High Court of Judicature at Madras Hears Writ Petition Challenging Penalty Order Passed Under Section 271D of Income Tax Act, 1961. The Penalty Was Imposed for Alleged Violation of Section 269SS Regarding Cash Loans.
25 Feb 2025...
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Found 532 result(s)
High Court
Madras High Court Allows Appeal in Income Tax Bad Debt Write-Off Case — Assessee Entitled to Deduction for Debts Written Off in Books Even if Not Recognized by Debtor. The court held that under Section 36(1)(vii) read with Section 36(2) of the Income Tax Act, 1961, the only condition for deduction of bad debts is that the debt must be written off as irrecoverable in the books of the assessee, and there is no requirement of acknowledgment by the debtor.
27 Jan 2025The appellant, M/s. Citadel Fine Pharmaceuticals Ltd., filed a return of income for assessment year 2009-10 under the Income Tax Act, 1961. The Assess...
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High Court
Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure. Petitioner's claim of set off of unabsorbed depreciation was disclosed in return and notes, hence no failure to disclose material facts.
14 Jul 2023The petitioner, Mukand Limited, a company incorporated under the Indian Companies Act, 1913, filed a writ petition challenging a notice dated 26th Apr...
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High Court
Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment based on mere change of opinion on share premium addition under Section 68 is invalid as all material was disclosed during original assessment.
10 Jul 2023The petitioner, Rajshree Realtors Private Limited, a real estate company, filed its return of income for Assessment Year 2012-2013 declaring income of...
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High Court
Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Fresh Material. Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Held Invalid When Income Was Already Subject of Block Assessment and Regular Assessment.
27 Nov 2019The petitioners, Audhut Timblo and Anju Timblo, challenged a notice dated 18.10.2006 issued under Section 148 of the Income Tax Act, 1961 for the asse...
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High Court
Bombay High Court Allows Revenue Appeals in Income Tax Cases on Disallowance of Interest Expenditure on Tax-Free Securities. Held that Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 mandates disallowance of expenditure incurred in relation to income not includible in total income, and the Assessing Officer must record satisfaction before invoking Rule 8D.
16 Apr 2019The judgment involves a batch of appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging orders of the Income Tax App...
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High Court
High Court of Bombay at Goa Dismisses Petition Challenging Labour Commissioner's Order Under Section 33C(1) of Industrial Disputes Act, 1947 — Recovery Certificate for Backwages Upheld Despite Bank's Claim of Limitation and Set-Off
4 Jul 2018The petitioner, The Goa Urban Co-operative Bank Ltd., challenged an order dated 24/03/2017 passed by the Labour Commissioner under Section 33C(1) of t...
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High Court
High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Regional Rural Bank Entitled to Deduction Under Section 36(1)(viia) on Provision for Bad and Doubtful Debts. The court held that the provision for bad and doubtful debts made by the assessee-bank in accordance with RBI guidelines is allowable as a deduction under Section 36(1)(viia) of the Income Tax Act, 1961, and that the Assessing Officer cannot recompute the provision based on a different percentage.
14 Dec 2015The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging a common order dated 28.11.2013 passed ...
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High Court
Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Based on Change of Opinion. Reassessment Notice and Order Quashed as Assessing Officer Had No Fresh Tangible Material to Justify Reopening.
11 Feb 2014The petitioner, Aroni Commercials Limited, challenged a notice dated 28 March 2013 under Section 148 of the Income Tax Act, 1961 seeking to reopen its...
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High Court
Bombay High Court Allows Petition Challenging Withholding Tax on Firm Function Services Paid to Non-Resident US Company. Payments for Central Administrative Support Services Held Not Taxable as Fees for Included Services Under Indo-US Tax Treaty.
27 Apr 2010The petitioner, McKinsey & Company, Inc. (United States), a non-resident company incorporated under US laws, is part of the McKinsey Group providing i...
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