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Supreme Court Modifies Compensation Award in Land Acquisition Appeal Under Land Acquisition Act, 1894. The Court Addressed Claims for Severance and Injurious Affection, Upholding Valuation Principles and Evidentiary Standards for Loss Determination.

The dispute arose from the acquisition of land by the Government of Maharashtra for the BHIMA (Ujjani) Irrigation Project, which affected a trolley li...

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Supreme Court Dismisses Assessee in Income Tax Appeal Over TDS Disallowance. Disallowance of Rs. 57,11,625 upheld under Section 40(a)(ia) of Income Tax Act, 1961 as assessee failed to deduct tax at source on payments exceeding Rs. 20,000 per goods receipt to truck operators under Section 194C.

The dispute arose from an income tax assessment for the year 2005-2006 involving Shree Choudhary Transport Company, a partnership firm engaged in tran...

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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 Quashes Reassessment Order in Income Tax Case for Non-Compliance with GKN Driveshafts Procedure. Revenue failed to communicate order rejecting objections and passed assessment order within four weeks, violating principles of natural justice.

The petitioner, Capgemini India Pvt. Ltd., challenged a notice under Section 148 of the Income Tax Act, 1961, and the subsequent reassessment order da...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Approval Under Section 10(23C)(via) of Income Tax Act, 1961 for Charitable Hospital Trust. Creation of Capital Assets from Surplus Funds Indicates Non-Philanthropic Purpose, Court Holds.

The petitioner, M/s Yash Society, a public trust registered under the Bombay Public Trust Act, 1950 and the Societies' Registration Act, 1860, runs a ...

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Bombay High Court Allows Revenue Appeal in Income Tax Case — Payment to Retiring Partners Held Capital Expenditure. Amount of Rs.1,34,678 paid to retiring partners under Memorandum of Understanding is capital expenditure not deductible as revenue expenditure.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal. The assessee, Mandovi Hotel Pvt....