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Bombay High Court Allows MCGM Appeal in Property Tax Assessment Case — Land Under Construction Held Assessable as 'Land' Under Section 154 of Mumbai Municipal Corporation Act, 1888. The Small Causes Court erred in holding that land under construction cannot be assessed until building is complete.

The Bombay High Court allowed the appeal filed by the Municipal Corporation of Greater Mumbai (MCGM) against the judgment of the Small Causes Court at...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasons to Believe Income Escaped Assessment. Reassessment Based on Change of Opinion Regarding Cost of Acquisition Under Section 55(2)(b)(ii) is Invalid.

The petitioner, J.B. Amin & Brothers (HUF), owned land at Aurangpura, Aurangabad, purchased by late Balubhai Amin for Rs.1,80,000. After his death in ...

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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.

The 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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Karnataka High Court Allows Writ Petition; Sets Aside Order of Chief Commissioner of Income Tax Rejecting Condonation of Delay Under Section 119(2)(b) of Income Tax Act. Compensation for Land Acquisition Exempt under RFCTLARR Act Not Considered by Revenue; Matter Remanded for Fresh Decision.

The petitioner, the widow of the deceased assessee, sought condonation of delay in filing the income tax return for the assessment year 2022-23. Her h...