Mansi Yadav
ITAT Weekly Round-up
This weekly round-up encapsulates the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week,...
![Relief to Thermo Fisher in Transfer Pricing Dispute: ITAT Partly Allows Appeal on Royalty ALP, Benchmarking, Comparables, Aggregation and Working Capital Adjustments [Read Order]](https://images.taxscan.in/h-upload/2026/01/11/250x150_2118312-thermo-fisher-transfer-pricing-itat-appeal-royalty-alp-benchmarking-comparables-aggregation-working-capital-adjustments-taxscan.webp "Relief to Thermo Fisher in Transfer Pricing Dispute: ITAT Partly Allows Appeal on Royalty ALP, Benchmarking, Comparables, Aggregation and Working Capital Adjustments [Read Order]")
![Reopening of Assessment u/s 147 Invalid Due to Defective PCIT Approval: ITAT Quashes Entire Reassessment [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117491-reopening-assessment-defective-pcit-approval-itat-quashes-reassessment-taxscan.webp "Reopening of Assessment u/s 147 Invalid Due to Defective PCIT Approval: ITAT Quashes Entire Reassessment [Read Order]")
![ITAT Remands Section 69A Addition After Holding AO Failed to Verify Creditworthiness of Donors [Read Order]](https://images.taxscan.in/h-upload/2026/01/08/250x150_2117770-itat-remands-section-69a-addition-after-holding-ao.webp "ITAT Remands Section 69A Addition After Holding AO Failed to Verify Creditworthiness of Donors [Read Order]")
Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that consideration received for offshore supply of plant, equipment, drawings and designs by a foreign company cannot be taxed in...
![Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117489-itat-allows-appeal-by-sms-group-gmbh-taxscan.jfif "Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]")
Claimed Property Gift by Father-in-Law Mistakenly Registered as Sale: ITAT Remands Capital Gain Addition u/s 50C for Fresh Examination [Read Order]
The Bangalore Bench of the Income TaxAppellate Tribunal (ITAT) has remitted a dispute where a property meant to be a gift was mistakenly executed as a sale deed, resulting in a capital gains ...
![Claimed Property Gift by Father-in-Law Mistakenly Registered as Sale: ITAT Remands Capital Gain Addition u/s 50C for Fresh Examination [Read Order]](https://images.taxscan.in/h-upload/2026/01/08/500x300_2117768-claimed-property-gift-by-father-in-law-mistakenly-registered-as-sale-itat-remands-capital-gain-addition-us-50c-for-fresh-examination-taxscan.webp "Claimed Property Gift by Father-in-Law Mistakenly Registered as Sale: ITAT Remands Capital Gain Addition u/s 50C for Fresh Examination [Read Order]")
PCIT Cannot Invoke Revisionary Powers u/s 263 where AO took a Plausible View after Due Enquiry: ITAT favours City Union Bank [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that revisionary powers under Section 263 of theIncome Tax Act, 1961 cannot be exercised merely because the Principal ...
![PCIT Cannot Invoke Revisionary Powers u/s 263 where AO took a Plausible View after Due Enquiry: ITAT favours City Union Bank [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117507-itat-favours-city-union-bank-taxscan.webp "PCIT Cannot Invoke Revisionary Powers u/s 263 where AO took a Plausible View after Due Enquiry: ITAT favours City Union Bank [Read Order]")
Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]
TheDelhi Bench of the Income Tax AppellateTribunal (ITAT)has held that the mere filing of an income tax return in an incorrect form cannot be a ground to disallow genuine expenditure. The Bench also...
![Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117487-wrong-selection-of-itr-7-instead-of-itr-5-is-mere-procedural-error-itat-remits-matter-to-reassess-income-as-per-itr-5-taxscan.webp "Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]")
ITAT Quashes Reassessment Proceedings against Toyota Boshoku Corporation for Lack of Mandatory Approval u/s 151 [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings initiated under the Income Tax Act, 1961, holding that notices issued beyond the prescribed period...
![ITAT Quashes Reassessment Proceedings against Toyota Boshoku Corporation for Lack of Mandatory Approval u/s 151 [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117478-toyota-boshoku-corporation-taxscan.webp "ITAT Quashes Reassessment Proceedings against Toyota Boshoku Corporation for Lack of Mandatory Approval u/s 151 [Read Order]")
NCLAT Rules No Grounds to Entertain NTADCL Appeal, Issues Clarification on Right to Defense Against IL&FS [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, has declined to interfere with an order of the National Company Law Tribunal (NCLT), Mumbai Bench-I, which rejected...
![NCLAT Rules No Grounds to Entertain NTADCL Appeal, Issues Clarification on Right to Defense Against IL&FS [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116516-nclat-rules-grounds-entertain-ntadcl-appeal-issues-clarification.webp "NCLAT Rules No Grounds to Entertain NTADCL Appeal, Issues Clarification on Right to Defense Against IL&FS [Read Order]")