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Rulings ( 14719 results )

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Income tax Appellate Tribunal

ITAT: Restores issue of cancellation of Sec. 12AB registration sans mention of specific limb of ‘specified violation’

Apr 27, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-599-ITAT-2026(Mum)
  • Tax Payer : National Payments Corporation of India
Income tax Appellate Tribunal

ITAT: Write off of slow & non-moving inventory under AS-2, valid & legally sustainable; Deletes addition

Apr 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-598-ITAT-2026(DEL)
  • Tax Payer : Dalmia Bharat Ltd
Income tax Appellate Tribunal

ITAT: Trade receipts taxed in previous AY cannot be treated as unexplained credits; Deletes Sec. 68 addition

Apr 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-597-ITAT-2026(DEL)
  • Tax Payer : Jr. Jindal Infraprojects Pvt. Ltd
High Court

HC: Validates Sec. 153C proceedings, clarifies identity of "searched person" linked to satisfaction note

Apr 27, 2026
  • In Favour of Revenue
  • Citation Number : TS-596-HC-2026(KAR)
  • Tax Payer : C. R. Ram Mohan Raju
Income tax Appellate Tribunal

ITAT: Finds rural background & lack of guidance as reasonable cause, deletes Sec. 271B penalty

Apr 27, 2026
  • In Favour of Assessee
  • Citation Number : TS-595-ITAT-2026(Ahd)
  • Tax Payer : The Paroli Dudh Utpadak Sahakari Mandali
Income tax Appellate Tribunal

ITAT: Allows Sec. 87A rebate on STCG u/s 111A where income below Rs. 7 Lac threshold

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-589-ITAT-2026(Rjt)
  • Tax Payer : Jignesh Harjivanbhai Chikani
Income tax Appellate Tribunal

ITAT: Condones Sec. 12A registration delay due to procedural lapses & interpretational confusion; Remits back for denovo adjudication

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2026(Ahd)
  • Tax Payer : Navsarjan Education Trust
High Court

HC: Sales tax subsidy received under State Government Scheme, non-taxable capital receipt, excluded from book profit u/s 115JB

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-578-HC-2026(CAL)
  • Tax Payer : GRAPHITE INDIA LTD
High Court

HC: Upholds PCIT order u/s 119(2)(b) rejecting 6 years condonation of over delay in filing ITR to claim refund; CBDT circular mandatory

Apr 25, 2026
  • In Favour of Revenue
  • Citation Number : TS-584-HC-2026(KER)
  • Tax Payer : SURESH VELU ELLATHUKALATHIL
High Court

HC: Condones 430 days bonafide delay in filing Form No. 10 sans statutory time limit; Adopts liberal & justice oriented approach

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-585-HC-2026(BOM)
  • Tax Payer : Bombay Prathana Samaj
High Court

HC: Quashes excess depreciation disallowance on genuine cinematographic film sale-leaseback transactions; Suspicion alone insufficient

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-587-HC-2026(MAD)
  • Tax Payer : Vijay Shanthi Builders Ltd
High Court

HC: Sets aside assessment order & consequential demand; Grants Assessee another opportunity of filing reply

Apr 25, 2026
  • In Favour of Assessee
  • Citation Number : TS-582-HC-2026(DEL)
  • Tax Payer : Puneet Kanodia
Income tax Appellate Tribunal

ITAT: No legal provision precludes granting registration u/s 12AB after a prior denial; Remands matter for verification

Apr 24, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-593-ITAT-2026(Bang)
  • Tax Payer : KCR Foundation
Income tax Appellate Tribunal

ITAT: CIT(A) erred in upholding POEM addition merely due to Collegium order; Deletes addition of global income

Apr 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-592-ITAT-2026(Ahd)
  • Tax Payer : Best Oasis Limited
Income tax Appellate Tribunal

ITAT: Sec. 56(2)(x)(c) inapplicable to fresh share allotment or leasehold rights; Deletes addition based on dump documents

Apr 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2026(CHANDI)
  • Tax Payer : Torque Pharmaceuticals Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Utilization of borrowed funds doesn't alter investments character; Deletes addition as shares held as investments

Apr 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-590-ITAT-2026(Ahd)
  • Tax Payer : Kutir Navinchandra Patel
Income tax Appellate Tribunal

ITAT: Allows deduction to Tata Motors for provision of employee benefit schemes u/s 37 basis actuarial valuation

Apr 24, 2026
  • In Favour of Assessee
  • Citation Number : TS-588-ITAT-2026(Mum)
  • Tax Payer : Tata Motors Body Solutions Limited
Income tax Appellate Tribunal

ITAT: Cash gifts from family members reasonably explained; Systematic activity in bank statements justify partial relief

Apr 24, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-586-ITAT-2026(Mum)
  • Tax Payer : Shrenik Manish Mehta
Income tax Appellate Tribunal

ITAT: Sec. 153D approval granted on same day of AO’s application without examining material on record, mechanical & invalid

Apr 23, 2026
  • In Favour of Assessee
  • Citation Number : TS-583-ITAT-2026(DEL)
  • Tax Payer : JBM Auto System
High Court

HC: Confirms Trust's registration cancellation for abuse of funds, but clarifies retrospective effect impermissible

Apr 23, 2026
  • In Favour of Revenue
  • Citation Number : TS-581-HC-2026(MAD)
  • Tax Payer : Ponnaiyah Ramajeyathammal Educational And Charitable Trust