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Search Results for "taxable income"

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High Court

Madras High Court Allows Assessee's Appeal in Income Tax Deduction Computation Case — Follows Supreme Court Guidelines in Sital Fibres Ltd. The Court held that deduction under Section 80IA should not be deducted before computing deduction under Section 80HHC under the Income Tax Act, 1961, and remanded the matter for fresh assessment.

27 Apr 2026

The assessee, M/s. Rogini Garments, filed a Tax Case under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tri...

High Court

Bombay High Court Allows Assessee's Appeal in Permanent Establishment Case — Remand by Tribunal Set Aside. The Court held that the burden of proving the existence of a Permanent Establishment lies on the Revenue, and the Tribunal erred in remanding the matter without such proof under Section 260A of the Income Tax Act, 1961.

29 Aug 2018

The case involves three Income Tax Appeals filed by the assessee, Co-operative Centrale Reiffeisen-Boerenleenbank B. A., a Dutch cooperative bank, cha...

High Court

High Court of Bombay at Goa Allows Appeal in Income Tax Case — Commission Payment to Non-Resident Not Liable to TDS Under Section 195 of Income Tax Act, 1961. Disallowance Under Section 40(a)(ia) Cannot Be Sustained When Income Is Not Chargeable to Tax in India.

10 Oct 2016

The appellant, M/s Zephyr Biomedicals, a partnership firm, filed its return of income for Assessment Year 2006-2007 declaring total income of Rs.8,35,...

High Court

High Court of Bombay at Goa Dismisses Co-operative Society's Tax Appeals — Primary Co-operative Bank Excluded from Section 80P Deduction. Appellant's claim for deduction under Section 80P(2)(a)(i) denied as it is a Primary Co-operative Bank hit by Section 80P(4) of the Income Tax Act, 1961.

17 Apr 2015

The case involves three tax appeals filed by M/s. The Quepem Urban Co-operative Credit Society Ltd. against the common order of the Income Tax Appella...

High Court

Bombay High Court Allows Petition Challenging TPO Order on Share Issuance to Non-Resident AE - Capital Receipt Not Taxable Under Transfer Pricing Provisions. The court held that issuance of equity shares at premium to non-resident Associated Enterprises is a capital account transaction not giving rise to income, and thus outside the scope of Chapter X of the Income Tax Act, 1961, following Vodafone India Services Pvt. Ltd. vs. Union of India.

18 Nov 2014

The petitioner, M/s. Shell India Markets Pvt. Ltd., filed a writ petition under Article 226 of the Constitution of India challenging the order dated 3...

High Court

Bombay High Court Allows Appeal of Non-Resident Company in Tax Case, Holds That 'Assessee Aggrieved' Includes Any Party Adversely Affected by CIT(A) Order Under Section 253(1) of Income Tax Act, 1961. The Court set aside the Tribunal's dismissal on maintainability and remanded for merits.

27 Nov 2013

The appellant, M/s. Maersk BV (formerly Nedlloyd BV), a company incorporated in the Netherlands and tax resident there, was engaged in operating ships...

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Tax Evasion Case — Transaction of Share Transfer Held Genuine, Not a Colourable Device. The court upheld the ITAT's finding that the sale of shares of group companies at a low price and sale of shares of Mackhinon & Mackenzie Co. Ltd. at a high price were genuine transactions, and the resultant set-off of long-term capital loss against short-term capital gains was permissible under the Income Tax Act, 1961.

23 Oct 2013

The case pertains to an appeal filed by the Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, against the order of the Income...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Block Assessment Case — Tribunal's Finding of No Jurisdiction Upheld. Assessment under Section 158BD of Income Tax Act, 1961 Requires Satisfaction Recorded by Assessing Officer and Warrant of Authorization in Name of Assessee.

14 Feb 2012

The case involves an appeal by the Commissioner of Income Tax-I against an order of the Income Tax Appellate Tribunal. The respondent, Shri Gopinath M...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 Income Tax Act for Mere Change of Opinion. Assessment Completed Under Section 143(3) Cannot Be Reopened Without Fresh Tangible Material.

19 Dec 2011

The petitioner, Sanand Properties Pvt. Ltd., filed a return for Assessment Year 2008-09 declaring income of Rs.20.33 lakhs, later revised to Rs.19.14 ...

High Court

Bombay High Court Allows Writ Petition Against Rejection of Nil Withholding Certificate Under Section 195(3) of Income Tax Act — Past Tax Demands Not Valid Ground for Refusal. The court held that past tax demands for earlier assessment years cannot be a valid reason to reject an application under Section 195(3) for a subsequent year, as the provision is meant to determine the appropriate proportion of tax to be deducted at source on current payments.

13 Apr 2010

The petitioner, Mckinsey & Company Inc., a non-resident company incorporated in the USA with branches in India, filed an application under Section 195...

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