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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment based on mere change of opinion on share premium addition under Section 68 is invalid as all material was disclosed during original assessment.

The petitioner, Rajshree Realtors Private Limited, a real estate company, filed its return of income for Assessment Year 2012-2013 declaring income of...

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COMPANY APPEAL NOS. 1 to 7 of 2015

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High Court of Madras Disposes of Batch of Writ Petitions Challenging Income Tax and GST Assessment Orders, Suo Motu Impleads State Bank of India. No specific legal finding or ratio is discernible from the available text.

The High Court of Madras heard a batch of writ petitions filed by multiple corporate entities, including Aqua Terra Coke and Energy Limited (formerly ...

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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Notice under Section 148 of Income Tax Act, 1961 for reassessment of derivative transaction loss set aside as Assessing Officer had already examined the issue during original assessment.

The petitioner, Shrikant Phulchand Bhakkad (HUF), through its Karta, filed a writ petition under Article 226 of the Constitution of India challenging ...

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Bombay High Court Dismisses Revenue's Challenge to Settlement Commission Order in Income Tax Case. ITSC's order under Section 245D(4) of Income Tax Act, 1961 upheld as valid and not perverse.

The Commissioner of Income Tax, Central – II, Mumbai, filed a writ petition challenging an order dated 31st July 2013 passed by the Income Tax Settl...

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Karnataka High Court Examines Legality of Arrests by Enforcement Directorate in Money Laundering Case After Predicate Offence Closed. Petitioners Allege Violation of Section 19 of PMLA and Fundamental Rights, Challenging Custody Remand Orders.

The three writ petitions, heard together, challenged the legality of the arrest and subsequent custody remand orders of the petitioners, who were dire...