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Income tax Appellate Tribunal

ITAT: No requirement to acquire entire land in one go u/s 80IB(10); Allows proportionate deduction

May 28, 2026
  • In Favour of Assessee
  • Citation Number : TS-775-ITAT-2026(DEL)
  • Tax Payer : Mahagun (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: AO unjustified in invoking Sec.154 for changing character of income accepted during scrutiny assessment

May 28, 2026
  • In Favour of Assessee
  • Citation Number : TS-774-ITAT-2026(Ahd)
  • Tax Payer : Sudarshan Status Corporation
Income tax Appellate Tribunal

ITAT: Quashes refund adjustment against stayed demand; Restricts adjustment to 20% of demand

May 28, 2026
  • In Favour of Assessee
  • Citation Number : TS-732-ITAT-2026(Mum)
  • Tax Payer : Mondelez India Foods Private Limited
Income tax Appellate Tribunal

ITAT: GP addition cannot be applied on both sales & purchases; Double taxation impermissible

May 28, 2026
  • In Favour of Assessee
  • Citation Number : TS-760-ITAT-2026(Mum)
  • Tax Payer : Oneworld Design Studio Private Limited
Income tax Appellate Tribunal

ITAT: Rejects mechanical application of Rule 11UA(1)(c)(b); Remits capital gains recomputation

May 28, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-773-ITAT-2026(CHNY)
  • Tax Payer : Rajasehar Buvaneswari
Income tax Appellate Tribunal

ITAT: Upholds Sec. 69A addition on unexplained seized cash; Rejects delayed jurisdictional objection

May 28, 2026
  • In Favour of Revenue
  • Citation Number : TS-768-ITAT-2026(DEL)
  • Tax Payer : Inderpal Bansal
Income tax Appellate Tribunal

ITAT: Cannot treat cash deposits during demonetization out of sales as ‘unexplained sources’; Deletes addition u/s 69A

May 28, 2026
  • In Favour of Assessee
  • Citation Number : TS-772-ITAT-2026(Ahd)
  • Tax Payer : Krishna Petroleum
Income tax Appellate Tribunal

ITAT: Sets aside CIT(A) order passed overlooking pending HC writs in Breach Candy Trust case

May 28, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-744-ITAT-2026(Mum)
  • Tax Payer : Breach Candy Hospital Trust
Income tax Appellate Tribunal

ITAT: Incriminating material not required on issuance of Sec. 148 notice; Rejects narrow reading of Sec. 170

May 28, 2026
  • In Favour of Revenue
  • Citation Number : TS-770-ITAT-2026(Kol)
  • Tax Payer : Action Tie-up Pvt. ltd
Income tax Appellate Tribunal

ITAT: Allows Sec. 80-IB deduction on scrap sales, forex gains, sundry write-backs derived from manufacturing activity

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-759-ITAT-2026(Mum)
  • Tax Payer : Hitech Corporation Limited
Income tax Appellate Tribunal

ITAT: SCN u/s 251 mandatory when CIT(A) enhances disallowance of Sec. 80P(2) deduction

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-761-ITAT-2026(Mum)
  • Tax Payer : New Bombay Co-operative Commercial Premises Society Ltd
Income tax Appellate Tribunal

ITAT: Prior rejection doesn't bar subsequent Sec. 80G approval application; Rejects order treating Form 10AB non-est

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-766-ITAT-2026(Bang)
  • Tax Payer : Mohammediya Educational Trust
Income tax Appellate Tribunal

ITAT: Publication of books for youth, an educational activity, not hit by proviso to Sec. 2(15); Grants benefit u/s 11&12

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-765-ITAT-2026(Bang)
  • Tax Payer : Rashtrotthana Sahitya and Mudrana Trust
Income tax Appellate Tribunal

ITAT: Deletes penalty for under-reporting citing AO’s failure to mention specific limb of fault u/s 270A

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-719-ITAT-2026(Ahd)
  • Tax Payer : Ansh Organisers Private Limited
Income tax Appellate Tribunal

ITAT: Interest received on fixed deposit of subsidy, a business income, eligible for deduction u/s 80IB(11)

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-764-ITAT-2026(Rjt)
  • Tax Payer : Shreenath Spediaters Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Income is taxable when right to receive accrues, not merely on actual receipt; Deletes addition

May 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-763-ITAT-2026(Rjt)
  • Tax Payer : Vishal Mahendrabhai Modi (HUF)
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