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Bombay High Court Dismisses Suit Challenging Income Tax Order for Lack of Jurisdiction Under Section 269UN of Income Tax Act, 1961. Jurisdiction of Civil Court Barred as Appropriate Authority's Order Under Chapter XXC Is Final and Conclusive.

The plaintiff, Sasmita Investments Ltd., filed a suit in the Bombay High Court challenging an order passed by the Appropriate Authority under Chapter ...

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Bombay High Court Hears Petition Against Coercive Recovery of Service Tax Without Adjudication, Examining Scope of Section 73 of Finance Act, 1994. The Court Considers Whether Revenue Can Take Steps Under Section 87 Absent Determination of Tax Liability Through Statutory Adjudication Process.

The petitioner, ICICI Bank Ltd., a scheduled bank, challenged a communication dated 25/3/2015 issued by the Service Tax authorities demanding interest...

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Bombay High Court Upholds Acquittal of Assessee in Perjury Case — Inconsistent Statements Not Sufficient for Conviction Under Section 193 IPC. Income Tax Department's Appeal Dismissed as Prosecution Failed to Prove Deliberate Falsehood in Statement Under Section 132(4) of Income Tax Act, 1961.

The case arises from a criminal appeal filed by the Income Tax Department against the acquittal of the respondent, Dev Kumar Agarwal, for alleged perj...

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Supreme Court Dismisses Assessee in Income Tax Matter as Loss from Share Sale Not Arising in Ordinary Course of Business. Assessee Purchased Shares at Above Market Price as Part of Scheme for Acquisition of Managing Agency, Making Transaction Extraordinary.

The assessee, Star Company Limited, was a public limited company engaged in the business of dealing in shares and securities. During the assessment ye...

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Supreme Court Dismisses Revenue Appeal on Deduction for Bank's Settlement of Claims for Stolen Pledged Jewellery. Payment to Constituents for Stolen Jewellery Held Allowable as Business Expenditure Under Section 10(2)(xv) of Indian Income-tax Act, 1922.

The case concerned a claim for deduction under Section 10(2)(xv) of the Indian Income-tax Act, 1922 by a bank for amounts paid to constituents whose p...

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Bombay High Court Considers Whether Notification 14/2010-ST is Clarificatory for Service Tax on Drilling Rigs in Continental Shelf. Appeal Admitted on Questions of Territorial Applicability of Service Tax to Offshore Drilling Services Under Finance Act, 1994.

The appellant, M/s. Greatship (India) Ltd., entered into contracts with ONGC in February and May 2009 to provide offshore drilling services using hire...

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Supreme Court Examines Legality of Entry Tax on Goods Imported from Abroad; State Legislations of Orissa, Bihar, Kerala and Jharkhand Under Scrutiny

Background: The case involves a batch of civil appeals before the Supreme Court concerning the levy of entry tax on goods imported from foreign countr...

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Bombay High Court Allows Writ Petition Challenging Settlement Commission's Power to Levy Interest Under Section 234B When No Interest Was Charged in Original Assessment. Interest under Section 234B(4) can only be increased or reduced if it was initially chargeable under the original assessment order.

The petitioner, Akbar Travels of India Pvt. Ltd., an IATA approved travel agent and money changer, filed returns for Assessment Years 2002-03 to 2006-...

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Bombay High Court Dismisses Revenue's Appeal in Depreciation Claim Case. Depreciation Being Optional Cannot Be Thrust Upon Assessee When There Is Total Loss Under Section 80IB of Income Tax Act, 1961.

The Revenue appealed against the Income Tax Appellate Tribunal's order allowing the assessee's appeal. The assessee, a company engaged in hotel busine...