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Income tax Appellate Tribunal

ITAT: No Sec. 69A addition where demonetization-deposits linked to recorded cash sales & available stock

  • In Favour of Assessee
  • Citation Number : TS-1476-ITAT-2026(Ahd)
  • Tax Payer : P Maneklal Soni & Co
Income tax Appellate Tribunal

ITAT: Advance tax payment, bona fide explanation excludes returned income from Sec. 270A under-reporting

  • In Favour of Assessee
  • Citation Number : TS-1474-ITAT-2026(PUN)
  • Tax Payer : Anant Cutting Edge Private Limited
Income tax Appellate Tribunal

ITAT: Disallowance beyond permissible scope of Sec. 143(1), if taxpayer voluntarily opts out of concessional tax regime u/s 115BAA

  • In Favour of Assessee
  • Citation Number : TS-1477-ITAT-2026(DEL)
  • Tax Payer : Kunstocom (India) Ltd
Income tax Appellate Tribunal

ITAT: CPC, as quasi-judicial authority, bound by jurisdictional HC decision; Allows Sec. 154 rectification

  • In Favour of Assessee
  • Citation Number : TS-1473-ITAT-2026(Bang)
  • Tax Payer : Happiest Minds Technologies Limited
Income tax Appellate Tribunal

ITAT: Interest awarded by USA arbitration, enforced by HC decree, is ‘judgement debt’, not taxable in India

  • In Favour of Assessee
  • Citation Number : TS-1475-ITAT-2026(DEL)
  • Tax Payer : Universal Tractor Holding LLC USA
Income tax Appellate Tribunal

ITAT: Govt.-approved valuer’s report cannot be rejected without pointing out defects; Allows indexed cost of improvement

  • In Favour of Assessee
  • Citation Number : TS-1472-ITAT-2026(Bang)
  • Tax Payer : Narmada Rajagopalan
Income tax Appellate Tribunal

ITAT: Upholds reopening based on Insight Portal information, rejects ‘borrowed satisfaction’ challenge

  • In Favour of Both, Partially
  • Citation Number : TS-1471-ITAT-2026(Ahd)
  • Tax Payer : Vineet Arya
Income tax Appellate Tribunal

ITAT: Seized material establishes ‘on money’ payment, upholds Rs. 12.50 lakh u/s 69 addition against builder

  • In Favour of Revenue
  • Citation Number : TS-1446-ITAT-2026(Mum)
  • Tax Payer : Harsha Ashok Bhambhani
Income tax Appellate Tribunal

ITAT: Revised tax audit report, return to be considered while reprocessing return; Confirms deletion of disallowance u/s 40(a)(ia)

  • In Favour of Assessee
  • Citation Number : TS-1468-ITAT-2026(Mum)
  • Tax Payer : Reliance Unicorn Enterprises Private Limited
Income tax Appellate Tribunal

ITAT: Preponderance of probabilities proves penny stock bogus transaction, denial of cross-examination irrelevant

  • In Favour of Both, Partially
  • Citation Number : TS-1470-ITAT-2026(Ahd)
  • Tax Payer : Hanumanprasad Lalchand Gupta
High Court

HC: “Undue haste rather recklessness”, sets aside seven ITAT orders in Patanjali case

  • In Favour of Assessee
  • Citation Number : TS-1469-HC-2026(DEL)
  • Tax Payer : Patanjali Ayurved Limited
Income tax Appellate Tribunal

ITAT: Affirms Sec. 68 addition on penny stocks, documentary evidence insufficient to establish genuineness

  • In Favour of Revenue
  • Citation Number : TS-1464-ITAT-2026(Mum)
  • Tax Payer : Kishor Shankar Bhoir
Income tax Appellate Tribunal

ITAT: Taxpayer’s bogus claim of deduction under Chapter VI-A justifies penalty u/s 271(1)(c)

  • In Favour of Revenue
  • Citation Number : TS-1467-ITAT-2026(PUN)
  • Tax Payer : Harish VitthalraO Kale
Income tax Appellate Tribunal

ITAT: 70% of flat sale proceeds not Assessee's income by overriding obligation; Rejects Revenue’s diversion of income plea

  • In Favour of Assessee
  • Citation Number : TS-1466-ITAT-2026(DEL)
  • Tax Payer : Goel Flexible Packaging Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Difference between amount invested & amount received to be “winnings”; Online player’s buy-in not an income

  • In Favour of Assessee
  • Citation Number : TS-1465-ITAT-2026(CHNY)
  • Tax Payer : Srither
High Court

HC: Quashes 17-year-old criminal prosecution over undisclosed locker despite Sec. 245H immunity bar

  • In Favour of Assessee
  • Citation Number : TS-1462-HC-2026(P & H)
  • Tax Payer : Jagtar Singh
Income tax Appellate Tribunal

ITAT: Upholds Rs. 8.54 Cr addition for unexplained SBN deposits u/s 68; Rejects double-addition plea

  • In Favour of Both, Partially
  • Citation Number : TS-1463-ITAT-2026(DEL)
  • Tax Payer : Onkar Jewellers Private Limited
High Court

HC: Substantial shareholding can't convert public company into private u/s 179; Revenue must establish director's gross neglect

  • In Favour of Assessee
  • Citation Number : TS-1461-HC-2026(GUJ)
  • Tax Payer : Ajay Surendra Patel
Income tax Appellate Tribunal

ITAT: Transferable development rights constitutes, a capital asset u/s 2(14), chargeable to ‘capital gains’ tax

  • In Favour of Revenue
  • Citation Number : TS-1460-ITAT-2026(Bang)
  • Tax Payer : Kamlesh Pukhraj Talera
High Court

HC: Declines to condone 1480-day delay; Reprimands Revenue for its 'utterly lethargic, tardy and indolent' conduct

  • In Favour of Assessee
  • Citation Number : TS-1459-HC-2026(CAL)
  • Tax Payer : Pricewaterhouse Coopers Pvt. Ltd.