Search Results for "section 43B"

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Bombay High Court Quashes Reopening Notice Under Section 148 for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion on Exemption Under Section 10(38) of Income Tax Act, 1961 is Invalid.

The Petitioner, General Insurance Corporation of India, a public sector general insurance company, filed a return of income for Assessment Year 2006-0...

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Bombay High Court Dismisses Revenue's Appeal in Excise Duty Valuation Case Under Section 145A of Income Tax Act, 1961. Excise duty on unsold stock not includible in inventory valuation as liability is not 'incurred' until goods are sold.

The case involved an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the valuation of...

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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 Dismisses Review Petition in Arbitration Appointment Case — No Error Apparent on Record. Court holds that review jurisdiction under Section 114 CPC is limited to errors apparent on the face of the record and cannot be used to re-argue the merits of the case.

The petitioner, Sayla Realtors, filed a review petition before the Bombay High Court seeking review of an order dated September 25, 2025. By that orde...

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Supreme Court Mandates Written Grounds for All Arrests: A Landmark Ruling to Uphold Fundamental Rights. Ruling in Prabir Purkayastha Case Enforces Constitutional Safeguards, Invalidates Oral Justifications for Arrests

The Judgement discusses the Supreme Court's ruling in Prabir Purkayastha vs. State (NCT of Delhi), reinforcing the necessity for arresting authoritie...

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Bombay High Court Dismisses Bail Application of Accused in UAPA Case on Grounds of Parity and Merits. Parity with co-accused granted bail is not a valid ground when the applicant's role is distinct and the first bail application was rejected on merits.

The applicant, Dr. Gokarakonda Naga Saibaba, filed a second bail application under Section 439 of the Code of Criminal Procedure, 1973, seeking bail i...