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

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

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

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

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

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

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

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

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

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

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

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

PMLA Round-Up - May, 2026

IBBI: Amends Personal Guarantors Insolvency Resolution Process Regulations; Mandates assets disclosure

IBBI: Introduces provision governing termination of voluntary liquidation proceedings

RBI: Withdraws investment limits for FPIs under General Route; Expands FAR 'specified securities'

RBI: Amends Cross Border Merger Regulations; Substitutes 'NCLT' with 'Competent Authority'

SC: Long-serving temporary status casual labourers cannot be denied pension despite absence of formal regularisation

SC: HCs must pronounce reserved judgments within three months; Issues binding guidelines under Article 142

SC: Non-release of convict after parole surety verification qualifies as ‘illegal detention’; Awards Rs. 11-lakh compensation

SC: Conviction can be based on uncorroborated approver testimony if found credible by Court

SC: Quashes Bank-Probationer’s termination; Employer cannot invoke ‘Unsatisfactory Performance’ to circumvent formal disciplinary proceedings

SC: Criminal proceedings after DRT-approved settlement amounts to abuse of process; Quashes case against borrowers

SC: Lawyers/Advocates must not advise filing of vexatious matrimonial complaint or false POCSO cases

SC: Implicit solicitation of bribe for subordinates attracts Sec. 7 PC Act; Restores FIR against PSI

SC: Upholds Bihar electoral roll revision, validates ECI’s limited citizenship inquiry powers