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High Court of Karnataka Hears Batch of Writ Petitions Challenging Late Filing Fee Under Section 234E of Income Tax Act. Petitioners Seek Declaration that Section 234E is Unconstitutional and Violative of Articles 14, 265, and 277.

This batch of writ petitions was filed before the High Court of Karnataka under Articles 226 and 227 of the Constitution of India challenging the cons...

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KAHC010217682014_1

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Supreme Court Upholds Validity of Section 17(2)(viii) of Income Tax Act and Rule 3(7)(i) of Income Tax Rules in Bank Employee Loan Perquisite Case. Delegation of Power to Prescribe Fringe Benefits Held Not Excessive and Use of SBI Prime Lending Rate as Benchmark Upheld as Non-Arbitrary.

The Supreme Court, in a common judgment, dismissed appeals filed by staff unions and officers' associations of various banks challenging the constitut...

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High Court of Karnataka Delivers Judgment on Batch of Writ Petitions Concerning Input Tax Credit Under KVAT Act. Interpretation of Section 10(3) of the Karnataka Value Added Tax Act, 2003 and Availment of Input Tax Credit Irrespective of Invoice Month Framed the Core Issue.

A batch of writ petitions came before the High Court of Karnataka under Article 226 of the Constitution of India, filed by various companies including...

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Bombay High Court Rules on Disallowance Under Rule 6D and Allowability of Spouse's Foreign Travel Expenses. Disallowance under Rule 6D of Income-tax Rules, 1962 must be computed on annual per employee basis, not per trip; expenditure on wife's foreign trip allowable if wholly and exclusively for business.

The case is an income tax reference under Section 256(1) of the Income-tax Act, 1961, arising from a dispute between the Commissioner of Income-tax, B...

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Bombay High Court Dismisses Revenue's Appeal in Joint Venture Taxation Case — Income Taxable Only in Hands of Actual Executor. ITAT's concurrent finding that joint venture did not execute contract and income was already assessed in hands of constituent member upheld.

The case involves an appeal by the Commissioner of Income Tax-I, Nagpur, against the order of the Income Tax Appellate Tribunal (ITAT), Nagpur, in res...

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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...