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High Court of Karnataka Quashes Reassessment Order in KVAT Case Due to Violation of Natural Justice — Assessee Not Given Opportunity to Cross-Examine Third Party. Section 39(1) Reassessment Set Aside as Assessing Authority Relied on Ex-Parte Statements Without Providing Opportunity to Rebut.

The petitioner, M/s. TTP Technologies Pvt. Ltd., a registered company represented by its Director Sri. M. Devarajaiah, filed writ petitions under Arti...

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Supreme Court Interprets 'Filed' in ITO Order as Termination of Proceedings Under Section 34 of Income-tax Act, 1922. The Order That a Case is 'Filed' Disposes of the Proceeding, Rendering Fresh Notice for Reassessment Valid.

The case arose from reassessment proceedings under the Income-tax Act, 1922. The Additional Income-tax Officer issued a notice under Section 34 and, a...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Exemption Under Section 4(3)(vii) of Income-tax Act, 1922. Receipt Held to be Business Income, Not Exempt as Casual or Non-Recurring Receipt, as it Arose from Services Rendered in the Course of Business.

The assessee firm, Ram Kumar Agarwalla and Brothers, carried on business as share brokers and paper merchants. Together with D, a chartered accountant...

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High Court of Karnataka Dismisses Plaintiffs' Regular Second Appeal Challenging Dismissal of Suit for Declaration and Injunction Over Inam Land. Regrant of Land Under Karnataka Village Office Abolition Act During Pendency of Suit Does Not Prove Antecedent Ownership or Possession.

The case involves a regular second appeal filed by the plaintiffs against the concurrent judgments of the trial court and the first appellate court di...

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High Court of Karnataka Enhances Compensation in Motor Accident Claim; Directs Reliance on Income Tax Returns as Statutory Proof of Income. Tribunal Erred in Rejecting ITRs for Want of Educational Certificates; Compensation Recalculated Based on Average of Three Assessment Years' Income.

The appeal arose out of a motor accident claim in which the husband and two minor children of the deceased sought enhancement of compensation awarded ...

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High Court of Bombay Adjudicates Challenge to Reopening of Assessment under Section 148 of Income Tax Act. Assessee Contends Full Disclosure and Argues Against Grounds of Under-assessment, While Revenue Defends Notice Based on Tangible Material and Absence of Previous Query.

The case involved a writ petition filed by the Export Credit Guarantee Corporation of India Ltd. challenging a notice dated 24 March 2011 issued by th...

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Supreme Court Allows State's Appeal, Sets Aside High Court Judgment in Punjab Sales Tax Case Over Deduction on Cotton Seed Sales. Cotton Seeds Obtained After Ginning Held Not Same as Unginned Cotton for Purchase Turnover Deduction Under Section 5(2)(a)(vi) of Punjab Sales Tax Act, 1948.

The Supreme Court considered whether a dealer was entitled under the Punjab Sales Tax Act, 1948 to deduct from his purchase turnover the sale price of...