Bombay High Court Hears Income Tax Appeal Filed by Assessee Company Under Section 260A of Income Tax Act, 1961. The Court’s Judgment Reserved on 12 June 2025 and Pronounced on 20 June 2025.
20 Jun 2025...
Search Results for "Income Tax Act 1961 Section 260A"
304 result(s) found
Found 304 result(s)
Supreme Court
Supreme Court Partially Allows Appeal in Income Tax Penalty Case — Compliance with Section 271AAA(2) Conditions is Mandatory but Penalty Must Be Proportionate to Undisclosed Income. The Court held that penalty under Section 271AAA(1) is computed at 10% of undisclosed income, not entire returned income, and part compliance with condition (iii) warrants proportionate reduction.
4 Mar 2025The appeal arose from a penalty order under Section 271AAA of the Income Tax Act, 1961, for Assessment Year 2011-2012. The appellant, K. Krishnamurthy...
- 350
High Court
Bombay High Court Allows Appeal of Assessee in Income Tax Refund Interest Case — Refund Arising from Appellate Order Reducing Income Below Returned Income Qualifies for Interest Under Section 244A(1)(a) Irrespective of 10% Threshold. The court held that the ITAT erred in applying Section 244A(1)(b) to a refund resulting from an order giving effect to the CIT(A)'s order, and directed computation of interest from the date of payment of excess tax.
9 Feb 2024The appellant, Ceat Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal (ITA...
High Court
Bombay High Court Allows Interest on Refund Under Section 244A(1)(a) of Income Tax Act, 1961 — Refund Arising from Appellate Order Reducing Income Below Returned Income Qualifies for Interest Irrespective of 10% Threshold. The court held that Section 244A(1)(a) applies to refunds of advance tax, TDS, and self-assessment tax, and interest is payable from the date of payment, not from the date of assessment.
9 Feb 2024The appellant, Ceat Limited, filed an appeal under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribuna...
High Court
Bombay High Court Allows Interest on Refund Under Section 244A(1)(a) of Income Tax Act, 1961 — Refund Arising from Appellate Order Not Subject to 10% Threshold. The court held that the 10% threshold under Section 244A(1)(b) applies only to refunds of excess advance tax/TDS, not to refunds arising from appellate orders under Section 244A(1)(a).
9 Feb 2024The appellant, Ceat Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (IT...
High Court
Bombay High Court Allows Appeals in Income Tax Case on Disallowance of Interest on Borrowed Capital and Deduction of Wealth-Tax Paid. Interest on borrowed capital used for acquiring a capital asset is allowable under Section 36(1)(iii) of the Income Tax Act, 1961, and wealth-tax paid is deductible under Section 37(1) of the Act.
4 Dec 2023The present appeals relate to the assessment years 1986-87, 1987-88, 1988-89, 1989-90, 1990-91, 1991-92 and 1993-94. The appellant, T.V. Patel Pvt. Lt...
High Court
Bombay High Court Quashes Transfer of ITAT Appeals from Bangalore to Mumbai Bench for Lack of Jurisdiction and Violation of Natural Justice. President of ITAT Cannot Delegate Power to Transfer Cases to a Bench; Speaking Order by Bangalore Bench Exceeded Authority Under Section 255(1) of the Income Tax Act, 1961.
21 May 2021The petitioner, MSPL Limited, challenged two orders: (1) a speaking order dated 19.03.2020 passed by the Income Tax Appellate Tribunal (ITAT), Bangalo...
High Court
Bombay High Court Allows Revenue Appeal in Income Tax Case — Gain on Pre-payment of Deferred VAT/Sales Tax Held as Revenue Receipt. The court held that the benefit arising from prepayment of deferred sales tax liability at a discounted NPV is a revenue receipt taxable under Section 41(1) of the Income Tax Act, 1961, as it represents a remission or cessation of a trading liability.
5 Feb 2020The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT) dated...
Supreme Court
Supreme Court Remands Income Tax Appeal to High Court for Non-Compliance with Section 260A Procedure. The High Court failed to frame substantial questions of law as mandated under Section 260A(3) of the Income Tax Act, 1961, leading to procedural irregularity.
16 Apr 2019The Supreme Court allowed the appeal filed by the Commissioner of Income Tax against the Bombay High Court's order dismissing the Revenue's appeal und...
- 208
High Court
Bombay High Court Dismisses Revenue Appeals in Income Tax Cases Involving Long-Term Capital Gains and Business Income Classification. Court upholds ITAT findings that gains from sale of agricultural land and shares were capital gains, not business income, under the Income Tax Act, 1961.
30 Nov -0001The judgment involves a batch of income tax appeals filed by the Commissioner of Income Tax against various assessees, including Nitish Rameshchandra ...
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