Search Results for "Expenditure Tax"

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Supreme Court Remands Tax Appeal to ITAT Due to Erroneous Factual Finding by Tribunal. Revenue Expenditure Dispute Under Income Tax Act, 1961 Requires Re-adjudication.

The appeal arose from a dispute concerning the assessment year 1993-94, where the respondent-assessee, Ballarpur Industries Ltd., claimed a deduction ...

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Bombay High Court Upholds Revenue in Block of Assets Case — Industrial Gala Sale Taxed as Short Term Capital Gain Under Section 50. Non-Use of Asset Does Not Remove It from Block of Assets; Depreciation History Determines Tax Treatment.

The case involves an income tax reference by the Income Tax Appellate Tribunal, Mumbai Bench, at the instance of the assessee, Smt. Meena v. Pamnani, ...

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High Court of Karnataka Allows Appeal in Income Tax Case — Disallows Reopening of Assessment Beyond Four Years Without Failure to Disclose Material Facts. Section 147 of Income Tax Act, 1961 Requires Full and True Disclosure for Reopening After Four Years.

The appellant, M/s. Safina Hotels Private Limited, filed its return of income for the assessment year 2001-02. The assessment was completed under Sect...

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Bombay High Court Directs State to Reimburse Fees for Backward Class Students in Private Unaided Schools - State's Obligation Under Article 21-A and RTE Act

The petitions raised questions about the liability of the State to reimburse fees for elementary and secondary education to children belonging to back...

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Bombay High Court Dismisses Petition Challenging Search Warrant Under Section 132 of Income Tax Act, 1961 — No Violation of Natural Justice as Assessee Was Heard Before Assessment Orders Were Passed.

The petitioner, Hemendra Ranchhoddas Merchant, an erstwhile partner of a dissolved firm and now proprietor of M/s. Sriram Warehousing Corporation, fil...