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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 Quashes Detention Order Under MPDA Act for Lack of Material to Support Apprehension of Bail. Detenu in Judicial Custody Without Bail Application; Detaining Authority's Satisfaction of Imminent Release Held Unsubstantiated.

The petitioner, Sagar Sunil Gaikwad, challenged an order of detention dated 27 September 2017 passed by the Commissioner of Police, Pune, under Sectio...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Case for Lack of Proper Inquiry. Commissioner's order under Section 263 set aside as no inquiry was conducted before passing the revision order.

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal which had set asid...

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Bombay High Court Allows Reference in Income Tax Case — Remands to Tribunal for Fresh Determination on Cessation of Liability Under Section 41(1) of Income Tax Act, 1961. Disputed Liability for Forest Produce Price Not Ceased Merely Because Assessee Did Not Pay Pending Adjudication.

The case involves an income tax reference by the Income Tax Appellate Tribunal to the Bombay High Court regarding the applicability of Section 41(1) o...