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High Court

High Court Quashes Reassessment Notice and Order for Deceased Assessee in Income Tax Case -- Investment in Debentures Not Escaped Income -- Notice Under Section 148 and Order Under Section 148A(3) of Income Tax Act, 1961 Set Aside

22 Jan 2026

The judgment involves a writ petition filed by Petitioner, the legal heir of a deceased assessee, challenging a reassessment notice and order issued b...

High Court

Bombay High Court Considers Appeal on Disallowance of Business Loss and Book Profit Computation under Income Tax Act, 1961. The Appeal Raises Questions on Write-off of Deposits under Section 28, Scrutiny of Audited Accounts for Section 115J, and Deductibility of Miscellaneous Expenses under Section 37.

2 May 2025

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High Court

Bombay High Court Dismisses Petitioner's Challenge to Reopening of Assessment Under Section 147 of Income Tax Act, 1961 — Reopening Based on Tangible Material from Investigation Wing and Not a Mere Change of Opinion. Failure to Disclose Primary Facts During Original Assessment Justifies Reopening Within Four Years.

8 Sep 2023

The petitioner, Vaman Prestressing Co. Pvt. Ltd., filed two writ petitions challenging the reopening of its assessment for the Assessment Year 2006-07...

Supreme Court

Supreme Court Partly Allows Appeals in Arbitration Dispute Over Interest and Contract Interpretation. The Court held that arbitral tribunals have the power to award compound interest under Section 31(7) of the Arbitration and Conciliation Act, 1996, and that a Memorandum of Understanding merged into an Implementation Agreement for arbitration purposes based on contractual terms.

7 Jan 2022

The Supreme Court addressed two civil appeals arising from a common judgment of the High Court of Himachal Pradesh in an arbitration dispute between U...

Supreme Court

Supreme Court Allows State's Appeal in Excise Duty Case — Licensee Liable for Duty on Liquor Destroyed in Fire. Absolute liability under Rule 7(11)(a) of UP Bottling of Foreign Liquor Rules, 1969 and Rules 708/709 of UP Excise Manual; act of God no defense.

6 Jan 2022

The case arises from a fire incident on 10.04.2003 at the godown of the respondent company, a distillery licensee, which destroyed 35,642 cases of Ind...

Supreme Court

Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

11 Sep 2020

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case on Interest Income Classification. Interest income from bank deposits, intercorporate deposits, call money, debentures, and from Income Tax Department held not to be business income for deduction under Section 80HHC of the Income Tax Act, 1961.

30 Sep 2014

The Revenue Department filed appeals under Section 260-A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate Tribunal (ITAT) fo...

High Court

High Court of Bombay Dismisses Revenue's Appeal in Cooperative Sugar Factory Case — Disallowance of Interest on Borrowed Capital Not Justified When Own Funds Exceed Investment. Section 36(1)(iii) of Income Tax Act, 1961 does not permit disallowance of interest on borrowed capital if assessee's own interest-free funds are sufficient to cover the investment.

5 Sep 2014

The Commissioner of Income Tax, Aurangabad, filed an appeal under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appell...

High Court

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30 Apr 2014

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High Court

Bombay High Court Allows Interest on Refund of Service Tax Paid in Anticipation of Import of Services — Section 11BB of Central Excise Act, 1944 Mandates Interest from Date of Refund Claim. Petitioner deposited service tax but did not receive RBI permission for remittance; refund claim filed on 27 April 2006; Deputy Commissioner disallowed interest; High Court held interest payable from date of refund claim under Section 11BB.

6 Jun 2011

The Petitioner, Shroff United Chemicals Limited, deposited Rs.1.02 Crores as service tax on 31 March 2006 in anticipation of importing intellectual pr...

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