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Rulings ( 15036 results )

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Income tax Appellate Tribunal

ITAT: Holds Sec. 148 notice barred by limitation u/s 149(1) following Rajeev Bansal; Quashes reassessment

May 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-697-ITAT-2026(CHNY)
  • Tax Payer : Subramanian Prabhakaran
Income tax Appellate Tribunal

ITAT: ITAT: Agricultural land, “immoveable property” falls within the ambit of Sec. 56(2)(x); Confirms addition

May 15, 2026
  • In Favour of Revenue
  • Citation Number : TS-695-ITAT-2026(SUR)
  • Tax Payer : Vinay Indersing Dhupia
Income tax Appellate Tribunal

ITAT: Source of investment proven through investor's direct confirmation & documentary evidence; Deletes Sec. 68 addition

May 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-693-ITAT-2026(DEL)
  • Tax Payer : MA Projects Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Dismisses plea of inapplicability of Sec. 40(a)(ia) for short TDS; Restricts disallowance to proportionate short deduction

May 14, 2026
  • In Favour of Revenue
  • Citation Number : TS-692-ITAT-2026(DEL)
  • Tax Payer : Pawan Hans Limited
Income tax Appellate Tribunal

ITAT: Cash deposits during demonetization period represent business receipts; Deletes addition u/s 69A

May 14, 2026
  • In Favour of Assessee
  • Citation Number : TS-691-ITAT-2026(CHNY)
  • Tax Payer : Pattapiraman Dinesh Kumar
Income tax Appellate Tribunal

ITAT: Evidence of bank withdrawals satisfactorily explains cash payment for LIC policy; Deletes addition u/s 69

May 14, 2026
  • In Favour of Assessee
  • Citation Number : TS-690-ITAT-2026(Mum)
  • Tax Payer : Manoj Kumar Agarwal
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: 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: 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: 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: 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: 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