Search Results for "excess depreciation"

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Search Results for "excess depreciation"

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Supreme Court

Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

29 May 2026

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

High Court

GST on Advances for Future Supplies: Examining Constitutional Validity. Evaluating GST's application to unutilized advances and its constitutionality.

14 Nov 2024

The L&T IHI Consortium, a collaboration between Larsen & Toubro Ltd. (L&T) and IHI Infrastructure Systems Co. Ltd., Japan, challenged the ...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure — Petitioner Had Disclosed All Material Facts in Return of Income. The court held that the reopening was based on a change of opinion and was invalid as the Assessing Officer did not form a reasonable belief of escapement of income.

7 Aug 2023

The petitioner, Astec LifeSciences Ltd., is engaged in the business of manufacturing and trading of agrochemicals and pharmaceutical intermediates. Wi...

High Court

Bombay High Court Quashes Reassessment Notice Against Charitable Trust for Lack of Fresh Material. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Under Section 147 of Income Tax Act, 1961.

8 Mar 2023

The petitioner, Framji Dinshaw Petit Parsee Sanatorium, is a public charitable trust registered under section 12A of the Income Tax Act, 1961. For the...

Supreme Court

Supreme Court Allows Appeal of Taxpayer Against Non-Processing of Income Tax Returns and Refund Claims. Mandamus Issued to Process Returns Under Section 143(1) Within Four Weeks, Subject to Section 143(1D) and Section 241A of the Income Tax Act, 1961.

1 Jan 2020

The appellant, Vodafone Idea Ltd. (formerly Vodafone Mobile Services Ltd), is a telecommunications company that filed income tax returns for Assessmen...

Supreme Court

Supreme Court Allows Financier's Appeal in Consumer Dispute Over Hire-Purchase Repossession — Held That Financier Is Not a 'Service Provider' Under Consumer Protection Act, 1986 for Repossession of Vehicle on Default. The court ruled that repossession of a vehicle under a hire-purchase agreement after default is a contractual right and not a deficiency in service.

1 Jan 2019

The appeal arose from a consumer dispute where the respondent, Rajesh Kumar Tiwari, had entered into a hire-purchase agreement with the appellant, M/s...

High Court

Bombay High Court Dismisses Revenue's Challenge to AAR Order on Capital Gains Tax Exemption for Non-Resident Share Transfer. Transfer of shares by non-resident to another non-resident outside India does not attract capital gains tax under Section 9(1)(i) of Income Tax Act, 1961 as the shares are not situated in India.

25 Nov 2016

The Commissioner of Income Tax, Goa, filed a writ petition challenging two orders dated 12.03.2010 and 15.06.2010 passed by the Additional Commissione...

High Court

Bombay High Court Quashes Reassessment Notices for HUF Assessee in Income Tax Case — Lack of Reasonable Belief of Income Escaping Assessment. Notices under Section 148 of Income Tax Act, 1961 set aside as reasons for reopening were based on mere change of opinion and not on fresh tangible material.

5 Sep 2006

The petitioner, a Hindu Undivided Family (HUF) carrying on cotton ginning and pressing business, challenged four notices dated 30 March 2004 issued un...

Supreme Court

Supreme Court Dismisses Income-Tax Officer's Appeal, Affirming That Notice Under Section 148 of Income-tax Act, 1961 Could Not Be Issued as Right to Reopen Under Section 34 of Income-tax Act, 1922 Was Barred. Section 297(2)(d)(ii) of 1961 Act Does Not Revive Time-Barred Reassessment Powers.

20 Aug 1968

The case involved an income-tax reassessment dispute arising under the Income-tax Act, 1922 and the Income-tax Act, 1961. The respondent, an assessee,...

Supreme Court

Supreme Court Dismisses Assessee's Claim to Treat Compensation as Capital Receipt Under Income Tax Act. Lump sum payment received by managing agent for reduction in remuneration held to be revenue receipt as it was in lieu of future profits and not for loss of managing agency.

4 Aug 1959

The assessee firm, M/s. Godrej & Company, was appointed managing agent of a limited company for thirty years from November 9, 1933, under an agreement...

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