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High Court of Karnataka Allows Writ Petitions Declaring Income Tax Exemption Under Section 96 of RFCTLARR Act, 2013 Applicable to Land Acquisitions Under KIAD Act, 1966. Compensation for Land Acquisition Under State Act Entitled to Same Tax Exemption as Under Central Act.

The petitioners, M/s Sri Balaji Corporate Services and NCC Urban Infrastructure Limited, along with individual landowners, challenged the denial of in...

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Supreme Court Allows Appeals by States of Karnataka and Kerala in Lottery Tax Dispute — State Legislatures Have Competence to Tax Lotteries Under Entry 62 List II. Regulatory Entry 40 List I Does Not Bar State Taxation of Lotteries Organised by Other States.

The Supreme Court considered appeals by the States of Karnataka and Kerala against judgments of their respective High Courts which had struck down sta...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case, Allows Additional Deduction Claim Without Revised Return. Assessee's claim for deduction under Section 43B of Income Tax Act, 1961, though not made in original return, is admissible before appellate authorities.

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) which upheld the assessee's...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Case for Lack of Proper Inquiry. Commissioner's order under Section 263 set aside as no inquiry was conducted before passing the revision order.

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal which had set asid...