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Bombay High Court Upholds Exemption Under Section 11 for Trust After Trust Deed Amendment Removes Dominant Control. Court Finds Predominant Object Charitable Despite Initial Rejection Based on Earlier Assessment Years.

The appeal arose from the refusal of the Income Tax Department to grant exemption under Section 11 of the Income Tax Act, 1961 to the respondent trust...

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Supreme Court Dismisses Appeal of NBFC in Income Tax Dispute on Set-off of Speculation Loss. Principal Business Determined by Actual Activities, Not Registration; Amendment to Explanation to Section 73 Held Prospective.

The appeal arose from a judgment of the Calcutta High Court in an appeal under Section 260A of the Income Tax Act, 1961, concerning the assessment yea...

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Bombay High Court Considers Challenge to Revision Order in FCCB Capital Gains Case; Cost of Acquisition Dispute Between FCCB Scheme and Section 49(2A) of Income-tax Act Examined. Revenue Relied on Section 49(2A) While Petitioner Invoked Clause 7(4) of the 1993 Scheme.

The writ petition under Article 226 was filed before the Bombay High Court challenging an order dated 29 March 2018 passed by the Commissioner of Inco...

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Bombay High Court Quashes Transfer of Income Tax Case from Pune to Mumbai for Lack of Proper Hearing and Application of Mind. Transfer under Section 127(2) of Income Tax Act, 1961 set aside as Commissioner failed to consider petitioner's objections and did not provide reasons for transfer.

The petitioner, Shikshana Prasaraka Mandali, a public charitable trust established in 1888 engaged in running educational institutions, challenged the...

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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...

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Bombay High Court Allows Revenue's Appeal in Rental Income Classification Case. Rental income from leasing unsold units of a commercial complex constructed by a real estate developer is assessable as business income, not income from house property.

The case involves multiple appeals filed by the Commissioner of Income Tax against the common order of the Income Tax Appellate Tribunal (ITAT) which ...