demand of approx Rs. 10,833 Cr. to Xiaomi India, citing delay in appeal disposal not attributable to Assessee

  • In Favour of Assessee
  • Citation Number : TS-1042-ITAT-2026(Bang)
  • Tax Payer : Xiaomi Technology India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Unregistered agreement valid for Sec. 50C if banking channel payments proved; Holds Sec. 50C provisos apply retrospectively

  • In Favour of Assessee
  • Citation Number : TS-1041-ITAT-2026(CHNY)
  • Tax Payer : Aroumougam Pragalanadane
Income tax Appellate Tribunal

ITAT: Additions on unaccounted cash investment must follow documented share ratio; Rejects arbitrary 1/3rd allocation

  • In Favour of Assessee
  • Citation Number : TS-1040-ITAT-2026(Ahd)
  • Tax Payer : Deepak Shankarlal Patel
Income tax Appellate Tribunal

ITAT: Reverse indexation/time-gap method permissible for computing cost of acquisition where old records unavailable

  • In Favour of Assessee
  • Citation Number : TS-1039-ITAT-2026(Bang)
  • Tax Payer : GPFE Hosuing Co-operative Society Ltd
Income tax Appellate Tribunal

ITAT: Repetition of error in revised return not conclusive of misreporting/under-reporting; Deletes Sec. 270A penalty

  • In Favour of Assessee
  • Citation Number : TS-1038-ITAT-2026(Mum)
  • Tax Payer : Monji Vishram Pharmaceuticals Pvt. Ltd
Income tax Appellate Tribunal

ITAT: No statutory cost mechanism for TDR/DRC transfers prior to FA 2023 amendment; Rejects capital gains taxability

  • In Favour of Assessee
  • Citation Number : TS-1037-ITAT-2026(CHNY)
  • Tax Payer : Thiruponithurai Narayanan Chandrashekar
Income tax Appellate Tribunal

ITAT: Capital reduction not akin to share buy-back, entire arrangement not colourable device; Deletes addition u/s 115QA & 115P

  • In Favour of Assessee
  • Citation Number : TS-1036-ITAT-2026(DEL)
  • Tax Payer : Seaview Developers Private Limited
Income tax Appellate Tribunal

ITAT: Community origin can't deny Bengali-Assessee's HUF benefits; Rejects Revenue's community-based exclusion

  • In Favour of Assessee
  • Citation Number : TS-1035-ITAT-2026(DEL)
  • Tax Payer : Devranjan Mittra
Income tax Appellate Tribunal

ITAT: Late revised return no ground to deny loss carry forward & set-off when original return timely filed

  • In Favour of Assessee
  • Citation Number : TS-1034-ITAT-2026(Bang)
  • Tax Payer : Balachandra Joshi
High Court

HC: PCIT’s perfunctory rejection of Form 10DA delay condonation violates Sec.119(2)(b) genuine-hardship statutory mandate

  • In Favour of Assessee
  • Citation Number : TS-1029-HC-2026(GUJ)
  • Tax Payer : HAQ STEELS PVT LTD
Income tax Appellate Tribunal

ITAT: Confirms additions of 0.05% of total credit as bank account utilized for routing accommodation entries

  • In Favour of Revenue
  • Citation Number : TS-1033-ITAT-2026(Mum)
  • Tax Payer : Nirmal Purshotam Bhatia
Income tax Appellate Tribunal

ITAT: Allows Sec.80P deduction on interest income of cooperative society; Distinguishes Totgars Co-operative ruling

  • In Favour of Assessee
  • Citation Number : TS-1031-ITAT-2026(Bang)
  • Tax Payer : Sri Sai Souhardha Credit Cooperative Ltd.
Income tax Appellate Tribunal

ITAT: Section 56(2)(x) inapplicable to stamp-duty differential on rural agricultural land acquired for proposed solar project

  • In Favour of Assessee
  • Citation Number : TS-1032-ITAT-2026(Mum)
  • Tax Payer : Shree Swami Samarth Solar Park Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Cannot tax separate amenities/maintenance charges as rental income due to premises being let out, taxable as business income

  • In Favour of Assessee
  • Citation Number : TS-1028-ITAT-2026(DEL)
  • Tax Payer : Leon Realtors Pvt
Income tax Appellate Tribunal

ITAT: Sec. 80G approval denial unjustified sans factual finding of religious activities; Rejects selective interpretation of MOA clause

  • In Favour of Assessee
  • Citation Number : TS-1027-ITAT-2026(CHANDI)
  • Tax Payer : Christian Medical College Ludhiana Society