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High Court of Bombay at Goa Dismisses Revenue Appeal in Income Tax Case — Valuation of Low Grade Iron Ore Closing Stock Upheld. Tribunal justified in relying on coordinate bench order for consistent valuation method under Income Tax Act, 1961.

The appeal was filed by the Principal Commissioner of Income Tax, Goa, under Section 260A of the Income Tax Act, 1961, challenging the order of the In...

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Karnataka High Court Allows Assessee's Appeal in Income Tax Reopening and Agricultural Income Estimation Case. Reopening under Section 148 of Income Tax Act, 1961 held invalid for lack of tangible material, and Tribunal's reversal of CIT(A)'s agricultural income estimation set aside as perverse.

The appellant, Shri S L Basavaraj (HUF), an assessee, filed appeals against a common order of the Income Tax Appellate Tribunal (ITAT) dated 30 Januar...