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KAHC030005792015_1

The judgment relates to a conglomeration of appeals and cross-objections arising out of land acquisition proceedings initiated by the State of Karnata...

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Supreme Court Allows Restitution to Judgment Debtor Under Section 144 CPC When Decree Varied and Decree Holder Purchased Property in Auction. Auction Sale Set Aside Due to Variation of Decree and Lack of Bona Fide Purchaser Status.

The appeal arose from a restitution application under Section 144 of the Code of Civil Procedure, 1908 (CPC). The original plaintiff (decree holder) o...

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Bombay High Court Allows Assessee's Appeal on Proportional Increase of Advertisement Limit and Deductibility of Statutory Fund Transfer. Holds that Section 37(3A) limit must be proportionately increased for extended previous year and transfer to statutory storage fund is deductible under Section 37(1).

This judgment by the Bombay High Court addresses four questions of law referred by the Income Tax Appellate Tribunal under Section 256(1) of the Incom...

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Supreme Court Dismisses Assessee's Claim to Treat Compensation as Capital Receipt Under Income Tax Act. Lump sum payment received by managing agent for reduction in remuneration held to be revenue receipt as it was in lieu of future profits and not for loss of managing agency.

The assessee firm, M/s. Godrej & Company, was appointed managing agent of a limited company for thirty years from November 9, 1933, under an agreement...

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High Court of Karnataka Dismisses Revenue's Appeal in Transfer Pricing Case for Acer India Pvt. Ltd. — No Substantial Question of Law Arises. Tribunal's deletion of TP adjustment upheld as consistent with earlier assessment year order.

The Revenue filed an appeal under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT) dated 29.11....

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KAHC010521472015_1

The plaintiff, a company registered under the Companies Act, 1956, engaged in developing resorts and health clubs, entered into an agreement to purcha...

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High Court of Karnataka Dismisses Revenue's Appeals in Transfer Pricing and Reassessment Cases — Upholds ITAT Orders on Arm's Length Price and Non-Disclosure of Material Facts.

The judgment pertains to two Income Tax Appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961. ITA No. 55/2024 arises from an o...