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Bombay High Court Partially Allows MSRTC Appeal and Claimants' Cross-Objection in Motor Accident Claim — Future Prospects Not Applicable to Deemed Income of Student. Notional Income of Deceased Student Determined at Rs. 10,000 Per Month with 40% Deduction for Personal Expenses.

The case arises from a motor accident claim petition filed by the parents and sister of a 20-year-old male student who died in a road accident. The de...

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Bombay High Court Dismisses Revenue's Writ Petition Challenging Settlement Commission's Order Allowing Settlement Application. Settlement Commission's Finding of Full and True Disclosure of Income by Assessee in Case of Alleged Bogus Purchases Upheld Under Section 245D of Income Tax Act, 1961.

The Commissioner of Income Tax, Mumbai, filed a writ petition under Article 226 of the Constitution of India challenging two orders passed by the Inco...

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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.

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

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Bombay High Court Upholds Tribunal's Decision on Interest Levy in Income Tax Reference - Interest Under Section 217 Not Leviable for Failure to Revise Advance Tax Statement When No Initial Statement Was Required Due to Income Below Threshold Under Section 208(2).

This is a reference under Section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue, arising from the order of the Income Tax Appella...