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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Bombay High Court Delivers Judgment on Challenge to Disqualification of Councillors for Defying Party Whip. The Court Examines Whether the Collector's Order Disqualifying Councillors Under Section 3(1)(b) of Maharashtra Local Authority Members' Disqualification Act, 1986 Was Legally Sustainable.

The case arose from the election of the President of Ausa Municipal Council after the post fell vacant due to the resignation of the sitting President...

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High Court of Karnataka Hears Appeals Against Decree for Specific Performance in Suit Involving Subsequent Purchasers. The trial court had decreed specific performance of an agreement to sell agricultural lands, directing the original vendor and later purchasers to execute a joint sale deed.

The appeal arises from a suit for specific performance of an agreement to sell agricultural lands. The first defendant, the owner, agreed to sell the ...

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High Court of Karnataka Adjudicates Petition to Quash Criminal Complaint for TDS Default Under Income Tax Act. Company and Directors Contend Prosecution Invalid Due to Lack of Prior Adjudication of Liability and Compliance with CBDT Circulars.

The matter arose from a criminal complaint filed by the Income Tax Department against a hospitality company and its directors for failing to remit Tax...

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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

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High Court of Karnataka Dismisses Petition Seeking Declaration of Lapse of Land Designation Under Section 69(2) of Karnataka Town and Country Planning Act, 1961 — Petitioner Failed to Show That Designation Was Made Under Master Plan-2031 or That Land Was Not Acquired Within Five Years.

The petitioner, Sri Narayanaswamy, filed a writ petition under Article 226 of the Constitution of India before the High Court of Karnataka at Bengalur...

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Bombay High Court Allows Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act — Reassessment Based on Mere Change of Opinion Invalid as Full Disclosure Was Made During Original Assessment.

The petitioner, Plus Paper Food Pac Ltd., filed a writ petition challenging a notice dated 18.11.2013 issued under Section 148 of the Income Tax Act, ...

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WRIT PETITION NO.730 OF 2009

The four writ petitions arose from income tax assessment proceedings concerning the transfer of shares of Idea Cellular Limited (formerly Birla Commun...