TV Today: ITAT Rules in Company's Favor; Dept Appeal Dismissed

The Income Tax Appellate Tribunal (ITAT), New Delhi, has dismissed the Income Tax Department's appeal and ruled in favor of TV Today Network Ltd for Assessment Year 2018-19. The dispute involved ₹12,46,14,878 out of five grounds initially decided by CIT Appeals in favor of the company, and ₹1,52,42,500 which was dismissed, against which the company filed an appeal. The ITAT admitted the company's appeal and ruled in its favor, while dismissing the department's appeal on all three grounds involving ₹12,43,38,323.