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High Court of Karnataka Quashes Recovery Order Against State Agency for Exceeding 20% Limit Under Section 220(6) of Income Tax Act, 1961. Recovery of Rs.16,95,48,869/- for multiple assessment years held illegal as it exceeded the statutory limit of 20% pending appeal.

The petitioner, Bidar Nirmiti Kendra, an agency of the State Government, filed writ petitions under Articles 226 and 227 of the Constitution of India ...

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Supreme Court Allows State's Appeal in Sales Tax Reimbursement Dispute — Clarifies That Sales Tax on Works Contracts Is Levied on Goods Component, Not on Completed Items of Work. Clause 45.2 of GCC Does Not Apply When Tax Is on Transfer of Property in Goods Involved in Works Contract.

The Supreme Court allowed the appeal filed by the State of Orissa against the judgment of the Orissa High Court. The dispute arose from works contract...

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Supreme Court Allows Revenue's Appeal in Transfer Pricing Case — CBDT Instruction Not Mandatory. Assessing Officer's Power to Determine Arm's Length Price Under Section 92C(3) Upheld Despite Non-Reference to TPO.

The case involves an appeal by the Principal Commissioner of Income Tax-4, Mumbai against the judgment of the Bombay High Court which dismissed the Re...

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Bombay High Court Directs Income Tax Department to Comply with ITAT Order and Release Seized Jewellery and Refund Within Six Weeks. Failure to Complete Block Assessment Within Limitation Under Section 158BE of Income Tax Act, 1961 Renders Retention of Seized Assets Illegal.

The petitioner, legal heir of Late Mr. Lakhpatrai Agarwal, filed a writ petition challenging the inaction of the Income Tax Department in complying wi...

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Bombay High Court Dismisses Section 34 Challenge to Arbitral Award in Partnership Dispute — Upholds Award of Rs. 7.39 Crore with Interest. Limitation plea rejected as claim was within time; quantification not perverse.

The judgment concerns a Commercial Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...