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Rulings ( 15569 results )

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Income tax Appellate Tribunal

ITAT: Provision for bank’s ‘standard assets’, mandated by RBI, allowable u/s 36(1)(viia)

  • 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)

  • 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

  • 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

  • In Favour of Assessee
  • Citation Number : TS-684-ITAT-2026(Mum)
  • Tax Payer : Vikas Vilas Rasal
Income tax Appellate Tribunal

ITAT: Appeal maintainable as falling within Circular No.5 exception; Accepts restriction of tax profit to 0.2%

  • In Favour of Assessee
  • Citation Number : TS-683-ITAT-2026(Mum)
  • Tax Payer : Shree Sundha Steels Private Limited
Income tax Appellate Tribunal

ITAT: Sec. 68 addition unsustainable on doubt regarding creditor’s capacity when Assessee proved transaction genuineness

  • In Favour of Assessee
  • Citation Number : TS-682-ITAT-2026(Mum)
  • Tax Payer : Rajdhani Textiles Private Limited
Income tax Appellate Tribunal

ITAT: Non-issuance of Sec.143(2) notice a 'foundational infirmity', fatal to reassessment

  • In Favour of Assessee
  • Citation Number : TS-681-ITAT-2026(LKW)
  • Tax Payer : Arun Kumar Maurya
Income tax Appellate Tribunal

ITAT: ITAT: Taxpayers can choose between DTAA or Act for each independent transaction; Allows Alibaba LTCG exemption

  • In Favour of Assessee
  • Citation Number : TS-680-ITAT-2026(Mum)
  • Tax Payer : ALIBABA. COM SINGAPORE E COMMERCE PRIVATE LIMITED
Income tax Appellate Tribunal

ITAT: No capital gains account deposit needed if funds utilized before filing belated return; Allows Sec. 54 deduction

  • In Favour of Both, Partially
  • Citation Number : TS-679-ITAT-2026(Mum)
  • Tax Payer : Mukesh Babulal Shah
Supreme Court

SC: SC: Interest on capital borrowed for subsidiary’s benefit is deductible business expenditure; Allows deduction u/s 36(1)(iii)

  • In Favour of Assessee
  • Citation Number : TS-678-SC-2026
  • Tax Payer : L.K. TRUST
Income tax Appellate Tribunal

ITAT: ITAT: No TDS obligation u/s 195 by Tata Industries on share purchase from non-resident shareholders; Follows Vodafone ruling

  • Citation Number : TS-677-ITAT-2026(Mum)
  • Tax Payer : TATA Industries Ltd.
Income tax Appellate Tribunal

ITAT: Business decisions for reorganization cannot be questioned without proof of sham; Cites bonafide transfer u/s 47(iv)

  • In Favour of Assessee
  • Citation Number : TS-676-ITAT-2026(CHNY)
  • Tax Payer : Valeo Bayen
Supreme Court

SC: Hands Revenue an important re-assessment win, relies on Calcutta Discount & Phool Chand ratio

  • In Favour of Assessee
  • Citation Number : TS-675-SC-2026
  • Tax Payer : Sanand Properties P. Ltd
Income tax Appellate Tribunal

ITAT: Quashes penalty u/s 271D as time-barred; Date of reference by AO triggers penalty initiation

  • In Favour of Assessee
  • Citation Number : TS-674-ITAT-2026(HYD)
  • Tax Payer : Smitha Aailaboyina
Income tax Appellate Tribunal

ITAT: First proviso to Sec. 68 applies to companies & not partnership firms; Affirms deletion of addition

  • In Favour of Assessee
  • Citation Number : TS-672-ITAT-2026(Mum)
  • Tax Payer : P Vijaykumar & CO
Income tax Appellate Tribunal

ITAT: Interest paid directly to lenders not taxable in loan facilitator’s hands; Disallows TDS credit

  • In Favour of Assessee
  • Citation Number : TS-671-ITAT-2026(Bang)
  • Tax Payer : Bharath Bail
Income tax Appellate Tribunal

ITAT: CIT(A) not obliged to seek remand report while exercising powers u/s 250(4); Upholds interest exemption

  • In Favour of Assessee
  • Citation Number : TS-670-ITAT-2026(DEL)
  • Tax Payer : National Association of Software and Service Companies
High Court

HC: Statutory definition of Jt. Commissioner includes Addl. Commissioner for penalty approval; Rejects narrow interpretation

  • In Favour of Revenue
  • Citation Number : TS-669-HC-2026(KER)
  • Tax Payer : The Service Cooperative Bank Limited
Income tax Appellate Tribunal

ITAT: ITAT: Invoices & banking documents insufficient to establish genuineness for accommodation entries

  • In Favour of Both, Partially
  • Citation Number : TS-668-ITAT-2026(Ahd)
  • Tax Payer : Sajan Overseas Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Re-sending notice after limitation period doesn't cure jurisdictional defects; Quashes reassessment

  • In Favour of Assessee
  • Citation Number : TS-667-ITAT-2026(CHNY)
  • Tax Payer : Kuttiappagounder Duraiyan