Tiger Roars, Tax Uncertainty Soars! - The Ultimate “Upside Down” Of International Tax Jurisprudence in India – Part 3

ITAT: Allows construction cost deduction basis treatment of co-owners; Rejects blanket disallowance by AO

• In Favour of Assessee
• Citation Number : TS-229-ITAT-2026(Bang)

Taxsutra Monthly TP Digest: Significant TP judgments for January 2026 by Dr. Sunil Moti Lala, Advocate, CA, LL.B, Ph.D.

HC: Quashes ‘perverse’ order staying fraud-classification proceedings against Anil Ambani; Allows BDO appeal

ITAT: Holds assembling as 'manufacture' since end product is commercially distinct; Allows Sec. 80-IC deduction

• In Favour of Assessee
• Citation Number : TS-228-ITAT-2026(CHNY)

ITAT: Income cannot be taxed again on sale deed registration if already offered to tax under POCM

• In Favour of Assessee
• Citation Number : TS-227-ITAT-2026(DEL)

SC: Dismisses appeals challenging Benami Act attachment during IBC moratorium

ITAT: Rejection of books of account not mandatory condition for invoking Sec. 69C; Restores matter

• In Favour of Assessee
• Citation Number : TS-226-ITAT-2026(RAI)

AAR: GST Registration not required in Rajasthan merely because place of supply located there

• In Favour of Applicant
• Citation Number : TS-1086-AAR(RAJ)-2025-GST

AAR: Compostable plastic bags taxable at 5%, conditional on biodegradability

• In Favour of Applicant
• Citation Number : TS-1085-AAR(RAJ)-2025-GST

HC: Quashes final-assessment passed sans draft order; Traces trajectory of events post PCIT order u/s.263

• In Favour of Assessee
• Citation Number : TS-191-HC-2026(GUJ)-TP

AAR: Paper bags taxable at 18%; Emphasizes strict interpretation of ‘biodegradable’

• In Favour of Applicant
• Citation Number : TS-1084-AAR(RAJ)-2025-GST

ITAT: Assessee’s first appeal cannot be dismissed on hyper technical ground of 65 days’ delay; Restores appeal

• In Favour of Assessee
• Citation Number : TS-224-ITAT-2026(Ind)

ITAT: Expresses displeasure over growing trend of non-compliance; Remands to AO but penalizes Assessee for non-cooperation

• In Favour of Assessee
• Citation Number : TS-225-ITAT-2026(Ind)

ITAT: ITAT: Assessee cannot go in ‘slumber mode’, must participate actively; Remands assessment to AO for re-adjudication

• In Favour of Assessee
• Citation Number : TS-223-ITAT-2026(Ind)

SEBI: Imposes Rs. 5 lakh penalty on Investment Adviser for operating with expired NISM certificate

SEBI: Allows settlement application filed by Delphi World Money for financial misstatements

ITAT: Keeps Rs.3.88 Cr demand in abeyance; Considers comparables' dispute, proposed "clarificatory" amendment on DIN

• In Favour of Assessee
• Citation Number : TS-188-ITAT-2026(Bang)-TP

ITAT: Admits additional grounds, remits them to AO to be adjudicated afresh

• In Favour of Assessee
• Citation Number : TS-185-ITAT-2026(Mum)-TP

ITAT: Adjudicates tested-party selection qua SDT of diamond-purchase, affirms CIT(A)'s relief

• In Favour of Assessee
• Citation Number : TS-187-ITAT-2026(Mum)-TP