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High Court of Bombay Quashes Reassessment Notice Issued to Non-Existing Entity in Income Tax Reopening Case — Notice Under Section 148 of Income Tax Act, 1961 Invalid as Issued Against Merged Company.

The petitioner, Siemens Limited, challenged a notice dated 30 March 2015 issued under Section 148 of the Income Tax Act, 1961 for the Assessment Year ...

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High Court of Karnataka Enhances Compensation in Motor Accident Claim and Upholds Insurance Company's Liability. Claimants awarded increased compensation with 6% interest; insurer's appeal against liability dismissed.

The judgment pertains to two cross-appeals arising from the same accident claim. The claimants, Laxmibai and her children, filed MFA 12587/2007 seekin...

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Supreme Court Adjudicates Tax Treatment of Compensation for Partial Termination of Selling Agency under Income Tax Act, 1922. The Court considered whether the sum received by the assessee for termination of agency rights outside Hyderabad State constituted a capital receipt or revenue receipt.

Background: The case involved the income tax assessment of the respondent, a registered firm carrying on business as selling agents and distributors o...

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High Court Dismisses Insurer's Appeal as Not Maintainable Due to Absence of Tribunal's Permission Under Section 170(b) of Motor Vehicles Act. Appeal Against Quantum of Compensation Fails as Insurer Did Not Obtain Leave to Contest Merits Beyond Statutory Defences.

The High Court of Judicature at Bombay, Bench at Aurangabad, dealt with an appeal filed by M/s Shriram General Insurance Company Limited against an aw...

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Karnataka High Court Considers Validity of Reassessment Notices Issued Under Section 148 of the Income Tax Act, 1961. Core Contention Revolves Around Limitation Period and Applicability of Section 150 in Light of Tribunal Order Quashing Original Assessment.

The writ petitions were filed by LTIMindtree Limited, a public limited company engaged in software development and export, challenging reassessment pr...

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Bombay High Court Quashes Reassessment Notices Under Section 148 of Income Tax Act for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion Without New Tangible Material is Invalid.

The petitioner, Debashu Services Private Limited, a private limited company registered under the Companies Act, 1956, is a regular assessee under the ...