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Rulings ( 15329 results )

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Income tax Appellate Tribunal

ITAT: Form 26AS mismatch alone cannot justify extrapolated addition, if audited books substantially reconcile; Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-951-ITAT-2026(PUN)
  • Tax Payer : Honeywell Automation India Limited
Income tax Appellate Tribunal

ITAT: Stamp-duty value as on allotment date applies where part-payment preceded registration; Deletes Sec. 56(2)(x) addition

  • In Favour of Assessee
  • Citation Number : TS-947-ITAT-2026(Mum)
  • Tax Payer : Bhagwatilal Bhimshankar Joshi
Income tax Appellate Tribunal

ITAT: Business cash-deposits cannot be taxed u/s 69A merely because net profit is below Sec. 44AD 8% rate

  • In Favour of Assessee
  • Citation Number : TS-946-ITAT-2026(Mum)
  • Tax Payer : Somnath Janardan Waman
Income tax Appellate Tribunal

ITAT: Deduction u/s 11/12 allowed in subsequent AY cannot be disallowed in present AY; Remands matter to AO

  • In Favour of Assessee
  • Citation Number : TS-945-ITAT-2026(Ahd)
  • Tax Payer : Mota Gopnath Mahanj Ni Jagya
Income tax Appellate Tribunal

ITAT: Sec. 271AA penalty unsustainable on debatable international transactions; CIT(A) lacks jurisdiction for unrelated enhancements

  • In Favour of Assessee
  • Citation Number : TS-944-ITAT-2026(Mum)
  • Tax Payer : Posco Holdings Inc
Income tax Appellate Tribunal

ITAT: Bank credits in personal account, not undisclosed turnover, sans direct nexus between credits & business

  • In Favour of Assessee
  • Citation Number : TS-941-ITAT-2026(Ahd)
  • Tax Payer : Pankaj Jhumarmal Bothra
Income tax Appellate Tribunal

ITAT: CIT(A) cannot enhance income from sources unrelated to reassessment reasons; Deletes enhancement

  • In Favour of Assessee
  • Citation Number : TS-940-ITAT-2026(CHANDI)
  • Tax Payer : Ritu Chopra
Income tax Appellate Tribunal

ITAT: No TDS on cost-to-cost reimbursements to parent company; Deletes Sec. 40(a)(i) disallowances

  • In Favour of Assessee
  • Citation Number : TS-939-ITAT-2026(DEL)
  • Tax Payer : Horiba India Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Penalty u/s 271DA, quasi criminal proceeding requires strict compliance; Sans corroborative evidence quashes penalty

  • In Favour of Assessee
  • Citation Number : TS-938-ITAT-2026(HYD)
  • Tax Payer : Vasavi Developers
Income tax Appellate Tribunal

ITAT: ITAT: Interest receipts by Barclays from Nostro account with HO & overseas branches, not taxable in India

  • In Favour of Assessee
  • Citation Number : TS-937-ITAT-2026(Mum)
  • Tax Payer : Barclays Bank PLC
Income tax Appellate Tribunal

ITAT: ITAT: DRP directions binding in nature, no discretion for selective implementation; Remands matter

  • In Favour of Assessee
  • Citation Number : TS-936-ITAT-2026(DEL)
  • Tax Payer : Isha Kacker
Income tax Appellate Tribunal

ITAT: ITAT: Mckinsey’s receipts from ‘borrowed services’, neither FTS nor taxable as business profits, sans PE in India

  • In Favour of Assessee
  • Citation Number : TS-933-ITAT-2026(Mum)
  • Tax Payer : Mckinsey & Company Lme Limited
Income tax Appellate Tribunal

ITAT: ITAT: NRI must substantiate proximate travel expenses incurred wholly & exclusively for transfer; Remands claim

  • In Favour of Both, Partially
  • Citation Number : TS-930-ITAT-2026(Bang)
  • Tax Payer : Santanu Arun Nandi
Income tax Appellate Tribunal

ITAT: ITAT: Cannot rely on unaudited draft financials for valuation of unquoted equity shares under Rule 11UA

  • In Favour of Assessee
  • Citation Number : TS-932-ITAT-2026(CHNY)
  • Tax Payer : Geo Finanace Petroleum SA
Income tax Appellate Tribunal

ITAT: ITAT: Teaching professionals engaged as consultants, not employees, subject to TDS u/s 194J & not u/s 192

  • In Favour of Assessee
  • Citation Number : TS-931-ITAT-2026(COCH)
  • Tax Payer : Brilliant Study Centre Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Registration granted u/s 12A during pending assessment applies retrospectively to earlier AYs

  • In Favour of Assessee
  • Citation Number : TS-929-ITAT-2026(AGR)
  • Tax Payer : Shri 1008 Digambar Jain Atishay Kshetra Papoura Ji
Income tax Appellate Tribunal

ITAT: ITAT: Ignoring 'audi alteram partem maxim' renders revision order legally fragile, but curable defect; Restores issue

  • In Favour of Both, Partially
  • Citation Number : TS-928-ITAT-2026(AGR)
  • Tax Payer : Narendra Kumar
Income tax Appellate Tribunal

ITAT: ITAT: Quashes penalty u/s 271E as primary assessment proceedings being null & void, for lack of jurisdiction

  • In Favour of Assessee
  • Citation Number : TS-925-ITAT-2026(CHNY)
  • Tax Payer : Rathinam Viswanathan
Income tax Appellate Tribunal

ITAT: No Sec. 69A addition where cash deposits during demonetisation linked to recorded milk sales

  • In Favour of Assessee
  • Citation Number : TS-924-ITAT-2026(Mum)
  • Tax Payer : Pushpavati Janardhan Rao
Income tax Appellate Tribunal

ITAT: Quashes Sec. 68 addition on recycled accommodation entry, cites no evidence of fresh cash infusion

  • In Favour of Assessee
  • Citation Number : TS-921-ITAT-2026(Mum)
  • Tax Payer : Madhuban Motors Private Limited