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Rulings ( 14622 results )

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Income tax Appellate Tribunal

ITAT: ITAT: Sec. 154 rectification proper remedy for errors in intimation u/s 143(1); Quashes appeal against assessment order

Apr 10, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-499-ITAT-2026(Mum)
  • Tax Payer : Mahindra Steel Service Centre Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Jurisdictional issue can be raised at any stage of proceedings; Quashes assessment on wrong invocation of Sec. 147

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2026(Mum)
  • Tax Payer : Zubin Paul Driver
Income tax Appellate Tribunal

ITAT: ITAT: Procedural lapse cannot defeat the substantive claim; Allows benefit of concessional tax regime u/s 115BAA

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2026(Mum)
  • Tax Payer : Electronfab Engineering Pvt Ltd
High Court

HC: Sec. 142A doesn't empower AO to make reference to DVO for collection of information for reopening assessment

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-496-HC-2026(TEL)
  • Tax Payer : Legend Estates Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Quashes reassessment basis borrowed satisfaction & failure to obtain valid sanction u/s 151 from specified authority

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-495-ITAT-2026(Mum)
  • Tax Payer : Mathew Julius Menezes
Income tax Appellate Tribunal

ITAT: Deletes Sec. 43B disallowance on interest payable to co-operative society members

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2026(Bang)
  • Tax Payer : Kome Koravadi VIvidoddesha Sahakari Sangha Niyamitha
Income tax Appellate Tribunal

ITAT: Commission on accommodation entries cannot be estimated on both purchases and sales

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-493-ITAT-2026(Mum)
  • Tax Payer : Samnik General Trading Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: 50% presumptive rate u/s 44ADA inapplicable to business correspondent; Upholds Sec. 44AD declaration

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-491-ITAT-2026(Mum)
  • Tax Payer : Manoj Rajaram Sharma
Income tax Appellate Tribunal

ITAT: Non-issuance of Sec. 143(2) notice doesn’t invalidate assessment proceedings pursuant to revision order

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-489-ITAT-2026(Bang)
  • Tax Payer : G Corp Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec. 263 jurisdiction validly exercised given assessment order ‘erroneous’ for absence of inquiry

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-492-ITAT-2026(CHANDI)
  • Tax Payer : Pavit Pal Singh
High Court

HC: HC: Intentional failure to disclose capital gains, concealment of income; Rejects inadvertent omission plea, confirms penalty

Apr 08, 2026
  • In Favour of Revenue
  • Citation Number : TS-490-HC-2026(MAD)
  • Tax Payer : Sarita Jain
High Court

HC: HC: No scope for fresh notices to reopen completed assessments u/s 170A(2)(a); Quashes notices

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-488-HC-2026(BOM)
  • Tax Payer : Technoforce Solutions (I) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Activities not profit driven, falls within the ambit of Sec. 2(15), entitled to exemption u/s 11/12

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-487-ITAT-2026(CHNY)
  • Tax Payer : ICT Academy of Tamil Nadu
High Court

HC: Interest income of Assessee-society, providing credit facilities to members, eligible for deduction u/s 80P(2)(a)(i)

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-486-HC-2026(TEL)
  • Tax Payer : The Ismailia Co-operative Credit Society Ltd
Income tax Appellate Tribunal

ITAT: Interest expense incurred for land acquisition part of business expenditure, correctly accounted in WIP; Deletes addition

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-485-ITAT-2026(Mum)
  • Tax Payer : Welkin Developers
Income tax Appellate Tribunal

ITAT: Deletes disallowance of trade incentive & brand promotion expenses against P&G, considering as revenue expense

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-484-ITAT-2026(Mum)
  • Tax Payer : Procter & Gamble Home Products Ltd
Income tax Appellate Tribunal

ITAT: Upholds 2% estimated commission addition on non-genuine client code modifications by MCX broker

Apr 07, 2026
  • In Favour of Revenue
  • Citation Number : TS-483-ITAT-2026(Ahd)
  • Tax Payer : Javerilal Oswal Commodities Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Disclosure of assets without explanation of source of acquisition; Remands for denovo adjudication

Apr 07, 2026
  • In Favour of Assessee
  • Citation Number : TS-479-ITAT-2026(DEL)
  • Tax Payer : Atanu Banerjee
Income tax Appellate Tribunal

ITAT: ITAT: Upholds addition of undisclosed contractual receipts reflected in Form 26AS; Rejects CCM accounting method

Apr 07, 2026
  • In Favour of Assessee
  • Citation Number : TS-482-ITAT-2026(DEL)
  • Tax Payer : Virgo Softech Limited
Income tax Appellate Tribunal

ITAT: Restores matter as it’s not ascertainable if Rule 46A was complied with by CIT(A)

Apr 07, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-462-ITAT-2026(Mum)
  • Tax Payer : Ameet Ashok Rajput