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Rulings ( 15256 results )

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Income tax Appellate Tribunal

ITAT: Existing tenancy right revaluation as notional book entry, without fund inflow, not unexplained investment u/s 69

  • In Favour of Assessee
  • Citation Number : TS-1141-ITAT-2026(Mum)
  • Tax Payer : Hotel Mahalaxmi
Income tax Appellate Tribunal

ITAT: STT-paid LTCL set-off against non-STT LTCG permitted u/s 70, no restriction u/s 10(38)

  • In Favour of Assessee
  • Citation Number : TS-1140-ITAT-2026(Mum)
  • Tax Payer : Kushal Narendra Desai
Income tax Appellate Tribunal

ITAT: Land compensation paid to developer under overriding contractual obligation non-taxable; Deletes addition

  • In Favour of Assessee
  • Citation Number : TS-1138-ITAT-2026(DEL)
  • Tax Payer : Raeks Estates Developers Private Limited
Income tax Appellate Tribunal

ITAT: Sec. 54B deduction valid as Assessee proves mandatory two-year prior agricultural use of land

  • In Favour of Assessee
  • Citation Number : TS-1137-ITAT-2026(Ahd)
  • Tax Payer : Nitinbhai Kanubhai Patel
Income tax Appellate Tribunal

ITAT: Hindustan Petroleum’s dispensing units installed at retail outlets, eligible for investment allowance u/s 32AC

  • In Favour of Assessee
  • Citation Number : TS-1133-ITAT-2026(Mum)
  • Tax Payer : Hindustan Petroleum Corporation Limited
Income tax Appellate Tribunal

ITAT: Sans legislative provision, rejects Bank of America’s refund claim on wrongful TDS deduction

  • In Favour of Revenue
  • Citation Number : TS-1135-ITAT-2026(Mum)
  • Tax Payer : Bank of America
Income tax Appellate Tribunal

ITAT: Receipts from provision of credit rating services, not FTS, as no technical skill, knowhow made available

  • In Favour of Assessee
  • Citation Number : TS-1134-ITAT-2026(DEL)
  • Tax Payer : S & P Global Ratings Singapore Pte. Ltd
Income tax Appellate Tribunal

ITAT: Upholds validity of manually signed order under e-proceedings, in compliance with Sec. 282A provisions

  • In Favour of Revenue
  • Citation Number : TS-1130-ITAT-2026(Bang)
  • Tax Payer : SKF Engineering & Lubrication India Private Limited
Income tax Appellate Tribunal

ITAT: Holds interest on loan advanced to subsidiary SPV as commercially expedient, allowable u/s 36(1)(iii)

  • In Favour of Assessee
  • Citation Number : TS-1129-ITAT-2026(Mum)
  • Tax Payer : Turakhia Engineering Company Private Limited
Supreme Court

SC: Upholds disallowance of bogus share trading loss; Dismisses Assessee’s SLP

  • In Favour of Revenue
  • Citation Number : TS-1128-SC-2026
  • Tax Payer : Jajodia Finance Limited
Income tax Appellate Tribunal

ITAT: ITAT: Subsequent reassessment acceptance bars Revenue from disputing dealing error loss

  • In Favour of Assessee
  • Citation Number : TS-1127-ITAT-2026(Mum)
  • Tax Payer : Antique Stock Broking Limited
Income tax Appellate Tribunal

ITAT: Allows Assessee’s claim of rebate u/s 87A on tax payable on STCG, sans express statutory embargo

  • In Favour of Assessee
  • Citation Number : TS-1126-ITAT-2026(Mum)
  • Tax Payer : Sejal Paras Doshi
Income tax Appellate Tribunal

ITAT: Entity offering corresponding income to tax alone gets TDS credit; Denies credit to partner

  • In Favour of Both, Partially
  • Citation Number : TS-1125-ITAT-2026(Bang)
  • Tax Payer : Gerald Sequeira
Income tax Appellate Tribunal

ITAT: Restricts disallowance of marketing expenses; Deletes 200% penalty sans false entry & absence of evidence

  • In Favour of Both, Partially
  • Citation Number : TS-1124-ITAT-2026(Ahd)
  • Tax Payer : Globizz Synergy Private Limited
Income tax Appellate Tribunal

ITAT: Deletes estimated forex loss disallowance against Vodafone Idea where revenue nature is proven & capital-related fluctuation capitalised

  • In Favour of Assessee
  • Citation Number : TS-1110-ITAT-2026(Mum)
  • Tax Payer : Vodafone Idea Limited
Income tax Appellate Tribunal

ITAT: Allows expenditure incurred on ESOP u/s 37(1); Follows Biocon ruling

  • In Favour of Assessee
  • Citation Number : TS-1117-ITAT-2026(Mum)
  • Tax Payer : JM Financial Limited
Income tax Appellate Tribunal

ITAT: Holds Malaysian Software purchase not royalty under DTAA; Sec. 195 TDS provision inapplicable

  • In Favour of Assessee
  • Citation Number : TS-1118-ITAT-2026(HYD)
  • Tax Payer : VALUE LABS LLP
Income tax Appellate Tribunal

ITAT: Loss arising on restatement liability, capital in nature not revenue; Upholds disallowance of foreign exchange fluctuation loss

  • In Favour of Revenue
  • Citation Number : TS-1123-ITAT-2026(CHNY)
  • Tax Payer : Egger Pumps India Private Limited
Income tax Appellate Tribunal

ITAT: ITAT: Omission to exclude stock-in-trade under Rule 8D(2)(iii), rectifiable mistake apparent from record u/s 254

  • In Favour of Assessee
  • Citation Number : TS-1122-ITAT-2026(Mum)
  • Tax Payer : ICICI Bank Limited
High Court

HC: Directs issue of reduced TDS certificate to Schlumberger basis consistent past approach; Quashes Sec. 197 certificate

  • In Favour of Assessee
  • Citation Number : TS-1121-HC-2026(DEL)
  • Tax Payer : SCHLUMBERGERASIA SERVICESLIMITED REPRESENTED THROUGH ITSAUTHORIZED REPRESENTATIVEAMIT ARORA