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Income tax Appellate Tribunal

ITAT: Registered deed not mandatory for Sec. 54 deduction; Remands matter for verification

May 22, 2026
  • In Favour of Revenue
  • Citation Number : TS-738-ITAT-2026(HYD)
  • Tax Payer : Prasanna Lakshmi Chakka
Income tax Appellate Tribunal

ITAT: No rule permits substituting land cost with market value for Sec. 80-IB(10) calculation

May 22, 2026
  • In Favour of Assessee
  • Citation Number : TS-740-ITAT-2026(CHNY)
  • Tax Payer : Baashyam Constructions-Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 56(2)(x) addition as stamp-duty valuation difference within retrospective 10% tolerance

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-736-ITAT-2026(Mum)
  • Tax Payer : Manjit Singh Baxisingh Dev
Income tax Appellate Tribunal

ITAT: Remands taxability issue awaiting CBDT decision on Assessee’s Section 10(46) notification application

May 21, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-734-ITAT-2026(Mum)
  • Tax Payer : Fees Regulating Authority
Income tax Appellate Tribunal

ITAT: Surrender of tenancy rights constitutes capital asset transfer, consideration not taxable as IoS

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-728-ITAT-2026(Mum)
  • Tax Payer : Dinesh Gulab Mirchandani
Income tax Appellate Tribunal

ITAT: Sec. 14A disallowance restricted to investment yielding exempt income; Hypothetical basis impermissible

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-720-ITAT-2026(LKW)
  • Tax Payer : Care Detergents Private Limited
Income tax Appellate Tribunal

ITAT: Deletes Sec. 201(1A) demand, holds no FTS sans transfer of technical know-how to Assessee

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-735-ITAT-2026(Kol)
  • Tax Payer : Chowringhee Residency Pvt. ltd
Income tax Appellate Tribunal

ITAT: Deletes disallowance of inventory valuation adjustment as consistently followed under AS-2

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-733-ITAT-2026(Bang)
  • Tax Payer : Fervour Retail India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Venial & technical omission cannot automatically result in penalty u/s 43 of Black Money Act

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-731-ITAT-2026(CHNY)
  • Tax Payer : Kumar Ramanathan
Income tax Appellate Tribunal

ITAT: Complete documentary evidence negates bogus LTCG allegation; Deletes Sec. 69A addition

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-730-ITAT-2026(Mum)
  • Tax Payer : Jitendra Udaylal Jain
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s power under Finance Act 2024 to remand best judgment assessment orders u/s 144

May 21, 2026
  • In Favour of Assessee
  • Citation Number : TS-729-ITAT-2026(DEL)
  • Tax Payer : Sudhir Kumar
Income tax Appellate Tribunal

ITAT: ITAT: Rejects first time exemption claim u/s 11&12 in returns filed in response to notice u/s 148, sans original return

May 20, 2026
  • In Favour of Revenue
  • Citation Number : TS-726-ITAT-2026(CHANDI)
  • Tax Payer : The Punjab State Board of Technical Education & Industrial Training
Income tax Appellate Tribunal

ITAT: ITAT: Reassessment vitiated due to non-application of independent mind & borrowed satisfaction

May 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-727-ITAT-2026(Ahd)
  • Tax Payer : Chandrakant Kantilal Patel (HUF)
High Court

HC: HC: Telephone & car expenses having nexus with company’s business, not of personal nature; Deletes disallowance u/s 37(1)

May 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-724-HC-2026(DEL)
  • Tax Payer : Raunaq International Ltd
Income tax Appellate Tribunal

ITAT: ITAT: No ‘under-reporting’ u/s 270A when assessed income equals income disclosed u/s 148; Quashes penalty

May 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-725-ITAT-2026(DEL)
  • Tax Payer : Pravesh Aggarwal
Income tax Appellate Tribunal

ITAT: Quashes Sec. 270A penalty order passed in laconic manner sans consideration of complex legal issue

May 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-722-ITAT-2026(NAG)
  • Tax Payer : Ajay Maheshwari
Income tax Appellate Tribunal

ITAT: ITAT: Sec. 234C interest not leviable before commencement of business operations and income accrual; Remands for re-computation

May 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-721-ITAT-2026(Mum)
  • Tax Payer : Capgemini IT Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Cadila Pharma subject to pre-amended Sec. 35(2AB) for AY 2013-14; Deduction not restricted to Form 3CL amount

May 19, 2026
  • In Favour of Assessee
  • Citation Number : TS-718-ITAT-2026(Ahd)
  • Tax Payer : Cadila Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Pass-through JV entity eligible for Sec. 80IA deduction; Direct government contracts not necessary

May 19, 2026
  • In Favour of Assessee
  • Citation Number : TS-717-ITAT-2026(HYD)
  • Tax Payer : Navayuga Engineering Company Limited
Income tax Appellate Tribunal

ITAT: Acquired business workforce by TV Today, 'intangible asset' eligible for depreciation; Allows migration fee as revenue expenditure

May 19, 2026
  • In Favour of Assessee
  • Citation Number : TS-716-ITAT-2026(DEL)
  • Tax Payer : T.V. Today Network Limited