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High Court of Bombay Quashes Reopening Notice Against Assessee on Ground of Change of Opinion. Reassessment beyond four years not permissible when primary facts fully disclosed and no failure to disclose material facts.

The petitioner, a private limited company engaged in selling hair care products and providing consultancy services, challenged a notice dated 29 March...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Architect Allowed Deduction Under Section 80O for Foreign Exchange Receipts. Architectural Designs Constitute Intellectual Property Eligible for Deduction Under Section 80O of the Income Tax Act, 1961.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal dated ...

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Bombay High Court Allows Appeal in Income Tax Case: Investment in Shares of Private Company for Acquiring Control Held as Capital Asset, Not Stock-in-Trade. Shares held for 31 months with transfer restrictions cannot be treated as trading asset under Income Tax Act, 1961.

The appellant, Accra Investments Private Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order dated 25 April 2012 of...

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Bombay High Court Examines Validity of Notification Exempting Light Motor Vehicles and MSRTC Buses from Toll on Sion-Panvel Highway. Dispute Arises from Concession Agreement Where Petitioner Alleges Arbitrary Exemptions Cause Substantial Daily Revenue Loss and Contradicts Terms of Agreement.

The dispute arose from a concession agreement for widening and maintaining an arterial highway from Mumbai to Panvel, awarded to M/s Sion Panvel Tollw...

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Bombay High Court Quashes Reassessment Notice Issued to Deceased Assessee Without Substituting Legal Heir — Notice Under Section 148A(b) and 148 of Income Tax Act, 1961 Held Invalid as Proceedings Not Initiated Against Proper Person

The petitioner, Dhirendra Bhupendra Sanghvi, as the legal heir of Late Smt. Ushaben Bhupendra Sanghvi (the deceased assessee), filed a writ petition u...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Mere Change of Opinion Invalid. Reassessment Based on Same Commencement Certificate Date Already Considered in Original Assessment Under Section 143(3) Cannot Be Sustained.

The petitioner, M/s. Mistry Lalji Narsi Development Corporation, a partnership firm engaged in development and construction, challenged a notice issue...