Search Results for "Income Tax Act 1961 Section 260A"

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Search Results for "Income Tax Act 1961 Section 260A"

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High Court

Bombay High Court Allows Writ Petitions Challenging Reopening of Assessments Under Section 147 of Income Tax Act, 1961 — Reopening Based on Change of Opinion and Non-Disclosure of Material Facts Held Invalid. The court held that reassessment notices issued without tangible material and based on a change of opinion are invalid, and that the assessee's failure to disclose primary facts is a prerequisite for invoking the proviso to Section 147.

19 Jan 2024

The judgment pertains to two writ petitions filed by corporate assessees challenging the reopening of their income tax assessments for the assessment ...

High Court

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.

8 Nov 2023

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...

Supreme Court

Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

20 Sep 2022

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

High Court

Bombay High Court Dismisses Appeal by Forest Development Corporation in Turnkey Plantation Income Tax Case — Income from Turnkey Plantation Contract Held Not Agricultural Income Under Section 2(1A) of Income Tax Act, 1961. The court upheld the splitting of income into two stages and affirmed that the dominant purpose was service, not agriculture.

3 Aug 2017

The appellant, The Forest Development Corporation of Maharashtra Limited, a government-owned company, filed an appeal under Section 260A of the Income...

High Court

High Court of Karnataka Dismisses Revenue's Appeals in Co-operative Bank Tax Case — Interest Income from Non-Members Taxable Under 'Profits and Gains of Business or Profession'. Section 80P(4) of Income Tax Act, 1961 Excludes Co-operative Banks from Deduction Under Section 80P(2)(a)(i) for Interest Income from Non-Members.

22 Jun 2016

The case involves multiple appeals filed by the Revenue (Commissioner of Income Tax and other officers) under Section 260A of the Income Tax Act, 1961...

High Court

Bombay High Court Dismisses Revenue's Appeal in Euro Issue Expenditure Deduction Case — Expenditure Incurred for Raising Capital Abroad Held Deductible as Cost of Acquisition Under Section 48 of Income Tax Act, 1961. No Tax Deduction at Source Required Under Section 195 for Payments to Non-Residents for Services Rendered Outside India.

3 Jul 2014

The case involves an appeal by the Director of Income Tax (International Taxation) against the order of the Income Tax Appellate Tribunal (ITAT) dated...

High Court

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.

11 Apr 2014

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...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Block Assessment Case — Unexplained Investments Not Established as Income from Undisclosed Sources. The court held that the Assessing Officer must demonstrate that the investment is not recorded in the books of account and that the assessee fails to explain the nature and source thereof to treat it as undisclosed income under Chapter XIV-B of the Income Tax Act, 1961.

25 Nov 2013

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

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Case — Filing of Statement Under Section 209A Does Not Automatically Lead to Underestimation of Advance Tax for Section 216 Interest. Interest under Section 216 of Income Tax Act, 1961 requires a finding of underestimation of income or profits, not merely a difference between estimated and actual income.

22 Aug 2005

The case involves an appeal by the Commissioner of Income Tax (Revenue) against the order of the Income Tax Appellate Tribunal which upheld the deleti...

High Court

Bombay High Court Allows Revenue Appeals in Cooperative Sugar Factory Tax Deduction Cases. Deductions from sugarcane price for various purposes held to be income of the society under Income Tax Act, 1961.

28 Jun 2005

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal. The respondents, coop...

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