Supreme Court & High Courts Weekly Round-Up Part 2
This weekly round-up analytically summarises the key stories related to the Supreme Court & High Courts reported at Taxscan.in during the...
![Excel Sheet Not Sufficient Proof of Transaction with Developer: ITAT Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/27/2127324-excel-sheet-not-sufficient-proofjpg.webp "Excel Sheet Not Sufficient Proof of Transaction with Developer: ITAT Allows Appeal [Read Order]")
![Assessee not Required to Prove Source of Source when Loan Repaid via Bank: ITAT Deletes Unsecured Loan Addition [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127259-assessee-not-required-to-prove-source-of-sourcejpg.webp "Assessee not Required to Prove Source of Source when Loan Repaid via Bank: ITAT Deletes Unsecured Loan Addition [Read Order]")
![Change in Opinion Insufficient for Reassessment: ITAT highlights Validity of Notice u/s 148 in Vedanta Limited Case [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127227-change-in-opinion-insufficient-for-reassessmentjpg.webp "Change in Opinion Insufficient for Reassessment: ITAT highlights Validity of Notice u/s 148 in Vedanta Limited Case [Read Order]")
![Taxpayer Cannot Dispute Taxability of Income Admitted in Return After 14 Months of Survey: Karnataka HC [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127198-axpayer-cannot-disputejpg.webp "Taxpayer Cannot Dispute Taxability of Income Admitted in Return After 14 Months of Survey: Karnataka HC [Read Order]")
Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that cooperative societies accepting the Specified BankNotes (SBNs) during the demonetization period cannot be treated as...
![Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127179-mere-acceptancejpg.webp "Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]")
₹8.80 Cr Addition cannot be made Solely on Estimation and Extrapolation Without Corroborative Evidence: ITAT sets aside Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, held that the Assessing Officer (AO) has erred in making the addition amounting to ₹8,80,26,071 solely on estimation and extrapolation without...
![₹8.80 Cr Addition cannot be made Solely on Estimation and Extrapolation Without Corroborative Evidence: ITAT sets aside Addition [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127174-addition-cannot-solely-estimation-extrapolation-without-corroborative-evidence-itat-sets-aside-addition-taxscan.webp "₹8.80 Cr Addition cannot be made Solely on Estimation and Extrapolation Without Corroborative Evidence: ITAT sets aside Addition [Read Order]")
Demolition Costs to be Included in LTCG, if Occurred: ITAT Remands Issue to AO to Determine Pre-Existence of Structure [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, remanded the issue to the Assessing Officer (AO) to determine there was a structure that had been demolished on the immovable property. The...
![Demolition Costs to be Included in LTCG, if Occurred: ITAT Remands Issue to AO to Determine Pre-Existence of Structure [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127085-demolition-included-in-ltcg-itat-to-ao-existence-.webp "Demolition Costs to be Included in LTCG, if Occurred: ITAT Remands Issue to AO to Determine Pre-Existence of Structure [Read Order]")
Balance Sheet Sufficient for Income Tax Assessment for S.69, No Supporting Evidence for S.80 Deduction: ITAT Partly Allows Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT),Hyderabad Bench, held that a balance sheet is sufficient for assessment under Section 69. However, there had been no supporting evidence to claim deduction ...
![Balance Sheet Sufficient for Income Tax Assessment for S.69, No Supporting Evidence for S.80 Deduction: ITAT Partly Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127083-income-tax-assessmentjpg.webp "Balance Sheet Sufficient for Income Tax Assessment for S.69, No Supporting Evidence for S.80 Deduction: ITAT Partly Allows Appeal [Read Order]")
Trust Expenditure to not Exceed 5% of Income for Religious Purposes: ITAT Remands Matter to CIT(E) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, remanded the matter to the Commissioner of Income Tax (Exemption) [CIT(E)] to verify whether trust expenditure has exceeded the 5% of ...
![Trust Expenditure to not Exceed 5% of Income for Religious Purposes: ITAT Remands Matter to CIT(E) [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127072-trust-expenditurejpg.webp "Trust Expenditure to not Exceed 5% of Income for Religious Purposes: ITAT Remands Matter to CIT(E) [Read Order]")
Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]
The Supreme Court of India recently dismissed a Special Leave Petition filed by the Principal Commissioner of Income Tax-2 challenging a judgment of the Bombay High Court which had refused to...
![Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127059-due-datejpg.webp "Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]")
Banks can use Separate Provisions to Set-off Bad Debts for Rural & Non-Rural Advances: Supreme Court Declines Interference with Bombay HC Order [Read Order]
The Supreme Court of India recently declined to interfere with a judgment of the Bombay HighCourt wherein the Revenue questioned whether banks are entitled to maintain separate provisions for rural...
![Banks can use Separate Provisions to Set-off Bad Debts for Rural & Non-Rural Advances: Supreme Court Declines Interference with Bombay HC Order [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127057-bad-debtjpg.webp "Banks can use Separate Provisions to Set-off Bad Debts for Rural & Non-Rural Advances: Supreme Court Declines Interference with Bombay HC Order [Read Order]")