The ITAT Delhi heard an appeal from Kamal Kant, whose set-off of non-speculative business losses from Futures & Options (F&O) against Capital Gains income was disallowed by the tax authorities. Citing Section 71(2) of the Income-tax Act and judicial precedent, the ITAT found the set-off permissible.
Delhi High Court denies Airports Authority of India’s petition against the rejection of Rs. 9.34 Cr transitional CENVAT Credit claim, citing failure to submit supporting documents, not just a software glitch.
The Delhi High Court set aside a GST demand order against Hind Paper House, citing the department’s failure to properly upload the Show Cause Notice and Relied Upon Documents, and directed a fresh hearing.
The Kolkata ITAT allowed Winner Tradecom Pvt. Limited’s appeal, deleting a ₹15 lakh addition made under Section 68 for an alleged credit from a shell company.
Delhi High Court directs ACIT to immediately de-attach Boang Technology’s 13 bank accounts. Company must deposit 20% of demand by Oct 3, 2025, to secure a stay on the balance 80%.
Delhi High Court clarified that NTPC, as a successful Resolution Applicant of Jhabua Power Ltd., enjoys immunity under Section 32A IBC. Criminal proceedings against the corporate debtor cannot be extended to the new management, reinforcing finality in insolvency resolutions.
Bombay High Court confirms that an assessment order isn’t ‘erroneous’ if AO applied his mind. Court dismissed PCIT’s appeal against Gehna Jewellers.
NCLAT rules that partial payment and ledger acknowledgment extend limitation period under Limitation Act, validating operational debt of Rs. 8.48 lakh against Indian Denim Limited.
The Delhi High Court dismissed the Revenue’s appeals in CIT-1 v. Casio India Co. Pvt. Ltd. for AY 2012-13 and 2013-14, affirming the ITAT’s finding that AMP expenses did not constitute an international transaction warranting separate transfer pricing adjustments.
Find out how ITAT Mumbai granted relief to Surat Road King, allowing depreciation on business assets (trucks) even when registered in partners names. Decision underscores principle of economic ownership over mere legal title and rejects ad-hoc disallowances made without concrete evidence.
