Search Results for "Wealth Tax"

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High Court of Karnataka Dismisses Writ Appeal Against Single Judge Order Directing Reconsideration of Caste Certificate Cancellation. Court Holds That Natural Justice Requires Personal Hearing Before Adverse Orders Affecting Caste Status.

The case involves a writ appeal filed by the Commissioner/Appellate Authority (Caste/Income Verification) and the Chairman of the District Caste and I...

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Bombay High Court Allows Writ Petition Challenging Reassessment Notice Issued to Dead Person Under Section 148 of Income Tax Act, 1961 — Notice and Reassessment Order Void Ab Initio. Legal Heir's Participation Under Protest Does Not Cure Jurisdictional Defect.

The petitioner, Shri Devendra S/o Vasudeo Jambhulkar, is the son and legal heir of late Vasudeo Damduji Jambhulkar, who was an income tax assessee wit...

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Bombay High Court Allows Writ Petition Challenging Acquisition Order Under Section 269UD(1) of Income Tax Act, 1961 — Petitioner Entitled to Refund of Amount Deposited with Interest as Acquisition Order Set Aside Due to Non-Compliance with Statutory Requirements.

The petitioner, M/s. Zeal Real Estate Limited (formerly Insat Leasing & Holding Limited), a company registered under the Companies Act, 1956, entered ...

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Bombay High Court Allows Assessee's Claim for Capital Gains Treatment in Partnership Dissolution Case. Gains from Sale of Land Held as Co-owned Personal Asset Not Business Income Under Income Tax Act, 1961.

The case involved an income tax reference under Section 256 of the Income Tax Act, 1961, for the assessment year 1988-89. The assessee, an individual ...

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Bombay High Court Quashes Reopening of Assessment for UK Insurance Company in Income Tax Case — Lack of Fresh Material and Change of Opinion. Reopening under Section 147 of Income Tax Act, 1961 based on mere change of opinion without new tangible material is invalid.

The petitioner, The Prudential Assurance Company Ltd., a UK-incorporated insurance company registered as a sub-account of a Foreign Institutional Inve...

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High Court of Bombay at Goa Allows Revenue Appeal in Capital Gains Tax Case — Land Held Not Agricultural Despite Plantation. Sale of Land Adjacent to Five-Star Hotels at High Price Indicates Non-Agricultural Character Under Section 2(14) of Income Tax Act, 1961.

The case involves two appeals filed by the Commissioner of Income Tax (Revenue) against the assessees, husband and wife, who sold their ancestral prop...