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Income tax Appellate Tribunal

ITAT: Running play-school/kindergarten, falls in “education” u/s 2(15); Cites early childhood schooling as formal education system

Apr 20, 2026
  • In Favour of Assessee
  • Citation Number : TS-555-ITAT-2026(CHANDI)
  • Tax Payer : The Indian Institute of Model Education Society
Income tax Appellate Tribunal

ITAT: Upholds Sec. 68 addition on accommodation share capital sans Assessee’s failure to discharge primary onus

Apr 18, 2026
  • Citation Number : TS-549-ITAT-2026(DEL)
  • Tax Payer : Transnational Growth Fund Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 68 addition on share capital as unsustainable on proven identity, creditworthiness & genuineness despite shareholder non-appearance

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-548-ITAT-2026(Kol)
  • Tax Payer : Binapani Sales Private Limited
High Court

HC: Loan raising expenditure for repaying liabilities & statutory dues allowable; Cannot question Assessee’s commercial expediency

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-543-HC-2026(DEL)
  • Tax Payer : EBONY RETAIL HOLDINGS LTD
Income tax Appellate Tribunal

ITAT: Quashes reassessment u/s 148 sans signature or valid sanction; Unsigned approval vitiates jurisdiction

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-553-ITAT-2026(Rjt)
  • Tax Payer : Padmini Kalpesh Bavishi
Income tax Appellate Tribunal

ITAT: Quashes reassessment due to incorrect ‘reasons to believe’ basis non-attributable penny stock transactions

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-552-ITAT-2026(Rjt)
  • Tax Payer : Maheshbhai P. Balchandani
Income tax Appellate Tribunal

ITAT: Allows Sec. 80IC deduction despite delayed Form 10CCB due to technical omission

Apr 18, 2026
  • In Favour of Assessee
  • Citation Number : TS-551-ITAT-2026(CHNY)
  • Tax Payer : Pool Thevar Marimuthu
High Court

HC: Quashes & sets aside notice u/s 148 as beyond permissible period of 10 years as per Sec. 153A

Apr 17, 2026
  • In Favour of Assessee
  • Citation Number : TS-547-HC-2026(GUJ)
  • Tax Payer : West India Infratech Private Limited
High Court

HC: HC: Resorting to adjustment u/s 143(1)(a) on highly debatable issue, unjustified

Apr 17, 2026
  • In Favour of Assessee
  • Citation Number : TS-550-HC-2026(CHAT)
  • Tax Payer : Varsha Construction
Income tax Appellate Tribunal

ITAT: Inordinate delay quashes Sec. 153C proceedings despite primacy over pending reassessment u/s 147

Apr 17, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-546-ITAT-2026(DEL)
  • Tax Payer : Gurmukh Das
Income tax Appellate Tribunal

ITAT: ITAT: Must suffer tax consequences for allowing manipulation of funds by FIITJEE group; Taxes entire donation

Apr 17, 2026
  • In Favour of Revenue
  • Citation Number : TS-545-ITAT-2026(DEL)
  • Tax Payer : Commitment Morality Vision Education Society
Income tax Appellate Tribunal

ITAT: ITAT: Each STPI unit of HCL technologies cannot be treated as separate undertaking for Sec. 10A benefit; Confirms addition

Apr 17, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-544-ITAT-2026(DEL)
  • Tax Payer : HCL Technologies Limited
Income tax Appellate Tribunal

ITAT: ITAT: Additional income offered in Sec. 148 return, not concealment; Deletes 271(1)(c) penalty

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-542-ITAT-2026(CHNY)
  • Tax Payer : Mangadu Natarajan Balasundharam
Income tax Appellate Tribunal

ITAT: ITAT: Addition based on uncorroborated & unsigned dump document seized in third party search, unsustainable

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-541-ITAT-2026(Rjt)
  • Tax Payer : RC Heights Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Concessional medical facilities extended to directors not hit by Sec. 13(1)(c), unless excessive or unreasonable

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2026(Mum)
  • Tax Payer : Shushrusha Gitizens Co Operative Hospital Limited
High Court

HC: HC: Substantial delay in recording satisfaction note cannot be construed as “immediately”; Quashes Sec. 153C proceedings

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-540-HC-2026(BOM)
  • Tax Payer : Nippon Life India Asset Management Limited
Income tax Appellate Tribunal

ITAT: Income from cultivation on leased land, seed production qualifies as ‘agricultural income’; Deletes addition

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2026(Rjt)
  • Tax Payer : Bombay Super Hybrid Seeds Limited
Income tax Appellate Tribunal

ITAT: Inextricable nexus between FD interest on bank guarantee & SRA project justifies capitalization; Deletes addition

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-537-ITAT-2026(Mum)
  • Tax Payer : Shreenath Realtors
Income tax Appellate Tribunal

ITAT: ITAT: Fresh deduction claim at appellate stage cannot be rejected solely on grounds of delay or procedural lapse

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-534-ITAT-2026(Mum)
  • Tax Payer : Apar Industries Ltd
Income tax Appellate Tribunal

ITAT: Condones 19 days’ delay; Quashes reassessment sans live nexus between information & formation of belief

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2026(CHANDI)
  • Tax Payer : Rajeev Sardana