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.
The Delhi High Court, in CIT v. Corteva Agriscience Pvt. Ltd., dismissed the Revenues appeals, confirming that penalty notices under Section 271(1)(c) of the Income Tax Act, 1961.
The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, cannot be treated as unexplained cash credit under Section 68 merely for the absence of buyers’ PAN or address details.
The ITAT Chandigarh ruled in Arun Dhir vs DCIT that a lump sum in lieu of pension is exempt under Section 10(10A), rejecting the necessity of receiving it strictly upon superannuation.
Allahabad High Court dismisses Mohini Traders’ writ, upholding GST seizure and penalty as e-way bill was produced after goods were intercepted.
