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Madras High Court Allows Revenue's Appeals in Income Tax Block Assessment Case - Upholds Addition of Unexplained Cash Credits Under Section 68 of Income Tax Act, 1961. The court held that the assessee failed to prove the genuineness of cash credits, reversing the Tribunal's order.

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, 'B' Bench, Chennai, w...

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Supreme Court Allows Appeal of Taxpayer Against Non-Processing of Income Tax Returns and Refund Claims. Mandamus Issued to Process Returns Under Section 143(1) Within Four Weeks, Subject to Section 143(1D) and Section 241A of the Income Tax Act, 1961.

The appellant, Vodafone Idea Ltd. (formerly Vodafone Mobile Services Ltd), is a telecommunications company that filed income tax returns for Assessmen...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal Correctly Held Commissioner Not Justified Under Section 263 for Alleged Double Deduction of Excise Duty. Assessing Officer Followed Permissible View and Assessee Did Not Claim Deduction Twice.

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (I...

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Bombay High Court Partly Allows Revenue's Appeal on Disallowance of Legal and Professional Charges in Income Tax Case. Tribunal's Order Set Aside Regarding Legal Expenses but Upheld on Depreciation and Section 54EC Deduction.

The appeal by the revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal dated 19/1/2010 in ...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Failure to Disclose — Reassessment Beyond Four Years Invalid Without Allegation of Non-Disclosure

The petitioner, DIL Ltd., challenged a notice dated 8 March 2011 issued under Section 148 of the Income Tax Act, 1961, seeking to reopen the assessmen...

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Bombay High Court Dismisses Revenue Appeal in Income Tax Case, Holds Compensation for Loss of Agency as Capital Receipt. Amount received by assessee for giving up right to use trade mark and resigning as director is capital receipt not taxable under Section 2(24) and Section 4 of Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal allowing the appeal of the assess...

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Bombay High Court Quashes Reopening of Assessment Under Section 147 of Income Tax Act, 1961 for Lack of Full and True Disclosure. Deduction Under Section 80M Allowed Based on Dividend Distributed Before Due Date.

The petitioner, Godrej Agrovet Limited, a domestic company, filed its return of income for Assessment Year 2003-04 on 27th November, 2003 declaring an...

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Bombay High Court Allows Assessee's Reference in Income Tax Case - Interest on Sticky Loans Not Taxable on Accrual Basis. Interest Credited to Suspense Accounts by Financial Corporation Does Not Accrue as Income Under Income Tax Act, 1961 Until Actually Realized.

The case involved a reference under section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, Maharashtra State Financial Corporati...