Search Results for "Chargeable Expenditure"

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Search Results for "Chargeable Expenditure"

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High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Fresh Material. Reopening Under Section 148 of Income Tax Act, 1961 Based on Mere Change of Opinion on Provision for Unascertained Liabilities is Invalid.

26 Feb 2024

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016, declaring total income of Rs. 4,860,25...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case — No Failure to Disclose Material Facts. Reopening Beyond Four Years Invalid Under Section 147/148 of Income Tax Act, 1961 as Original Assessment Under Section 143(3) Was Full and True Disclosure.

26 Feb 2024

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016 declaring total income of Rs. 4,860,25,...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reopening Based on Mere Change of Opinion on Allowability of Sales Promotion and Physician Sample Expenses is Invalid.

10 Feb 2023

The petitioner, Abbott India Limited (successor of Solvay Pharma India Ltd.), challenged a notice dated 27 March 2015 issued under Section 148 of the ...

High Court

High Court of Bombay at Goa Allows Tax Appeal in Part on Demurrage Disallowance and Education Cess Deduction — Demurrage paid to non-resident buyers not taxable under section 172 of Income Tax Act, 1961 as occasional shipping; Education Cess allowable as deduction in year of payment.

28 Feb 2020

The judgment concerns two tax appeals filed by Sesa Goa Limited against the Joint Commissioner of Income Tax, Range 1, Panaji Goa, arising from assess...

High Court

High Court of Karnataka Upholds Sugar Factory's Right to Export Subsidy Under Sugar Development Fund Act, 1982. Internal transport and freight charges subsidy cannot be denied on ground of non-compliance with procedural requirements where substantive entitlement is established.

23 Mar 2018

The Union of India and the Chief Director (Sugar) filed an intra-court appeal under Section 4 of the Karnataka High Court Act against an order dated 1...

High Court

High Court of Karnataka Dismisses Revenue Appeals in Income Tax Exemption Cases for Charitable Trusts and Religious Institutions. Held that registration under Section 12AA and exemption under Section 11 of the Income Tax Act, 1961 cannot be denied solely on the ground of commercial activities if they are incidental to the charitable object.

22 Feb 2016

The High Court of Karnataka heard a batch of appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961, challenging the orders of t...

High Court

Bombay High Court Dismisses Revenue's Appeal in Euro Issue Expenditure Deduction Case — Expenditure Incurred for Raising Capital Abroad Held Deductible as Cost of Acquisition Under Section 48 of Income Tax Act, 1961. No Tax Deduction at Source Required Under Section 195 for Payments to Non-Residents for Services Rendered Outside India.

3 Jul 2014

The case involves an appeal by the Director of Income Tax (International Taxation) against the order of the Income Tax Appellate Tribunal (ITAT) dated...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reimbursement of Expenses Disclosed in Return and Application Under Section 195(2) Sought, No Failure to Disclose Material Facts.

24 Jan 2012

The petitioner, Monitor India Pvt. Ltd., a subsidiary of a Dutch company, challenged a notice dated 22 March 2011 issued under Section 148 of the Inco...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961 — Reopening Based on Change of Opinion on Rule 8 Loss Set-Off Held Invalid. The court held that Rule 8 of Income Tax Rules, 1962 applies to both income and loss, and loss from plantation division is a business loss allowable under Rule 8.

1 Apr 2010

The petitioner, Hindustan Unilever Limited, filed its return of income for assessment year 2004-2005 on 29 October 2004, showing net profit before tax...

High Court

Bombay High Court Upholds Assessee in Income Tax Reference on Section 80M Deduction. Deduction under Section 80M is to be computed on gross dividend income without deducting interest and other expenditure incurred for earning such dividend, as per Section 80AA read with Section 80M of the Income Tax Act, 1961.

30 Sep 2005

The case involved a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal to the Bombay High Court. The ass...

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