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Rulings ( 15415 results )

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Income tax Appellate Tribunal

ITAT: Digital records in faceless regime highlight absence of AO’s verification, justifies PCIT’s Sec. 263 invocation

  • In Favour of Revenue
  • Citation Number : TS-146-ITAT-2026(Bang)
  • Tax Payer : Cisco Systems (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sixth proviso to Sec. 32(1)(ii) inapplicable as no succession of business u/s 170; Allows depreciation

  • In Favour of Assessee
  • Citation Number : TS-145-ITAT-2026(Bang)
  • Tax Payer : Edgeverve Systems Limited
High Court

HC: Quashes assessment due to non-consideration of Assessee’s personal hearing request; Directs compliance with SOP

  • In Favour of Assessee
  • Citation Number : TS-119-HC-2026(GUJ)
  • Tax Payer : Parmeshwar Trading Co. Shingala Pravinbhai Hardasbhai
Income tax Appellate Tribunal

ITAT: Deletes Sec. 271(1)(c) penalty on inadvertent claim of deduction u/s 80-IC sans tax evasion, due to higher MAT liability

  • In Favour of Assessee
  • Citation Number : TS-144-ITAT-2026(DEL)
  • Tax Payer : Aromatrix Flora (P) Ltd
Income tax Appellate Tribunal

ITAT: CIT(A) not empowered to set-aside ex-parte assessment sans adjudication of jurisdictional validity of reassessment

  • In Favour of Assessee
  • Citation Number : TS-143-ITAT-2026(CHANDI)
  • Tax Payer : Rajbirinder Singh Chahal
High Court

HC: Adjustment u/s 143(1) on denial of concessional tax u/s 115BAA sans show cause notice, unsustainable

  • In Favour of Assessee
  • Citation Number : TS-142-HC-2026(BOM)
  • Tax Payer : Bax India Ventures Pvt Ltd
Income tax Appellate Tribunal

ITAT: Appellate order in deceased Assessee’s name without substituting legal heir, null and void u/s 159

  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2026(LKW)
  • Tax Payer : Chhedi Lal
High Court

HC: Deletes Sec. 68 addition as Assessee sufficiently proved creditworthiness & genuineness of share capital

  • In Favour of Assessee
  • Citation Number : TS-141-HC-2026(CAL)
  • Tax Payer : Express Tradelink Pvt Ltd
High Court

HC: Settlement Commission lacks jurisdiction to reopen concluded settlement by rectification u/s 154 to levy Sec. 234B interest

  • In Favour of Assessee
  • Citation Number : TS-139-HC-2026(BOM)
  • Tax Payer : Sidharth Carbochem Products Ltd
Income tax Appellate Tribunal

ITAT: Assessee ineligible for Sec.80GGC deduction, as donation to political party ‘bogus’

  • In Favour of Assessee
  • Citation Number : TS-138-ITAT-2026(Mum)
  • Tax Payer : Prasad Siddharth Thorat
Supreme Court

SC: Copy of SC order remitting one batch of JAO-FAO cases to HC

  • In Favour of Assessee
  • Citation Number : TS-137-SC-2026
  • Tax Payer : Vandana Malhotra
Income tax Appellate Tribunal

ITAT: ITAT: Edelweiss Investment fund eligible for exemption u/s 10(23FBA),having separate PAN procedural; No independent AIF registration required

  • In Favour of Assessee
  • Citation Number : TS-136-ITAT-2026(Mum)
  • Tax Payer : Edelweiss Crossover Opportunities Fund
Income tax Appellate Tribunal

ITAT: Rigours for Sec. 41(1) invocation absent, as no cessation/remission of trading liability; Remands matter for verification

  • In Favour of Assessee
  • Citation Number : TS-135-ITAT-2026(Mum)
  • Tax Payer : Efkon India Private Limited
Income tax Appellate Tribunal

ITAT: Agreement date is "appointed date" for Sec. 50C valuation; Directs verification of agreement date SDV & consult DVO

  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2026(CHANDI)
  • Tax Payer : Monica Bibbly Sood
High Court

HC: Blind reliance on AO's finding, ignoring judicial precedents makes order unlawful; Directs issue of 2% certificate

  • In Favour of Assessee
  • Citation Number : TS-133-HC-2026(DEL)
  • Tax Payer : Branch Metrics Inc
Income tax Appellate Tribunal

ITAT: Agreement with partnership firm doesn't make Assessee agent of NRI partner u/s 163(1)(c); Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-132-ITAT-2026(HYD)
  • Tax Payer : Sai Pragathi Estates & Constructions Pvt. Limited
Income tax Appellate Tribunal

ITAT: Immovable property received under family settlement, not transfer, not taxable u/s 56(2)(vii)(b)

  • In Favour of Assessee
  • Citation Number : TS-131-ITAT-2026(DEL)
  • Tax Payer : Ratna Aggarwal
High Court

HC: Verified paper trail outweighs human probability test; Rejects Revenue's phantom entity theory

  • In Favour of Assessee
  • Citation Number : TS-130-HC-2026(CAL)
  • Tax Payer : Shipra Enclave Pvt Ltd
High Court

HC: HC: Rebukes Revenue’s callous approach; Slams CIT(A) & ITAT for ‘telescopic view’, not correcting AO

  • In Favour of Assessee
  • Citation Number : TS-129-HC-2026(DEL)
  • Tax Payer : International Buddhist Confederation
Income tax Appellate Tribunal

ITAT: ITAT: No business nexus, no deduction u/s 36(1)(iii): Disallows interest to Tata Chemicals on loans used to fund subsidiaries

  • In Favour of Assessee
  • Citation Number : TS-128-ITAT-2026(Mum)
  • Tax Payer : Tata Chemicals Ltd