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Madras High Court Allows MRF Ltd. Appeal on Fringe Benefit Tax for Medical Reimbursement. Medical Reimbursement up to Rs.15,000 per Employee per Annum Not Chargeable to Fringe Benefit Tax Under Section 115WB(2) of Income Tax Act, 1961.

The appellant, MRF Ltd., a company manufacturing automobile tyres and rubber products, filed Tax Case Appeals under Section 260A of the Income Tax Act...

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Bombay High Court Allows Claimant's Appeal for Enhanced Compensation in Motor Accident Case — Functional Disability of Barber Assessed at 100% Due to Leg Injury. Compensation Enhanced from Rs.2,38,100 to Rs.9,96,000 Under Section 166 of Motor Vehicles Act, 1988.

The appellant, Sunil @ Bapu Damodar Jagtap, a barber aged 49 years, sustained a permanent disability due to a leg injury in a motor vehicle accident. ...

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Bombay High Court Grants Stay on Tax Recovery in Gift of Shares Case Under Section 56(1) of Income Tax Act, 1961. Court allows stay of recovery pending appeal, subject to conditions protecting revenue, without deciding merits of taxability of gift of shares.

The petitioner, M/s. Nerka Chemicals Private Limited, a wholly owned subsidiary of Demuric Holdings Private Limited (DHPL), challenged an order dated ...

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Bombay High Court Quashes Reopening of Assessment in Income Tax Case — No Failure to Disclose Material Facts. Reassessment Notice Under Section 148 of Income Tax Act, 1961 Held Invalid as Original Assessment Was Based on Full Disclosure and Scrutiny.

The petitioner, Multiscreen Media Private Limited, is engaged in the business of providing audiovisual television content, films, events, and related ...

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Bombay High Court Quashes Income Tax Prosecution Due to Non-Recovery of Tax Demand. Death of Principal Accused and Dissolution of Firm Render Prosecution Under Sections 276C and 277 of Income Tax Act, 1961 Unsustainable.

The applicants filed two criminal applications under Section 482 of the Criminal Procedure Code, 1973, seeking quashing of RCC No.194/2004 and RCC No....