Direct tax Weekly Digest

Weekly Digest #32 09 Aug to 17 Aug 2026 8 Rulings

High Court HC: Quashes CIT(A), ITAT orders on incorrect tax computation; Directs fresh Sec. 234B interest calculation

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1227-HC-2026(DEL)

Income tax Appellate Tribunal ITAT: Sets aside Sec. 271B penalty for F&O turnover verification under ICAI Guidance Note; Remits back for denovo adjudication

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1240-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: TDS deduction or payer’s accounting treatment cannot establish accrual of income sans any proof of services rendered; Deletes addition

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1243-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Deletes disallowance of depreciation on goodwill against Capgemini, as transaction not a colorable device

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1246-ITAT-2026(PUN)

Income tax Appellate Tribunal ITAT: Outstanding trade liability recorded in books sans any write off or remission, not cessation u/s 41(1)

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1247-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Deletes Sec. 69A protective addition for seized jewellery, as already substantively assessed in owner’s hands

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1242-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Upholds Sec. 263 revision for AO's failure to invoke Sec. 69A/69B on undisclosed investment & cash

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1225-ITAT-2026(PAT)

Income tax Appellate Tribunal ITAT: Disallowance u/s 43B unsustainable on unclaimed GST liability in profit & loss account

Aug 17, 2026

In Favour of : Assessee
Citation Number : TS-1244-ITAT-2026(Bang)

Weekly Digest #31 02 Aug to 08 Aug 2026 10 Rulings

Income tax Appellate Tribunal ITAT: No TDS on payment to Indian PE due to loss return, attracts retrospective second-proviso protection; Deletes Sec. 40(a)(i) disallowance

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1199-ITAT-2026(Bang)

Income tax Appellate Tribunal ITAT: Sets aside Sec. 12AB rejection as activities commenced during pendency & condonation request remained unconsidered

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1198-ITAT-2026(Bang)

Income tax Appellate Tribunal ITAT: Sole executor’s estate taxable u/s 168(1)(a) at individual slab rates, not MMR, on will verification

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1211-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Satellite transponder services payments, not royalty; Sophisticated technology use insufficient to characterise payment as royalty

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1209-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Assessment invalid due to mechanical approval u/s 153D; Sec. 292BC retro amendment inapplicable to approval before April 2021

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1210-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Upholds validity of reassessment; Rejects non-service of Sec.143(2) notice & non-mentioning of DIN plea

Aug 08, 2026

In Favour of : Revenue
Citation Number : TS-1196-ITAT-2026(HYD)

Income tax Appellate Tribunal ITAT: Rejection of appeal solely for non-appearance without addressing merits, unsustainable; Quashes CIT(A) order

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1203-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Non-issuance of Sec.143(2) notice a 'foundational infirmity', quashes reassessment

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1201-ITAT-2026(PUN)

Income tax Appellate Tribunal ITAT: Deletes Sec. 43CA addition as pre-enactment agreement & substantial consideration received despite subsequent registration

Aug 08, 2026

In Favour of : Assessee
Citation Number : TS-1197-ITAT-2026(JPR)

Income tax Appellate Tribunal ITAT: Allows depreciation on goodwill & non-compete fees as revenue expenditure, generated out of slump sale

Aug 07, 2026

In Favour of : Assessee
Citation Number : TS-1206-ITAT-2026(Mum)

Weekly Digest #30 26 Jul to 01 Aug 2026 7 Rulings

High Court HC: Quashes reassessment against NRI sans issuance of draft assessment order u/s 144C; Cites AO lacks jurisdiction

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1157-HC-2026(BOM)

High Court HC: HC: Deletes Sec. 10A deduction disallowance as higher margin alone insufficient to establish profit-inflation arrangement

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1167-HC-2026(BOM)

Income tax Appellate Tribunal ITAT: Quashes reassessment for AY 2015-16, cites third-fourth proviso exclusions cannot revive time-barred proceedings

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1165-ITAT-2026(COCH)

Income tax Appellate Tribunal ITAT: ITAT: Restores year-end provision disallowance for de novo verification for Maersk India; Subsequent party-wise break-up alone insufficient

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1158-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Quashes Sec. 153C notice for AY 2015-16; 6-year period reckons from AO’s receipt of incriminating material

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1164-ITAT-2026(VIZ)

Income tax Appellate Tribunal ITAT: Deletes Sec. 68 addition on share premium where investor identity, creditworthiness & genuineness is established

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1161-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: ITAT: Mechanical approval u/s 153D, vitiates assessment; Sec. 292BC retro amendment inapplicable to approval before April 2021

Aug 01, 2026

In Favour of : Assessee
Citation Number : TS-1166-ITAT-2026(DEL)

Weekly Digest #29 20 Jul to 25 Jul 2026 8 Rulings

High Court HC: Directs issue of reduced TDS certificate to Schlumberger basis consistent past approach; Quashes Sec. 197 certificate

Jul 25, 2026

In Favour of : Assessee
Citation Number : TS-1121-HC-2026(DEL)

Income tax Appellate Tribunal ITAT: Holds transportation to students as commercial activity, not charitable u/s 2(15); Rejects Sec. 12AB registration

Jul 25, 2026

In Favour of : Revenue
Citation Number : TS-1119-ITAT-2026(CHANDI)

Income tax Appellate Tribunal ITAT: Denies Sec. 80GGC deduction as political donation remains unproved; Accommodation-entry evidence outweighs bank payment

Jul 25, 2026

In Favour of : Revenue
Citation Number : TS-1120-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: ITAT: Omission to exclude stock-in-trade under Rule 8D(2)(iii), rectifiable mistake apparent from record u/s 254

Jul 25, 2026

In Favour of : Assessee
Citation Number : TS-1122-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Holds Malaysian Software purchase not royalty under DTAA; Sec. 195 TDS provision inapplicable

Jul 25, 2026

In Favour of : Assessee
Citation Number : TS-1118-ITAT-2026(HYD)

Income tax Appellate Tribunal ITAT: Allows expenditure incurred on ESOP u/s 37(1); Follows Biocon ruling

Jul 25, 2026

In Favour of : Assessee
Citation Number : TS-1117-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Deletes estimated forex loss disallowance against Vodafone Idea where revenue nature is proven & capital-related fluctuation capitalised

Jul 25, 2026

In Favour of : Assessee
Citation Number : TS-1110-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Loss arising on restatement liability, capital in nature not revenue; Upholds disallowance of foreign exchange fluctuation loss

Jul 25, 2026

In Favour of : Revenue
Citation Number : TS-1123-ITAT-2026(CHNY)

Weekly Digest #28 12 Jul to 18 Jul 2026 7 Rulings

High Court HC: Sec. 54F deduction cannot be denied for construction delay beyond 3 years, as not in Assessee’s control

Jul 18, 2026

In Favour of : Assessee
Citation Number : TS-1077-HC-2026(TEL)

High Court HC: Sets-aside reassessment notice as barred by limitation u/s 149(1) following Rajeev Bansal; Quashes reassessment

Jul 18, 2026

In Favour of : Assessee
Citation Number : TS-1076-HC-2026(MAD)

Income tax Appellate Tribunal ITAT: Restores matter on allowability of expenses on cessation of branch office, sans expense details

Jul 18, 2026

In Favour of : Both, Partially
Citation Number : TS-1073-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Rejects condonation of 2300 days delay due to gross negligence, defective authority documents & absence of bona fide sufficient cause

Jul 18, 2026

In Favour of : Assessee
Citation Number : TS-1070-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Grants Sec. 12A registration to vocational society despite lack of affiliation sans profit motive

Jul 18, 2026

In Favour of : Assessee
Citation Number : TS-1074-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Quashes reassessment u/s 148 solely based on third party search material bypassing procedure u/s 153C

Jul 18, 2026

In Favour of : Assessee
Citation Number : TS-1075-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Not supplying Sec. 133(6) responses to Assessee, violation of priciple of natural justice; Restore matter

Jul 17, 2026

In Favour of : Assessee
Citation Number : TS-1067-ITAT-2026(Mum)

Weekly Digest #27 05 Jul to 11 Jul 2026 7 Rulings

High Court HC: PCIT’s perfunctory rejection of Form 10DA delay condonation violates Sec.119(2)(b) genuine-hardship statutory mandate

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1029-HC-2026(GUJ)

Income tax Appellate Tribunal ITAT: Charging for treatment doesn't liquidate charity; Rejects cancellation of Sec 12AB registration of Breach Candy Trust

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1018-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Sec. 80G approval denial unjustified sans factual finding of religious activities; Rejects selective interpretation of MOA clause

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1027-ITAT-2026(CHANDI)

Income tax Appellate Tribunal ITAT: Cannot tax separate amenities/maintenance charges as rental income due to premises being let out, taxable as business income

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1028-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Section 56(2)(x) inapplicable to stamp-duty differential on rural agricultural land acquired for proposed solar project

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1032-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Allows Sec.80P deduction on interest income of cooperative society; Distinguishes Totgars Co-operative ruling

Jul 11, 2026

In Favour of : Assessee
Citation Number : TS-1031-ITAT-2026(Bang)

Income tax Appellate Tribunal ITAT: Confirms additions of 0.05% of total credit as bank account utilized for routing accommodation entries

Jul 11, 2026

In Favour of : Revenue
Citation Number : TS-1033-ITAT-2026(Mum)

Weekly Digest #26 28 Jun to 04 Jul 2026 8 Rulings

High Court HC: Draft assessment order u/s 144B mandatory only for eligible Assessee; Upholds assessment order against partnership firm

Jul 04, 2026

In Favour of : Revenue
Citation Number : TS-981-HC-2026(KER)

High Court HC: Upholds Bata’s VRS/loss-of-salary TDS upon workmen failure to furnish Form 10E u/s 89 relief; Directs refund on fresh return

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-987-HC-2026(MAD)

High Court HC: Quashes reassessment notice u/s 148 as beyond permissible period of 10 years u/s 153A

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-978-HC-2026(GUJ)

Income tax Appellate Tribunal ITAT: Allows full debenture discount deduction in year of issue, rejects Revenue’s amortisation plea

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-988-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Restricts Sec. 69A addition on undisclosed bank credits to 8% profit element where withdrawals followed

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-976-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Restricts dividend distribution tax u/s Sec. 115-O on Swiss shareholder dividends to 10% under India-Switzerland DTAA

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-975-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Deletes addition towards alleged accommodation entry sans no corroborative evidence

Jul 04, 2026

In Favour of : Assessee
Citation Number : TS-989-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Denial of Sec. 11 exemption shall be restricted to extent of Sec. 13(3) violations

Jul 03, 2026

In Favour of : Assessee
Citation Number : TS-986-ITAT-2026(DEL)

Weekly Digest #25 21 Jun to 27 Jun 2026 6 Rulings

High Court HC: Quashes Sec. 271(1)(c) penalty as time-barred order giving effect rendered assessment proceedings abated

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-950-HC-2026(BOM)

High Court HC: Upholds Sec. 127 intra-city transfer of AO, as no prior hearing required; Rejects Assessee's procedural irregularity plea

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-943-HC-2026(TEL)

High Court HC: Assessment u/s 144B completed in undue haste against PwC, at fag end of limitation; Directs denovo adjudication

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-942-HC-2026(CAL)

High Court HC: Sets aside ITAT order for non-adjudication of non-compliance with Sec. 144B jurisdictional issue along with merits

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-948-HC-2026(BOM)

Income tax Appellate Tribunal ITAT: Deletes Sec. 69A cash deposit addition routed through suspicious society; Remits back for denovo adjudication

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-949-ITAT-2026(Ahd)

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

Jun 27, 2026

In Favour of : Assessee
Citation Number : TS-951-ITAT-2026(PUN)

Weekly Digest #24 14 Jun to 20 Jun 2026 6 Rulings

High Court HC: HC: Quashes reassessment on Sec. 80-IA deduction, as accepted during original assessment; Change of opinion impermissible

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-906-HC-2026(BOM)

High Court HC: HC: Remands Sec. 119(2)(b) condonation plea rejected mechanically by applying subsequent restrictive CBDT circular

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-910-HC-2026(KER)

Income tax Appellate Tribunal ITAT: ITAT: Application filed for registration u/s 80G(5) post-amendment valid, cites within timeframe as per CBDT circulars

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-888-ITAT-2026(ASR)

Income tax Appellate Tribunal ITAT: Restricts Sec. 69A cash-deposit addition to 15% being profit element from transport receipts; Gross turnover cannot be taxed

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-907-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: Restricts Sec. 69A addition on agricultural overdraft cash deposits to 50% sans contrary material/evidence

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-913-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: Partly deletes Sec. 69A addition; Cash already taxed in preceding AY cannot be taxed again

Jun 20, 2026

In Favour of : Assessee
Citation Number : TS-911-ITAT-2026(CHNY)

Weekly Digest #23 07 Jun to 13 Jun 2026 6 Rulings

High Court HC: Quashes Trial Court cognizance for non-hearing u/s 277A-278 tax evasion complaint; Non-compliance u/s 223(1) creates illegality

Jun 13, 2026

In Favour of : Assessee
Citation Number : TS-863-HC-2026(MAD)

Income tax Appellate Tribunal ITAT: Upholds Sec. 271(1)(c) penalty for undisclosed agricultural & interest income; Peace settlement cannot absolve liability

Jun 13, 2026

In Favour of : Revenue
Citation Number : TS-859-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: Upholds Sec. 68 addition on unexplained unsecured loan from bogus company; Assessee fails primary onus

Jun 13, 2026

In Favour of : Assessee
Citation Number : TS-864-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Sets aside order rejecting rectification on double taxation; Remands matter for limited adjudication

Jun 13, 2026

In Favour of : Assessee
Citation Number : TS-865-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Deletes bad-debt written off disallowance upon satisfaction of twin conditions u/s 36(1)(vii); Bona fide belief sufficient

Jun 13, 2026

In Favour of : Assessee
Citation Number : TS-871-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Undisclosed income addition solely based on third party statement sans opportunity of personal hearing, unsustainable

Jun 13, 2026

In Favour of : Assessee
Citation Number : TS-872-ITAT-2026(DEL)

Weekly Digest #22 31 May to 06 Jun 2026 7 Rulings

High Court HC: Upholds Sec. 69 addition on unexplained investment lacking transfer or ownership documents

Jun 06, 2026

In Favour of : Revenue
Citation Number : TS-822-HC-2026(MAD)

Income tax Appellate Tribunal ITAT: Denies Sec. 80P deduction for invalid belated ITR filed after completion of assessment

Jun 06, 2026

In Favour of : Revenue
Citation Number : TS-808-ITAT-2026(Bang)

Income tax Appellate Tribunal ITAT: Deletes penalty u/s 43 of BMA on foreign assets disclosed in Sec. 153C return sans addition

Jun 06, 2026

In Favour of : Assessee
Citation Number : TS-810-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Deletes Sec. 69A addition, validates demonetization-period cash as genuine business advances despite VAT non-compliance

Jun 06, 2026

In Favour of : Assessee
Citation Number : TS-824-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Bad debt write-off allowable u/s 36(1)(vii) & subsequent recovery doesn't preclude deduction

Jun 06, 2026

In Favour of : Assessee
Citation Number : TS-828-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Only embedded profit from bogus purchases can be added where genuineness of purchases are proved

Jun 06, 2026

In Favour of : Assessee
Citation Number : TS-829-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Unexplained cash addition solely on third party statement, unsustainable; Sec. 132(4A) presumption inapplicable sans corroboration, cross-examination

Jun 06, 2026

In Favour of : Assessee
Citation Number : TS-819-ITAT-2026(DEL)

Weekly Digest #21 24 May to 30 May 2026 6 Rulings

Income tax Appellate Tribunal ITAT: Upholds Sec. 54F deduction disallowance for non-compliance of two-year period on urban land; Remits matter for denovo adjudication

May 30, 2026

In Favour of : Revenue
Citation Number : TS-785-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Ex-gratia received under BSNL voluntary compensation scheme fully exempt u/s 10(10B)

May 30, 2026

In Favour of : Assessee
Citation Number : TS-780-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: Disallowance u/s 43B unsustainable on unclaimed GST liability in profit & loss account

May 30, 2026

In Favour of : Assessee
Citation Number : TS-779-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Deletes Sec. 56(2)(viib) addition for share premium on non-equity & preferential shares

May 30, 2026

In Favour of : Assessee
Citation Number : TS-778-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Quashes reassessment u/s 148 for bogus donations as notice issued beyond limitation & escaped income below Rs. 50 Lac

May 30, 2026

In Favour of : Assessee
Citation Number : TS-784-ITAT-2026(AGR)

Income tax Appellate Tribunal ITAT: Deletes Sec. 68 addition on unexplained sundry creditors, given unsecured loan repaid via banking channel & onus discharged

May 30, 2026

In Favour of : Assessee
Citation Number : TS-776-ITAT-2026(Ahd)

Weekly Digest #20 17 May to 23 May 2026 6 Rulings

Income tax Appellate Tribunal ITAT: Capital loss in intra-group transfer for Escorts Institute not artificial arrangement sans proof of fraudulent transfer

May 23, 2026

In Favour of : Assessee
Citation Number : TS-746-ITAT-2026(CHANDI)

Income tax Appellate Tribunal ITAT: Unaccounted income addition basis seized documents, third-party statement invalid, without cross-examination opportunity

May 23, 2026

In Favour of : Assessee
Citation Number : TS-747-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Upholds deemed dividend u/s 2(22)(e) on interest-bearing loan due to accumulated profits, no money-lending business

May 23, 2026

In Favour of : Revenue
Citation Number : TS-748-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Deletes unexplained share capital addition in Public Limited Company, as subscriber creditworthiness established

May 23, 2026

In Favour of : Assessee
Citation Number : TS-743-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Quashes reassessment based on borrowed satisfaction sans independent inquiry; Assessee discharged onus of unexplained loan

May 23, 2026

In Favour of : Assessee
Citation Number : TS-742-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Omission to specify exact limb u/s 270A, vitiates penalty proceedings; Deletes penalty for misreporting

May 23, 2026

In Favour of : Assessee
Citation Number : TS-694-ITAT-2026(CHNY)

Weekly Digest #19 10 May to 16 May 2026 9 Rulings

High Court HC: Procedural lapse in filing audit report in Form 10BB instead of Form 10B, cannot defeat entitlement of exemption u/s 12A

May 16, 2026

In Favour of : Assessee
Citation Number : TS-673-HC-2026(CAL)

High Court HC: Sets aside Sec. 154 order as barred by limitation, for absence of DIN & violation u/s 154(3)

May 16, 2026

In Favour of : Assessee
Citation Number : TS-706-HC-2026(CAL)

High Court HC: Quashes Sec. 270AA immunity rejection order sans established misrepresentation or suppression of facts

May 16, 2026

In Favour of : Assessee
Citation Number : TS-699-HC-2026(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Deletes penalty u/s 270A levied solely on third-party ledger entries sans corroborative evidence

May 16, 2026

In Favour of : Assessee
Citation Number : TS-705-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: Sec. 271(1)(c)/270A unsustainable merely on depreciation disallowance sans concealment or misreporting of income

May 16, 2026

In Favour of : Assessee
Citation Number : TS-707-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Allows Sec. 54B exemption on investment in new agricultural land despite non-deposit in capital gains account scheme

May 16, 2026

In Favour of : Assessee
Citation Number : TS-701-ITAT-2026(DDN)

Income tax Appellate Tribunal ITAT: Sec. 263 order on deemed dividend unsustainable where AO made due inquiry & order not erroneous

May 16, 2026

In Favour of : Assessee
Citation Number : TS-704-ITAT-2026(DEL)

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)

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)

Weekly Digest #18 03 May to 09 May 2026 6 Rulings

High Court HC: Quashes Sec. 143(2)/142(1) notice issued to Reliance as barred by limitation & issued in name of non-existing company

May 09, 2026

In Favour of : Assessee
Citation Number : TS-663-HC-2026(BOM)

High Court HC: Quashes criminal proceedings for lack of jurisdiction & absence of penalty u/s 271(f); Relies on K.C. Builder ruling

May 09, 2026

In Favour of : Assessee
Citation Number : TS-658-HC-2026(MAD)

High Court HC: Reassessment invalid basis change of opinion on issue accepted during original assessment u/s 143(3)

May 09, 2026

In Favour of : Assessee
Citation Number : TS-657-HC-2026(BOM)

Income tax Appellate Tribunal ITAT: Denies Sec. 54 exemption due to investment in ‘plinth’ instead of ‘residential property’ & failure to deposit unutilized gains in capital gains account

May 09, 2026

In Favour of : Assessee
Citation Number : TS-664-ITAT-2026(LKW)

Income tax Appellate Tribunal ITAT: Deletes Sec. 69 addition for unexplained investment, FMV & stamp duty difference below 10%

May 09, 2026

In Favour of : Assessee
Citation Number : TS-661-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: ITAT: Penalty proceedings u/s 270A ‘invalid’ sans recording of satisfaction in assessment order

May 09, 2026

In Favour of : Assessee
Citation Number : TS-656-ITAT-2026(CHNY)

Weekly Digest #17 26 Apr to 02 May 2026 7 Rulings

High Court HC: No disallowance u/s 40(a)(ia) warranted in cases of short deduction of tax at source

May 02, 2026

In Favour of : Assessee
Citation Number : TS-614-HC-2026(BOM)

High Court HC: Reassessment basis manual Form 10 filing, already examined in original assessment, sans tangible material impermissible

May 02, 2026

In Favour of : Assessee
Citation Number : TS-625-HC-2026(TEL)

High Court HC: Sec. 10B deduction cannot be capped at 19% sans conclusive evidence of EOU-sister concern arrangement to inflate profit

May 02, 2026

In Favour of : Assessee
Citation Number : TS-627-HC-2026(BOM)

Income tax Appellate Tribunal ITAT: ITAT: Myntra's receipts towards manpower support services from Flipkart not taxable as FTS sans ‘make available’ condition

May 02, 2026

In Favour of : Assessee
Citation Number : TS-626-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Sale proceeds from uprooted old rubber trees, constitutes agricultural income, exempt u/s 2(1A) & 10(1)

May 02, 2026

In Favour of : Assessee
Citation Number : TS-623-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: ITAT: One-time bonus paid to Chief Scientific Officer not part of scientific research, not eligible for deduction u/s 35(2AB)

May 02, 2026

In Favour of : Assessee
Citation Number : TS-624-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: ITAT: Disallowance u/s 14 not applicable without exempt income; Relies on SC judgment in Cheminvest

May 02, 2026

In Favour of : Assessee
Citation Number : TS-628-ITAT-2026(DEL)

Weekly Digest #16 19 Apr to 25 Apr 2026 7 Rulings

High Court HC: Quashes excess depreciation disallowance on genuine cinematographic film sale-leaseback transactions; Suspicion alone insufficient

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-587-HC-2026(MAD)

High Court HC: Condones 430 days bonafide delay in filing Form No. 10 sans statutory time limit; Adopts liberal & justice oriented approach

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-585-HC-2026(BOM)

High Court HC: Upholds PCIT order u/s 119(2)(b) rejecting 6 years condonation of over delay in filing ITR to claim refund; CBDT circular mandatory

Apr 25, 2026

In Favour of : Revenue
Citation Number : TS-584-HC-2026(KER)

High Court HC: Sets aside assessment order & consequential demand; Grants Assessee another opportunity of filing reply

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-582-HC-2026(DEL)

High Court HC: Sales tax subsidy received under State Government Scheme, non-taxable capital receipt, excluded from book profit u/s 115JB

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-578-HC-2026(CAL)

Income tax Appellate Tribunal ITAT: Condones Sec. 12A registration delay due to procedural lapses & interpretational confusion; Remits back for denovo adjudication

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-594-ITAT-2026(Ahd)

Income tax Appellate Tribunal ITAT: Allows Sec. 87A rebate on STCG u/s 111A where income below Rs. 7 Lac threshold

Apr 25, 2026

In Favour of : Assessee
Citation Number : TS-589-ITAT-2026(Rjt)

Weekly Digest #15 12 Apr to 18 Apr 2026 6 Rulings

High Court HC: Loan raising expenditure for repaying liabilities & statutory dues allowable; Cannot question Assessee’s commercial expediency

Apr 18, 2026

In Favour of : Assessee
Citation Number : TS-543-HC-2026(DEL)

Income tax Appellate Tribunal ITAT: Quashes reassessment u/s 148 sans signature or valid sanction; Unsigned approval vitiates jurisdiction

Apr 18, 2026

In Favour of : Assessee
Citation Number : TS-553-ITAT-2026(Rjt)

Income tax Appellate Tribunal ITAT: Deletes Sec. 68 addition on share capital as unsustainable on proven identity, creditworthiness & genuineness despite shareholder non-appearance

Apr 18, 2026

In Favour of : Assessee
Citation Number : TS-548-ITAT-2026(Kol)

Income tax Appellate Tribunal ITAT: Quashes reassessment due to incorrect ‘reasons to believe’ basis non-attributable penny stock transactions

Apr 18, 2026

In Favour of : Assessee
Citation Number : TS-552-ITAT-2026(Rjt)

Income tax Appellate Tribunal ITAT: Allows Sec. 80IC deduction despite delayed Form 10CCB due to technical omission

Apr 18, 2026

In Favour of : Assessee
Citation Number : TS-551-ITAT-2026(CHNY)

Income tax Appellate Tribunal ITAT: Upholds Sec. 68 addition on accommodation share capital sans Assessee’s failure to discharge primary onus

Apr 18, 2026

In Favour of :
Citation Number : TS-549-ITAT-2026(DEL)

Weekly Digest #14 05 Apr to 11 Apr 2026 8 Rulings

High Court HC: Interest on temporarily parked project funds, intrinsically linked to setup, non-taxable capital receipt

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-508-HC-2026(DEL)

High Court HC: Assessee entitled to new-tax regime benefits u/s 115BBA despite 13 days delay in filing Form 10IC; Substantive right prevails over procedural requirement

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-510-HC-2026(BOM)

Income tax Appellate Tribunal ITAT: Penalty u/s 271(1)(c) unsustainable due to inconsistency between initiation & final levy of penalty; Relies on Manjunatha Cotton judgment

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-509-ITAT-2026(HYD)

Income tax Appellate Tribunal ITAT: Cooperative society receiving interest from another society is eligible for deduction u/s 80P(2)(d)

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-504-ITAT-2026(Bang)

Income tax Appellate Tribunal ITAT: ITAT: TDS credit allowable despite timing mismatch between income recognition & deduction year, subject to verification

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-505-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Reassessment based on Investigation Wing report sans independent inquiry invalid

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-502-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Sec. 143(2) notice issued by non-jurisdictional AO renders assessment void ab initio

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-500-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Addition basis wrong classification in ITR due to inadvertent mistake, unsustainable

Apr 11, 2026

In Favour of : Assessee
Citation Number : TS-511-ITAT-2026(DEL)

Weekly Digest #13 29 Mar to 04 Apr 2026 8 Rulings

High Court HC: Capital gain on business assets to pass through Profit & Loss account, not reserves, for Section 115JB book profits

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-469-HC-2026(MAD)

Income tax Appellate Tribunal ITAT: Sec. 14A disallowance unsustainable on interest receipts between BNP Paribas HO & Branch basis 'mutuality principle'

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-470-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Sec. 68 additions in first year of operation unsustainable; Deletes addition as genuineness & creditworthiness satisfied

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-463-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Agreement date is "appointed date" for Sec. 50C valuation; Sec. 54 deduction allowable from date of registered transfer

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-468-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Quashes assessment due to time barred Sec. 143(2) notice; Limitation provision non-compliance, a substantive illegality

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-465-ITAT-2026(DEL)

Income tax Appellate Tribunal ITAT: Payment for project-specific architectural & consultancy services not FTS sans ‘make available’; No TDS liability

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-464-ITAT-2026(Mum)

Income tax Appellate Tribunal ITAT: Quashes Sec. 153C assessment based solely on third party document sans corroborative incriminating evidence

Apr 04, 2026

In Favour of : Assessee
Citation Number : TS-466-ITAT-2026(HYD)

Income tax Appellate Tribunal ITAT: Deletes Sec. 68 addition as Assessee sufficiently proved creditworthiness & genuineness of share capital

Apr 04, 2026

In Favour of :
Citation Number : TS-467-ITAT-2026(DEL)

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