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High Court of Karnataka Dismisses Appeal in Income Tax Reassessment Case — No Substantial Question of Law Arises. Reassessment notice under Section 148 of Income Tax Act, 1961 upheld as validly issued within four years from end of assessment year.

The appellant, M/s. Kanhaiyalal Dudheria, a partnership firm, filed appeals under Section 260A of the Income Tax Act, 1961, against the orders of the ...

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Bombay High Court Dismisses Petition Challenging Retrospective Service Tax Amendment on Renting of Immovable Property. The Court upheld the explanation to Section 65(105)(zzc) of the Finance Act, 1994 as clarificatory and not violative of Article 14.

The petitioner, Chanakya Mandal, a trust registered under the Bombay Public Trust Act, filed a writ petition under Article 226 of the Constitution of ...

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High Court of Karnataka Dismisses Revenue's Appeal in Vodafone TDS Case — No Substantial Question of Law Arises. Assessee's payments for call center services and software maintenance not subject to TDS under Section 194J of Income Tax Act, 1961 as they do not constitute 'technical services'.

The case involves appeals filed by the Revenue (Commissioner of Income Tax and Deputy Commissioner of Income Tax) against the order of the Income Tax ...

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High Court Allows Appeal in Income Tax Case: Consultancy Fees Received Abroad by Non-Resident Not Taxable in India. The court held that the assessee, a non-resident rendering services outside India, was not liable to tax on consultancy fees received abroad under Section 5(2) of the Income Tax Act, 1961.

The appellant-assessee, Sri Salil Punoos, was employed by M/s Best Foods Asia Ltd., Hongkong as Managing Director from 1997. During the relevant perio...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Reopening Case — Reopening Invalid Due to Change of Opinion. Tribunal's finding that reassessment notice was based on mere change of opinion upheld under Section 147 of Income Tax Act, 1961.

The case pertains to an appeal by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) which held that the reopening of assessmen...

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Supreme Court Clarifies Law on Dividend in Liquidation Under Section 2(6A)(c) of Income-tax Act, 1922. Distribution on Liquidation Attributed to Accumulated Profits to be Determined on the Basis of Accumulated Profits Immediately Before Liquidation.

The respondent company was placed under voluntary winding up by resolution dated August 23, 1952. Its paid-up capital was Rs. 25 lakhs and accumulated...

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Supreme Court Dismisses Assessee's Claim to Treat Compensation as Capital Receipt Under Income Tax Act. Lump sum payment received by managing agent for reduction in remuneration held to be revenue receipt as it was in lieu of future profits and not for loss of managing agency.

The assessee firm, M/s. Godrej & Company, was appointed managing agent of a limited company for thirty years from November 9, 1933, under an agreement...