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High Court of Bombay Dismisses Revenue's Appeal in Bogus Purchase Case — GP Rate Restricted to 15% on Alleged Bogus Purchases. The court held that when purchases are accepted as genuine but from bogus parties, only the profit element embedded in such purchases can be taxed, not the entire purchase amount.

The case pertains to an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate ...

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Supreme Court Allows UPSC Appeal in IAS Promotion Case — Selection Committee's Assessment Upheld. Variation in Grading and Delay in Seniority Refixation Do Not Vitiate Selection Process Under IAS (Appointment by Promotion) Regulations, 1955.

The case pertains to the promotion of State Civil Service officers to the Indian Administrative Service (IAS) for the Tamil Nadu Cadre for the year 20...

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SALES TAX REFERENCE NO. 52 OF 2009

The matter came before the Bombay High Court as two sales tax references arising from the assessment of M/s. Radhasons International, a partnership fi...

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Supreme Court Reviews Its Own Judgment That Struck Down Ex Post Facto Environmental Clearance Notifications Under Environment (Protection) Act. Review Petition Seeks Recall Citing Overlooked Binding Precedents.

Background: The present matter is a review petition arising from the Supreme Court's judgment in Vanashakti v. Union of India, dated 16 May 2025, whic...

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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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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Bombay High Court Allows Writ Petitions Challenging Local Body Tax Assessment Orders for Violation of Natural Justice. Assessment Orders Quashed and Remanded for Fresh Hearing Under Maharashtra Municipal Corporations Act, 1949.

The petitioner, Siemens Limited, a company incorporated under the Companies Act, 1956, filed multiple writ petitions challenging assessment orders pas...

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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...