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Bombay High Court Allows Charitable Trust in Direct Tax Vivad Se Vishwas Act Case Due to Curable Defect in Filing Audit Report. Non-Filing of Audit Report Along with Return is a Curable Defect and Rejection of Declaration Under Section 143(1) of Income Tax Act, 1961 is Not Sustainable.

The petitioner, Chandrakant Narayan Patkar Charitable Trust, is a registered charitable trust. It filed a belated return of income for financial year ...

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Supreme Court Allows Revenue's Appeal in Income Tax Case — Upholds Addition Under Section 68 for Unexplained Share Capital. Assessee Failed to Prove Identity, Creditworthiness, and Genuineness of Investor Companies Despite Receiving Share Premium at Rs. 190 per Share.

The present appeal arises from a judgment of the Delhi High Court in an income tax appeal concerning the assessment year 2009-10. The respondent-asses...

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Bombay High Court Dismisses Writ Petition Challenging Settlement Commission Order Under Section 245D(4) of Income Tax Act — No Jurisdictional Error Found in Rejecting Settlement Application for Non-Disclosure of Full Income.

The petitioner, Major Metals Ltd., filed a writ petition under Article 226 of the Constitution challenging an order dated 30 December 2010 passed by t...

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ARBITRATION PETITION (L) NO. 1793 OF 2013

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Karnataka High Court Dharwad Bench Hears Revenue Appeal Against ITAT Order Deleting Penalty Under Section 271(1)(c) for Assessment Year 2006-07 Due to Defective Notice; Questions Validity of Penalty Initiation Despite Retrospective Amendment to Section 271(1B)

The appeal before the High Court of Karnataka, Dharwad Bench, arose from the order of the Income Tax Appellate Tribunal, Bengaluru, which had allowed ...

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Bombay High Court Dismisses Petitions Challenging Income Tax Search and Seizure Action Under Section 132 of the Income Tax Act, 1961. Court Holds That Formation of Reason to Believe by the Authorizing Officer Is Based on Material on Record and Not Open to Challenge Unless Malafide or No Material Exists.

The petitioners, a private limited company and its directors and their relatives, challenged the search and seizure action conducted on 9th and 10th J...

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Bombay High Court Dismisses Writ Petition of Bank Peon Challenging Dismissal for Misappropriation. Misappropriation of Funds by a Bank Employee Constitutes Breach of Trust Warranting Dismissal, Even with Admission and Restitution.

The petitioner, Balasaheb Raghunath Bankar, was employed as a Peon with the respondent, The Rayat Sevak Cooperative Bank Ltd., from 2001. He was charg...

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Bombay High Court Quashes Provisional Attachment Order in GST Case for Non-Compliance with Section 83(1) MGST Act — Attachment Without Pending Proceeding or Prior Notice Invalid

The petitioner, Praful Nanji Satra, a businessman who rented out commercial premises and paid GST on license fees, challenged a provisional attachment...