Search Results for "Rule 273"

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Compounding of Offences – Definition of First Offence – Discretion of Tax Authorities.

Income Tax Act, 1961 – Section 276CC – Compounding of Offences – Discretionary Relief – Interpretation of Guidelines – Supreme Court’s Rev...

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Supreme Court Reverses High Court's Order for Accounts; Holds Export Transactions as Sales Not Agency. Distinction Between Sale and Agency Clarified Under Indian Contract Act, 1872, Based on Contractual Terms and Course of Dealing.

The dispute arose between a trader in hides and skins (respondent) and an exporter (appellant) over the nature of their contractual relationship durin...

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Supreme Court Hears Appeals by Accused Against Conviction for Murder of IOC Officer — Admissibility of Confessional Statements Under Section 25 of Evidence Act Challenged. Confessional Statements Made to Non-Investigating Police Officers Argued as Inadmissible Under Indian Evidence Act, 1872.

These appeals arose from the conviction of several accused for the murder of S. Manjunath, a Sales Officer with Indian Oil Corporation, who had inspec...

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High Court of Karnataka considers power of Income Tax Appellate Tribunal to direct fresh enquiry under Section 254 of Income Tax Act, 1961 in a buy-back taxation case. The court formulates the substantial question of law regarding suo motu directions leading to potential enhancement of tax liability.

The appeal before the High Court of Karnataka arose from an order of the Income Tax Appellate Tribunal (ITAT) concerning the tax treatment of a buy-ba...

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Bombay High Court Hears Suit for Redemption of Pledged Securities After Loan Default; Plaintiffs Abandoned Main Claim of Transfer Agreement. Pledge Agreement Clause 14(ii) Notice and Default by Pledgor Form Core of Dispute Over Shares of Sesa Sterlite.

The suit was filed by Harinarayan G. Bajaj and others against Reliance Capital Limited and Sesa Sterlite Limited. Plaintiffs borrowed a total of Rs.10...

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High Court of Karnataka Hears Writ Petition Seeking Compensation for Illegal Handcuffing and Parading in a Bailable Offence. The Court Deliberates on Police Conduct and Fundamental Rights Under Article 21 in Context of Section 138 Negotiable Instruments Act, 1881.

The petitioner, a law student, faced five criminal complaints under Section 138 of the Negotiable Instruments Act, 1881, arising from dishonoured cheq...

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Karnataka High Court Dharwad Bench Hears Revenue Appeal Against ITAT Order Deleting Penalty Under Section 271(1)(c) for Assessment Year 2006-07 Due to Defective Notice; Questions Validity of Penalty Initiation Despite Retrospective Amendment to Section 271(1B)

The appeal before the High Court of Karnataka, Dharwad Bench, arose from the order of the Income Tax Appellate Tribunal, Bengaluru, which had allowed ...