SC Upholds Income Tax Appeal Restoration Despite Pending Settlement Proceedings

PCIT-1 Vs M D Industries Pvt Ltd (Supreme Court of India) The Supreme Court of India dismissed the Revenue’s special leave petition and upheld the restoration of income tax appeals by the Income Tax Appellate Tribunal (ITAT), notwithstanding the pendency of settlement proceedings before the Settlement Commission. The Supreme Court first condoned the delay in filing the petition and noted that an identical petition filed earlier by the same Revenue authority had already been dismissed by an order dated 11.07.2025. Relying entirely on that earlier order, the Court dismissed the present petitio...