Search Results for "Section 147 Income Tax Act"

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Search Results for "Section 147 Income Tax Act"

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High Court

Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Full and True Disclosure Finding and Non-Disposal of Objections. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Alleged Under Section 147 First Proviso of Income Tax Act, 1961.

27 Feb 2025

The petitioner, Crystal Pride Developers, a partnership firm engaged in real estate development, filed its original return of income for Assessment Ye...

High Court

Bombay High Court Quashes Reassessment Notices Under Section 148 of Income-tax Act for A.Y. 2012-13 Based on Search Action — Held That Section 153C Overrides Section 147 for Search-Related Assessments

18 Feb 2025

The Bombay High Court disposed of a batch of writ petitions challenging notices issued under Section 148 of the Income-tax Act, 1961 for the assessmen...

High Court

Bombay High Court Quashes Reassessment Order for Lack of Proper Opportunity of Hearing and Non-Communication of Section 151 Approval in Income Tax Reopening Proceedings. The court held that the Assessing Officer failed to grant a personal hearing as directed by the earlier order of the High Court and did not communicate the approval under Section 151 of the Income Tax Act, 1961, rendering the reassessment invalid.

20 Dec 2024

The petitioner, Wavy Construction LLP, challenged an order dated 14 October 2021 rejecting its objections against reopening of assessment under Sectio...

Supreme Court

Supreme Court Partially Upholds Section 10(26AAA) of Income Tax Act, 1961 in Sikkim Tax Exemption Challenge. Gender-Based Proviso Denying Exemption to Sikkimese Women Marrying Non-Sikkimese Struck Down as Unconstitutional.

13 Jan 2023

The judgment concerns a writ petition under Article 32 challenging the constitutional validity of Section 10(26AAA) of the Income Tax Act, 1961, which...

Supreme Court

Supreme Court Allows Appeal in Tax Dispute Over Buy-Back of Shares Under Section 115QA of Income Tax Act, 1961. The Court held that buy-back pursuant to a scheme of arrangement under Section 391 of the Companies Act, 1956, is not covered by Section 115QA as it stood prior to the amendment effective from 01.06.2016.

22 Nov 2019

The appellant, Genpact India Private Limited, a domestic unlisted company, bought back shares from its sole shareholder, Genpact India Investment, Mau...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Reasonable Belief and Change of Opinion. Reassessment Beyond Four Years Invalid Without Allegation of Failure to Disclose Material Facts.

7 Apr 2015

The petitioner, Nivi Trading Limited, a private limited company, filed its return of income for Assessment Year 2010-11 on 15th September 2010 declari...

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

Bombay High Court Quashes Reassessment Notices Under Section 148 of Income Tax Act for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion Without New Tangible Material is Invalid.

8 May 2014

The petitioner, Debashu Services Private Limited, a private limited company registered under the Companies Act, 1956, is a regular assessee under the ...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961 — Reopening Based on Change of Opinion on Rule 8 Loss Set-Off Held Invalid. The court held that Rule 8 of Income Tax Rules, 1962 applies to both income and loss, and loss from plantation division is a business loss allowable under Rule 8.

1 Apr 2010

The petitioner, Hindustan Unilever Limited, filed its return of income for assessment year 2004-2005 on 29 October 2004, showing net profit before tax...

High Court

Bombay High Court Dismisses Writ Petition and Tax Appeals in Income Tax Reassessment and Expenditure Disallowance Cases. Reassessment notices under Section 147 of the Income Tax Act, 1961 were valid, and expenditure on renovation and interest on borrowed capital for acquiring a capital asset were not allowable deductions.

30 Nov -0001

The judgment involves a batch of petitions and appeals arising from income tax proceedings concerning the Travel & Tourism Association of Goa and seve...

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