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High Court Dismisses Criminal Petition Challenging Cognizance Order in Cheque Dishonour Case - BNSS, 2023 Procedure Not Applicable to Negotiable Instruments Act, 1881 Proceedings

The petitioners challenged the order of taking cognizance in a cheque dishonour case under Section 138 of Negotiable Instruments Act, 1881, contending...

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Supreme Court Upholds Revenue in Income Tax Reassessment Case on Limitation and Computation Grounds. Reassessment under Sections 147 and 148 of Income Tax Act, 1961 Held Valid as Assessee Failed to Disclose Material Facts, and Notice Served on Partnership Firm Was Proper Despite Section 282(2) Argument.

The dispute arose from reassessment proceedings under the Income Tax Act, 1961, involving a partnership firm engaged in publishing newspapers and peri...

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Supreme Court Upholds Vesting of Land in State for Violation of Scheduled Tribe Land Transfer Restrictions. Exchange of Land by Scheduled Tribe Member Without Prior Permission and in Disproportionate Value is Void Under U.P. Zamindari Abolition and Land Reforms Act, 1950.

The case involves an appeal by the Additional Commissioner, Revenue and others against the judgment of the Uttarakhand High Court which set aside orde...

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Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares of Foreign Company Not Taxable in India. Shares of a Bermuda company transferred outside India do not constitute transfer of a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961.

The petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda, challenged an assessment order dated 25th March 2013 passed by the Deputy Co...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasonable Belief. Reassessment Based on Borrowed Satisfaction from Investigation Wing Without Independent Application of Mind by Assessing Officer is Invalid.

The Petitioner, Nirmal Bang Securities Pvt. Ltd., challenged a notice dated 30th March 2007 issued under Section 148 of the Income Tax Act, 1961 for r...