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Supreme Court Upholds Revenue in Income Tax Act Case Involving Cancellation of Trust Registration. Cancellation Under Section 12AA(3) Justified Due to Admission of Bogus Donations and Non-Genuine Activities by the Trust, Violating Its Objects and Misusing Tax Provisions.

The dispute involved the Commissioner of Income Tax (Exemptions) appealing against a High Court judgment that set aside the cancellation of registrati...

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Bombay High Court Dismisses Tax Appeal in Income Tax Reassessment Case — Upholds Addition of Unexplained Cash Credits Under Section 68 of Income Tax Act, 1961. Failure to Prove Identity, Creditworthiness, and Genuineness of Share Application Money Leads to Confirmation of Addition.

The case involves a tax appeal by M/s. Prithvi Consultants Pvt. Ltd. against the Deputy Commissioner of Income Tax, Central Circle, Panaji, Goa. The d...

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Supreme Court Allows Appeal in Motor Accident Compensation Case — Future Prospects Awardable in Permanent Disablement Cases. Loss of earning capacity must consider functional disability and actual income, not merely physical disability percentage.

The appellant, Pappu Deo Yadav, was a 20-year-old data entry operator earning ₹12,000 per month when he suffered a serious motor accident on 18.05.2...

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Bombay High Court Dismisses Petitions Challenging Retrospective Amendment to Foreign Trade Policy and Customs Notification. Court Holds That Importers Have No Vested Right in Export Obligation Period and Retrospective Amendment Is Valid to Prevent Misuse of Duty Exemption Scheme.

The Bombay High Court dismissed two writ petitions challenging the validity of Notification No.2(RE 2013)/2009-14 dated 18th April 2013, which retrosp...