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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case Upholding Addition of Unexplained Cash Credits Under Section 68. Assessee's Failure to Maintain Books of Account and Provide Confirmations for Loan Amounts Justifies Invocation of Section 68 of Income Tax Act, 1961.

The appeal arose from an order of the Income Tax Appellate Tribunal dated 30-07-2014, which upheld the addition of certain amounts as unexplained cash...

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Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.

The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reopening Case — Notice Under Section 148 Held Invalid as No Reasons Recorded. Assessee's Return Accepted Under Section 143(1) Cannot Be Reopened Without Proper Justification Under Section 147 of the Income Tax Act, 1961.

The case pertains to an appeal filed by the Revenue (Commissioner of Income Tax and Deputy Commissioner of Income Tax) against the order of the Income...

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High Court of Karnataka Enhances Compensation for Death of Housewife in Motor Vehicle Accident — Multiplier Corrected from 13 to 14 and Future Prospects Added. Loss of Dependency Calculated at Rs. 4,500 per Month with 1/3rd Deduction, and Conventional Heads Awarded as per Pranay Sethi.

The appeal was filed by Santosh (husband) and his minor daughter Prarthana (through father) under Section 173(1) of the Motor Vehicles Act, 1988, seek...

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Bombay High Court Allows Assessee's Appeal in Bogus Purchases Case — Disallowance of 10% Purchases Set Aside. ITAT's finding that AO's order was not based on cogent evidence required full deletion of addition, not partial disallowance.

The case involves three Income Tax Appeals filed by the Assessee, Ashok Kumar Rungta, challenging the ITAT's order dated August 9, 2017, which upheld ...

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Supreme Court Allows Appeal in Motor Accident Claim Case Due to Incorrect Application of Multiplier and Omission of Future Prospects. Deceased was a 25-year-old police constable; Court restored compensation with multiplier of 18, 50% future prospects, and 9% interest.

The present appeal arises from a motor accident claim. On 23.07.2012, Sachin Kumar, a 25-year-old police constable, died in a collision caused by a ra...