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Rulings ( 14690 results )

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Income tax Appellate Tribunal

ITAT: Cooperative society receiving interest from another society is eligible for deduction u/s 80P(2)(d)

Apr 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-504-ITAT-2026(Bang)
  • Tax Payer : Hotel Maleekara Pattina Souharda Sahakaari Sangha Niyamitha
Income tax Appellate Tribunal

ITAT: Penalty u/s 271(1)(c) unsustainable due to inconsistency between initiation & final levy of penalty; Relies on Manjunatha Cotton judgment

Apr 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-509-ITAT-2026(HYD)
  • Tax Payer : Tulip Granites Pvt Ltd
High Court

HC: Assessee entitled to new-tax regime benefits u/s 115BBA despite 13 days delay in filing Form 10IC; Substantive right prevails over procedural requirement

Apr 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-510-HC-2026(BOM)
  • Tax Payer : Srivatsa Encivil Pvt. Ltd
High Court

HC: Interest on temporarily parked project funds, intrinsically linked to setup, non-taxable capital receipt

Apr 11, 2026
  • In Favour of Assessee
  • Citation Number : TS-508-HC-2026(DEL)
  • Tax Payer : VNG Automotive P. Ltd
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Benami transaction may emanate from disclosed/legitimate income; Illegal /unaccounted money existence not prerequisite

Apr 10, 2026
  • In Favour of Revenue
  • Citation Number : TS-507-PBPTAT-2026(DEL)
  • Tax Payer : Swagatma Enclave Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Remands Sec. 80P dispute for de novo adjudication due to PAN status error; Imposes cost on Assessee

Apr 10, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2026(Bang)
  • Tax Payer : Bhuvaneshwari Co-op. Credit Society Ltd
High Court

HC: Revised return replaces original for all purposes if filed without mala fide; Allows change in depreciation method

Apr 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-503-HC-2026(GUJ)
  • Tax Payer : Gujarat State Energy Generation Ltd
High Court

HC: Difference between face value & sale value of lottery tickets, not commission u/s 194G, not liable to TDS

Apr 10, 2026
  • In Favour of Assessee
  • Citation Number : TS-501-HC-2026(MAD)
  • Tax Payer : Martin Lottery Agencies Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Sec. 154 rectification proper remedy for errors in intimation u/s 143(1); Quashes appeal against assessment order

Apr 10, 2026
  • In Favour of Both, Partially
  • Citation Number : TS-499-ITAT-2026(Mum)
  • Tax Payer : Mahindra Steel Service Centre Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Jurisdictional issue can be raised at any stage of proceedings; Quashes assessment on wrong invocation of Sec. 147

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2026(Mum)
  • Tax Payer : Zubin Paul Driver
Income tax Appellate Tribunal

ITAT: ITAT: Procedural lapse cannot defeat the substantive claim; Allows benefit of concessional tax regime u/s 115BAA

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2026(Mum)
  • Tax Payer : Electronfab Engineering Pvt Ltd
High Court

HC: Sec. 142A doesn't empower AO to make reference to DVO for collection of information for reopening assessment

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-496-HC-2026(TEL)
  • Tax Payer : Legend Estates Pvt. Ltd
Income tax Appellate Tribunal

ITAT: ITAT: Quashes reassessment basis borrowed satisfaction & failure to obtain valid sanction u/s 151 from specified authority

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-495-ITAT-2026(Mum)
  • Tax Payer : Mathew Julius Menezes
Income tax Appellate Tribunal

ITAT: Deletes Sec. 43B disallowance on interest payable to co-operative society members

Apr 09, 2026
  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2026(Bang)
  • Tax Payer : Kome Koravadi VIvidoddesha Sahakari Sangha Niyamitha
Income tax Appellate Tribunal

ITAT: Commission on accommodation entries cannot be estimated on both purchases and sales

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-493-ITAT-2026(Mum)
  • Tax Payer : Samnik General Trading Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: 50% presumptive rate u/s 44ADA inapplicable to business correspondent; Upholds Sec. 44AD declaration

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-491-ITAT-2026(Mum)
  • Tax Payer : Manoj Rajaram Sharma
Income tax Appellate Tribunal

ITAT: Non-issuance of Sec. 143(2) notice doesn’t invalidate assessment proceedings pursuant to revision order

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-489-ITAT-2026(Bang)
  • Tax Payer : G Corp Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Sec. 263 jurisdiction validly exercised given assessment order ‘erroneous’ for absence of inquiry

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-492-ITAT-2026(CHANDI)
  • Tax Payer : Pavit Pal Singh
High Court

HC: HC: Intentional failure to disclose capital gains, concealment of income; Rejects inadvertent omission plea, confirms penalty

Apr 08, 2026
  • In Favour of Revenue
  • Citation Number : TS-490-HC-2026(MAD)
  • Tax Payer : Sarita Jain
High Court

HC: HC: No scope for fresh notices to reopen completed assessments u/s 170A(2)(a); Quashes notices

Apr 08, 2026
  • In Favour of Assessee
  • Citation Number : TS-488-HC-2026(BOM)
  • Tax Payer : Technoforce Solutions (I) Pvt. Ltd