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Bombay High Court Allows Cooperative Housing Society's Challenge to Labour Court and Gratuity Proceedings. Ex-Manager's Claims Under Section 33-C(2) of Industrial Disputes Act and Payment of Gratuity Act Dismissed as Society is Neither an 'Industry' Nor an 'Establishment'.

The Petitioner, Apsara Co-operative Housing Society Ltd., is a cooperative housing society registered under the Maharashtra Co-operative Societies Act...

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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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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 Under Section 148 of Income Tax Act, 1961 for Lack of Reasonable Belief and Change of Opinion. Reassessment Beyond Four Years Invalid Without Allegation of Failure to Disclose Material Facts.

The petitioner, Nivi Trading Limited, a private limited company, filed its return of income for Assessment Year 2010-11 on 15th September 2010 declari...

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Bombay High Court Dismisses Petition Challenging Search Warrant Under Section 132 of Income Tax Act, 1961 — No Violation of Natural Justice as Assessee Was Heard Before Assessment Orders Were Passed.

The petitioner, Hemendra Ranchhoddas Merchant, an erstwhile partner of a dissolved firm and now proprietor of M/s. Sriram Warehousing Corporation, fil...

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Bombay High Court Dismisses PIL Challenging Entertainment Tax Exemption for IPL Matches — State Government's Policy Decision Not Interfered With. Policy Decision on Tax Exemption Upheld as Not Arbitrary Under Bombay Entertainment Duty Act, 1923.

The petitioner, a sitting Member of the Maharashtra Legislative Assembly, filed a Public Interest Litigation challenging the propriety of the decision...

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Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — No Failure to Disclose Material Facts. Retirement Receipt from Partnership Firm Held Not Taxable as Capital Receipt, Not Revenue Receipt.

The petitioner, Balkrishna Hiralal Wani, was a partner in a firm of solicitors. He retired on 20th October 2003 upon attaining the age of seventy year...

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Bombay High Court Dismisses Pune Municipal Corporation's Petition in Property Tax Classification Dispute. Profession of Chartered Accountant Held Not Equivalent to Trade or Business for Tax Levy Under BPMC Act.

The case involves a property tax dispute between the Pune Municipal Corporation (petitioner) and Respondent No.1, a Chartered Accountant. The Corporat...