Search Results for "erroneous assessment"

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Search Results for "erroneous assessment"

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High Court

Bombay High Court Dismisses Petitioner's Challenge to Reopening of Assessment Under Section 147 of Income Tax Act, 1961 — Reopening Based on Tangible Material from Investigation Wing and Not a Mere Change of Opinion. Failure to Disclose Primary Facts During Original Assessment Justifies Reopening Within Four Years.

8 Sep 2023

The petitioner, Vaman Prestressing Co. Pvt. Ltd., filed two writ petitions challenging the reopening of its assessment for the Assessment Year 2006-07...

Supreme Court

Supreme Court Dismisses Assessee's Appeal in Income Tax Block Assessment Case on Levy of Interest and Surcharge. Interest under Section 158BFA(1) of Income Tax Act, 1961 upheld for belated filing of block period return despite notice issued under Section 158BD prior to amendment, as provision inherently incorporates Section 158BC procedure.

13 Jan 2023

The Supreme Court addressed a group of appeals concerning the levy of interest under Section 158BFA(1) and surcharge under Section 113 of the Income T...

Supreme Court

Supreme Court Upholds Penalty for Excess Load Consumption as Unauthorised Use of Electricity Under Section 126 of Electricity Act, 2003 — Assessment at Twice the Higher Tariff Applicable for the Category of Use, Not Consumer's Category. The court held that consumption in excess of connected load constitutes unauthorised use under Explanation (b)(iv) and assessment under Section 126(6) must be at twice the tariff for the category for which electricity was unauthorisedly used.

9 Dec 2022

The case involves a batch of appeals by the Kerala State Electricity Board (KSEB) against a judgment of the Kerala High Court which held that for unau...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Deductions Under Sections 36(1)(vii) and 36(1)(iii) of the Income Tax Act, 1961. Tribunal's order setting aside Commissioner's revision under Section 263 upheld as Assessing Officer had made proper inquiries and formed an opinion.

5 Aug 2022

The appeal was filed by the Pr. Commissioner of Income Tax-14, Mumbai (appellant-revenue) under Section 260-A of the Income Tax Act, 1961, against the...

Supreme Court

Supreme Court Dismisses Revenue's Appeal Against Quashing of Reassessment Notice Under Income Tax Act Due to Lack of Tangible Material and Improper Reliance on Income Declaration Scheme. Reassessment Initiated Based on Accommodation Entries and Declaration Under Section 183 of Finance Act, 2016 Held Invalid as AO Failed to Establish 'Reasons to Believe' Income Escaped Assessment for AY 2010-11.

28 Mar 2022

The dispute arose from a reassessment notice issued by the Commissioner of Income Tax under Sections 147/148 of the Income Tax Act, 1961, for the asse...

High Court

High Court of Bombay at Goa Allows Assessee's Appeal in Income Tax Deduction Case Under Section 10B — CIT Cannot Revise Assessment Under Section 263 Without Proper Inquiry. The court held that the Commissioner must record satisfaction that the assessment order is both erroneous and prejudicial to the interest of revenue, and mere lack of discussion does not make it erroneous if the Assessing Officer has made due inquiries.

2 Nov 2020

The case involves two tax appeals filed by Sesa Starlite Limited (formerly Sesa Goa Ltd.) against the Commissioner of Income Tax (CIT) concerning the ...

High Court

Bombay High Court Allows Refund of CVD Paid on Imported Mobile Phones Under Exemption Notification. The court held that the exemption notification No.12/2012-Customs applies to imports and directed reconsideration of refund claims subject to verification of unjust enrichment.

30 Nov 2018

The petitioner, Micromax Informatics Limited, a company registered under the Companies Act, imported mobile handsets during July 2014 to June 2015 and...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — Depreciation on Goodwill Not a Valid Reason for Reassessment. The court held that reopening based on change of opinion is impermissible and that depreciation on goodwill is allowable under Section 32(1)(ii) of the Income Tax Act, 1961.

25 Jun 2012

The petitioner, Bedmutha Industries Ltd., challenged a notice dated 29 November 2010 issued under Section 148 of the Income Tax Act, 1961, seeking to ...

High Court

Bombay High Court Quashes Revisional Notice Under Section 263 of Income Tax Act for Lack of Jurisdiction — Limitation Period Expired for Original Assessment Order. Reassessment Order Does Not Extend Limitation for Revising Original Assessment Under Section 263 of Income Tax Act, 1961.

23 Apr 2010

The petitioner, Ashoka Buildcon Ltd., challenged a notice dated 30 April 2009 issued by the Commissioner of Income Tax-I, Nashik under Section 263 of ...

High Court

Bombay High Court Upholds Constitutional Validity of Time Limit for Availing Input Tax Credit Under Section 16(4) of CGST Act. The court held that the time limit is mandatory and not directory, and retrospective amendments are valid.

30 Nov -0001

The Bombay High Court, in a batch of writ petitions, addressed the constitutional validity and interpretation of Section 16(4) of the Central Goods an...

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