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Search Results for "ITAT order"

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High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment based on mere change of opinion on share premium addition under Section 68 is invalid as all material was disclosed during original assessment.

10 Jul 2023

The petitioner, Rajshree Realtors Private Limited, a real estate company, filed its return of income for Assessment Year 2012-2013 declaring income of...

Supreme Court

Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

25 Apr 2023

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

Supreme Court

Supreme Court Allows Revenue's Appeal in Income Tax Case — Amalgamated Company Must File Return for Pre-Amalgamation Period. Section 153A Notice Validly Issued to Transferor Company Despite Amalgamation, and Failure to File Return Attracts Penalty Under Section 276CC.

1 Jan 2022

The Supreme Court allowed the appeal filed by the Principal Commissioner of Income Tax (Central) against the order of the Delhi High Court, which had ...

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Tax Case — ITAT Correctly Quashed Commissioner's Revisional Order Under Section 263 of Income Tax Act. The Court Held That the Assessing Officer's Order Was Not Erroneous or Prejudicial to Revenue as Inquiries Were Conducted and a Plausible View Was Taken.

14 Jan 2021

The case involves a tax appeal by the Principal Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which set asi...

High Court

High Court of Bombay at Goa Allows Assessee's Appeal in Income Tax Deduction Case Under Section 10B — CIT Cannot Revise Assessment Under Section 263 Without Proper Inquiry. The court held that the Commissioner must record satisfaction that the assessment order is both erroneous and prejudicial to the interest of revenue, and mere lack of discussion does not make it erroneous if the Assessing Officer has made due inquiries.

2 Nov 2020

The case involves two tax appeals filed by Sesa Starlite Limited (formerly Sesa Goa Ltd.) against the Commissioner of Income Tax (CIT) concerning the ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Tax Case, Upholds ITAT Order Treating Contribution for Bridge Construction as Revenue Expenditure. Contribution of ₹1,38,54,167 by Mining Company to Government Undertaking for Bridge Construction Held to be Revenue Expenditure Under Section 37(1) of Income Tax Act, 1961, as It Was for Smooth Running of Business and Not for Acquisition of Capital Asset.

9 Jul 2019

The case involves a tax appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT), Panaji Bench, which he...

High Court

High Court Dismisses Assessee's Writ Petition Challenging Reassessment Under Section 153A of Income Tax Act, 1961. Court holds that initiation of proceedings under Section 153A was valid as search was conducted and mandatory conditions were satisfied.

7 Nov 2017

The petitioner, Prathibha Jewellery House, a partnership firm represented by its partner Sri S N Sharath Kumar, filed writ petitions under Articles 22...

High Court

High Court Dismisses Revenue's Appeal in Educational Society Exemption Case — Surplus from Tuition Fees Does Not Disqualify Exemption Under Section 10(23C)(iiiad) of Income Tax Act, 1961. The court held that the mere generation of surplus from tuition fees does not indicate a profit motive, and the surplus applied for educational purposes does not disentitle the institution to exemption.

18 Mar 2013

The case involved appeals by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) granting exemption under Section 10(23C)(iiiad)...

High Court

High Court of Karnataka Upholds Exemption for Educational Society under Section 10(23C)(iiiad) of Income Tax Act, 1961 — Society Not Required to Be Solely an Educational Institution. Income from letting out auditorium and other properties used for educational purposes qualifies for exemption.

18 Mar 2013

The case involves appeals by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) granting exemption under Section 10(23C)(iiiad)...

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Case — Prima Facie Adjustment Under Section 143(1)(a) Cannot Include Provision for Doubtful Debt. The ITAT was right in holding that adjustment for provision for doubtful debt is outside the ambit of prima facie adjustment under Section 143(1)(a) of the Income Tax Act, 1961.

28 Jun 2011

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which deleted a prima faci...

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