Appellate interference with discretionary interim orders - Vacation of interim status quo order before original forum Maintainability of an appeal against an interim status quo order in winding-up proceedings without first seeking its vacation or modification before the Tribunal that made it - HELD THAT: - An interim status quo order, being a discretionary measure to preserve the subject matter pending adjudication, ought ordinarily to be challenged first before the forum granting it by seeki... ... ...

Costs on restoration of struck-off company - Proportionality of costs under Rule 87A Quantum of costs imposed on restoration of the struck-off company under Rule 87A - HELD THAT: - While the company's persistent non-filing of financial statements and returns was a serious lapse for which ignorance of law afforded no defence, Rule 87A(4)(c) requires the costs imposed on restoration to bear a rational correlation with the costs actually occasioned by the appeal or application. As such costs... ... ...

Re-determination of customs value following misdeclaration - Redemption fine on goods permitted only for re-export - Penalty for misdeclaration of prohibited imported goods - Penalty for false or incorrect information in business transactions Re-determination of customs value following misdeclaration - Re-determination of the value of undeclared used printers and accessories following misdeclaration - HELD THAT: - The admitted misdeclaration of the imported goods justified re-determination of... ... ...

Effect of approved insolvency resolution plan on customs recovery Sustainability of customs demand or recovery against the corporate debtor after approval of its insolvency resolution plan - HELD THAT: - The Resolution Plan having been approved by the National Company Law Tribunal, no demand or recovery could be sustained against the appellant. [Paras 9] The appeal was disposed of on the basis that the demand or recovery was not sustainable against the appellant. Final Conclusion: In vi... ... ...

Deduction u/s 80P denied - Belated return filled - deduction u/s 80P(2)(d) - Interest income from co-operative bank for deduction under section 80P(2)(d) Entitlement to deduction u/s 80P(2)(d) despite filing the returns after the due date prescribed u/s 139(1), and rectification of the resulting adjustment - HELD THAT: - For the stated assessment years, the condition of furnishing the return by the due date under section 139(1) did not govern a claim for deduction under section 80P(2)(d). The... ... ...

Limitation for final assessment under the DRP procedure - Harmonious construction of sections 144C and 153 Limitation of the final assessment order under the DRP procedure after expiry of the outer period under section 153 - HELD THAT: - The Hon'ble High Court of Madras in the case of Roca Bathroom Products Pvt. Ltd [2022 (6) TMI 848 - MADRAS HIGH COURT] held that, time limit prescribed u/s 153 of the Act has to be adhered to and that both Section 144C and 153 of the Act are mutually incl... ... ...

Conditional withdrawal of reassessment grounds - Non-consideration of material submissions - Non-adjudication of reserved legal grounds - Recall of the appellate order where reassessment grounds were treated as unconditionally not pressed despite a conditional withdrawal and express liberty to raise all legal and factual issues in the Revenue's appeal - HELD THAT: - The letter before the first appellate authority showed that the withdrawal of the reassessment grounds was subject to relief... ... ...

Disallowance of unclaimed land-purchase payments u/s 40A(3) - Retrospective tolerance for stamp-duty valuation differences Addition u/s 40A(3) - unclaimed land-purchase payments - cash payments for purchase of land, where the payment was not claimed as expenditure - HELD THAT: - Section 40A applies only to expenditure otherwise deductible in computing business income. Since the land-purchase payment had not been claimed as expenditure or reduced in computing profits, it could not be disallowe... ... ...

Reassessment - change of opinion - Reasons recorded -impermissible supplementation Validity of reassessment of unsecured-loan credits examined in the original scrutiny where the recorded reasons named an entity from which no loan had been received - HELD THAT: - The loan from the first creditor had been examined in the original scrutiny on the basis of confirmation, with no adverse finding, and no additional information relating to that transaction was brought on record; reopening on that bas... ... ...

Condonation of delay in application for regularisation of provisional registration u/s 12AB - delay in Form No. 10AB application - Regularisation of provisional registration under section 12AB HELD THAT: - The statutory proviso empowers the Commissioner to condone delay on being satisfied of reasonable cause, unlike the provision considered in the decision concerning the mandatory furnishing of a declaration where no such power existed. The assessee's lack of awareness of the amended fili... ... ...

Reassessment - additions unrelated to recorded reasons - Assessment on non-existent amalgamating company Reassessment - additions unrelated to recorded reasons - Validity of reassessment additions unconnected with the alleged escaped investment forming the recorded reasons for reopening - HELD THAT: - The recorded reasons confined the alleged escapement to investment in a penny-stock scrip. Since no addition was made in respect of that investment, the jurisdictional foundation for reassessmen... ... ...

Unexplained investment in jointly acquired property - Admission of additional evidence on the source of alleged unexplained investment in jointly acquired immovable property - HELD THAT: - The additional evidence, bearing on the claim of joint ownership, payments made over different years and payments through banking channels, had not been produced before the lower authorities. As it went to the root of the matter and was essential for a just decision, it was admitted under Rule 29. The Revenue ... ... ...

Assessments u/ss 153A/153C - Search assessment jurisdiction-seized material nexus - Unexplained bank deposits - explanation of sources - Undisclosed salary - uncorroborated loose papers relied upon - Unexplained jewellery investment -ambiguous mobile-phone noting considered Search assessment jurisdiction - assessments u/s 153A/153C -seized material nexus - Validity of search assessments where seized documents had an indirect link with the additions - HELD THAT: - The Tribunal found that docum... ... ...

Capital gains on transfer of inherited tenancy rights - Fair market value of tenancy rights for indexed cost of acquisition Chargeability of capital gains on transfer of tenancy rights inherited under a will despite the claimed absence of an ascertainable cost of acquisition - HELD THAT: - The capital-gains charge fails only where the computation provisions are incapable of application. The tenancy rights transferred in an identified flat were a recognised and marketable asset capable of valu... ... ...

Exemption of BSNL VRS-2019 compensation as retrenchment compensation - Taxability of compensation received by a retired BSNL employee under the BSNL Voluntary Retirement Scheme, 2019-whether it qualified as exempt retrenchment compensation under section 10(10B), rather than under section 10(10C) HELD THAT: - The Tribunal adopted, mutatis mutandis, the detailed reasoning of the coordinate-bench decision [2026 (4) TMI 1888 - ITAT PUNE] extracted in the order. The compensation received under the... ... ...

Validity of reassessment - Escaped income threshold for extended reassessment - Reassessment beyond six years for undisclosed purchases - Third-party digital data as books of account - Cross-examination of adverse third-party material Satisfaction under Explanation 2(iv) to section 148 - Information relating to the assessee in seized third-party documents - Validity of the satisfaction recorded for reassessment on the basis of information in the seized 'Sanjeev Tally' data - HELD THAT... ... ...

Deemed date of search for a non-searched person u/s 153C - Validity of a consolidated satisfaction note without assessee-specific adverse material Validity of assessments u/s 153C where the satisfaction note in the case of a non-searched person was recorded after 1 April 2021 - HELD THAT: - For a non-searched person, the date of recording of satisfaction or receipt of records by that person's Assessing Officer is the deemed date of search. As the satisfaction note was recorded after 1 Apr... ... ...

Foreign tax credit denied - delayed filing of Form 67 - procedural defect HELD THAT: - The Tribunal held that delayed furnishing of Form 67 is a procedural defect and does not extinguish the substantive right to foreign tax credit. Since the form was filed on the date of filing of the return but was treated as belated, the claim required verification rather than denial solely on that ground. As decided in NITIN KHURANA [2026 (3) TMI 1122 - ITAT DELHI] as followed the decision of M/s Real T... ... ...

Exemption u/s 10(26AAB) - Exemption of income of agricultural-produce market committees - Procedural error in claiming statutory exemption Entitlement of a statutory agricultural-produce market committee to exemption despite claiming exemption under an incorrect provision in its return and not filing a revised return - HELD THAT: - Section 10(26AAB) exempts the income of an agricultural-produce market committee or board constituted under law for regulating the marketing of agricultural produc... ... ...

Reassessment against a non-existent amalgamating company notices and consequential assessment issued in the name of an amalgamating company which had ceased to exist HELD THAT: - An assessment cannot be initiated or completed in the name of a company which had ceased to exist upon amalgamation. The reassessment notice, scrutiny notice and consequential assessment were issued in the name of the erstwhile company despite the amalgamation having been brought to the Assessing Officer's notice... ... ...