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Bombay High Court Allows Trust's Writ Petition Challenging Denial of Exemption Under Section 10(23C)(vi) of Income Tax Act, 1961. Educational Trust Running American School of Bombay Held Eligible for Exemption Despite Being a Foreign Educational Institution.

The petitioners, trustees of the American School of Bombay Education Trust, filed a writ petition challenging the order of the Director General of Inc...

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Bombay High Court Quashes Reopening Notice in HDFC Bank Bad Debts Case — No Failure to Disclose Material Facts. Section 148 notice under Income Tax Act, 1961 set aside as reassessment based on change of opinion and lack of tangible material.

The petitioner, HDFC Bank Ltd., a scheduled bank registered with RBI, filed its return of income for assessment year 2006-07 and claimed deductions un...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Exemption Case. Assessee Held Eligible for Exemption Under Section 10(20A) as Development Authority and Business Commenced in Relevant Year.

The appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribunal dated ...

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Bombay High Court Allows Appeal of Non-Resident Company in Tax Case, Holds That 'Assessee Aggrieved' Includes Any Party Adversely Affected by CIT(A) Order Under Section 253(1) of Income Tax Act, 1961. The Court set aside the Tribunal's dismissal on maintainability and remanded for merits.

The appellant, M/s. Maersk BV (formerly Nedlloyd BV), a company incorporated in the Netherlands and tax resident there, was engaged in operating ships...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Penalty Case — Tribunal's Order Upheld for Lack of Substantial Question of Law. Penalty under Section 271(1)(c) of the Income Tax Act, 1961 for alleged concealment of income was deleted by the Tribunal on finding no deliberate concealment.

The case pertains to an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribu...