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Gujarat High Court Quashes Reassessment Notice in Income Tax Case Due to Non-Application of Mind by AO. Section 148 Notice for AY 2014-15 Set Aside as Reasons Recorded Were Mechanical and Lacked Independent Satisfaction.

The petitioner, Sanvira Holdings, a partnership firm part of the PSY Group engaged in real estate business, filed its return of income for Assessment ...

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Gujarat High Court Quashes Reassessment Notice for AY 2015-2016 Due to Non-Compliance with Section 148A and Invalid Sanction. Notice under Section 148 of Income Tax Act, 1961 issued after 01.04.2021 must follow new procedure under Section 148A and obtain valid sanction under Section 151.

The petitioner, Nova Dye Stuff Industries Pvt. Ltd., filed a Special Civil Application under Article 226 of the Constitution of India challenging a no...

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Bombay High Court Dismisses Tax Appeal in Income Tax Reassessment Case — Upholds Addition of Unexplained Cash Credits Under Section 68 of Income Tax Act, 1961. Failure to Prove Identity, Creditworthiness, and Genuineness of Share Application Money Leads to Confirmation of Addition.

The case involves a tax appeal by M/s. Prithvi Consultants Pvt. Ltd. against the Deputy Commissioner of Income Tax, Central Circle, Panaji, Goa. The d...

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Bombay High Court Allows Writ Petitions Challenging Transfer Pricing Adjustments in Income Tax Assessments. Petitioner succeeds as TPO's order was passed without proper opportunity of hearing and without considering relevant material.

The Bombay High Court disposed of two writ petitions concerning assessment years 2010-11 and 2009-10, where the petitioner, M/s. CWT India Private Lim...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income-tax Act, 1961 for Lack of Fresh Material — Prior Scrutiny Assessment Cannot Be Reopened on Same Issues Without New Tangible Material

The petitioner, Maharashtra State Power Generation Company Limited, a company engaged in electricity generation for the State of Maharashtra, challeng...

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High Court of Bombay Quashes Reassessment Notice Issued to Non-Existing Entity in Income Tax Reopening Case — Notice Under Section 148 of Income Tax Act, 1961 Invalid as Issued Against Merged Company.

The petitioner, Siemens Limited, challenged a notice dated 30 March 2015 issued under Section 148 of the Income Tax Act, 1961 for the Assessment Year ...

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Karnataka High Court Dismisses Appeal Against Reassessment Order Under KVAT Act for Non-Disclosure of Items in Return. Assessee Failed to Submit Reply Despite Multiple Opportunities, Leading to Confirmation of Tax Liability of Rs.14,27,48,346/-.

The appellant, M/s Cargotec India Private Limited, is an assessee under the Karnataka Value Added Tax Act, 2003 (KVAT Act). The dispute pertains to th...

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Bombay High Court Quashes Reassessment Notice for Stock Exchange in Income Tax Case — Reopening Beyond Four Years Invalid Without Failure to Disclose. Double Deduction Ground Already Decided in Assessee's Favour for Earlier Year.

The Bombay High Court allowed a writ petition filed by Bombay Stock Exchange Limited challenging a notice under Section 148 of the Income Tax Act, 196...

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Bombay High Court Dismisses Revenue Appeal in Goregaon Sports Club Case — Club Promoting Sports Held Charitable Under Section 2(15) of Income Tax Act, 1961. Principle of Mutuality Not Applicable as Facilities Open to General Public Without Restriction.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against the decision of the Income Tax Appellate Tribunal (I...