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08 Jan 2026
(2026) TaxCorp(LJ) 37350 (ITAT-MUMBAI)
ITAT-MUMBAI
Parties: INU Exports Private Limited Vs ITO
ITAT : ITAT Mumbai Quashes ₹15.18 Crore Penalty under Section 270A: Reclassification of Losses Not Equivalent to Income...
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08 Jan 2026
(2026) TaxCorp(LJ) 37349 (ITAT-DELHI)
ITAT-DELHI
Parties: Passion Realtech Pvt. Ltd Vs Asstt. Commissioner of Income Tax
ITAT : Delhi ITAT Affirms AO's Limited Scrutiny Jurisdiction but Deletes Section 68 Addition on Loan after Revenue's Acc...
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08 Jan 2026
(2026) TaxCorp(LJ) 37348 (ITAT-DELHI)
ITAT-DELHI
Parties: SAIC Motor Corporation Limited Vs Assistant Commissioner of Income Tax
ITAT : Delhi ITAT Rules No Permanent Establishment for SAIC Motor Corporation in India; Rs. 17.33 Crore Addition Deleted...
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08 Jan 2026
(2026) TaxCorp(LJ) 37347 (ITAT-CHENNAI)
ITAT-CHENNAI
Parties: The India Cements Ltd Vs The DCIT
ITAT : Chennai ITAT Upholds Taxability of Maharashtra Investment Subsidy as Income Post-Finance Act, 2015 Amendment—Capi...
Latest SC/HC
H
(2026) TaxCorp (DT) 96597 (HC-DELHI)
DCIT, Circle 16 (1), Delhi. Versus MD Equipment Pvt. Ltd.
05 Jan 2026

Income Tax - Section 10AA - ITAT Delhi Rules in Favour of Assessee: Section 10AA Deduction Not Barred by Late Filing of...

Key Takeaway

Tax officials must strictly adhere to the CBDT guidelines and judicial precedents while processing such claims..

Income Tax - Section 10AAIncome TaxDeductionDecided in favour of assessee.
H
(2026) TaxCorp (DT) 96596 (HC-GUJARAT)
Paras Chandreshbhai Koticha Versus Income Tax Officer Ward - 1 (2) (2).
07 Jan 2026

Income Tax - Sections 132, 147, 148, 153A, 153C - Gujarat High Court Holds Reassessment u/s 147/148 Invalid When Based o...

Key Takeaway

AOs are thus required to ensure strict compliance with the satisfaction recording procedure under Section 153C before seeking to reopen assessments based on search-related material..

Income Tax - Sections 132147Income Tax
H
(2026) TaxCorp (DT) 96595 (HC-MP)
Nitin Kumar Ahuja Versus Principal Commissioner Income Tax Department
05 Jan 2026

Income Tax - Sections 69, 144 - Madhya Pradesh High Court Upholds Addition Based on Net Profit Ratio for Unrecorded Sale...

Key Takeaway

As such, the appeal was dismissed..

Income Tax - Sections 69144Income TaxAppeal dismissed.
H
(2026) TaxCorp (DT) 96594 (HC-GUJARAT)
Arpit Pravinbhai Shah Versus Assistant Commissioner of Income Tax Circle 5 (1) (1) & Ors.
23 Dec 2025

Income Tax - Sections 40, 199 - Gujarat High Court Directs Tax Credit to Employee Despite Employer’s Failure to Deposit...

Key Takeaway

Employees in similar situations should produce evidence of TDS deduction (such as salary slips or Form 16) and cite this judgment to claim relief..

Income Tax - Sections 40199TDS
S
(2026) TaxCorp (DT) 96593 (SC)
Pr. Commissioner of Income Tax (Central) Versus Mukul Kakar
07 Jan 2026

Income Tax - Section 68 - Supreme Court Declines to Intervene in Section 68 Unexplained Loan Addition: High Court’s Find...

Key Takeaway

Assessees must, therefore, ensure comprehensive documentary evidence to establish the identity, creditworthiness, and genuineness of any purported loan transactions reflected in their books..

Income Tax - Section 68Income TaxThe present petition is, accordingly, dismissed.
Latest ITAT
ITAT-MUMBAIGround No.3 raised in assessee’s appeal is allowed for statistical purposes.

Income Tax - Sections 14A, 68, 69C - ITAT Mumbai Upholds Section 68 Addition for Unexplained Share Application Money in...

Key Takeaway

However, for disallowance under section 14A relating to exempt income, the Tribunal has directed that such disallowance cannot exceed the amount of exempt income actually earned..

Income Tax - Sections 14A, 68, 69C2012-13Income TaxAllowance
ITAT-KOLKATADecided against revenue

Income Tax - Sections 37, 69C - ITAT Kolkata Upholds Assessee’s Genuine Purchase and Expense Claims: Disallowance of Bog...

Key Takeaway

This ruling underscores the importance of maintaining and presenting proper records and documentation to rebut allegations of bogus transactions..

Income Tax - Sections 37, 69C2021-22Income TaxAllowance
ITAT-DELHIAppeal of the assessee is allowed.

Income Tax - Sections 69C, 144, 263 - ITAT Delhi Quashes Section 263 Revision: Debatable Disallowance on Bogus Purchases...

Key Takeaway

The Tribunal thus set aside the revisionary order, emphasizing that debatable issues are not grounds for revision under Section 263..

Income Tax - Sections 69C, 144, 263Income TaxAllowance
ITAT-KOLKATADismiss the appeal of the revenue.

Income Tax - Section 40A - ITAT Kolkata Upholds Exclusion of Section 40A(3) Disallowance on Cash Payments to Supervisors...

Key Takeaway

The revenue’s appeal was consequently dismissed..

Income Tax - Section 40A2018-2019Income TaxAllowance
ITAT-DELHIThe grounds of raised by the assessee are allowed.

Income Tax - Section 11 - ITAT Delhi Rules in Favor of Charitable Trust: Four-Day Delay in Filing Form 10B Not Fatal to...

Key Takeaway

The Tribunal’s decision is actionable in that it requires tax authorities to adopt a liberal approach in condoning short delays in procedural compliance, provided that the substantive conditions for exemption are met and the charitable character of the assessee is not in dispute..

Income Tax - Section 112021-22Income TaxExemption