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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
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Search Results for "ITAT Bangalore"

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Supreme Court

Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

3 Jan 2023

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

High Court

High Court of Karnataka considers power of Income Tax Appellate Tribunal to direct fresh enquiry under Section 254 of Income Tax Act, 1961 in a buy-back taxation case. The court formulates the substantial question of law regarding suo motu directions leading to potential enhancement of tax liability.

23 Jul 2018

The appeal before the High Court of Karnataka arose from an order of the Income Tax Appellate Tribunal (ITAT) concerning the tax treatment of a buy-ba...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Upholds ITAT Order on Disallowance of Interest and Depreciation. Held that interest on borrowed capital used for acquiring a capital asset is allowable as deduction under Section 36(1)(iii) of the Income Tax Act, 1961, and depreciation on assets acquired under a hire purchase agreement is allowable under Section 32.

12 Jun 2018

The case involves appeals filed by the Revenue (Pr. Commissioner of Income-Tax and Deputy Commissioner of Income-Tax) against the orders of the Income...

High Court

Bombay High Court Upholds Valuation of Partners' Interest in Firms Based on Market Quotation of Shares as on Assessee's Valuation Date in Wealth Tax Reference. The court held that the valuation date for the assessee's interest in a firm is the assessee's own valuation date, not the firm's accounting year-end, under the Wealth-tax Act, 1957.

29 Jan 2016

This is a reference under the Wealth-tax Act, 1957, arising from eight reference applications by different assessees (members of the Bajaj family) aft...

High Court

High Court of Karnataka Dismisses Revenue's Appeals in TDS Dispute with Electricity Company — Delayed Payment Charges Not 'Interest' Under Section 2(28A) of Income Tax Act, 1961. The court held that delayed payment charges collected by an electricity company from consumers for belated payment of bills do not constitute 'interest' as defined under the Income Tax Act, and therefore no TDS is deductible under Section 194A.

15 Dec 2015

The Revenue filed appeals under Section 260-A of the Income Tax Act, 1961, against a common order of the Income Tax Appellate Tribunal (ITAT) dated 31...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reassessment Case — No Substantial Question of Law Arises. Reassessment Notice Based on Alleged Discrepancy in Accounts Found During Search Was Not Justified as Accounts Were Already Subject to Scrutiny Under Section 143(3).

15 Dec 2015

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961, against a common order of the Income Tax Appellate Tribunal (ITAT) dated 4.7...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — No Substantial Question of Law Arises. The court held that the ITAT's concurrent findings on the genuineness of share capital transactions and the applicability of Section 68 of the Income Tax Act, 1961, did not give rise to any substantial question of law.

20 Apr 2015

The case involves two appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the common order of the Income Tax Appella...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Capital Gains from Sale of Agricultural Land Held Not Taxable. Land Used for Agriculture and Not Within Urban Limits Under Section 2(14)(iii) of Income Tax Act, 1961.

19 Mar 2015

The case involves appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Trib...

High Court

High Court of Karnataka Quashes Criminal Proceedings Against Company and Chairman in TDS Default Case — Failure to Remit TDS Not an Offence Under Section 276-B of Income Tax Act if Tax is Subsequently Paid with Interest. The court held that the prosecution under Section 276-B read with Section 278-B of the Income Tax Act, 1961 is not maintainable when the deducted tax has been paid along with interest before the initiation of proceedings.

18 Jan 2014

The petitioners, M/s Kingfisher Airlines Ltd. and its Chairman and Managing Director, Sri Vijay Mallya, filed three criminal petitions under Section 4...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Disallowance of Expenditure Under Section 40(a)(i) Not Applicable to Payments Made to Non-Resident for Services Rendered Outside India. The court held that Section 40(a)(i) of the Income Tax Act, 1961 does not apply to payments made to a non-resident for services rendered outside India, as the income does not accrue or arise in India.

9 Oct 2013

The case involves appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961 against orders of the Income Tax Appellate Tribunal (IT...

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