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Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Assessment Years 2005-06 to 2008-09 Due to Lack of Failure to Disclose Material Facts and Change of Opinion. Remuneration Paid to Directors Was Fully Disclosed and Examined During Original Assessment, So Reopening Invalid.

The petitioner, M/s. OHM Stock Brokers Pvt. Ltd., a share and stock broker, challenged notices under Section 148 of the Income Tax Act, 1961 for reope...

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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.

The 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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Bombay High Court Quashes Income Tax Order for Not Giving Effect to ITAT Directions — Refund of Rs. 40,06,299/- Ordered. The impugned order failed to correctly implement the ITAT's order and erroneously computed tax liability, leading to a direction for fresh computation and refund.

The petitioner, Ayyappa Seva Samgham Bombay, filed a writ petition under Article 226 of the Constitution of India before the Bombay High Court challen...

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Bombay High Court Allows Writ Petition Challenging Form-3 Under Direct Tax Vivad Se Vishwas Scheme, 2020 for Assessment Year 2002-2003. Petitioner Bank's Appeal Pending Before High Court Constitutes 'Appeal Pending' Under Section 2(1)(a) of DTVSV Act, Entitling It to Scheme Benefits.

The Petitioner, Cooperative Rabobank U.A., a bank established in the Netherlands and part of the Rabobank Group, is a regular assessee under the Incom...

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Bombay High Court Dismisses Appeals of Retired Employees Against Cooperative Bank's SARFAESI Recovery Proceedings. Employees Held Not to Be 'Borrowers' and Lack Locus Standi to Challenge Auction Sale Without Payment of Dues.

The judgment pertains to a batch of Letters Patent Appeals filed by retired employees of Shamrao Vithal Cooperative Bank Ltd. against the dismissal of...

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Bombay High Court Allows Waiver of Interest Under Section 234C of Income Tax Act Due to COVID-19 Pandemic Impact on Advance Tax Estimation. The court held that the Chief Commissioner must reconsider the waiver application, considering the pandemic as a valid ground for failure to estimate advance tax.

The petitioner, Grasim Industries Limited, filed a writ petition under Article 226 of the Constitution of India challenging an order dated 30th March ...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case on Deduction Under Section 80IB for Interest Income from Bill Discounting. Interest received on bill discounting held to be derived from industrial undertaking and eligible for deduction under Section 80IB of the Income Tax Act, 1961.

The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Tribunal dated 15 June 2009 for assessment...