Tag
Income Tax Department
11 articles
Tax disputes and insolvency proceedings involving the Income Tax Department are increasingly impacting corporate activity. Several companies, including United Foodbrands, Green Valley Foodgrains, and KBUS Pvt Ltd, are navigating rectification orders, appeals, and restoration processes related to income tax demands. Notably, the NCLT approved the amalgamation of Arris-Vantiva India, despite objections from the Income Tax Department concerning disputed demands totaling ₹22.55 crore, highlighting the ongoing scrutiny of tax implications in corporate restructuring. These developments suggest heightened regulatory risk for businesses undergoing mergers, acquisitions, or insolvency, potentially complicating timelines and increasing financial burdens.
Sanofi India Wins ₹72.7 Lakh Tax Appeal
Sanofi India received a favorable order from the Income Tax Commissioner (Appeals) for AY 2019-20, dropping proceedings under Section 201.
The order deletes a tax demand of ₹72.71 lakh related to non-
Ashiana Housing Receives ₹2.28 Lakh Income Tax Penalties
Ashiana Housing Ltd discloses receipt of two penalty orders from the Income Tax Department, Delhi, totaling ₹2,28,286.
A ₹2,08,286 penalty under Section 271C was levied for non-deduction and non-depos
Bayer CropScience Final Dividend ₹60/Share TDS Update
Bayer CropScience declared a final dividend of ₹60 per equity share for FY 2025-26, payable to shareholders on record as of August 5, 2026.
The company detailed new TDS procedures under the Income Tax
SVL Ltd RP Seeks Income Tax Attachment Lift
SVL Ltd's Resolution Professional files NCLT application to remove Income Tax attachment on corporate debtor's bank accounts.
The application seeks to direct Income Tax Dept to cancel lien and banks t
Archean Chemical Receives ₹34.24 Lakh Tax Penalty
Archean Chemical received a penalty order of ₹34.24 lakh for AY 2017-18 from the Deputy Commissioner of Income Tax.
The penalty was imposed under section 270A for under-reported income alleged to be d
Harish Textile Receives Income Tax Reassessment Order
Harish Textile Engineers received Income Tax Order under Section 148A(3) and Notice under Section 148 for AY 2021-22 reassessment.
The order, received June 30, 2026, deems the case fit for reassessmen
FirstCry ESOP Trust Receives Income Tax Notice
Brainbees ESOP Trust received an Income Tax Order and Notice for A.Y. 2022-23 concerning share issuance valuation.
The IT Department alleges income escaped assessment on 1.04 crore shares issued at fa
Mukka Proteins Income Tax Appeal Partly Allowed
Mukka Proteins received appellate order dated 30th June 2026 from CIT(A)-2, Panaji for AY 2018-19 income tax dispute.
Appellate authority deleted ₹8.08 crore additions but sustained ₹7.54 crore additi
Digitide Solutions Receives ₹19.76 Crore Tax Refund
Digitide Solutions received an income tax refund of ₹19.76 crore from the CPC, Bengaluru for AY 2025-26.
The refund comprises ₹18.38 crore in principal tax and ₹1.38 crore in interest, received on Jun
Bombay Dyeing FY26 ₹0.40 Dividend TDS Intimation
Bombay Dyeing Board recommended ₹0.40 per share dividend for FY 2025-26, subject to AGM approval on August 7, 2026.
Company issued detailed TDS procedures for resident (10%) and non-resident (20%) sha
Max Healthcare Receives ₹32.8 Lakh Income Tax Penalty
Max Healthcare received an income tax penalty order of ₹32.81 lakh for journal entry transactions deemed non-compliant.
The penalty relates to internal liability settlements through journal entries fo