Search Results for "assessment year 2004-2005"

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Bombay High Court Dismisses Petition Challenging Trade Circulars Restricting CST Exemption to Registered Dealers. State Government Cannot Grant Exemption for Inter-State Sales to Unregistered Dealers Under Section 8(5) of Central Sales Tax Act, 1956 After 2002 Amendment.

The petitioners, Prism Cement Limited and its shareholder/director, filed a writ petition challenging three trade circulars issued by the Commissioner...

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Bombay High Court Upholds Deduction Under Section 80IB for Assessee Engaged in Manufacture Through Job Workers. Workers Supplied by Contractor Count Towards Employee Requirement Under Section 80IB(2)(iv).

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal which allowed deduction under Sec...

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Bombay High Court Quashes Reopening of Assessment for UK Insurance Company in Income Tax Case — Lack of Fresh Material and Change of Opinion. Reopening under Section 147 of Income Tax Act, 1961 based on mere change of opinion without new tangible material is invalid.

The petitioner, The Prudential Assurance Company Ltd., a UK-incorporated insurance company registered as a sub-account of a Foreign Institutional Inve...

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Bombay High Court Quashes Reopening of Assessments Under Section 148 for Lack of Fresh Material — Deduction Under Section 80IB Allowed After Scrutiny in Original Assessment. Reopening Based on Same Facts Already Examined Under Section 143(3) Amounts to Change of Opinion and Is Invalid.

The petitioner, Purity Techtextile Private Limited, challenged the reopening of its income tax assessments for Assessment Years 2003-2004 and 2004-200...