Search Results for "Income-tax Act 1961"

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Search Results for "Income-tax Act 1961"

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High Court

Bombay High Court Quashes Assessment Order for Breach of Natural Justice in Faceless Assessment - Seven-Day SOP Violated. Income Tax Assessment under Section 144B Set Aside Due to Insufficient Time to Respond to Show Cause Notice.

13 Aug 2024

The petitioner, Cheftalk Food and Hospitality Services Pvt. Ltd., challenged an Assessment Order dated 27 March 2024 passed under Section 144 read wit...

High Court

Bombay High Court Allows Writ Petitions Challenging Reassessment Notices Under Section 148 of Income Tax Act, 1961 — Notices Issued Beyond Time Limit and Without Proper Application of Mind Are Invalid. Reassessment notices for AY 2014-15 and 2015-16 quashed as barred by limitation under Section 149, while notice for AY 2016-17 upheld.

16 Feb 2023

The petitioner, Lok Developers, a registered partnership firm, filed three writ petitions challenging reassessment notices issued under Section 148 of...

High Court

Bombay High Court Allows Assessee's Reference, Holds Interest Income as Business Income in Mining Company's Diversification into Money Lending. Amendment of Memorandum and Articles of Association to include banking and money lending, coupled with actual lending activities, established money lending as a business under Section 28 of Income Tax Act, 1961.

8 Mar 2017

The case involves five Income Tax References filed by M/s Central Provinces Manganese Ore Company Limited, Nagpur, against the Commissioner of Income ...

High Court

Bombay High Court Upholds Tribunal's Remand Order in Income Tax Appeal — Scope of Appellate Powers Under Section 254 of Income Tax Act, 1961. The court held that the Income Tax Appellate Tribunal has the power to remand a matter for fresh assessment when the Assessing Officer has not properly considered the assessee's method of accounting and the quantum of on-money.

15 Nov 2016

The case involves an income tax reference and a connected writ petition filed by Parmanand Builders Pvt. Ltd. (the assessee) against the Commissioner ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Cooperative Bank Deduction Case — Commission Income from Cotton Hundi and Electricity Bill Collection Qualifies for Section 80P(2)(a) Deduction. The court held that such activities are integral to banking business and covered by the deduction.

24 Feb 2015

The case involves two appeals by the Commissioner of Income Tax-III, Nagpur, against the respondent, Amravati District Central Cooperative Bank Ltd, f...

High Court

Bombay High Court Allows Appeal Against Deduction from Gratuity for Cooperative Loan Repayment. Employer Cannot Deduct Gratuity for Loan to Cooperative Society Unless It Is a Government Due Under Rule 132 read with Rule 134 of Maharashtra Civil Service (Pension) Rules, 1982.

23 Dec 2013

The appellant, Ashfaq Husain, was a Section Officer with Zilla Parishad, Washim. Upon his retirement, the respondents (Chief Executive Officer, Block ...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Mere Change of Opinion Not Sufficient to Reopen Assessment After Four Years. The court held that where the original assessment was completed under Section 143(3) after due inquiry, reopening beyond four years requires failure to disclose material facts, which was not established.

18 Jul 2011

The petitioner, Nihilent Technologies Private Limited, a private limited company engaged in software development, challenged a notice dated 29 March 2...

High Court

Bombay High Court Allows Condonation of Delay in Filing Income Tax Return for Cooperative Bank — CBDT Order Quashed for Non-Application of Mind. The court held that the CBDT must consider the reasons for delay, such as delayed statutory audit and change in management, before rejecting an application under Section 119(2)(b) of the Income Tax Act, 1961.

20 Sep 2010

The petitioner, M/s. Bombay Mercantile Coop Bank Ltd., a multi-state cooperative bank registered under the Multi State Cooperative Society Act, filed ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Architect Allowed Deduction Under Section 80O for Foreign Exchange Receipts. Architectural Designs Constitute Intellectual Property Eligible for Deduction Under Section 80O of the Income Tax Act, 1961.

30 Mar 2010

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal dated ...

Supreme Court

Supreme Court Upholds Tax Authorities in Income Tax Case Regarding Refund of Excess Profits Tax. Repayment of excess profits tax received by a company in England deemed income under Section 11(14) of Indian Finance Act, 1946, irrespective of territorial source.

16 Mar 1959

The appellant, McGregor & Balfour Ltd., a company incorporated in the United Kingdom with its head office there, also carried on business in India. In...

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