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Search Results for "taxable income"

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High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Prior Recording of Reasons. Reopening under Section 148 of Income Tax Act, 1961 Held Invalid as Reasons Not Recorded Before Issuance of Notice.

20 Feb 2025

The petitioner, M/s. Indusind Media & Communications Ltd., filed its return of income for assessment year 2007-08, which was revised and subsequently ...

Supreme Court

Supreme Court Restores Enhanced Compensation in Motor Accident Claim Case — Future Prospects and Multiplier Correctly Applied by Tribunal. The Court held that the Tribunal's assessment of income based on income tax returns, addition of 40% future prospects, multiplier of 14, and deduction of 1/3rd for personal expenses were correct under Section 166 of the Motor Vehicles Act, 1988.

1 Jan 2025

The appeal arises from a judgment of the High Court of Judicature at Patna dated 04.07.2022 in Miscellaneous Appeal No. 804 of 2017, which reduced the...

High Court

High Court of Karnataka Quashes Show Cause Notices in GST Cases Due to Non-Compliance with Section 75(4) of CGST Act — Mandatory Personal Hearing Requirement Not Waived. The court held that the requirement of personal hearing under Section 75(4) of the Central Goods and Services Tax Act, 2017 is mandatory and failure to provide such opportunity vitiates the proceedings.

22 Apr 2024

The judgment involves a batch of writ petitions filed by individual taxpayers challenging show cause notices and orders passed under the Central Goods...

Supreme Court

Supreme Court Dismisses Revenue's Appeal in Service Tax Dispute on Gas Connection Charges. Measuring Equipment Installed for Supplier's Billing Purposes Not Taxable Under 'Supply of Tangible Goods Service' as Customer Does Not Use the Equipment.

28 Aug 2020

The appeal arose from a judgment of the Customs, Excise & Service Tax Appellate Tribunal which set aside a demand for service tax on gas connection ch...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — State-Owned Corporation Not Liable to Deduct Tax at Source on Excise Duty Paid to Government. Excise duty paid by a state-owned corporation to the State Government does not constitute 'income' or 'commission' under the Income Tax Act, 1961, and no TDS is required under Section 194H.

3 Mar 2017

The case involves appeals filed by the Commissioner of Income Tax and Deputy Commissioner of Income Tax against an order of the learned Single Judge i...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Assessment Reopened Beyond Four Years Without Allegation of Failure to Disclose Material Facts. Reopening Based on Change of Opinion and Audit Objection Held Invalid.

27 Nov 2013

The petitioner, M/s. Lalitha Chem Industries Pvt. Ltd., is engaged in the business of manufacturing chemicals with units at Tarapur and Silvasa. For A...

High Court

Karnataka High Court Allows Appeal in Income Tax Case on Capital Gains Liability of Firm on Partner's Retirement. Full Bench resolves conflict under Section 45(4) of Income Tax Act, 1961 regarding liability when retiring partner receives only money for his share without distribution of assets.

16 Sep 2013

The case involves an appeal under Section 260-A of the Income Tax Act, 1961, arising from an order dated 02.03.2006 in ITA No.1295/BANG/2004 for the a...

High Court

Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income-tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Change of Opinion on Commission Payment to Directors Held Invalid as All Issues Were Examined During Original Assessment.

7 May 2013

The Petitioner, M/s. Dalal & Broacha Stock Broking Pvt. Ltd., a stock broking company, filed its return of income for Assessment Year 2008-09 declarin...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reimbursement of Expenses Disclosed in Return and Application Under Section 195(2) Sought, No Failure to Disclose Material Facts.

24 Jan 2012

The petitioner, Monitor India Pvt. Ltd., a subsidiary of a Dutch company, challenged a notice dated 22 March 2011 issued under Section 148 of the Inco...

Supreme Court

Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.

5 Dec 1967

The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...

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