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Search Results for "income-tax"

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Supreme Court

Supreme Court Allows Appeals in SAFEMA Forfeiture Case — Notice to Convict Not Mandatory When Property Held by Relatives. The Court held that proceedings against relatives under Section 6 of SAFEMA are independent and do not require prior notice to the convict.

14 Dec 2021

The Supreme Court of India heard appeals against a Madras High Court judgment that had set aside forfeiture orders under the Smugglers and Foreign Exc...

High Court

Bombay High Court Allows Revenue Appeals in Income Tax Cases on Disallowance of Interest Expenditure on Tax-Free Securities. Held that Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 mandates disallowance of expenditure incurred in relation to income not includible in total income, and the Assessing Officer must record satisfaction before invoking Rule 8D.

16 Apr 2019

The judgment involves a batch of appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging orders of the Income Tax App...

High Court

Bombay High Court Quashes CBDT Action Plan Points System for Tax Recovery as Arbitrary and Unconstitutional. The court struck down the system of awarding points to Income Tax Officers for achieving tax recovery targets, holding it ultra vires the Income Tax Act, 1961 and violative of Article 14 of the Constitution.

11 Apr 2019

The Bombay High Court, in a judgment dated 11th April 2019, dealt with two petitions challenging a portion of the Central Action Plan for the financia...

High Court

High Court of Bombay at Nagpur Dismisses Petition Challenging Cooperative Court Orders in Housing Society Dispute — Petitioner Failed to Comply with Loan Requirements, Forfeiture of Share Money Upheld. The court held that the society's requirement to submit income tax documents or deposit Rs. 6000/- was reasonable and the petitioner's failure to comply justified the forfeiture under the Maharashtra Cooperative Societies Act, 1960.

9 Jul 2018

The petitioner, Hirabai Verma, was a member of the MahaLaxmi Cooperative Housing Society (respondent no. 1). The society was formed to operate housing...

High Court

High Court Allows Appeal by Bank in Mortgage Dispute, Remands Suit for Trial on Merits. The court held that the civil suit was not maintainable as the plaintiff had no locus standi to challenge the mortgage.

14 Mar 2018

The case involves an appeal filed by the Bank of India (original defendant No.2) against an order of the District Judge. The respondent No.1 (original...

High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case — Interest Under Section 220(2) Held Leviable Till Final Order of Settlement Commission Under Section 245D(4). The Court set aside the Tribunal's order restricting interest till the date of admission of application under Section 245D(1).

24 Feb 2015

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which held that interest u...

High Court

Bombay High Court Dismisses Writ Petition Challenging DRT Orders on Limitation Act Applicability to RDDBFI Act Appeals. Court Holds Section 5 of Limitation Act Applies to Appeals Under Section 30 of RDDBFI Act, Rejecting Petitioners' Argument That Special Statute Excludes Limitation Act.

13 Oct 2011

The petitioners, owners of apartments in Jupiter Complex, Nagpur, challenged orders of the Debts Recovery Tribunal (DRT) and Debts Recovery Appellate ...

High Court

Bombay High Court Allows Writ Petition Challenging Settlement Commission's Power to Levy Interest Under Section 234B When No Interest Was Charged in Original Assessment. Interest under Section 234B(4) can only be increased or reduced if it was initially chargeable under the original assessment order.

2 Jul 2010

The petitioner, Akbar Travels of India Pvt. Ltd., an IATA approved travel agent and money changer, filed returns for Assessment Years 2002-03 to 2006-...

High Court

Bombay High Court Quashes Reopening of Assessment for UK Insurance Company in Income Tax Case — Lack of Fresh Material and Change of Opinion. Reopening under Section 147 of Income Tax Act, 1961 based on mere change of opinion without new tangible material is invalid.

29 Apr 2010

The petitioner, The Prudential Assurance Company Ltd., a UK-incorporated insurance company registered as a sub-account of a Foreign Institutional Inve...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961 — Reopening Based on Change of Opinion on Rule 8 Loss Set-Off Held Invalid. The court held that Rule 8 of Income Tax Rules, 1962 applies to both income and loss, and loss from plantation division is a business loss allowable under Rule 8.

1 Apr 2010

The petitioner, Hindustan Unilever Limited, filed its return of income for assessment year 2004-2005 on 29 October 2004, showing net profit before tax...

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