Search Results for "unexplained investment"

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Search Results for "unexplained investment"

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High Court

Bombay High Court Allows Appeal in Income Tax Case — HDPE Powder Stock Not Unexplained Investment Under Section 69. Assessee's books of accounts showing purchases and closing stock were accepted, and nature and source of investment were duly explained.

17 Jan 2005

The appeal was filed by the assessee, Babulal C. Borana, a dealer in HDPE plastic powder, under Section 260A of the Income Tax Act, 1961 against the d...

High Court

Bombay High Court Allows Appeal in Income Tax Case — HDPE Powder Found During Search Held Part of Recorded Stock, Not Unexplained Investment Under Section 69. Goods recorded in books of accounts as purchases and closing stock cannot be treated as unexplained investment under Section 69 of Income Tax Act, 1961.

17 Jan 2005

The appellant-assessee, Babulal C. Borana, a dealer in HDPE plastic powder, filed an appeal under section 260A of the Income Tax Act, 1961 against the...

Supreme Court

Supreme Court Dismisses Contempt Petitions Against WPL in Super Bazar Revival Case — No Willful Disobedience of Orders Found. Revival Scheme Implemented Under Court Supervision; Payments Made as Directed.

5 Mar 2020

The judgment pertains to contempt petitions filed against M/s Writers and Publishers Pvt. Ltd. (WPL) alleging willful disobedience of court orders in ...

High Court

Bombay High Court Allows Appeal in Income Tax Block Assessment Case — Unexplained Investment and Worker Count Issues Remanded. Held that advances to sister concern from disclosed bank account cannot be treated as unexplained investment without proper inquiry, and that clerical staff may be counted as workers for deduction under Section 80-IA.

5 Nov 2014

The appellant, Herald Publications Pvt. Ltd., a publisher of the daily newspaper 'Herald', was subjected to a search under Section 132 of the Income T...

Supreme Court

Supreme Court Dismisses Appeal in Forfeiture Case Under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976. The court upheld the forfeiture of a theatre property as the appellants failed to prove legitimate sources of funds and were associates of a person detained under COFEPOSA, with no entitlement to pay a fine in lieu of forfeiture under Section 9.

22 Mar 2023

The appeal arose from a judgment of the High Court of Karnataka upholding an order forfeiting M/s. Platinum Theatre under the Smugglers and Foreign Ex...

High Court

Bombay High Court Dismisses Petition Challenging Forfeiture of Properties under SAFEMA. Detention Order Under COFEPOSA Validly Triggers SAFEMA Proceedings Despite Non-Execution of Detention and Redemption of Confiscated Currency.

27 Jul 2011

The petitioner, Smt. Yamini S. Bhagwanji, challenged the forfeiture of three immovable properties and certain bank accounts under the Smugglers and Fo...

High Court

Bombay High Court Allows Appeal Under Section 37 of Arbitration Act, Setting Aside District Court's Order That Had Set Aside Arbitral Award on Grounds Beyond Section 34 Scope. The Court Held That Reappreciation of Evidence Is Not Permissible Under Section 34 of the Arbitration and Conciliation Act, 1996, and the District Court Exceeded Its Jurisdiction.

21 Nov 2019

The appellant, M/s. Scigen Biopharma Pvt. Ltd., filed an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, challenging an order d...

Supreme Court

Supreme Court Dismisses Revenue's Appeal Against Quashing of Reassessment Notice Under Income Tax Act Due to Lack of Tangible Material and Improper Reliance on Income Declaration Scheme. Reassessment Initiated Based on Accommodation Entries and Declaration Under Section 183 of Finance Act, 2016 Held Invalid as AO Failed to Establish 'Reasons to Believe' Income Escaped Assessment for AY 2010-11.

28 Mar 2022

The dispute arose from a reassessment notice issued by the Commissioner of Income Tax under Sections 147/148 of the Income Tax Act, 1961, for the asse...

High Court

Bombay High Court Dismisses Probate Petition for Will and Codicil of Dr. Bharati Nanavati Due to Suspicious Circumstances and Failure to Dispel Doubts. Court holds that propounders must prove due execution and testamentary capacity beyond suspicion, and failure to examine attesting witnesses or explain unnatural bequests leads to rejection of probate.

22 Feb 2018

The judgment concerns two testamentary proceedings: a Miscellaneous Petition No. 39 of 2004 in Testamentary Petition No. 233 of 2004 and a Testamentar...

High Court

Bombay High Court Dismisses Probate Petition for Will and Codicil of Dr. Bharati Nanavati Due to Suspicious Circumstances and Failure to Prove Execution. Court finds that the Will and Codicil were not proved in accordance with Section 63 of the Indian Succession Act, 1925, and Section 68 of the Indian Evidence Act, 1872, due to lack of attesting witnesses and suspicious circumstances surrounding the documents.

22 Feb 2018

The judgment concerns two connected matters: a Miscellaneous Petition (No. 39 of 2004) and a Testamentary Suit (No. 4 of 2005), both relating to the e...

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