Compounding of Offences – Definition of First Offence – Discretion of Tax Authorities.
7 Feb 2025Income Tax Act, 1961 – Section 276CC – Compounding of Offences – Discretionary Relief – Interpretation of Guidelines – Supreme Court’s Rev...
Search Results for "Income Tax Reassessment"
477 result(s) found
Found 477 result(s)
High Court
Bombay High Court Allows Petitions by Offshore Drilling Companies Challenging Reassessment Notices Under Income Tax Act, 1961 — Section 147 Reassessment Invalid Due to Lack of Jurisdictional Condition Precedent. The court held that reassessment notices were issued without proper application of mind and without valid reasons to believe that income had escaped assessment, and quashed the notices.
4 Aug 2023The petitioners, Shelf Drilling Ron Tappmeyer Limited, Shelf Drilling J.T. Angel Limited, and Shelf Drilling Trident XII Limited, are companies incorp...
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High Court
Karnataka High Court Allows Input Tax Credit Based on Annual Audited Accounts in KVAT Act Cases. The court held that Section 10(3) of the KVAT Act permits availment of input tax credit based on the annual audited statement in Form VAT 240, irrespective of the claim in returns under Section 35.
6 Dec 2019The judgment involves multiple writ petitions filed by M/s MFAR Constructions Pvt. Ltd. and M/s Mangalore Force, challenging the interpretation of Sec...
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Supreme Court
Supreme Court Allows Appeal in Tax Dispute Over Buy-Back of Shares Under Section 115QA of Income Tax Act, 1961. The Court held that buy-back pursuant to a scheme of arrangement under Section 391 of the Companies Act, 1956, is not covered by Section 115QA as it stood prior to the amendment effective from 01.06.2016.
22 Nov 2019The appellant, Genpact India Private Limited, a domestic unlisted company, bought back shares from its sole shareholder, Genpact India Investment, Mau...
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High Court
High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — No Substantial Question of Law Arises from Tribunal's Order Allowing Deduction Under Section 54F of Income Tax Act, 1961. The court upheld the Tribunal's concurrent findings that the assessee had constructed a residential house within the prescribed period under Section 54F, and the Revenue failed to raise any substantial question of law.
2 Jul 2018The Revenue (Pr. Commissioner of Income Tax-4 and Income Tax Officer) filed an appeal under Section 260A of the Income Tax Act, 1961, against the orde...
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High Court
High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — No Substantial Question of Law Arises. The court held that the Tribunal's order did not give rise to any substantial question of law under Section 260A of the Income Tax Act, 1961.
2 Jul 2018The Revenue (Pr. Commissioner of Income Tax-4 and Income Tax Officer) filed an appeal under Section 260A of the Income Tax Act, 1961 against the order...
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High Court
High Court of Karnataka Dismisses Petitions Challenging Amendment to Section 10(3) of KVAT Act, 2005 — Restriction on Input Tax Credit for Inter-State Purchases Upheld. The court held that the amendment is a valid legislative measure to prevent tax evasion and does not violate Article 14 of the Constitution.
29 Mar 2016The case involves a batch of writ petitions filed by various companies, including Sonal Apparel Private Limited and Hindustan Coca Cola Beverages Priv...
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High Court
High Court of Karnataka Quashes Reassessment Notice for Lack of Jurisdiction in Income Tax Case — Notice Issued Beyond Four-Year Limit Without Allegation of Failure to Disclose Material Facts. Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Assessment Year 2009-10 Quashed as Assessing Officer Failed to Record Satisfaction That Income Escaped Due to Assessee's Failure to Disclose Material Facts.
23 Mar 2015The petitioner, Dell India Pvt. Ltd., is engaged in the manufacture and sale of computer hardware and related products. For the Assessment Year 2009-1...
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High Court
Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Limitation Case — Commissioner's Order Under Section 263 Barred by Time. Revisional jurisdiction cannot be invoked beyond two years from the end of the financial year in which the original assessment order was passed, and subsequent reassessment orders do not extend limitation.
8 Feb 2012The appeal by the Revenue arose from an order of the Income Tax Appellate Tribunal (ITAT) dated 24 September 2008 for Assessment Year 1996-97. The Tri...
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High Court
Bombay High Court Dismisses Writ Petition and Tax Appeals in Income Tax Reassessment and Expenditure Disallowance Cases. Reassessment notices under Section 147 of the Income Tax Act, 1961 were valid, and expenditure on renovation and interest on borrowed capital for acquiring a capital asset were not allowable deductions.
30 Nov -0001The judgment involves a batch of petitions and appeals arising from income tax proceedings concerning the Travel & Tourism Association of Goa and seve...
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