![Repayment of Director’s own Deposit Not Deemed Dividend: ITAT Deletes ₹25L addition u/s 2(22)(e) [Read Order]](https://images.taxscan.in/h-upload/2026/02/18/2126229-repayment-directors-own-deposit-deemed-dividend-itat.webp "Repayment of Director’s own Deposit Not Deemed Dividend: ITAT Deletes ₹25L addition u/s 2(22)(e) [Read Order]")
Repayment of Director’s own Deposit Not Deemed Dividend: ITAT Deletes ₹25L addition u/s 2(22)(e) [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad Bench held that repayment or withdrawal of a director’s own deposit maintained with a company...
![ITAT Directs Deletion of ₹70L Unexplained Cash Deposit on Education Society after finding Records in Audited Books [Read Order]](https://images.taxscan.in/h-upload/2026/02/18/2126220-itat-ahmedabadjpg.webp "ITAT Directs Deletion of ₹70L Unexplained Cash Deposit on Education Society after finding Records in Audited Books [Read Order]")
![ITAT Grants Deduction under Section 54F to NRI: Residential Houses Outside and Inside India Considered [Read Order]](https://images.taxscan.in/h-upload/2026/02/17/2126099-itat-grants-deduction-under-section-54f-nri-residential-houses-outside-inside-india-considered.webp "ITAT Grants Deduction under Section 54F to NRI: Residential Houses Outside and Inside India Considered [Read Order]")
![Capital Gains on Jointly Owned Property cannot be Taxed In Hands of One Co-Owner: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125118-capital-gains-jointly-property-cannot-taxed-hands-one-co-owner-itat-taxscan.webp "Capital Gains on Jointly Owned Property cannot be Taxed In Hands of One Co-Owner: ITAT [Read Order]")
![Depreciation On Goodwill allowable Where Excess Consideration Paid For Business Acquisition: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125106-itat-held-that-surplus-consideration-over-asset-value-represents-goodwill-eligible-depreciation-income-tax-act-taxscan.webp "Depreciation On Goodwill allowable Where Excess Consideration Paid For Business Acquisition: ITAT [Read Order]")
Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal Following AO's Remand Report [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, rejected an appeal by the Department, whose dispute concerns the deletion of the INR 6,00,00,000/- addition made under Section 68 of the Income...
![Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal Following AOs Remand Report [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125098-unsecured-loans-amounting-unreliable-companies.webp "Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal Following AOs Remand Report [Read Order]")
Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest under Section 220(2) of the Income Tax Act, 1961 cannot be levied for a period during which no enforceable income...
![Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125073-interest-unsustainable-income-tax-demand-arose.webp "Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]")
Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]
The Madras High Court has held that compensation paid by an assessee to its agent for losses arising due to foreign exchange rate fluctuation, caused by delayed payments, is allowable as a business...
![Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]](https://images.taxscan.in/h-upload/2026/02/13/2125014-madras-hc-allows-deduction.webp "Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]")
‘Test of Human Probability’ Cannot Disregard a Verified and Audited Paper Trail: Calcutta HC Upholds Deletion of ₹6.22 Cr Addition [Read Order]
The Calcutta High Court has upheld the deletion of an addition of ₹6.22 crore made under Section 68 of the Income Tax Act, 1961, on account of unexplained share capital and share premium. The Bench ...
![‘Test of Human Probability’ Cannot Disregard a Verified and Audited Paper Trail: Calcutta HC Upholds Deletion of ₹6.22 Cr Addition [Read Order]](https://images.taxscan.in/h-upload/2026/02/13/2125009-test-human-probability-cannot-disregard-verified-audited-paper-trail-calcutta-hc-taxscan.webp "‘Test of Human Probability’ Cannot Disregard a Verified and Audited Paper Trail: Calcutta HC Upholds Deletion of ₹6.22 Cr Addition [Read Order]")
P&H HC Holds ₹4.5 Cr Compensation for Loss of ‘ENO’ & ‘Fruit Salt’ Trademark Rights in AY 1997-98 is Capital Receipt [Read Order]
In a recent ruling, the Punjab and Haryana High Court held that Rs. 4.5 crore received as compensation for loss of the right to use the trademarks “ENO” and “Fruit Salt” in Assessment Year 1997-98...
![P&H HC Holds ₹4.5 Cr Compensation for Loss of ‘ENO’ & ‘Fruit Salt’ Trademark Rights in AY 1997-98 is Capital Receipt [Read Order]](https://images.taxscan.in/h-upload/2026/02/12/2124771-ph-hc-compensation-for-loss-eno-fruit-salt-trademark-rights-capital-receipt-taxscan.webp "P&H HC Holds ₹4.5 Cr Compensation for Loss of ‘ENO’ & ‘Fruit Salt’ Trademark Rights in AY 1997-98 is Capital Receipt [Read Order]")
Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that while penalty under Section 271(1)(c) of the Income Tax Act, 1961 was rightly leviable in a case of non-filing of return, the...
![Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]](https://images.taxscan.in/h-upload/2026/02/11/2124665-penalty-levied-tax-amount-sought-evaded-itat-reduces-penalty.webp "Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]")
Extrapolation Not Permitted in Income Tax Search Assessment Proceedings: ITAT rules Order Unsubstantiated, allows Appeal [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench, has recently held an order which had extrapolated reasonings unsubstantiated. The tribunal is of the opinion that extrapolation is not...
![Extrapolation Not Permitted in Income Tax Search Assessment Proceedings: ITAT rules Order Unsubstantiated, allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/11/2124607-itat-chandigarh-extrapolation-income-tax-assessment-proceedings-itat-search-assessment-extrapolation-in-income-tax-itat-allows-appeal-taxscan.webp "Extrapolation Not Permitted in Income Tax Search Assessment Proceedings: ITAT rules Order Unsubstantiated, allows Appeal [Read Order]")