Search Results for "income computation"

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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...
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Search Results for "income computation"

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Supreme Court

Supreme Court Sets Aside Compensation Awards in Motor Accident Claim, Remands for Fresh Assessment of Income of Deceased Employed Abroad. The Court held that the High Court erred in relying on an unproven letter to determine income at $6,700 per month, and directed reassessment of income based on proper evidence under Section 166 of the Motor Vehicles Act, 1988.

4 Sep 2020

The case arises from a motor vehicle accident on 18 November 1998 in which Satpal Singh, a resident of Doha, Qatar since 1984, died after his scooter ...

High Court

Bombay High Court Quashes Reassessment Notice Issued by Jurisdictional Assessing Officer Instead of Faceless Assessing Officer Under Section 148 of Income Tax Act, 1961 — Violation of Section 151A and Faceless Scheme Renders Proceedings Invalid.

5 Aug 2024

The petitioner, Kairos Properties Private Limited, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 25 ...

Supreme Court

Supreme Court Allows Revenue Appeals in Section 153A Search Assessment Dispute — Assessing Officer Can Assess Total Income Including Non-Incriminating Material. The Court held that under Section 153A of the Income Tax Act, 1961, the Assessing Officer is competent to assess total income considering all material on record, not limited to incriminating material found during search.

24 Apr 2023

This batch of appeals involves a common question of law regarding the scope of assessment under Section 153A of the Income Tax Act, 1961. The Revenue ...

High Court

High Court of Judicature at Bombay Refers Question of Law on Allowability of Expenditure under Section 40(a)(i) and Section 172 of Income Tax Act to Larger Bench. Disagreement with earlier Division Bench decision in CIT v. Orient (Goa) Pvt. Ltd. leads to referral on whether payer's non-resident status required for invoking proviso to Section 172.

5 Feb 2016

Background: The case concerns income tax appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income ...

High Court

Bombay High Court Allows Assessee's Appeal in Income Tax Case on Interest Deduction Under Section 36(1)(iii) — Section 14A Not Applicable When No Exempt Income Earned. Interest on Borrowed Capital Invested in Shares of Own Companies Held Allowable as Business Expenditure.

1 Mar 2024

The appellant, Mahesh K. Mehta, a chartered accountant turned stock broker, acquired membership of the Bombay Stock Exchange in 1987 and the National ...

Supreme Court

Supreme Court Allows Revenue's Appeal in Income Tax Deduction Dispute — High Court Exceeded Jurisdiction by Reappraising Factual Findings. Compensation Paid Through Assessee to Former Agents Not Deductible Under Section 10(2)(xv) of Income-tax Act, 1922, as No Overriding Title Established.

20 Feb 1969

The respondent, a subsidiary of Imperial Chemical Industries (London), acted as sole selling agent in India for I.C.I. (Export) Ltd., another subsidia...

High Court

Bombay High Court Allows Writ Petition Challenging Refusal to Credit Amount Paid Under Income Declaration Scheme in Direct Tax Vivad Se Vishwas Act Proceedings. Court Holds That Beneficial Legislation Must Be Interpreted Liberally and Non Obstante Clause Does Not Bar Credit for Prior Payments Under Earlier Scheme.

11 Aug 2021

The petitioner, Pinnacle Vastunirman Private Limited, filed a writ petition challenging the refusal of the Principal Commissioner of Income Tax-2 (res...

Supreme Court

Supreme Court Upholds Additional Tax on Reduction of Loss Under Section 143(1-A) of Income Tax Act, 1961 — Even Where Assessee Remains in Loss After Adjustment, Additional Tax Is Payable on the Amount of Reduction in Loss. The court held that the plain language of Section 143(1-A) applies when loss is reduced, and the additional tax is calculated on the adjustment amount as if it were total income, rejecting the argument that the provision is penal.

19 Mar 2020

The appellant, Rajasthan State Electricity Board, a government company, filed its income tax return for assessment year 1991-92 declaring a loss of Rs...

High Court

Bombay High Court Allows Writ Petition Challenging Settlement Commission's Power to Levy Interest Under Section 234B When No Interest Was Charged in Original Assessment. Interest under Section 234B(4) can only be increased or reduced if it was initially chargeable under the original assessment order.

2 Jul 2010

The petitioner, Akbar Travels of India Pvt. Ltd., an IATA approved travel agent and money changer, filed returns for Assessment Years 2002-03 to 2006-...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Penalty Case — No Substantial Question of Law Arises. Tribunal's concurrent findings on non-concealment of income and non-furnishing of inaccurate particulars under Section 271(1)(c) of the Income Tax Act, 1961 upheld.

25 Sep 2013

The 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, Bangalore,...

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