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Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Fresh Material and Change of Opinion. Guarantee Fee Reversal Issue Already Examined in Original Assessment and Pending Before Tribunal, Reassessment Barred by Third Proviso to Section 147 of Income-tax Act, 1961.

The petitioner, Tata Communications Limited, filed its return of income for Assessment Year 2014-15 on 24 November 2014, which was revised twice in Ma...

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Bombay High Court Directs Reconsideration of Back Wages for Reinstated Employee in Service Matter — Petitioner's Conviction Under IPC Section 342 Set Aside, Entitlement to Back Wages Requires Fresh Assessment by Employer.

The petitioner, Manjushree Mahesh Dalimbkar, was employed as a teacher with the Zilla Parishad, Ahmednagar. She was an accused along with her husband ...

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High Court of Bombay Dismisses Revenue's Appeal in Bogus Purchase Case — GP Rate Restricted to 15% on Alleged Bogus Purchases. The court held that when purchases are accepted as genuine but from bogus parties, only the profit element embedded in such purchases can be taxed, not the entire purchase amount.

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

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Bombay High Court Allows Appeals in Turf Club Dispute Over Horse Race Doping Allegations — Interim Injunction Set Aside. Court holds that internal disciplinary proceedings of a club are not subject to judicial review unless they violate principles of natural justice or statutory provisions.

The case involves a dispute arising from horse racing at the Royal Western India Turf Club Ltd. (RWITC). The plaintiff, Vinayak J. Gaekwad, owned a ho...

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High Court of Karnataka Dismisses Revenue's Appeal in Block Assessment Case — Unexplained Investments Not Proven as Income. The court held that the Assessing Officer failed to establish that the cash credits and investments belonged to the assessee, and the ITAT correctly deleted the additions.

The case involves appeals by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellate Tribunal...