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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Transfer of Shares as Gift During Internal Restructuring Not Constituting Income Escape Assessment When Full Disclosure Made During Scrutiny.

The petitioner, Asian Satellite Broadcast Pvt. Ltd., a private limited company engaged in trading, investment, and finance, filed its return of income...

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High Court of Karnataka Allows Second Appeal in Partition Suit — Reopening of Partition Permitted Due to Non-Inclusion of Joint Family Property. The Court held that a prior partition decree not binding on the plaintiff as she was not a party and the property was joint family property.

The appellant, Monakka Shinde, filed a suit (O.S. 370/2004) for reopening of partition, declaration, and injunction against her sons, Maruti Shinde an...

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Madras High Court Answers Reference Against Assessee in Cenvat Credit Reversal Case for Exempted Goods. Supreme Court Precedent Requires Reversal Even When No Sale Involved Under Rule 57CC of Central Excise Rules, 1944.

The Commissioner of Central Excise, Salem filed a reference case under Section 35H(1) of the Central Excise Act, 1944, seeking an answer to a question...

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High Court of Bombay Dismisses Second Appeal and Upholds First Appellate Court’s Decree for Specific Performance in Property Sale Agreement. Failure to Appoint Guardian-ad-Litem for Minor Defendant and Non-Challenge to Subsequent Sale Deeds Are Key Issues Under Section 100 CPC.

The Second Appeal arose from a suit for specific performance of an agreement to sell immovable property. The plaintiff (respondent no.1) claimed that ...