Supreme Court dismisses company's appeal in Income Tax matter involving Rs. 1.07 Crore
The Supreme Court, by order dated 18 September 2026, dismissed the company's appeal relating to disallowance of deduction under Section 80HHC and Sections 28(iiia)-28(iiie) for AY 2000-01 and 2001-02.
- Supreme Court Order Date
- 18 September 2026
- Order Received Date
- 21 September 2026
- Aggregate Amount Involved
- Rs. 1.07 Crore
- Assessment Years
- AY 2000-01 and 2001-02
- Sections Disallowed
- Section 80HHC and Sections 28(iiia)-28(iiie)
What happened
The company reported a development in an ongoing income tax litigation. The Income Tax authorities had disallowed deductions under Section 80HHC and under Sections 28(iiia) to 28(iiie) of the Income Tax Act, 1961 for AY 2000-2001 and 2001-2002, and also disallowed exemption of income earned as interest on margin money.
How the case moved
- Orders were in favour of the company until the judgment of the Delhi High Court.
- The company then appealed to the Supreme Court against the High Court order.
- By order dated 18 September 2026, received by the company on 21 September 2026, the Supreme Court dismissed the company's appeal for those years.
Amount involved
The aggregate amount involved under the above litigations was Rs. 1.07 Crore.
Other points
- The company stated there was an inadvertent delay in submitting this intimation due to some inevitable reasons.
- Settlement-related disclosures were marked Not Applicable.
The outcome is adverse to the company in these assessment years, and investors may read it alongside the stated amount involved.
More numbers
- Aggregate amount involved in litigationsRs. 1.07 Crore
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