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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Block Assessment Case Due to Consistency Principle. ITAT's order upheld as Revenue failed to challenge similar deletions in related assessees' cases.

The case involves an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging an order of the Income Tax Appellate Trib...

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High Court Dismisses Writ Petition in Income Tax Matter Involving India-China DTAA Interpretation. Petitioner's Claim for NIL Withholding Tax Certificate Rejected Due to Pending Assessments and Previous Tax Determinations Under Section 197 of Income Tax Act, 1961.

The dispute involved a Chinese company, Petitioner, which provided technical services to its Indian subsidiary, Benteler India Private Limited, under ...

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Bombay High Court Dismisses Revenue's Appeal in Severance Pay Amortization Case. ITAT's order allowing amortization of severance pay under Section 35DDA of Income Tax Act, 1961 upheld despite cessation of business.

The Commissioner of Income Tax-7, Mumbai appealed against the order of the Income Tax Appellate Tribunal (ITAT) dated 5th September 2011, which allowe...

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Bombay High Court Allows Revenue Appeal in Capital Gains Tax Case — Land Sold by Non-Resident Indians Held Not Agricultural Land. Land Adjacent to Five-Star Hotels with Barren Nature and High Sale Price Indicates Non-Agricultural Character Under Section 2(14) of Income Tax Act, 1961.

The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribu...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Reassessment Case — Reopening Based on Change of Opinion Invalid. ITAT Correctly Held That Reassessment Under Section 147 Was Not Justified as There Was No Failure to Disclose Material Facts.

The case involves a tax appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the cancel...