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Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 Due to Cancellation of Fraudulent Sale Deeds. Sale deeds executed by fraudulent persons were cancelled and consideration reversed, rendering the basis for reassessment non-existent.

The petitioner, Gopal Bhachabhai Jatiya, filed a Special Civil Application under Article 226 of the Constitution of India before the Gujarat High Cour...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Speed Money Disallowance Upheld. CIT(A) and ITAT correctly deleted addition of 30% of speed money as no evidence of bogus expenditure.

The respondent-assessee, a clearing and forwarding agent at New Mangalore Port Trust (NMPT), declared total income of Rs.1,11,03,920/- for the assessm...

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Bombay High Court Upholds ITAT Decision Deleting Non-Refundable Deposits as Trading Receipts in Cooperative Sugar Factory Case. Supreme Court Precedent in CIT v. Shri Chhatrapati Sahakari Sakhar Karkhana Ltd. Clarifies That Such Deposits Are Not Taxable Under Maharashtra Rules.

The matter arose from a reference under the Income Tax Act, 1961, at the instance of the Revenue, challenging the order of the Income Tax Appellate Tr...

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Supreme Court Allows Appeals and Remands Tax Settlement Case to Settlement Commission for Fresh Determination on Waiver of Interest. High Court's Modification of Settlement Commission Order Set Aside for Lack of Jurisdiction.

The appeals arose from a dispute between Kakadia Builders Pvt. Ltd. and its promoter director (appellants/assessees) and the Income Tax Officer and Re...

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Bombay High Court Admits Central Excise Appeal on Conditional Exemption and Cenvat Credit. The Appeal Raises Substantial Questions of Law Regarding Notification No.6/2006-C.E. and Credit on Aggregates Used in Export.

The Bombay High Court heard a central excise appeal filed by Mahindra & Mahindra Ltd. against the Commissioner of Central Excise, Mumbai-V. The appell...