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Income tax Appellate Tribunal

ITAT: ITAT: Each STPI unit of HCL technologies cannot be treated as separate undertaking for Sec. 10A benefit; Confirms addition

Apr 17, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-544-ITAT-2026(DEL)
  • Tax Payer : HCL Technologies Limited
Income tax Appellate Tribunal

ITAT: ITAT: Additional income offered in Sec. 148 return, not concealment; Deletes 271(1)(c) penalty

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-542-ITAT-2026(CHNY)
  • Tax Payer : Mangadu Natarajan Balasundharam
Income tax Appellate Tribunal

ITAT: ITAT: Addition based on uncorroborated & unsigned dump document seized in third party search, unsustainable

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-541-ITAT-2026(Rjt)
  • Tax Payer : RC Heights Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Concessional medical facilities extended to directors not hit by Sec. 13(1)(c), unless excessive or unreasonable

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2026(Mum)
  • Tax Payer : Shushrusha Gitizens Co Operative Hospital Limited
High Court

HC: HC: Substantial delay in recording satisfaction note cannot be construed as “immediately”; Quashes Sec. 153C proceedings

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-540-HC-2026(BOM)
  • Tax Payer : Nippon Life India Asset Management Limited
Income tax Appellate Tribunal

ITAT: Income from cultivation on leased land, seed production qualifies as ‘agricultural income’; Deletes addition

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2026(Rjt)
  • Tax Payer : Bombay Super Hybrid Seeds Limited
Income tax Appellate Tribunal

ITAT: Inextricable nexus between FD interest on bank guarantee & SRA project justifies capitalization; Deletes addition

Apr 16, 2026
  • In Favour of Assessee
  • Citation Number : TS-537-ITAT-2026(Mum)
  • Tax Payer : Shreenath Realtors
Income tax Appellate Tribunal

ITAT: ITAT: Fresh deduction claim at appellate stage cannot be rejected solely on grounds of delay or procedural lapse

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-534-ITAT-2026(Mum)
  • Tax Payer : Apar Industries Ltd
Income tax Appellate Tribunal

ITAT: Condones 19 days’ delay; Quashes reassessment sans live nexus between information & formation of belief

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2026(CHANDI)
  • Tax Payer : Rajeev Sardana
Income tax Appellate Tribunal

ITAT: ITAT: Sale of penny stock, sham transaction, LTCG ineligible for Sec. 10(38) exemption; Confirms Sec. 68 addition

Apr 15, 2026
  • In Favour of Revenue
  • Citation Number : TS-536-ITAT-2026(SUR)
  • Tax Payer : Rameshkumar Karsanbhai Patel
Income tax Appellate Tribunal

ITAT: Notice u/s 148 barred by limitation as per first proviso to Sec. 149; Quashes assessment order

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-533-ITAT-2026(HYD)
  • Tax Payer : Tulsi Dasari
Income tax Appellate Tribunal

ITAT: Deletes Sec. 68 addition where loan repayment wrongly treated as fresh unexplained credit

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-535-ITAT-2026(Mum)
  • Tax Payer : A P Trading Co.
Income tax Appellate Tribunal

ITAT: Invoking Sec. 68 based solely on shareholder company being struck-off, without infusion of funds, unjustified

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-532-ITAT-2026(Mum)
  • Tax Payer : Lan Finance Private Limited
Income tax Appellate Tribunal

ITAT: Additional claim cannot be denied on mere technicality; Tribunal vested with powers to entertain fresh claims

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-531-ITAT-2026(Mum)
  • Tax Payer : Oracle Financial Services Software Limited
Income tax Appellate Tribunal

ITAT: Minor variations in Form No. 10 not a ground to deny Sec. 11(2) benefit; Restores issue

Apr 15, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-527-ITAT-2026(Mum)
  • Tax Payer : Shree Tardeo Jain Swetamber Murti Pujak Sangh
Income tax Appellate Tribunal

ITAT: Rejects APMC commission agent’s TDS credit claim u/s 194Q as income belonged to farmers

Apr 15, 2026
  • In Favour of Revenue
  • Citation Number : TS-526-ITAT-2026(Ahd)
  • Tax Payer : Jivanbhai Somabhai Patel
Income tax Appellate Tribunal

ITAT: ITAT: CA status no bar to inadvertent mistakes; Quashes penalty u/s 271(1)(c) citing bonafide error

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-530-ITAT-2026(Mum)
  • Tax Payer : Gopalkrishna Narla Rao
High Court

HC: HC: Share buy-back is capital reduction, not acquisition of assets; Not taxable u/s 56(2)(x)

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-529-HC-2026(DEL)
  • Tax Payer : Globe Capital Market Ltd
High Court

HC: HC: Beneficial circular for delay condonation applies irrespective of specified AYs to avoid anomalous situations

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-528-HC-2026(DEL)
  • Tax Payer : VRG Electronics Pvt Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Additions in variation of SCN unsustainable, violates Sec. 144B(1)(xii); Deletes additions against Discovery Sales

Apr 15, 2026
  • In Favour of Assessee
  • Citation Number : TS-525-ITAT-2026(DEL)
  • Tax Payer : Discovery Sales