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Bombay High Court Acquits Accused in Prevention of Corruption Act Case Due to Invalid Sanction and Insufficient Evidence. Failure to Obtain Valid Sanction Under Section 6 of Prevention of Corruption Act, 1947 Renders Trial Void and Conviction Unsustainable.

The case pertains to an appeal against the conviction of the appellants under Sections 5(1)(e) read with 5(2) of the Prevention of Corruption Act, 194...

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High Court of Karnataka Allows Revenue Appeal in Depreciation Case — Full Benefit of Additional Depreciation Under Section 32(1)(iia) Denied for Assets Used Less Than 180 Days. Second Proviso to Section 32(1)(ii) Applies to Additional Depreciation, Restricting It to 50% in First Year.

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

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High Court of Karnataka Dismisses Revenue's Appeal in Block Assessment Case — Unexplained Investments Not Proven as Income. The court held that the Assessing Officer failed to establish that the cash credits and investments belonged to the assessee, and the ITAT correctly deleted the additions.

The case involves appeals by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellate Tribunal...

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High Court of Karnataka Upholds Exemption for Educational Society under Section 10(23C)(iiiad) of Income Tax Act, 1961 — Society Not Required to Be Solely an Educational Institution. Income from letting out auditorium and other properties used for educational purposes qualifies for exemption.

The case involves appeals by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) granting exemption under Section 10(23C)(iiiad)...