Judgement

The Court said that since the authorities had not yet taken a final decision on the show cause notices under Section 276C(2) of the Income Tax Act for the assessment year 2024–2025, moving to the Court at this stage was too early.

Punjab & Haryana HC Dismisses Premature Income Tax Petition

News

TVS Srichakra disclosed that its Income Tax demand was reduced from Rs 29.47 crore to Rs 31.1 crore after rectification, with no material impact on its financials, while its appeal against the original order remains pending.

Income Tax Demand of Rs. 29.47 Cr of TVS Srichakra Reduced to Rs. 3.11 Cr

IIFL Capital has received an income tax demand of Rs 68.07 crore from the Joint Commissioner of Income Tax, Mumbai, for the period between April 2018 and March 2025 under the Income Tax Act, 1961.

IIFL Capital Receives Rs 68.07 Crore Income Tax Demand

Bombay HC criticises Maharashtra government over delayed pension payments to retired employees, questioning its financial priorities amid heavy spending on welfare schemes.

Pension Payment Delay: Bombay HC Pulls Up Maharashtra Govt for Prioritising Ladki Bahin Yojana over Retirees

Gandhar Oil Refinery (India) Ltd has received approval from the Mumbai Customs Authority for a refund of Rs. 22.92 crore related to claims filed for the financial years 2018–19 and 2019–20.
The company said the sanctioned refund will improve its working capital position and strengthen overall financial liquidity.

 Gandhar Oil Refinery Gets Rs. 22.92 Crore Customs Refund Approval

Custom Department Sanctions Rs. 22.92 Crore Refund to Gandhar Oil Refinery

ITAT deletes additions based solely on third-party data without corroborative evidence or cross-examination opportunity.

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Punjab & Haryana HC Dismisses Premature Income Tax Petition

Income Tax Demand of Rs. 29.47 Cr of TVS Srichakra Reduced to Rs. 3.11 Cr

IIFL Capital Receives Rs 68.07 Crore Income Tax Demand

Pension Payment Delay: Bombay HC Pulls Up Maharashtra Govt for Prioritising Ladki Bahin Yojana over Retirees

Custom Department Sanctions Rs. 22.92 Crore Refund to Gandhar Oil Refinery

Third-Party Statements Alone Insufficient; ITAT Deletes Additions