Search Results for "Income-tax Act, 1961"

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Search Results for "Income-tax Act, 1961"

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High Court

Bombay High Court Allows Writ Petition Challenging Settlement Commission's Power to Levy Interest Under Section 234B When No Interest Was Charged in Original Assessment. Interest under Section 234B(4) can only be increased or reduced if it was initially chargeable under the original assessment order.

2 Jul 2010

The petitioner, Akbar Travels of India Pvt. Ltd., an IATA approved travel agent and money changer, filed returns for Assessment Years 2002-03 to 2006-...

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

High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.

7 Sep 2017

The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Assessment Reopened Beyond Four Years Without Allegation of Failure to Disclose Material Facts. Reopening Based on Change of Opinion and Audit Objection Held Invalid.

27 Nov 2013

The petitioner, M/s. Lalitha Chem Industries Pvt. Ltd., is engaged in the business of manufacturing chemicals with units at Tarapur and Silvasa. For A...

High Court

Bombay High Court Allows Condonation of Delay in Filing Income Tax Return for Refund Claim. CBDT's Rejection of Condonation Application Set Aside as Reasons for Delay Were Genuine and Not Habitual.

3 Dec 2014

The petitioner, Artist Tree Pvt. Ltd., engaged in dealing in artifacts and finances, filed a return of income for Assessment Year 1997-1998 on 14 Sept...

High Court

Bombay High Court Dismisses Revenue's Appeal in Euro Issue Expenditure Deduction Case — Expenditure Incurred for Raising Capital Abroad Held Deductible as Cost of Acquisition Under Section 48 of Income Tax Act, 1961. No Tax Deduction at Source Required Under Section 195 for Payments to Non-Residents for Services Rendered Outside India.

3 Jul 2014

The case involves an appeal by the Director of Income Tax (International Taxation) against the order of the Income Tax Appellate Tribunal (ITAT) dated...

High Court

Bombay High Court Allows Revenue Appeals in Income Tax Cases on Disallowance of Interest Expenditure on Tax-Free Securities. Held that Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 mandates disallowance of expenditure incurred in relation to income not includible in total income, and the Assessing Officer must record satisfaction before invoking Rule 8D.

16 Apr 2019

The judgment involves a batch of appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging orders of the Income Tax App...

High Court

Bombay High Court Dismisses Revenue's Appeal in Keyman Insurance Premium Deduction Case. Partnership Firm's Premium on Partner's Life Insurance Held Allowable as Business Expenditure Under Section 37(1) of Income Tax Act, 1961.

31 Mar 2010

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal (ITAT) which had co...

High Court

Gujarat High Court Quashes Reassessment Order in Income Tax Case Due to Violation of Natural Justice — Inadequate Time and Denial of Adjournment. Failure to consider adjournment request and grant reasonable opportunity violates principles of natural justice under Section 147 read with Section 144B of the Income-tax Act, 1961.

6 Jan 2026

The petitioner, Meval Vipul Maniar, filed a writ petition challenging the Assessment Order dated 21.03.2023 passed under Section 147 read with Section...

High Court

Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Failure to Disclose Material Facts. Reassessment Beyond Four Years Invalid Without Proof of Non-Disclosure Under Section 147 of Income Tax Act, 1961.

14 Jun 2010

The petitioner, 3i Infotech Limited, challenged a notice dated 18 March 2009 issued by the Assistant Commissioner of Income Tax seeking to reopen the ...

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