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Judiciary

Denial of depreciation to trust not justified as genuineness of building construction expense proved

February 6, 2026 423 Views 0 comment Print

ITAT Bangalore held that once the genuineness of the building construction expenditure is proved, the consequential claim of depreciation on such genuine assets cannot be denied to trust since depreciation was claimed only on actual assets used for charitable purpose.

Kerala HC Orders GST Dept to Return Title Deed or Loss Certificate After Finding Proof of Submission

February 6, 2026 174 Views 0 comment Print

The High Court held that the petitioner had duly submitted the original title deed as security and directed the Department to trace and return it within a fixed time.

ITAT Cannot Dismiss Transferred Appeals for Jurisdictional Doubt: Delhi HC

February 6, 2026 399 Views 0 comment Print

The issue was whether ITAT could reject appeals after an administrative transfer. The High Court ruled such dismissals are invalid and appeals must be heard on merits.

Belated Society Membership Dispute- Supreme Court Balances Statutory Rights & Equity

February 6, 2026 510 Views 0 comment Print

The Supreme Court held that belated payment alone cannot defeat society membership where lawful occupation and valid AGM resolutions exist. The key takeaway is that delay affects only financial consequences, not the right to membership.

Co-founder of Flipkart stayed in India for 141 days hence was Indian national for relevant period

February 6, 2026 978 Views 0 comment Print

ITAT Bangalore held that at the relevant time co-founder of Flipkart stayed in India for 141 days and balance days in other countries. Hence, assessee is an Indian national and thus the appeal of the assessee is dismissed.

No disallowance under rule 8D(2)(ii) as interest-free own funds exceeds investment

February 6, 2026 561 Views 0 comment Print

ITAT Mumbai held that disallowance of interest expenditure under Rule 8D(2)(ii) of the Income Tax Rules is not sustainable since the assessee’s own interest-free funds were substantially higher than the investment. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.

Recall of sec. 7 admission order as related party nexus between Financial Creditor and Corporate Debtor pierces corporate veil

February 6, 2026 495 Views 0 comment Print

Section 7 application was initiated fraudulently and with malicious intent, in collusion between the Financial Creditor and the Corporate Debtor, for purposes other than genuine insolvency resolution.

Determination of Environment Damage Compensation should be based on Polluting Company’s Turnover

February 6, 2026 447 Views 0 comment Print

Project cost or turnover could constitute a relevant and permissible yardstick for quantification of environmental compensation, provided the determination was reasoned, proportionate and bears a rational nexus to the scale of violations.

Section 80G Approval Saved by 2024 Amendment — Late Filing No Longer Fatal

February 6, 2026 555 Views 0 comment Print

The ruling addressed whether a delayed application could survive after statutory change. The Tribunal directed fresh consideration by applying the liberalized timeline introduced by Finance Act, 2024.

Vivad-Se-Vishwas Didn’t Mature — Appeal Can’t Die by Assumption

February 6, 2026 1113 Views 0 comment Print

ITAT Chennai held that merely opting for Vivad-Se-Vishwas does not end an appeal unless settlement is completed; dismissal by assumption was invalid and appeal was restored for merits adjudication.

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