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Income tax Appellate Tribunal
ITAT: ITAT: Deletes penalty u/s 270A levied solely on third-party ledger entries sans corroborative evidence
May 16, 2026
- In Favour of Assessee
- Citation Number : TS-705-ITAT-2026(CHNY)
- Tax Payer : Virinchipuram Radhakrishna Narayanan
High Court
HC: Quashes Sec. 270AA immunity rejection order sans established misrepresentation or suppression of facts
May 16, 2026
- In Favour of Assessee
- Citation Number : TS-699-HC-2026(DEL)
- Tax Payer : Airpay Money Private Limited
Income tax Appellate Tribunal
ITAT: Sec. 271(1)(c)/270A unsustainable merely on depreciation disallowance sans concealment or misreporting of income
May 16, 2026
- In Favour of Assessee
- Citation Number : TS-707-ITAT-2026(Mum)
- Tax Payer : Quant Transactional Services Private Limited
High Court
HC: Sets aside Sec. 154 order as barred by limitation, for absence of DIN & violation u/s 154(3)
May 16, 2026
- In Favour of Assessee
- Citation Number : TS-706-HC-2026(CAL)
- Tax Payer : Surajit Ghosh
High Court
HC: Procedural lapse in filing audit report in Form 10BB instead of Form 10B, cannot defeat entitlement of exemption u/s 12A
May 16, 2026
- In Favour of Assessee
- Citation Number : TS-673-HC-2026(CAL)
- Tax Payer : Howrah Heritage Society and Anr
Supreme Court
SC: Dismisses SLP against re-assessment despite assessee's fervent plea on warranty provision treatment
May 15, 2026
- In Favour of Assessee
- Citation Number : TS-702-SC-2026
- Tax Payer : Huawei Telecommunications (India) Company Pvt. Ltd
Income tax Appellate Tribunal
ITAT: ITAT: Deletes Sec. 56(2)(x) addition as Assessee not in possession of immovable property in relevant AY
May 15, 2026
- In Favour of Assessee
- Citation Number : TS-698-ITAT-2026(Mum)
- Tax Payer : Snchalata Heramb Dhayagude
Income tax Appellate Tribunal
ITAT: Gujarat Maritime Board entitled to exemption u/s 11/12 as services rendered within scope of charitable purpose
May 15, 2026
- In Favour of Assessee
- Citation Number : TS-696-ITAT-2026(Ahd)
- Tax Payer : Gujarat Maritime Board
Income tax Appellate Tribunal
ITAT: Holds Sec. 148 notice barred by limitation u/s 149(1) following Rajeev Bansal; Quashes reassessment
May 15, 2026
- In Favour of Assessee
- Citation Number : TS-697-ITAT-2026(CHNY)
- Tax Payer : Subramanian Prabhakaran
Income tax Appellate Tribunal
ITAT: ITAT: Agricultural land, “immoveable property” falls within the ambit of Sec. 56(2)(x); Confirms addition
May 15, 2026
- In Favour of Revenue
- Citation Number : TS-695-ITAT-2026(SUR)
- Tax Payer : Vinay Indersing Dhupia
Income tax Appellate Tribunal
ITAT: Source of investment proven through investor's direct confirmation & documentary evidence; Deletes Sec. 68 addition
May 15, 2026
- In Favour of Assessee
- Citation Number : TS-693-ITAT-2026(DEL)
- Tax Payer : MA Projects Pvt. Ltd
Income tax Appellate Tribunal
ITAT: ITAT: Dismisses plea of inapplicability of Sec. 40(a)(ia) for short TDS; Restricts disallowance to proportionate short deduction
May 14, 2026
- In Favour of Revenue
- Citation Number : TS-692-ITAT-2026(DEL)
- Tax Payer : Pawan Hans Limited
Income tax Appellate Tribunal
ITAT: Cash deposits during demonetization period represent business receipts; Deletes addition u/s 69A
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-691-ITAT-2026(CHNY)
- Tax Payer : Pattapiraman Dinesh Kumar
Income tax Appellate Tribunal
ITAT: Evidence of bank withdrawals satisfactorily explains cash payment for LIC policy; Deletes addition u/s 69
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-690-ITAT-2026(Mum)
- Tax Payer : Manoj Kumar Agarwal
Income tax Appellate Tribunal
ITAT: Grants benefit of enhanced exemption limit u/s 10(10AA)(ii) for leave encashment received on retirement
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-689-ITAT-2026(CHNY)
- Tax Payer : Balasubramanian Venkatachalaperumal
Income tax Appellate Tribunal
ITAT: ITAT: IMAX has no fixed place PE & no service PE sans fulfillment of 90 days threshold under India-Canada DTAA
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-688-ITAT-2026(DEL)
- Tax Payer : IMAX Theatre Services Ltd
Income tax Appellate Tribunal
ITAT: Provision for bank’s ‘standard assets’, mandated by RBI, allowable u/s 36(1)(viia)
May 14, 2026
- In Favour of Assessee
- Citation Number : TS-687-ITAT-2026(CHANDI)
- Tax Payer : Malwa Gramin Bank
Income tax Appellate Tribunal
ITAT: Quashes reassessment beyond 3-years given alleged escaped income below Rs. 50 lakh u/s 149(1)(b)
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-686-ITAT-2026(Bang)
- Tax Payer : Nikhil Chandran
Income tax Appellate Tribunal
ITAT: ITAT: Deletes penalty for misreporting citing AO’s failure to mention specific limb of fault u/s 270A
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-685-ITAT-2026(Bang)
- Tax Payer : Renil E K Kumar
Income tax Appellate Tribunal
ITAT: Undisclosed income addition basis WhatsApp chat sans Sec. 65B Evidence Act certification, unsustainable
May 13, 2026
- In Favour of Assessee
- Citation Number : TS-684-ITAT-2026(Mum)
- Tax Payer : Vikas Vilas Rasal