The Bombay High Court granted industrialist Anil Ambani interim protection from prosecution and penalties in a tax-evasion case while admitting his petition challenging provisions of the Black Money Act. Ambani contends that certain provisions of the law are unconstitutional and violate the Constitution of India.
The Supreme Court sought the Central government’s response on a PIL highlighting large-scale vacancies in the Income Tax Appellate Tribunal, including unfilled member and staff posts across benches nationwide, while seeking assistance from Attorney General R Venkataramani in addressing concerns over tribunal functioning.
The Supreme Court of India dismissed Fox Mandal & Co’s plea against a CESTAT remand, with Justices PS Narasimha and Alok Aradhe ruling no grounds existed to expand or revisit the tribunal’s directions.
Shilpa Shetty secured partial relief as the Income Tax Appellate Tribunal ordered fresh examination of her Rs 12.5 crore gift dispute, directing the Assessing Officer to reassess evidence under Section 68 after granting opportunity to establish genuineness.
The Delhi High Court dismissed the Income Tax Department’s appeal against Boeing’s Indian subsidiary, with Justices V Kameswar Rao and Vinod Kumar rejecting reliance on ITBA portal glitches for invalid assessment orders.
The Income Tax Appellate Tribunal Chandigarh held that merely claiming funds belong to a Hindu Undivided Family is insufficient without documentary proof of their source, holding, and transfer, in a case involving Rs 50 lakh life insurance purchased from alleged agricultural income.
Contract manufacturer Flex has moved the Supreme Court seeking to quash a Tax Tribunal ruling in Xiaomi’s royalty tax dispute. Xiaomi faces a 72 million dollar alleged unpaid tax demand, challenging it in a case crucial to India’s contract manufacturing framework.
The Jammu & Kashmir and Ladakh High Court held that once an Income Tax Return is produced to prove income, courts need not examine its source absent rebuttal evidence, as statutory ITR filings carry evidentiary value unless shown to be false or unreliable.
The Delhi High Court ruled Foreign Tax Credit cannot be denied solely for delayed Form 67 filing, directing reconsideration within two months. Real Time Data Services Private Limited challenged FTC denial for AY 2020-21 and subsequent years.
The Delhi bench of the Income Tax Appellate Tribunal quashed a revision against senior advocate Mukul Rohatgi for AY 2020–21, holding that reopening his Rs 133.46 crore assessment lacked legal basis and could not rest on mere re-inquiry alone.
