Search Results for "Income Tax Calculation"

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Gujarat High Court Allows Petition Challenging Reopening Notice Under Section 148 for AY 2012-13 as Time-Barred. Notice Issued Beyond Six-Year Limit Under Section 149 After Search Under Section 132 on 08.09.2021.

The petitioner, Manojbhai Bhupatbhai Vadodaria, filed a writ petition challenging a notice under Section 148 of the Income Tax Act, 1961 for Assessmen...

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Gujarat High Court Quashes Reassessment Notice Under Section 153C of Income Tax Act for Non-Supply of Satisfaction Note. Failure to Provide Satisfaction Note Recorded by the Assessing Officer Violates Principles of Natural Justice and Renders the Notice Invalid.

The petitioner, Nirma Limited, received funds from Siddhi Vinayak Cement Private Limited during Financial Years 2009-10 to 2011-12 by way of share app...

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Gujarat High Court Quashes Reassessment Notice for AY 2012-13 Due to Lack of Jurisdictional Sanction Under Section 151 of Income Tax Act, 1961. Reassessment Proceedings Initiated Without Proper Approval from Competent Authority Are Void Ab Initio.

The petitioner, an individual and citizen of India, filed a writ petition challenging the reassessment notice under Section 148 of the Income Tax Act,...

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High Court Enhances Compensation for Injured Driver in Motor Accident Case — Future Prospects Added to Income Calculation. The Court held that income must be assessed based on the latest income tax return and 40% future prospects must be added for self-employed persons aged about 40 years.

The appellant, Mahebub Kasambhai Bogha, an injured claimant, filed a first appeal under Section 173 of the Motor Vehicles Act, 1988, against the judgm...

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High Court of Gujarat Dismisses Insurance Company's Appeal in Motor Accident Claim — Sole Negligence of Truck Driver Upheld. Compensation of Rs.10,88,944/- with 6% Interest Confirmed as No Contributory Negligence or Breach of Policy Conditions Proved Under Motor Vehicles Act, 1988.

The case arises from a motor accident that occurred on 20.11.2002 at around 6:30 p.m. on Patanpura Ridrol road. The deceased, Mukeshbhai Mafatlal Praj...

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Supreme Court Allows Revenue's Appeals in Income Tax Case on Disallowance of Excess Cane Price Paid by Cooperative Society. Excess Payment Over Statutory Price Under Sugarcane (Control) Order, 1966 Held Not Deductible as Business Expenditure Under Section 37(1) of Income Tax Act, 1961.

The case involves a batch of appeals by the Commissioner of Income Tax, Bombay against the assessee, Tasgaon Taluka Sahakari Sikhar Karkhana Limited, ...

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Bombay High Court Dismisses Revenue's Appeal in Hindalco Industries Tax Case on Section 80HHC Deduction and Capital vs Revenue Expenditure. Tribunal's findings on exclusion of local turnover for export deduction and treatment of financial advisory fees as revenue expenditure upheld.

The appeal was filed by the Commissioner of Income Tax-6 against the order of the Income Tax Appellate Tribunal (ITAT) dated 28.11.2008 in ITA No.3668...