Search Results for "chargeable expenditure"

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Search Results for "chargeable expenditure"

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High Court

Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Proper Sanction Under Section 151. Sanctioning Authority Must Apply Independent Mind and Not Merely Rely on Proposal of Assessing Officer.

24 Feb 2026

The petitioner, Gulbrandsen Private Limited, filed a writ petition before the Gujarat High Court challenging a notice dated 16.06.2025 issued under Se...

Supreme Court

Supreme Court Allows Assessee's Appeal in Income Tax Deduction Case Under Section 80-IB for Duty Drawback and DEPB Receipts. Court Held That Duty Drawback and DEPB Receipts Are Profits Derived From Business Under Section 80-IB of Income Tax Act, 1961, as They Reimburse Manufacturing and Exporting Costs, Following Meghalaya Steels Limited and Topman Exports Precedents.

10 Apr 2023

The Supreme Court of India heard an appeal by an assessee, a partnership firm engaged in manufacturing and exporting wooden handicraft items, against ...

Supreme Court

Supreme Court Partly Allows Appeals in Income Tax Dispute Over Disallowance of Fees and Taxes Under Section 40(a)(iib) of Income-tax Act, 1961. The Court upheld the High Court's finding that gallonage fee, licence fee, and shop rental for FL9 licences were disallowable as exclusive levies on a State Government undertaking, while those for FL1 licences were not exclusive, and surcharge on sales tax and turnover tax were not fees or charges under Section 40(a)(iib) of the Income-tax Act, 1961.

3 Jan 2022

The appeals arose from a common judgment of the High Court of Kerala in income tax matters involving Kerala State Beverages Manufacturing & Marketing ...

Supreme Court

Supreme Court Allows Club's Appeal in Wealth Tax Case — Club Not Liable as Association of Persons Under Section 21AA of Wealth Tax Act. Members' Shares in Assets on Winding-Up Are Determinate Under Club Rules, and Club's Non-Commercial Character Excludes It from 'Association of Persons' in Taxing Statutes.

8 Sep 2020

The Supreme Court allowed the appeals filed by Bangalore Club against the judgment of the Karnataka High Court, which had held the Club liable to pay ...

High Court

High Court of Bombay Dismisses Revenue's Appeal in Modvat/CENVAT Credit Case — Assessee Entitled to Credit on Moulds Supplied by OEM Without Ownership or Lease. The court held that after the 1994 amendment, Rules 57Q and 57R of Central Excise Rules, 1944 do not require ownership or lease of capital goods for availing credit; use in manufacture is sufficient.

16 Feb 2015

The case involves an appeal by the Commissioner of Central Excise against an order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ...

High Court

Bombay High Court Quashes Reassessment Notice for Stock Exchange in Income Tax Case — Reopening Beyond Four Years Invalid Without Failure to Disclose. Double Deduction Ground Already Decided in Assessee's Favour for Earlier Year.

27 Mar 2012

The Bombay High Court allowed a writ petition filed by Bombay Stock Exchange Limited challenging a notice under Section 148 of the Income Tax Act, 196...

High Court

Bombay High Court Quashes Section 179 Order Against Former Director for Tax Dues of Company — No Evidence of Neglect or Misfeasance. Director Who Resigned Before Relevant Assessment Year Cannot Be Held Liable for Company's Tax Default Under Section 179 of Income Tax Act, 1961.

27 Apr 2010

The petitioner, Dinesh T. Tailor, was appointed as an Additional director of Yazad Investment & Finance Private Limited on 2 January 1987. He signed a...

High Court

Bombay High Court Quashes Revisional Notice Under Section 263 of Income Tax Act for Lack of Jurisdiction — Limitation Period Expired for Original Assessment Order. Reassessment Order Does Not Extend Limitation for Revising Original Assessment Under Section 263 of Income Tax Act, 1961.

23 Apr 2010

The petitioner, Ashoka Buildcon Ltd., challenged a notice dated 30 April 2009 issued by the Commissioner of Income Tax-I, Nashik under Section 263 of ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Capital Gains Indexation Case. Assessee Allowed Indexation on Sale of Shares Other Than Bonus Shares Under Section 112(1) of Income Tax Act, 1961.

7 Apr 2010

The Revenue appealed against the order of the Income Tax Appellate Tribunal which allowed the assessee's claim of indexation on long term capital gain...

High Court

Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion on Allowability of Deduction and Depreciation Rate is Invalid.

8 Mar 2010

The petitioner, Aventis Pharma Ltd., challenged a notice dated 16th March 2009 issued under Section 148 of the Income Tax Act, 1961, seeking to reopen...

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