Supreme Court

Scroll Down To Discover

Sort by:

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Revenue Appeal in Wealth Tax Case Concerning Leasehold Interest in Salt Pans. Precarious Lease Terminable Annually Held Not to Be an 'Asset' Under Section 2(e)(v) of Wealth-tax Act, 1957, as Interest is Available for Period Not Exceeding Six Years from Valuation Date....

The case arose from a wealth tax assessment for the year 1959-60 where the Wealth-tax Officer computed the value of the respondent-assessee's leasehold interest in two salt pans and included it in her...

© Image Copyrights Juris Services & Technology

Supreme Court Allows Revenue Appeal in Income Tax Matter, Holding Bonus Shares Converted into Stock-in-Trade are Taxable as Business Profits. Bonus Shares Initially Received as Capital Held Converted by Assessee Dealer into Stock-in-Trade, Making Sale Proceeds Taxable Under Income-tax Act, 1922....

The dispute concerned the tax treatment of sale proceeds of bonus shares received by a dealer in shares and securities. The assessee, a firm dealing in stocks and shares, held shares of certain compan...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Municipal Corporation's Appeal in Land Acquisition Compensation Case — No Withdrawal from Acquisition Possible Under Madhya Bharat Municipal Corporation Act, 1956. Court Affirms Solatium Payable and Limits High Court's Revision Jurisdiction to Not Re-examine Sufficiency of Compensation Under Sections 305, 387, 392....

These appeals by special leave arose from proceedings for fixation of compensation for land acquired by the Municipal Corporation, Indore under its Road Widening Scheme. The respondent landowner, diss...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Income-tax Officer's Appeals; Upholds Requirement of Yearly Notice Under Section 43 of Income-tax Act, 1922. Advance Tax Demand as Agent of Non-Resident for Subsequent Year Without Fresh Appointment Held Invalid....

The case involved an appeal by the Income-tax Officer, Bombay (appellant) against the judgment of the Bombay High Court quashing demand notices issued to Tata Engineering & Locomotive Co. Ltd. (respon...

© Image Copyrights Juris Services & Technology

Supreme Court Upholds Plaintiff Landlord’s Suit for Possession; Bombay Tenancy Act’s Statutory Ownership Provisions Inapplicable During Court of Wards Management; Court Refuses to Refer Issue of Tenancy When Not Raised. Lease Expired Before Cessation of Management, Hence No Statutory Ownership Under Section 88 of Bombay Tenancy and Agricultural Lands Act, 1948....

This civil dispute concerned a claim for possession of agricultural lands forming part of a Devasthan inam estate. The plaintiff, a minor heir, inherited the estate after his father’s death, and the...

© Image Copyrights Juris Services & Technology

Supreme Court Upholds Income Tax Department's Reassessment in Escaped Assessment Case Due to Assessee's Failure to Disclose. Non-Disclosure of Firm Income and Unexplained Investments Attracted Section 34(1)(a) of Income-tax Act, 1922, Validating Reassessment for Assessment Year 1944-45....

The appeals arose from reassessment proceedings under section 34 of the Indian Income-tax Act, 1922 concerning a Hindu Undivided Family for the assessment year 1944-45. The original assessment on Febr...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Income-Tax Officer's Appeal, Affirming That Notice Under Section 148 of Income-tax Act, 1961 Could Not Be Issued as Right to Reopen Under Section 34 of Income-tax Act, 1922 Was Barred. Section 297(2)(d)(ii) of 1961 Act Does Not Revive Time-Barred Reassessment Powers....

The case involved an income-tax reassessment dispute arising under the Income-tax Act, 1922 and the Income-tax Act, 1961. The respondent, an assessee, was originally assessed for the assessment year 1...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Revenue's Appeals on Interpretation of 'Assessed' in Section 18A(3) of Indian Income-tax Act, 1922. The Court Holds That Provisionally Assessed Persons Are Not 'Hitherto Not Assessed' and Not Liable for Failure to File Advance Tax Estimates Under Section 18A(3), Upholding High Court's Quashing of Penalty and Interest Orders....

The case arose from demands of interest and penalty made by the Income Tax Officer, Kanpur against four partners—Mani Ram, Jagmohan, Kishandas, and Bhagirathmal—of the firm Shri Kishan Das, Dhanku...

© Image Copyrights Juris Services & Technology

Supreme Court Upholds Assessee's Exclusion of Sale Proceeds from Turnover in Central Sales Tax Case. Isolated Sale of Discarded Fixed Assets Not Considered Part of Dealer's Business Activity Under Section 2(b) of Central Sales Tax Act, 1956....

The dispute arose out of assessment proceedings under the Madras General Sales Tax Act, 1959, read with the Central Sales Tax Act, 1956, concerning the liability of M/s. K.C.P. Ltd. to pay sales tax o...