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Bombay High Court Allows Writ Petition for Non-Compliance of DRP Directions Within Statutory Time Limit Under Section 144C(13) of Income Tax Act, 1961. Failure to Complete Assessment Within One Month of Receiving DRP Directions Renders Transfer Pricing Addition Time-Barred and Non-Est.

The Petitioner, Archroma International (India) Private Limited (formerly Huntsman International (India) Private Limited), filed a Writ Petition under ...

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High Court of Karnataka Passes Order in Writ Petition by Company Challenging Rejection of Application Under Industrial Park Scheme, 2002. Petitioner's Application Dated 15.12.2006 Under IPS 2002 Was Rejected on Ground That Scheme Expired on 31.03.2006.

The petitioner, a private limited company, proposed to set up an industrial park named 'Salarpuria Touch Stone' in Bangalore under a Joint Development...

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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.

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

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Bombay High Court Dismisses Appeal by MOIL Limited Against Revision Under Section 263 for CSR Claim. Commissioner Justified in Remanding CSR Expenditure for Proper Inquiry as Assessment Order Was Erroneous and Prejudicial to Revenue.

The appellant-assessee, MOIL Limited (formerly Manganese Ore India Limited), a public sector undertaking wholly owned by the Government of India, is e...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal Correctly Held Commissioner Not Justified Under Section 263 for Alleged Double Deduction of Excise Duty. Assessing Officer Followed Permissible View and Assessee Did Not Claim Deduction Twice.

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (I...

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High Court of Karnataka Dismisses Revision Petitions in KVAT Act Case — Joint Commissioner Had Jurisdiction to Invoke Suo Moto Revision Under Section 63-A. Purchases from Composition Dealers Not Deductible from Contract Receipts for Taxable Turnover.

The case involves revision petitions filed by M/S JMC Projects (India) Ltd. against the State of Karnataka under Section 65(1) of the Karnataka Value ...

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Bombay High Court Allows Appeals, Remands Case for Fresh Assessment, Clarifies Taxability of Unauthorised Structures and Reassessment of Land. Unauthorised Structures Held Liable to Property Tax Under Mumbai Municipal Corporation Act, 1888, While Land Already Assessed Cannot Be Reassessed.

The four first appeals before the Bombay High Court arose out of orders passed by the Small Causes Court in municipal appeals concerning the fixation ...