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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.

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

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High Court of Bombay Hears Writ Petitions Challenging Deletion of Names from Co-operative Society's Voter List. Petitioners Argue That Partnership Firm Default Does Not Disqualify Individual Members Under Section 27 of Maharashtra Co-operative Societies Act, 1960.

The case comprised two writ petitions filed by three individuals who were members of Yogeshwar Co-operative Credit Society Ltd., Dhule. They challenge...

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High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...

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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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High Court of Karnataka Hears Two Regular First Appeals Under Section 96 CPC Against Common Judgment in Suits for Declaration, Injunction, Partition, and Dissolution of Partnership — Property Dispute Involving Sites in Mysore and Bangalore

The Regular First Appeals RFA No.37/2003 and RFA No.84/2003 were filed under Section 96 of the Code of Civil Procedure, 1908, challenging the common j...

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WRIT PETITION NO.4761 OF 2024

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Bombay High Court Frames Preliminary Issue of Limitation in Partition Suit Over Property Bequeathed by Will. Plaintiffs Claim Share in Villa Bemvinda and Challenge Development Agreement After Probate Was Granted and Revocation Petition Dismissed.

The dispute arose over Villa Bemvinda, a property in Bandra, Mumbai, originally owned by Andrew D'Cunha. He executed a will on 20.2.1971 bequeathing t...