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Rulings ( 15298 results )

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Income tax Appellate Tribunal

ITAT: CIT(A) power co-terminus with AO, must apply correct section when dissatisfied with transaction genuineness

  • In Favour of Revenue
  • Citation Number : TS-1181-ITAT-2026(Kol)
  • Tax Payer : Khushboo Shah
High Court

HC: Sale of flats taxable as ‘capital gains’, not ‘business income’ sans Assessee’s intention to carry on business

  • In Favour of Assessee
  • Citation Number : TS-1180-HC-2026(BOM)
  • Tax Payer : Aurum Ventures Private Limited
High Court

HC: Benami proceedings independent of tax clearance u/s Sec. 69; Sets aside Benami attachment order

  • In Favour of Assessee
  • Citation Number : TS-1179-HC-2026(RAJ)
  • Tax Payer : Alishan Complex Private Limited
Income tax Appellate Tribunal

ITAT: Sun Pharma’s LLP partnership rights are capital assets; Remands Rs. 263.69 Cr loss claim on transfer for fresh examination

  • In Favour of Both, Partially
  • Citation Number : TS-1178-ITAT-2026(Ahd)
  • Tax Payer : Sun Pharma Laboratories Ltd
Income tax Appellate Tribunal

ITAT: Voluntary withdrawal of excess depreciation claim before query negates penalty u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-1177-ITAT-2026(Mum)
  • Tax Payer : Pravara Renewable Energy Limited
High Court

HC: Sec. 276C(2) prosecution requires proof of wilful attempt & presence of mens rea; Cites no attempt to evade taxes

  • In Favour of Assessee
  • Citation Number : TS-1176-HC-2026(BOM)
  • Tax Payer : Dinar Tarcar Resources (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Maturity proceeds of foreign policy sourced from tax-paid funds non-taxable; Rejects BMA invocation

  • In Favour of Assessee
  • Citation Number : TS-1175-ITAT-2026(DEL)
  • Tax Payer : Sarvesh Naidu
High Court

HC: Judicial conscience 'shocked' by repeated release of matter, reads Rule 34 to ITAT

  • In Favour of Assessee
  • Citation Number : TS-1173-HC-2026(BOM)
  • Tax Payer : Rajesh R. Hemrajani
Income tax Appellate Tribunal

ITAT: Undisclosed land sale justifies reassessment; Confirms bad debt disallowance towards advances to sister concern

  • In Favour of Revenue
  • Citation Number : TS-1172-ITAT-2026(Mum)
  • Tax Payer : Rawassa Construction
Income tax Appellate Tribunal

ITAT: Joint property purchase with spouse doesn't restrict Sec. 54 exemption; Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-1171-ITAT-2026(Mum)
  • Tax Payer : Himanshu Manoranjan Bhatt
Income tax Appellate Tribunal

ITAT: Disallows depreciation & building expenses to Procter & Gamble basis area occupied by third party; Rental income taxable under IFHP

  • In Favour of Assessee
  • Citation Number : TS-1170-ITAT-2026(Mum)
  • Tax Payer : Procter & Gamble Home Products Private Limited
Income tax Appellate Tribunal

ITAT: Sec. 153C proceedings barred by Sec. 153C(3), where deemed date of initiation falls after April 1, 2021

  • In Favour of Assessee
  • Citation Number : TS-1168-ITAT-2026(Bang)
  • Tax Payer : Umapathy Srinivasa Gowda
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-1161-ITAT-2026(Mum)
  • Tax Payer : Divine Infracreation and Trading Private Limited
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-1164-ITAT-2026(VIZ)
  • Tax Payer : Nallagonda Venkata Lalitananda Vinay Kumar
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

  • In Favour of Assessee
  • Citation Number : TS-1158-ITAT-2026(Mum)
  • Tax Payer : Maersk India Private Limited
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-1165-ITAT-2026(COCH)
  • Tax Payer : Binu Joy Kondody
High Court

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

  • In Favour of Assessee
  • Citation Number : TS-1157-HC-2026(BOM)
  • Tax Payer : Sanket Vinayak Nagvekar
High Court

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

  • In Favour of Assessee
  • Citation Number : TS-1167-HC-2026(BOM)
  • Tax Payer : Persistent Systems Pvt Ltd
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-1166-ITAT-2026(DEL)
  • Tax Payer : Focus Industrial Resources Limited
Income tax Appellate Tribunal

ITAT: Flipkart’s ESOP re-purchase a taxable capital gain for employee, not perquisite

  • In Favour of Assessee
  • Citation Number : TS-1163-ITAT-2026(Bang)
  • Tax Payer : Pramod Kumar Jain