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High Court of Karnataka Allows KSRTC Appeal in Property Tax Reassessment Case — Reassessment Notice After 14 Years Held Time-Barred. Commissioner's Power to Reopen Assessment Under Section 112-A(4) of Karnataka Municipal Corporations Act, 1976 Must Be Exercised Within a Reasonable Period of 3 Years.

The Karnataka State Road Transport Corporation (KSRTC) appealed against a Single Judge order that upheld the Commissioner's power to reopen property t...

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Bombay High Court Upholds Reopening of Assessment Under Section 147(a) for Income Tax on Minimum Guarantee Receipts from Film Sale. Assessee's Failure to Disclose Full Consideration for Sale of Movie 'Charas' Justifies Reassessment Despite Partial Acceptance of Addition.

The case involves an income tax reference at the instance of the assessee, who sold a movie titled 'Charas' to M/s. Prakash Pictures on a minimum guar...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Proper Sanction. Reassessment proceedings initiated without valid approval under Section 151 of the Income Tax Act, 1961 are invalid.

The petitioner, Vilas Babankrao Kalokhe, challenged a reassessment notice dated 30-03-2022 issued under Section 148 of the Income Tax Act, 1961 for th...

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High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...

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High Court of Karnataka Allows Revision Petitions in VAT Reassessment Cases — Reassessment Orders Set Aside for Non-Compliance with Section 39(1) of KVAT Act, 2003. Mandatory Pre-Decision Hearing Requirement Not Waived Despite Assessee's Participation in Subsequent Proceedings.

The judgment concerns five revision petitions filed under Section 65(1) of the Karnataka Value Added Tax Act, 2003 (KVAT Act) against orders of the Ka...

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Bombay High Court Allows Appeal in Income Tax Case — Reassessment Notice Invalid Beyond Four Years Without Allegation of Non-Disclosure. Arbitration Award Receipt Held as Capital Receipt, Not Income Under Section 147 of the Income Tax Act, 1961.

The appellant, Ramona Pinto, an individual, filed an appeal under Section 260A of the Income Tax Act, 1961, against an order dated 2nd April 2018 pass...

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Bombay High Court Considers Challenge to Revision Order in FCCB Capital Gains Case; Cost of Acquisition Dispute Between FCCB Scheme and Section 49(2A) of Income-tax Act Examined. Revenue Relied on Section 49(2A) While Petitioner Invoked Clause 7(4) of the 1993 Scheme.

The writ petition under Article 226 was filed before the Bombay High Court challenging an order dated 29 March 2018 passed by the Commissioner of Inco...

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High Court of Karnataka Quashes Clarification and Declares CGST Rule 31A(3) Ultra Vires in Favor of Turf Clubs. GST Liability on Betting Amount Limited to Commission Retained, Not Entire Totalisator Collection, Under CGST Act, 2017.

The two writ petitions were filed by Bangalore Turf Club Limited and Mysore Race Club Limited, companies conducting horse racing and facilitating bett...