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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case on Dividend Distribution Tax Rate. DDT under Section 115-O is a tax on the company, not on shareholders, and the India-UK DTAA does not provide a lower rate for DDT.

The Bombay High Court dismissed a batch of seven appeals filed by Foseco India Ltd. under Section 260A of the Income Tax Act, 1961, challenging a comm...

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Bombay High Court Allows Petition in Income Tax Reassessment Case Due to Change of Opinion. Reassessment under Section 148 of the Income Tax Act, 1961 cannot be based on a mere change of opinion on the same facts already examined.

The petitioner, Knight Riders Sports Pvt. Ltd., which operates the Kolkata Knight Riders team in the Indian Premier League, challenged a notice dated ...

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Supreme Court Dismisses Revenue's Appeal in Income Tax Act Case Upholding Revisional Jurisdiction. Commissioner Validly Set Aside Assessment Order as Payment to Shareholders Was Not 'Cost of Improvement' Under Capital Gains Computation Under Sections 48 and 263 of Income Tax Act, 1961.

The dispute arose from an income tax assessment concerning the sale of a property named 'Paville House' by the respondent assessee, a company engaged ...

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High Court of Bombay at Goa Dismisses Petition Challenging Tender Award Due to Lack of Locus Standi. Petitioner Who Did Not Participate in Tender Cannot Challenge Its Award Without Showing Public Interest or Mala Fides.

The petitioner, K.P. Ibrahim, filed a writ petition challenging the award of a tender by the Public Works Department, Government of Goa, for a constru...

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Bombay High Court Quashes Contribution Order for Non-Application of Mind in Maharashtra Public Trust Act Case — State Failed to Consider Mandatory Factors Under Section 58(4) While Fixing 2% Rate.

The petitioner, Dadimay Medical Memorial Research Trust, a public trust registered under the Maharashtra Public Trust Act, 1950, challenged an order d...

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High Court of Karnataka Dismisses Revenue's Appeal in Block Assessment Case — Unexplained Investments Not Proven as Income. The court held that the Assessing Officer failed to establish that the cash credits and investments belonged to the assessee, and the ITAT correctly deleted the additions.

The case involves appeals by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellate Tribunal...

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Bombay High Court Quashes Reopening of Assessment in Income Tax Case — No Failure to Disclose Material Facts. Reassessment Notice Under Section 148 of Income Tax Act, 1961 Held Invalid as Original Assessment Was Based on Full Disclosure and Scrutiny.

The petitioner, Multiscreen Media Private Limited, is engaged in the business of providing audiovisual television content, films, events, and related ...

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Bombay High Court Quashes Reassessment Notices for HUF Assessee in Income Tax Case — Lack of Reasonable Belief of Income Escaping Assessment. Notices under Section 148 of Income Tax Act, 1961 set aside as reasons for reopening were based on mere change of opinion and not on fresh tangible material.

The petitioner, a Hindu Undivided Family (HUF) carrying on cotton ginning and pressing business, challenged four notices dated 30 March 2004 issued un...