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Income tax Appellate Tribunal

ITAT: ITAT: Sustains penalty u/s 271D & 271E for journal entry loan violations on failure to explain reasonable cause u/s 273B

Jun 12, 2026
  • In Favour of Revenue
  • Citation Number : TS-868-ITAT-2026(Mum)
  • Tax Payer : Manjri Horse Breeders Farm Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Criticizes authorities for increasing obdurate recalcitrance by AO; Confirms denial of deduction u/s 54

Jun 12, 2026
  • In Favour of Assessee
  • Citation Number : TS-867-ITAT-2026(DEL)
  • Tax Payer : Surbhi Khandelwal
Income tax Appellate Tribunal

ITAT: ITAT: Addition u/s 69B basis differential amount between purchase & stamp duty value, unjustified

Jun 12, 2026
  • In Favour of Assessee
  • Citation Number : TS-866-ITAT-2026(Mum)
  • Tax Payer : Yellow Banana Food Company Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Sets aside revision order; Cites investment transaction as genuine, not sham, doesn't attract Sec. 94(7)

Jun 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-862-ITAT-2026(CHNY)
  • Tax Payer : Shresth Enclave Advisory Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Allows simultaneous exemptions u/s 10(23FB), 10(34), and 10(35) to Venture Capital Fund on dividend income

Jun 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-861-ITAT-2026(Mum)
  • Tax Payer : India Infrastructure Fund
Income tax Appellate Tribunal

ITAT: ITAT: Issuance of notice u/s 143(2), a mandatory requirement for completion of reassessment; Quashes reassessment

Jun 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-860-ITAT-2026(CHNY)
  • Tax Payer : Texcity Constructions Kovai Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Consideration for grant of development rights, taxable as capital gains, not IFoS

Jun 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-858-ITAT-2026(Mum)
  • Tax Payer : Sherlyn Dias (Legal heir of Late Mrs. Dorothy Lawrence Pereira)
Income tax Appellate Tribunal

ITAT: ITAT: Big is Beautiful; Reliance Hospital's charitable character unaffected by financial scale & tariffs

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-857-ITAT-2026(Mum)
  • Tax Payer : Reliance Foundation
Income tax Appellate Tribunal

ITAT: ITAT: Genuine share premium cannot be taxed u/s 68 merely over valuation doubts; Deletes addition

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-856-ITAT-2026(Mum)
  • Tax Payer : Diligent Media Corporation Limited
Income tax Appellate Tribunal

ITAT: ITAT: Sec. 50 fiction doesn't bar Sec. 74 loss adjustments; Allows Reliance Infrastructure to offset losses against gains

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-855-ITAT-2026(Mum)
  • Tax Payer : Reliance Infrastructure Limited
Income tax Appellate Tribunal

ITAT: GST cancellation on account of proprietor’s demise cannot be sole criteria for disallowance u/s 37

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-854-ITAT-2026(Ahd)
  • Tax Payer : K R Solvent LLP
Income tax Appellate Tribunal

ITAT: Allows expense deduction on issue of non-convertible/market linked debentures, u/s 37, as revenue expenditure

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-853-ITAT-2026(Mum)
  • Tax Payer : Nuvama Wealth Finance Limited
Income tax Appellate Tribunal

ITAT: Employment opportunities to economically weaker sections, is ‘relief of the poor’; Grants Registration u/s 80G(5)

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-852-ITAT-2026(CHNY)
  • Tax Payer : Dr. Soundram Trust
Income tax Appellate Tribunal

ITAT: Rendering web hosting services through automated facilities, not Royalty under Article 12 of India-US DTAA

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-847-ITAT-2026(CHNY)
  • Tax Payer : ZOHO Corporation
Income tax Appellate Tribunal

ITAT: Bad-debts recovery, originally written-off by amalgamating entities, falls within exception u/s 270A(6)(a); Deletes penalty

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-850-ITAT-2026(CHNY)
  • Tax Payer : Sundaram Finance Limited
Income tax Appellate Tribunal

ITAT: Allows related-party business development expenses given evidence establishes genuineness beyond suspicion

Jun 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-842-ITAT-2026(Mum)
  • Tax Payer : Riverside Industries Private Limited
Income tax Appellate Tribunal

ITAT: No doctrine of merger exists between orders u/s 143(1) vis-a-vis u/s 143(3), as Sec. 143(1), 143(3), & 144 operate Independently

Jun 10, 2026
  • In Favour of Revenue
  • Citation Number : TS-851-ITAT-2026(DEL)
  • Tax Payer : Marmo Home Private Limited
High Court

HC: Sec. 115BBE amendment, enhancing tax-rate to 60%, applies prospectively sans express language for retrospective effect

Jun 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-849-HC-2026(RAJ)
  • Tax Payer : Deepak Maratha
Income tax Appellate Tribunal

ITAT: Repayment of loan not taxable as unexplained expenditure u/s 69C sans P&L expense claim

Jun 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-841-ITAT-2026(Mum)
  • Tax Payer : M.A. Trading Products
Income tax Appellate Tribunal

ITAT: Ex-gratia severance compensation received upon employment termination a capital receipt, not taxable as salary

Jun 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-840-ITAT-2026(Mum)
  • Tax Payer : Swati Sameer Joshi