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Supreme Court Dismisses Recall Application in Income Tax Case — Service on Power of Attorney Holder Held Valid. Service of notice on authorized representative/agent of company under Section 2(35) of Income Tax Act, 1961 is sufficient service.

The Principal Commissioner of Income Tax (Central) filed a Special Leave Petition (SLP) against NRA Iron & Steel Pvt. Ltd., which was decided ex parte...

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Bombay High Court Dismisses Revenue's Appeal in Cooperative Bank Deduction Case — Commission Income from Cotton Hundi and Electricity Bill Collection Qualifies for Section 80P(2)(a) Deduction. The court held that such activities are integral to banking business and covered by the deduction.

The case involves two appeals by the Commissioner of Income Tax-III, Nagpur, against the respondent, Amravati District Central Cooperative Bank Ltd, f...

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Karnataka High Court Quashes Proceedings Before Assistant Commissioner in Caste Certificate Dispute Due to Lack of Jurisdiction. The Court Holds that Appeal Under Section 4B is Not Maintainable as Tahsildar Merely Implemented Committee Order, Thus Proceedings are Coram Non-Judice.

The petitioner filed a writ petition under Articles 226 and 227 of the Constitution of India challenging the proceedings before the Assistant Commissi...

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Bombay High Court Dismisses Revenue's Appeal in Section 80IA(4) Deduction Case for Warehousing Corporation. Assessee's warehousing facility held to be part of port infrastructure eligible for deduction under Income Tax Act, 1961.

The case involves an appeal by the Principal Commissioner of Income Tax-6 against the order of the Income Tax Appellate Tribunal (ITAT), Pune, which a...

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Bombay High Court Quashes Reassessment Notice Issued to Dead Person Under Income Tax Act — Notice Issued After Death Without Substituting Legal Heir Is Null and Void. Notice under Section 148 of the Income Tax Act, 1961 issued in the name of a deceased assessee is invalid and cannot be cured.

The petitioner, Raniben Khimji Patel, is the legal heir of Khimji Karamshi Patel who died on 2nd March 2021. The Income Tax Department issued a notice...

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Bombay High Court Upholds Revenue's View on Capital Gains Computation in Amalgamation Case. Assessee Not Entitled to Substitute Fair Market Value as on 1-1-1964 for Shares Acquired Under Sections 47 and 49 of Income Tax Act, 1961.

The case pertains to a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, M/s. Madhura Coats Ltd., arising f...