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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Reasonable Belief of Income Escaping Assessment. Reopening Beyond Four Years Without Fresh Material Constitutes Change of Opinion on Same Set of Facts.

The petitioner, Gateway Leasing Pvt. Ltd., a non-banking financial company registered under the Companies Act, 1956, filed a writ petition under Artic...

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High Court of Karnataka Allows Appeal in Income Tax Case — Deletion of Addition for Unexplained Cash Credit and Waiver of Interest Under Sections 234A and 234B of Income Tax Act, 1961. Assessee's Explanation of Gift from Husband Accepted as Satisfactory, No Justification for Levy of Interest.

The appellant, G. Shubha Devi, filed an appeal under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal ...

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Bombay High Court Dismisses Writ Petition Challenging Revisional Order in Sales Tax Exemption Dispute. Revisional Authority Under Section 57 of Bombay Sales Tax Act, 1959 Has Power to Set Aside Refund Orders Granted Under Section 62 When Exemption Notification Does Not Apply.

The petitioner, M/s. Shiv Shyam Sales Enterprises, a partnership firm dealing in gas hot plates as importer and retailer, filed a writ petition under ...

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Bombay High Court Quashes Reassessment Notices for Non-Resident Taxpayer Due to Lack of Jurisdictional Satisfaction. Section 148 notices under Income Tax Act, 1961 set aside as Assessing Officer failed to record reasons and obtain sanction before issuing notices beyond four years.

The petitioner, a non-resident Indian residing in Dubai, was regularly assessed to tax in India on income accruing or arising in India. He had investe...

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Bombay High Court Allows Writ Petition Challenging Intimations Under Section 143(1)(a) of Income Tax Act for Non-Grant of TDS Credit. The court held that TDS credit cannot be denied in summary intimation without verification of TDS certificates filed with the return.

The petitioners, LML Ltd. and its director Sanjeev Shriya, challenged intimations issued under Section 143(1)(a) of the Income Tax Act, 1961 for the a...

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Karnataka High Court Allows Writ Petition; Sets Aside Order of Chief Commissioner of Income Tax Rejecting Condonation of Delay Under Section 119(2)(b) of Income Tax Act. Compensation for Land Acquisition Exempt under RFCTLARR Act Not Considered by Revenue; Matter Remanded for Fresh Decision.

The petitioner, the widow of the deceased assessee, sought condonation of delay in filing the income tax return for the assessment year 2022-23. Her h...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Reasonable Belief and Change of Opinion. Reassessment Beyond Four Years Invalid Without Allegation of Failure to Disclose Material Facts.

The petitioner, Nivi Trading Limited, a private limited company, filed its return of income for Assessment Year 2010-11 on 15th September 2010 declari...

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Supreme Court Upholds Revenue in Income Tax Reassessment Case on Limitation and Computation Grounds. Reassessment under Sections 147 and 148 of Income Tax Act, 1961 Held Valid as Assessee Failed to Disclose Material Facts, and Notice Served on Partnership Firm Was Proper Despite Section 282(2) Argument.

The dispute arose from reassessment proceedings under the Income Tax Act, 1961, involving a partnership firm engaged in publishing newspapers and peri...

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Bombay High Court Directs Income Tax Department to Comply with ITAT Order and Release Seized Jewellery and Refund Within Six Weeks. Failure to Complete Block Assessment Within Limitation Under Section 158BE of Income Tax Act, 1961 Renders Retention of Seized Assets Illegal.

The petitioner, legal heir of Late Mr. Lakhpatrai Agarwal, filed a writ petition challenging the inaction of the Income Tax Department in complying wi...