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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Independent Application of Mind. Reassessment Based on Borrowed Satisfaction and Non-Speaking Order on Objections Violates Principles of Natural Justice.

The petitioner, Arvind Sahdeo Gupta, challenged a notice dated 24/3/2020 issued under Section 148 of the Income Tax Act, 1961 by the Income Tax Office...

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Karnataka High Court Hears Writ Petitions Challenging ED Summons Under PMLA; Petitioners Argue Income Tax Offences Not Scheduled Offences

The batch of writ petitions was filed under Articles 226 and 227 of the Constitution of India before the High Court of Karnataka. The petitioners, inc...

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Supreme Court Allows Revenue's Appeal in Transfer Pricing Case — CBDT Instruction Not Mandatory. Assessing Officer's Power to Determine Arm's Length Price Under Section 92C(3) Upheld Despite Non-Reference to TPO.

The case involves an appeal by the Principal Commissioner of Income Tax-4, Mumbai against the judgment of the Bombay High Court which dismissed the Re...

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High Court of Bombay Hears Writ Petition Seeking Quashing of Order and Reference under Section 92BA(i) of Income Tax Act, 1961. Petitioner challenges classification of three transactions as Specified Domestic Transactions based on related party and expenditure definitions.

The petitioner, HDFC Bank Ltd., a banking company, filed a writ petition under Article 226 challenging an order and reference passed by the Assistant ...

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Bombay High Court Dismisses Challenge to Cancellation of Non-Creamy Layer Certificate for OBC Student. Gross Professional Income of Parent Exceeds Limit Under Government Circular, Cancellation Upheld.

The petitioner, a student belonging to the Kunbi caste (OBC), secured admission to the MBBS course at BJ Medical College, Pune, under the OBC reserved...

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High Court of Bombay Considers Appeals Against Company Law Board Order Directing Buyout of Majority Stake in Wind Energy Company. The majority shareholder challenged the finding of oppression and the forced sale of shares to minority shareholders under sections 397, 402 and 403 of the Companies Act, 1956.

The proceedings arose from disputes between the shareholders of Enercon (India) Limited, now known as Wind World (India) Limited, a company engaged in...

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Bombay High Court Allows Condonation of Delay in Filing Income Tax Return for Refund Claim. CBDT's Rejection of Condonation Application Set Aside as Reasons for Delay Were Genuine and Not Habitual.

The petitioner, Artist Tree Pvt. Ltd., engaged in dealing in artifacts and finances, filed a return of income for Assessment Year 1997-1998 on 14 Sept...