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Bombay High Court Adjudges Two Petitions Challenging Collector's Order Forfeiting Reclamation Lease and Imposing Payment Conditions. Petitions Examine Validity of Forfeiture and Entitlement to Regularization Under Rule 40 of Bombay Land Revenue Rules, 1921.

Two writ petitions, WP No. 7104 of 2002 by M/s Baf-Hira Builders Private Limited and WP No. 2004 of 2015 by Eric Anselem Mendes and Austin Gabriel Men...

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Bombay High Court Allows Writ Petition Challenging Reassessment Notices for Non-Disclosure of Reasons. Failure to Supply Recorded Reasons Under Section 147 of Income Tax Act, 1961 Violates Natural Justice and Renders Reopening Invalid.

The petitioner, Ajay Oxycholoride Floorings, a partnership firm, challenged two notices dated 20th February 1990 and 3rd June 1991 issued by the Assis...

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Bombay High Court Upholds Disallowance of Medical Expenditure on Foreign Tour for Eye Treatment as Personal Expenditure Under Section 37(1) of Income Tax Act, 1961. Expenditure incurred for pre-operation investigation of eyes held to be personal in nature, not allowable as business expenditure.

The case pertains to a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal to the Bombay High Court. The ...

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Bombay High Court Dismisses Revenue's Appeal in Hindalco Industries Tax Case on Section 80HHC Deduction and Capital vs Revenue Expenditure. Tribunal's findings on exclusion of local turnover for export deduction and treatment of financial advisory fees as revenue expenditure upheld.

The appeal was filed by the Commissioner of Income Tax-6 against the order of the Income Tax Appellate Tribunal (ITAT) dated 28.11.2008 in ITA No.3668...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Exemption Under Section 4(3)(vii) of Income-tax Act, 1922. Receipt Held to be Business Income, Not Exempt as Casual or Non-Recurring Receipt, as it Arose from Services Rendered in the Course of Business.

The assessee firm, Ram Kumar Agarwalla and Brothers, carried on business as share brokers and paper merchants. Together with D, a chartered accountant...

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Bombay High Court Allows Assessee's Reference in Income Tax Deduction and Revision Case. The court considered whether the assessee is entitled to deduction under Section 80I and whether the Tribunal correctly sustained the CIT's revision under Section 263 of the Income Tax Act, 1961.

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, M/s. Vijay Udhyog, a part...