Search Results for "annual accounts"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
Supreme Court Upholds Refusal to Eschew Proof Affidavit in Probate Proceedings. ...
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Search Results for "annual accounts"

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High Court

Karnataka High Court Allows Input Tax Credit Based on Annual Audited Accounts in KVAT Act Cases. The court held that Section 10(3) of the KVAT Act permits availment of input tax credit based on the annual audited statement in Form VAT 240, irrespective of the claim in returns under Section 35.

6 Dec 2019

The judgment involves multiple writ petitions filed by M/s MFAR Constructions Pvt. Ltd. and M/s Mangalore Force, challenging the interpretation of Sec...

Supreme Court

Supreme Court Dismisses Assessee's Appeal Against Inclusion of Interest Credits as Taxable Income Under Section 4(1)(a) of Income-tax Act, 1922. Mercantile System Credit Entries for Interest from Own Shop in Native State Treated as Income Received in British India.

3 Oct 1958

The assessee, ordinarily resident in British India, carried on business at Khurja and Aligarh in India and at Chistian in the Indian State of Bahawalp...

High Court

High Court of Karnataka Adjudicates Income Tax Appeals Filed by Assessee and Revenue Under Section 260-A of Income Tax Act, 1961. Multiple Appeals Clubbed for Hearing Involving Assessment Years 2001-2002 to 2004-2005.

25 Mar 2015

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High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Mere Change of Opinion Not Sufficient to Reopen Assessment After Scrutiny. The court held that reopening based on same material considered during scrutiny assessment is invalid as it amounts to a change of opinion.

4 Mar 2010

The petitioner, Rallis India Limited, filed its return of income for assessment year 2004-2005 declaring a loss of Rs.52.87 crores, which included a d...

High Court

Madras High Court Allows Assessee's Appeal in MAT Computation Case — Capital Gain on Sale of Fixed Assets Cannot Be Added to Book Profit Under Section 115JB When Not Credited to Profit and Loss Account. The Court held that the Assessing Officer cannot rework book profit under Section 115JB by including capital gains directly absorbed in the balance sheet, as the computation under Section 115JB must be based on the profit as shown in the profit and loss account prepared in accordance with the Companies Act.

20 Mar 2026

The appellant, M/s PVP Corporate Parks Pvt. Ltd., a private limited company engaged in leasing and renting of amenities and buildings, filed its incom...

High Court

Bombay High Court Quashes Reopening of Assessments for Life Insurance Company Due to Change of Opinion and Lack of Full Disclosure. Reassessment notices under Section 147 of Income Tax Act, 1961 for AY 2002-03, 2003-04, and 2004-05 held invalid as the Assessing Officer had already examined the method of computation under Section 44 of Insurance Act, 1938 during original assessment.

8 Mar 2010

The petitioner, ICICI Prudential Life Insurance Company Limited, is a life insurance company registered under the Insurance Act, 1938. It filed its re...

High Court

High Court of Karnataka at Bengaluru considers batch of income tax appeals under Section 260-A of the Income Tax Act, 1961 challenging ITAT orders for assessment years 2001-02 to 2004-05. Assessee and Revenue both seek to set aside the ITAT decisions and frame substantial questions of law.

25 Mar 2015

The High Court of Karnataka at Bengaluru dealt with a batch of income tax appeals filed under Section 260-A of the Income Tax Act, 1961. The appeals a...

Tribunals

NCLAT Allows Appeal of Financial Creditor in IBC Limitation Dispute — Balance Sheet Acknowledgment Extends Limitation Under Section 18 of Limitation Act, 1963. The Corporate Debtor's balance sheet recording 'secured borrowings' constituted acknowledgment of debt, saving the Section 7 application from being time-barred.

30 Nov -0001

The appeal was filed by IL&FS Financial Services Limited (Financial Creditor) against the order of the National Company Law Tribunal, Guwahati Bench, ...

Supreme Court

Supreme Court Directs Audit of Temple Trust in Compliance with Previous Judgment Amid Financial Crisis. The court ordered the Sree Padmanabha Swamy Temple Trust to provide accounts for a special audit as per the Amicus Curiae's recommendation, overriding the Trust's claim of separateness, due to the temple's severe financial distress from COVID-19 lockdowns.

22 Sep 2021

The Supreme Court dealt with miscellaneous applications concerning Sree Padmanabha Swamy Temple, addressing compliance with its previous judgment dire...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reopening Based on Change of Opinion on Already Disclosed Loan Transactions is Invalid.

24 Aug 2021

The petitioner, Jainam Investments, a partnership firm engaged in trading of shares and securities, filed its income tax return for Assessment Year 20...

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