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Rulings ( 15004 results )

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Income tax Appellate Tribunal

ITAT: Rejects artificial project expenditure structures created to avoid Sec. 11(3)(d) restrictions; Upholds addition

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-876-ITAT-2026(Mum)
  • Tax Payer : D.L.Shah Trust For Applied Science, Technology, Arts And Philoso
Income tax Appellate Tribunal

ITAT: Upholds Sec. 40(a)(i) disallowance on foreign remittance by Indian PE to HO sans Sec. 195 compliance; Remits Sec.44C issue

Jun 15, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-877-ITAT-2026(HYD)
  • Tax Payer : Sheladia Associates INC
Income tax Appellate Tribunal

ITAT: No addition u/s 2(22)(e) for cash shortage in proprietary concern instead of company; Deletes addition

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-879-ITAT-2026(Bang)
  • Tax Payer : K P Nanjundi Vishwakarma
Income tax Appellate Tribunal

ITAT: No penalty imposable u/s 270A, if essential statutory mischief it seeks to address conspicuously absent

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-878-ITAT-2026(Mum)
  • Tax Payer : Besant Montesori School
High Court

HC: Allows Vedanta’s Sec. 37(1) deduction; Rejects Sec. 33ABA mandatory pre-deposit requirement

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-875-HC-2026(MAD)
  • Tax Payer : Vedanta Limited, (Successor in Interest to Cairn India Limited)
Income tax Appellate Tribunal

ITAT: Subsequent year violations cannot form basis for earlier year disallowance u/s 80IB(10)(f); Allows Rule 27 application

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-874-ITAT-2026(Ahd)
  • Tax Payer : Shreeji Associates Iscon House
Income tax Appellate Tribunal

ITAT: Holds Tribunal has inherent power to recall or review; Recalls order allowing Revenue’s MA

Jun 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-873-ITAT-2026(Mum)
  • Tax Payer : Unni Krishnan Vadakkedath Sugathan
Income tax Appellate Tribunal

ITAT: Undisclosed income addition solely based on third party statement sans opportunity of personal hearing, unsustainable

Jun 13, 2026
  • In Favour of Assessee
  • Citation Number : TS-872-ITAT-2026(DEL)
  • Tax Payer : Ahluwalia Contracts India Ltd
Income tax Appellate Tribunal

ITAT: Deletes bad-debt written off disallowance upon satisfaction of twin conditions u/s 36(1)(vii); Bona fide belief sufficient

Jun 13, 2026
  • In Favour of Assessee
  • Citation Number : TS-871-ITAT-2026(DEL)
  • Tax Payer : Bonanza Portfolio Limited
Income tax Appellate Tribunal

ITAT: Sets aside order rejecting rectification on double taxation; Remands matter for limited adjudication

Jun 13, 2026
  • In Favour of Assessee
  • Citation Number : TS-865-ITAT-2026(DEL)
  • Tax Payer : Chaudhary Pawan Singh Shiksha Samit
Income tax Appellate Tribunal

ITAT: Upholds Sec. 68 addition on unexplained unsecured loan from bogus company; Assessee fails primary onus

Jun 13, 2026
  • In Favour of Assessee
  • Citation Number : TS-864-ITAT-2026(DEL)
  • Tax Payer : Radicool Pharmaceuticals Private Limited
Income tax Appellate Tribunal

ITAT: Upholds Sec. 271(1)(c) penalty for undisclosed agricultural & interest income; Peace settlement cannot absolve liability

Jun 13, 2026
  • In Favour of Revenue
  • Citation Number : TS-859-ITAT-2026(CHNY)
  • Tax Payer : Narayanasamy Vijaykumar
High Court

HC: Quashes Trial Court cognizance for non-hearing u/s 277A-278 tax evasion complaint; Non-compliance u/s 223(1) creates illegality

Jun 13, 2026
  • In Favour of Assessee
  • Citation Number : TS-863-HC-2026(MAD)
  • Tax Payer : B. Siva
Income tax Appellate Tribunal

ITAT: Ad-hoc addition u/s 68 towards alleged discrepancy in TAR and ledger confirmations, unsustainable

Jun 12, 2026
  • In Favour of Assessee
  • Citation Number : TS-869-ITAT-2026(Mum)
  • Tax Payer : K K Group of Textile
Income tax Appellate Tribunal

ITAT: Higher rate u/s 206AA inapplicable as PAN timely regularized under CBDT circular; Deletes consequential demand u/s 200A

Jun 12, 2026
  • In Favour of Assessee
  • Citation Number : TS-870-ITAT-2026(Mum)
  • Tax Payer : Bela Rohit Shah
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