Search Results for "Income Tax Act Section 132"

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Search Results for "Income Tax Act Section 132"

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High Court

High Court of Karnataka Dismisses Revenue's Challenge to Settlement Commission Order in Income Tax Search Case — No Speaking Order Required at Preliminary Stage Under Section 245D(1). The court held that the Settlement Commission's order to proceed with an application under Section 245D(1) of the Income Tax Act, 1961, need not be a speaking order and that the Commission has discretion to allow the application even if the assessee has not made full disclosure or paid full tax at that stage.

18 Jan 2016

The case involves a challenge by the Commissioner of Income Tax, Karnataka (Central), against an order dated 3.4.2014 passed by the Income Tax Settlem...

Supreme Court

Supreme Court Allows Revenue Appeals in Section 153A Search Assessment Dispute — Assessing Officer Can Assess Total Income Including Non-Incriminating Material. The Court held that under Section 153A of the Income Tax Act, 1961, the Assessing Officer is competent to assess total income considering all material on record, not limited to incriminating material found during search.

24 Apr 2023

This batch of appeals involves a common question of law regarding the scope of assessment under Section 153A of the Income Tax Act, 1961. The Revenue ...

High Court

Bombay High Court Allows Petitions by Offshore Drilling Companies Challenging Reassessment Notices Under Section 148 of Income Tax Act, 1961 — Notices Quashed for Being Time-Barred and Lacking Proper Sanction. Reassessment notices for AY 2014-15 and 2015-16 were issued beyond the four-year time limit under Section 149 without any allegation of failure to disclose material facts, and the sanction under Section 151 was granted without proper application of mind.

4 Aug 2023

The petitioners, Shelf Drilling Ron Tappmeyer Limited, Shelf Drilling J.T. Angel Limited, and Shelf Drilling Trident XII Limited, are companies incorp...

High Court

High Court of Karnataka Adjudicates TDS Obligations of Turf Clubs on Stake Money Payments to Horse Owners under Income Tax Act. Interpretation of Section 194B and CBDT Circulars Central to Dispute over Characterization of Stake Money as Winnings.

26 Sep 2014

The case involved writ petitions filed by Bangalore Turf Club Limited, Mysore Race Club Limited, Karnataka Race Horse Owners Association, and an indiv...

High Court

High Court Quashes Reopening Notice Under Section 148 in Absence of Failure to Disclose Material Facts. Deduction Under Section 33AC of Income Tax Act, 1961 Allowed on Total Income, Reassessment Invalid.

25 Nov 2021

The petitioner, a shipping company, challenged a notice under Section 148 of the Income Tax Act, 1961 seeking to reopen its assessment for Assessment ...

High Court

Bombay High Court Holds Offences Under Section 132(1)(i) of CGST Act Are Bailable — Petitioner Entitled to Release on Bail. The court interpreted Section 132(5) of the CGST Act, 2017 to determine that offences punishable with imprisonment of five years or less are bailable, and arrest under Section 69 does not alter the bailable nature.

8 Feb 2021

The petitioner, Yogesh Jagdish Kanodia, was arrested on 30 December 2020 by the Assistant Commissioner of State Tax (Investigation-B), Mumbai, under S...

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

Bombay High Court Upholds Settlement Commission's Rejection of Settlement Application for Non-Pending Assessment Proceedings. Settlement Application Filed Before Expiry of Reassessment Limitation Does Not Constitute Pending Proceedings Under Section 245A(b) of Income Tax Act, 1961.

17 Jan 2014

The petitioner, M/s. Shriniwas Machine Craft Pvt. Ltd., a company engaged in fabrication of sheet metal canopies for diesel generating sets, filed a w...

High Court

High Court of Karnataka Hears Petitions Against TDS Notices Issued to Turf Clubs Under Section 194B of Income Tax Act — Argued That Stake Money Is Not Winnings. Petitioners Contend That CBDT Circular No.467 Exempts Stake Money From TDS and That Such Payments Are Business Income Taxable Under Section 74A, Not Winnings Under Section 194B.

26 Sep 2014

The batch of writ petitions before the High Court of Karnataka at Bangalore arose from notices issued by the Income Tax Department to turf clubs in Ba...

High Court

Bombay High Court Hears Writ Petition Challenging Reopening Notice Under Section 148 of Income Tax Act; Assessee Asserts Long Term Capital Loss on Capital Reduction Was Fully Disclosed and Reassessment After Four Years Is Impermissible Without Failure to Disclose Material Facts. Reasons for Reopening Alleged No Transfer Occurred Despite Supreme Court Precedent That Extinguishment of Rights in Capital Asset Constitutes Transfer.

30 Sep 2021

The matter arose from a writ petition filed by the assessee challenging a notice under Section 148 of the Income Tax Act, 1961 and the subsequent orde...

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