Shringar Developers wins ITAT appeal. Tribunal rules that higher taxable interest than expense negates Section 14A disallowance. Interest on capital contribution to firm held for commercial expediency under Section 36(1)(iii).
ITAT Delhi ruled AO cannot use Section 154 to disallow ESI/PF deduction based on the later Supreme Court Checkmate judgment, as the issue was previously debatable.
Drawing on precedents, the ITAT held that a mandatory Section 153D approval for search assessments must be proven. The assessment order was set aside because the Department could not locate or produce the JCIT’s prior approval and satisfaction note after eight years.
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.
