Search Results for "Income Tax Act Section 132"

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Bombay High Court Allows Appeal in Income Tax Case — Reassessment Notice Invalid Beyond Four Years Without Allegation of Non-Disclosure. Arbitration Award Receipt Held as Capital Receipt, Not Income Under Section 147 of the Income Tax Act, 1961.

The appellant, Ramona Pinto, an individual, filed an appeal under Section 260A of the Income Tax Act, 1961, against an order dated 2nd April 2018 pass...

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High Court of Karnataka Dismisses Revenue's Appeal in Transfer Pricing Adjustment Case — Held that ITAT Correctly Deleted Addition for Non-Compete Fee Paid to AE Without Adequate Justification. The court found no substantial question of law as the Tribunal's findings were factual and not perverse.

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) filed appeals under Section 260A of the Income Tax Act, 1961 against...

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Supreme Court Upholds Tax Authorities in Madras Urban Land Tax Act — Act Held Constitutionally Valid. Levy of 0.4% on Market Value of Urban Land Under Madras Urban Land Tax Act, 1966 Not Violative of Articles 14 and 19(1)(f), and Retrospective Operation Reasonable.

The case concerned the constitutional validity of the Madras Urban Land Tax Act, 1966, which levied a tax on urban land at 0.4% of its market value. T...

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Bombay High Court Quashes Transfer of Income Tax Case from Pune to Mumbai for Lack of Proper Hearing and Application of Mind. Transfer under Section 127(2) of Income Tax Act, 1961 set aside as Commissioner failed to consider petitioner's objections and did not provide reasons for transfer.

The petitioner, Shikshana Prasaraka Mandali, a public charitable trust established in 1888 engaged in running educational institutions, challenged the...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reopening Based on Change of Opinion on Already Disclosed Loan Transactions is Invalid.

The petitioner, Jainam Investments, a partnership firm engaged in trading of shares and securities, filed its income tax return for Assessment Year 20...

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High Court of Judicature at Bombay Considers Wealth Tax References and Writ Petition on Inclusion of Seized Gold in Net Wealth. Assessee Challenged Valuation of Gold Seized Under Gold Control Act, Claiming Nil Value Due to Confiscation and Revenue's Prevention of Investment in Exempt Gold Bonds.

The matters before the Bombay High Court comprised wealth tax applications, references, income tax appeals, and a writ petition arising from inclusion...

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Bombay High Court Dismisses Appeal Against Dismissal of Suit Challenging Compulsory Purchase Order Under Income Tax Act. Suit Seeking Declaration That Compulsory Purchase Order Stood Abrogated Was Barred by Section 269-UN and Section 293 of the Income Tax Act, 1961, Which Exclude Civil Court Jurisdiction.

The appeal was filed against the order dated 7th April 2014 passed by a learned Single Judge of the Bombay High Court dismissing the plaintiff's suit ...