New Delhi, February 6, 2025 – In a significant ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the assessments against multiple assessees, holding that the assessments made under Section 143(3) of the Income Tax Act, 1961, were invalid in law. The case pertains to the appeals filed against the orders […]
Delhi, January 24, 2025:The Income Tax Appellate Tribunal (ITAT), Delhi Bench, delivered a significant ruling in favor of Jindal Saw Ltd. (formerly Saw Pipes Ltd.) regarding the taxability of excise duty refund. The tribunal held that the excise duty refund received by the assessee is in the nature of a capital receipt and, therefore, not
Date of Pronouncement: 02.01.2024Bench: Income Tax Appellate Tribunal (ITAT), Delhi The Income Tax Appellate Tribunal (ITAT) Delhi Bench dismissed the ITAT appeal filed by the Revenue against the order dated 22.11.2022, passed by the Commissioner of Income Tax (Appeals)-30, New Delhi. The appeal arose from the Assessment Order dated 06.04.2021 for the Assessment Year (A.Y.) 2019-20 under