Search Results for "Income Tax Act, 1961"

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Supreme Court Dismisses Union of India's Challenge to Advisory Board Opinion in COFEPOSA Detention Case — Advisory Board's Opinion of No Sufficient Cause for Detention is Non-Justiciable and Not Subject to Challenge Under Article 136

The case involves a challenge by the Union of India against the opinion of the Advisory Board constituted under the Conservation of Foreign Exchange a...

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Supreme Court Allows Revenue's Appeal in Transfer Pricing Case — CBDT Instruction Not Mandatory. Assessing Officer's Power to Determine Arm's Length Price Under Section 92C(3) Upheld Despite Non-Reference to TPO.

The case involves an appeal by the Principal Commissioner of Income Tax-4, Mumbai against the judgment of the Bombay High Court which dismissed the Re...

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Supreme Court Upholds Pre-emptive Purchase Order Under Income Tax Act for Undervalued Property. Appropriate Authority's Valuation Based on Comparable Sales Upheld as Reasonable.

The Supreme Court dismissed appeals by prospective buyers (Krishna Kumar Rawat & Ors.) and partly allowed the appeal by the Union of India against a H...

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Supreme Court Allows Appeal in Property Dispute Case — Review Jurisdiction Improperly Exercised by High Court. The Court held that the High Court's review order did not satisfy the grounds under Order 47 Rule 1 CPC and was an abuse of process.

The present appeal arises from a long-standing property dispute concerning premises No. 43, Prithviraj Road, New Delhi. The property originally belong...

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Supreme Court Allows Appeal Against Interim Compensation Order Under Section 143A NI Act for Pre-Amendment Offences. Section 143A of the Negotiable Instruments Act, 1881, is Prospective and Cannot Apply to Complaints Filed Before Its Insertion on 1 September 2018.

The case arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881, filed in 2016 against the appellant G.J. Raja by the respon...

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Supreme Court Remands Income Tax Appeal to High Court for Non-Compliance with Section 260A(3) of Income Tax Act, 1961. High Court Failed to Frame Substantial Questions of Law as Mandated, Rendering Its Judgment Unsustainable.

The appellant, Ryatar Sahakari Sakkarre Karkhane Niyamit, an assessee under the Income Tax Act, 1961, filed appeals before the Supreme Court against t...

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Supreme Court Dismisses Appeal of NBFC in Income Tax Dispute on Set-off of Speculation Loss. Principal Business Determined by Actual Activities, Not Registration; Amendment to Explanation to Section 73 Held Prospective.

The appeal arose from a judgment of the Calcutta High Court in an appeal under Section 260A of the Income Tax Act, 1961, concerning the assessment yea...