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Supreme Court Remands Income Tax Appeal to High Court for Non-Compliance with Section 260A Procedure. The High Court failed to frame substantial questions of law as mandated under Section 260A(3) of the Income Tax Act, 1961, leading to procedural irregularity.

The Supreme Court allowed the appeal filed by the Commissioner of Income Tax against the Bombay High Court's order dismissing the Revenue's appeal und...

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Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case - Upholds ITAT's Estimation of Profit. Estimation of profit on bogus purchases at 12.5% upheld as reasonable; entire purchase amount cannot be added when purchases are not disputed as genuine.

The case involves two appeals filed by the Pr. Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, challenging the order of the...

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Bombay High Court Dismisses Revenue Appeal in Fringe Benefit Tax Case on Free Medical Samples. Free medical samples distributed to doctors are not fringe benefits under Section 115WB of the Income Tax Act, 1961.

The case pertains to an appeal filed by the Pr. Commissioner of Income Tax 2 under Section 260A of the Income Tax Act, 1961, against an order of the I...

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Bombay High Court Dismisses Revenue Appeal in Goregaon Sports Club Case — Club Promoting Sports Held Charitable Under Section 2(15) of Income Tax Act, 1961. Principle of Mutuality Not Applicable as Facilities Open to General Public Without Restriction.

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

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Gujarat High Court Quashes Section 153C Notices for Lack of Valid Satisfaction Note in Search Case. Satisfaction Note Must Record Assessing Officer's Independent Application of Mind to Incriminating Material Before Issuing Notice Under Section 153C of Income-tax Act, 1961.

The petitioners, including Devang Hiralal Vaghasia, filed multiple writ petitions challenging notices issued under Section 153C of the Income-tax Act,...

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Karnataka High Court Considers Challenge to Levy of VAT on Liquor by Certain Licensees; Alleged Discrimination Between Different Categories of Excise Licence Holders. Petitioners Contend That Notification Exempting Some Dealers While Taxing Others Violates Articles 14, 19, and 304B of the Constitution.

The writ petitions were filed by various licensees under the Karnataka Excise Act, 1967, challenging the constitutional validity of Entry No.59A of th...

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Supreme Court Sets Aside High Court Judgment and Remands Income Tax Appeals for Fresh Adjudication. High Court Erred in Disposing of Appeal Without Discussing Issues Arising for Consideration Under Section 260A of Income Tax Act, 1961.

The dispute originated from income tax assessment proceedings for Assessment Year 2012-13, where the Assessing Officer added Rs. 7,78,00,000 to the as...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Derivative Transaction Case. Exchange Traded Derivatives Held Not Speculative Under Section 43(5) of Income Tax Act, 1961, with Retrospective Application of Clause (d) of Proviso.

The case involves an appeal by the Commissioner of Income-tax, Central-IV against the order of the Income Tax Appellate Tribunal (ITAT) in favor of th...

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Madras High Court Dismisses Revenue's Appeal in Deemed Dividend Case — Advances from Sister Concern for Software Development Held Not Deemed Dividend Under Section 2(22)(e) of Income-Tax Act, 1961. Business Transactions in Ordinary Course Excluded from Deemed Dividend Provisions.

The Revenue filed an appeal under Section 260A of the Income-Tax Act, 1961 against the order of the Income-Tax Appellate Tribunal, Chennai 'C' Bench d...