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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Gift of Shares Without Consideration — Gift Does Not Constitute Income Escape Under the Act.

The petitioner, M/s. Jai Trust, a trust incorporated under the Indian Trust Act, 1882, challenged the legality and validity of a notice dated 12 March...

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Bombay High Court Quashes Revisional Notice Under Section 263 of Income Tax Act for Lack of Jurisdiction — Limitation Period Expired for Original Assessment Order. Reassessment Order Does Not Extend Limitation for Revising Original Assessment Under Section 263 of Income Tax Act, 1961.

The petitioner, Ashoka Buildcon Ltd., challenged a notice dated 30 April 2009 issued by the Commissioner of Income Tax-I, Nashik under Section 263 of ...

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Bombay High Court Allows Writ Petition Challenging Reassessment Notice Issued to Dead Person Under Section 148 of Income Tax Act, 1961 — Notice and Reassessment Order Void Ab Initio. Legal Heir's Participation Under Protest Does Not Cure Jurisdictional Defect.

The petitioner, Shri Devendra S/o Vasudeo Jambhulkar, is the son and legal heir of late Vasudeo Damduji Jambhulkar, who was an income tax assessee wit...

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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...