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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
Income tax Appellate Tribunal

ITAT: ITAT: Real net winnings taxable u/s 115BBJ, not amount credited to wallet for gameplay, as no real income or accretion

  • In Favour of Assessee
  • Citation Number : TS-1162-ITAT-2026(Bang)
  • Tax Payer : Arakere Channappa Vishwanath
Income tax Appellate Tribunal

ITAT: Absence of DIN doesn't invalidate approval u/s 153D post Sec. 292BC retro amendment; Rejects conditional approval plea

  • In Favour of Revenue
  • Citation Number : TS-1160-ITAT-2026(HYD)
  • Tax Payer : Clarion Agro Products Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Quashes assessment as time-barred for non-availability of DVO report, no extension available for making DVO reference

  • In Favour of Assessee
  • Citation Number : TS-1159-ITAT-2026(DEL)
  • Tax Payer : Consolidated Finvest And Holdings Limited
Income tax Appellate Tribunal

ITAT: ITAT: Invalid sanction cannot be validated retroactively; Quashes reassessment as Sec. 151 proviso amendment prospective

  • In Favour of Assessee
  • Citation Number : TS-1156-ITAT-2026(SUR)
  • Tax Payer : Hiteshkumar Poptabhai Borad
Supreme Court

SC: SC: Ancillary services don't alter carriage nature; Affirms Sec. 44B presumptive tax for Star Cruise operations

  • In Favour of Assessee
  • Citation Number : TS-1155-SC-2026
  • Tax Payer : Star Cruises (India) P. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Deletes Sec. 40(a)(ia) disallowance on cost-to-cost reimbursement of distributor employee expenses sans income element

  • In Favour of Assessee
  • Citation Number : TS-1153-ITAT-2026(Mum)
  • Tax Payer : Everest Food Products Private Limited
Income tax Appellate Tribunal

ITAT: Nova Scotia Bank's interest income from funds placed in overseas banks, not deemed accrual in India u/s 9(1)(v)

  • In Favour of Assessee
  • Citation Number : TS-1154-ITAT-2026(Mum)
  • Tax Payer : The Bank of Nova Scotia
Income tax Appellate Tribunal

ITAT: ITAT: Executive search fees under independent service agreement not royalty under India-Netherlands DTAA

  • In Favour of Assessee
  • Citation Number : TS-1150-ITAT-2026(Mum)
  • Tax Payer : Spencer Stuart International B.V.