Search Results for "Income Tax Act 1922"

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Supreme Court Upholds Assessment of Hindu Deities as Individuals under Income-tax Act. Hindu Idol is Juristic Entity and "Individual" in Section 3 Includes Artificial Juridical Persons.

The case arose from income-tax assessment proceedings concerning the income from properties of two Hindu deities. The Income-tax Officer had initially...

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Supreme Court Upholds Assessee in Income Tax Dispute Regarding Tribunal's Jurisdiction to Remand on New Grounds. Tribunal Has Power Under Section 33(4) of Income-tax Act, 1922 to Entertain New Arguments and Order Remand Despite Procedural Rules.

The Supreme Court addressed five consolidated civil appeals arising from a reference made by the Income-tax Appellate Tribunal, Bombay Bench 'A'. The ...

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Bombay High Court Dismisses Revenue's Appeal on Allocation of Expenses in Section 80IB Deduction Case. Tribunal's Remand Upheld as Earlier Decision Not Challenged; Questions on Separate Unit Status and Depreciation Adjustment Admitted.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal dated ...

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Bombay High Court Upholds Revenue in Block of Assets Case — Industrial Gala Sale Taxed as Short Term Capital Gain Under Section 50. Non-Use of Asset Does Not Remove It from Block of Assets; Depreciation History Determines Tax Treatment.

The case involves an income tax reference by the Income Tax Appellate Tribunal, Mumbai Bench, at the instance of the assessee, Smt. Meena v. Pamnani, ...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 147 of Income Tax Act, 1961 Invalid When Based on Same Material Already Considered in Original Assessment.

The petitioner, Siemens Financial Services Pvt Ltd, a Non-Banking Finance Company registered with RBI, filed its return of income for Assessment Year ...

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High Court of Karnataka Hears Challenge to FIR Against Income Tax Officials: Sections 138 and 293 Income Tax Act Protection Argued. Court Examines Whether Notice Under Section 91 Cr.P.C. Can Override Statutory Safeguards in Search and Seizure Cases.

The writ petition was filed by income tax authorities under Articles 226 and 227 of the Constitution read with Section 482 Cr.P.C. seeking quashing of...

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Supreme Court Dismisses Assessee Bank's Appeal in Income-Tax Case on Taxability of Dividend Income Received After Merger of State. Dividend Encashed in Taxable Territories After Merger, Not Deemed Paid on Declaration Date Under Section 16(2) of Income-tax Act, 1922, Thus Taxable in Year of Receipt.

The Supreme Court dismissed the appeal of Benaras State Bank Ltd. against the Commissioner of Income-tax, Lucknow, in a dispute concerning the taxabil...