Karnataka HC Upholds Order Favoring MRPL in Tax Dispute Under DTVSV Act

PCIT Vs Mangalore Refinery And Petrochemicals Ltd. (Karnataka High Court) Karnataka High Court has dismissed an intra-court appeal filed by the Principal Commissioner of Income Tax (PCIT) against Mangalore Refinery And Petrochemicals Ltd. (MRPL). The appeal challenged a learned Single Judge’s order dated November 18, 2022, which had allowed MRPL’s writ petition (W.P.No.10523/2022) and granted relief to the assessee under the Direct Tax Vivad Se Vishwas Act, 2020 (DTVSV Act). The High Court broadly agreed with the findings and reasoning of the Single Judge. The core issue in the dis...