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Madras High Court Allows Appeal in Income Tax Reassessment Case — Misappropriation by Partner's Relative Not Covered Under Section 40A(2) of Income Tax Act, 1961. Reassessment based on same material held invalid as change of opinion.

The assessee, M/s.Karpaga Vinayagar Papers, a partnership firm, filed its income tax return for Assessment Year 2001-2002 admitting a total income of ...

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Bombay High Court Dismisses Writ Petition of Cooperative Society Challenging Rejection of Crop Insurance Claim Due to Non-Payment of Premium. Payment of Premium is Condition Precedent for Insurance Coverage Under National Agricultural Insurance Scheme.

The petitioner, Vivid Karyakari Seva Sahakari Society Limited, a cooperative society, filed a writ petition challenging the rejection of its crop insu...

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Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

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Karnataka High Court Dismisses Telecom Companies' Appeals, Upholding Tax Deduction at Source Under Section 194H on Discounts to Distributors. Relationship Between Telecom Companies and Distributors Held to Be Principal-Agent, Making Discounts Liable as Commission for Tax Deduction Purposes.

Multiple telecom companies, including Bharti Airtel Limited, Vodafone Essar South Limited, and Tata Teleservices Limited, filed appeals under Section ...

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High Court of Karnataka Dismisses Telecom Companies' Appeals on Section 194H TDS Liability Against Distributors. Discounts to Channel Partners Held as Commission, Mandating Tax Deduction Under Agency Relationship.

The High Court of Karnataka heard a batch of appeals by telecom companies challenging Income Tax Appellate Tribunal orders confirming their liability ...

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High Court of Karnataka at Bangalore Hears Appeals by Telecom Companies Against Income Tax Department on TDS Liability. Multiple Appeals Filed Under Section 260-A of Income Tax Act, 1961 Challenging ITAT Orders for Assessment Years 2005-06 to 2008-09.

The High Court of Karnataka at Bangalore heard a batch of Income Tax Appeals filed by telecom companies under Section 260-A of the Income Tax Act, 196...

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High Court of Karnataka Hears Petitions Challenging Tender and Work Orders in Cooperative Milk Marketing. Petitions Filed by Warehousing Agent and Co-Packer Against Karnataka Cooperative Milk Federation and Its Unions Alleging Breach of Exclusive Contracts for Telangana Operations.

Background: The case involved two writ petitions filed before the High Court of Karnataka challenging certain actions of the Karnataka Co-operative Mi...

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Supreme Court Dismisses Assessee's Appeal in MODVAT Credit Deduction Case Under Section 43B of Income Tax Act. Unutilised MODVAT Credit and Sales Tax Recoverable Account Not Allowable as Deduction Without Actual Payment of Excise Duty Liability.

The Supreme Court dismissed appeals by Maruti Suzuki India Ltd. against the Delhi High Court judgment dated 07.12.2017, which upheld the disallowance ...