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Judiciary

ITAT Quashes ₹8.35 Cr Loan Addition u/s 68 Due to Denial of Cross-Examination

January 20, 2026 468 Views 0 comment Print

The Tribunal held that a loan repaid through banking channels cannot be treated as unexplained when identity and creditworthiness are shown. Allegations based on untested statements were rejected.

ITC Allowed on Food & Beverages as Part of Event Management Package: AAR West Bengal

January 20, 2026 1815 Views 0 comment Print

The ruling held that food and beverage services used in providing taxable event management services qualify for ITC. It confirmed that such supplies form part of a composite supply, bringing them within the exception to the ITC blockage.

ITAT Delhi Set Aside Addition for Commission Due to Lack of Enquiry

January 20, 2026 906 Views 0 comment Print

The dispute centered on whether commission recipients actually rendered services. The tribunal ruled that in absence of summons, rejection of books, or contrary evidence, the expense could not be disallowed.

CKD E-Rickshaw Treated as Finished Vehicle When Essential Parts Present: GST AAR West Bengal

January 20, 2026 627 Views 0 comment Print

The authority ruled that a CKD e-rickshaw qualifies as a finished vehicle if it includes the motor and at least three other essential components. In such cases, the concessional 5% GST rate applies.

Interest on Enhanced Compensation Taxable as Other Sources Income: ITAT Delhi

January 20, 2026 672 Views 0 comment Print

Interest received under Section 28 of the Land Acquisition Act was held outside the scope of Section 10(37). The Tribunal clarified that only compensation qualifies for exemption, not interest.

ESOP Cost Allowable Business Expenditure: ITAT Deletes ₹93 Lakh Disallowance

January 20, 2026 771 Views 0 comment Print

The Tribunal held that employee stock option plan costs are allowable revenue expenditure. Following binding High Court precedent, the ₹93 lakh disallowance was deleted.

Reopenings for AYs 2014-15 & 2015-16 Time-Barred: ITAT Quashes Section 148 Notices

January 20, 2026 717 Views 0 comment Print

ITAT held that reassessment notices issued after the permissible limitation period were invalid. Applying the Supreme Court’s ruling in Rajeev Bansal, all proceedings were quashed as being beyond jurisdiction.

Section 263 Revision Upheld for Failure to Tax Interest on Enhanced Compensation

January 20, 2026 513 Views 0 comment Print

The Tribunal held that the Assessing Officer failed to apply amended provisions taxing interest on enhanced compensation. Revision under Section 263 was upheld as the assessment was erroneous and prejudicial to revenue.

Political Donation Disallowance Set Aside for Borrowed Satisfaction & Natural Justice Violation

January 20, 2026 1167 Views 0 comment Print

The Tribunal sustained reassessment based on search information but faulted the disallowance of political donations. The key takeaway is that additions cannot rest solely on untested third-party statements without cross-examination.

Section 14A Disallowance Rejected for No Nexus With Borrowed Funds

January 20, 2026 186 Views 0 comment Print

The Tribunal ruled that Section 14A cannot be invoked where borrowed funds were not used to earn exempt income. Disallowance was deleted after finding investments were made from interest-free funds.

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