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Supreme Court Upholds Revenue in Income Tax Act Limitation Dispute Over Block Assessment. Limitation period for block assessment under Section 158BE commences from date of last Panchnama drawn, not date of last authorization, as per Explanation 2 to Section 158BE of Income Tax Act, 1961.

The dispute arose from block assessment orders passed under the Income Tax Act, 1961, following search operations. The assessees challenged the assess...

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Supreme Court Allows Deductions Under Sections 80-IA and 80-HHC of Income Tax Act Without Restriction Under Section 80-IA(9) — Holds That Each Deduction Is Computed on Eligible Profits Separately and Cumulative Deduction Is Permissible Up to Gross Total Income.

The case involved a group of appeals concerning the interpretation of Section 80-IA(9) of the Income Tax Act, 1961, specifically whether an assessee w...

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Bombay High Court Upholds Settlement Commission's Majority Decision Rejecting Settlement Application in Customs Duty Evasion Case. Majority view prevails over minority view under Section 127I of the Customs Act, 1962 when there is a difference of opinion among Members.

The petitioners, Under Water Services Company Limited and others, filed a Writ Petition under Article 226 of the Constitution of India challenging the...

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High Court of Karnataka, Kalaburagi Bench Adjudicates Regular First Appeal in Partition Suit Concerning Re-granted Walikaraki Lands Under KVOA Act. Core Issue: Junior Family Members’ Entitlement to Share in Lands Re-granted to Senior Branch After Abolition of Village Office.

The dispute pertains to a suit for partition filed by the respondents/plaintiffs against the appellants/defendants regarding agricultural lands and ho...

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Bombay High Court Upholds Foreign Travel Scheme Expenditure as Accrued Liability and Seed Processing as Manufacture for Section 80IA Deduction. Assessee's Unconditional Incentive Scheme Announcement Created a Binding Contract, Making Liability Accrued, Not Contingent.

The appeal arose from an order of the Income Tax Appellate Tribunal, Mumbai, relating to Assessment Year 1996-1997. The assessee, Maharashtra Hybrid S...