Search Results for "capital asset"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
Supreme Court Acquits Accused in Murder Case Due to Incredible Dying Declaration...
Supreme Court Quashes Criminal Proceedings Under Section 182 IPC for Lack of Val...

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High Court

Bombay High Court Quashes Section 55A Notice for Valuation After Assessment Completed — Assessing Officer Cannot Refer Valuation After Passing Assessment Order Under Section 143(3) of Income Tax Act, 1961. The power under Section 55A is to be exercised during the pendency of assessment proceedings, not after the assessment order is passed.

3 Apr 2006

The writ petition was filed by Rallis India Limited challenging a notice dated 19th April, 2005 issued under Section 55A of the Income Tax Act, 1961 b...

Supreme Court

Supreme Court Allows Appeals by Successful Resolution Applicant and Union Bank in DHFL Insolvency Case, Upholds Resolution Plan Modifications on Avoidance Applications and Confidentiality. The Court held that the NCLAT exceeded its jurisdiction by modifying the resolution plan approved by the CoC and NCLT regarding avoidance applications, and that the commercial wisdom of the CoC is not subject to judicial review except under Section 30(2) IBC.

1 Apr 2025

The Supreme Court disposed of a batch of appeals arising from the insolvency resolution of Dewan Housing Finance Corporation Limited (DHFL) under the ...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasons to Believe Income Escaped Assessment. Reassessment Based on Change of Opinion Regarding Cost of Acquisition Under Section 55(2)(b)(ii) is Invalid.

22 Dec 2017

The petitioner, J.B. Amin & Brothers (HUF), owned land at Aurangpura, Aurangabad, purchased by late Balubhai Amin for Rs.1,80,000. After his death in ...

High Court

Bombay High Court Hears Writ Petition Challenging Reopening Notice Under Section 148 of Income Tax Act; Assessee Asserts Long Term Capital Loss on Capital Reduction Was Fully Disclosed and Reassessment After Four Years Is Impermissible Without Failure to Disclose Material Facts. Reasons for Reopening Alleged No Transfer Occurred Despite Supreme Court Precedent That Extinguishment of Rights in Capital Asset Constitutes Transfer.

30 Sep 2021

The matter arose from a writ petition filed by the assessee challenging a notice under Section 148 of the Income Tax Act, 1961 and the subsequent orde...

Supreme Court

Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

9 Dec 2025

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

Supreme Court

Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Taxation of Forest Tree Sale Proceeds. Proceeds from 'Clear Felling' of Spontaneous Growth Trees Leaving Stumps for Regeneration Held to be Revenue Receipt under the Income Tax Act, 1922.

24 Sep 1969

The Supreme Court of India addressed the taxability of proceeds from the sale of forest trees under a 'clear felling' agreement. The assessee's father...

Supreme Court

Supreme Court Dismisses Revenue's Appeal in Income Tax Act Case Upholding Revisional Jurisdiction. Commissioner Validly Set Aside Assessment Order as Payment to Shareholders Was Not 'Cost of Improvement' Under Capital Gains Computation Under Sections 48 and 263 of Income Tax Act, 1961.

6 Apr 2023

The dispute arose from an income tax assessment concerning the sale of a property named 'Paville House' by the respondent assessee, a company engaged ...

High Court

Bombay High Court Allows Revenue's Appeal on Indexation Benefit for Redemption of Non-Cumulative Preference Shares. Redemption of preference shares is a 'transfer' under Section 2(47) of the Income Tax Act, 1961, and indexation benefit under Section 48 is not available as preference shares are in the nature of debt.

27 Apr 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, arose from a decision of the Income Tax Appellate Tribunal dated 19 December...

High Court

Bombay High Court Allows Assessees in Income Tax Reference Regarding Gold Bonds Profit as Capital Gain. Profit from sale of National Defence Gold Bonds held not taxable as business income under Income Tax Act, 1961, as transaction was not an adventure in the nature of trade.

13 Oct 2005

The case involves three income tax references arising from a common order of the Income Tax Appellate Tribunal, Mumbai, for the assessment year 1980-8...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reason to Believe. Transfer of Development Rights Not Constituting Transfer Under Section 2(47) of Income Tax Act, 1961.

10 Feb 2023

The petitioner, Late Bharat Jayantilal Patel (since deceased through legal heir Smt. Minal Bharat Patel), challenged a notice issued under Section 148...

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