Search Results for "Income-tax Act, 1961"

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Search Results for "Income-tax Act, 1961"

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Supreme Court

Supreme Court Dismisses Revenue's Appeal in Income Tax Matter — Assessee Entitled to Section 25(4) Benefit. Business Was Carried on at Commencement of Amendment Act 7 of 1939, as Determined from Partnership Deed and Interpretation of Commencement Under General Clauses Act.

19 Nov 1965

The dispute arose under the Indian Income Tax Act, 1922, concerning the entitlement of the assessee firm to exemption under section 25(4) for the asse...

Supreme Court

Supreme Court Upholds Tax Authorities in Income Tax Case Regarding Refund of Excess Profits Tax. Repayment of excess profits tax received by a company in England deemed income under Section 11(14) of Indian Finance Act, 1946, irrespective of territorial source.

16 Mar 1959

The appellant, McGregor & Balfour Ltd., a company incorporated in the United Kingdom with its head office there, also carried on business in India. In...

Supreme Court

Supreme Court Allows Firm's Registration Under Section 26A of Income-tax Act, 1922 as Partnership Deed Read Reasonably Specified Equal Shares. Specifying Equal Division Among Partners Sufficiently Indicated One-Third Share Each, Satisfying Statutory Requirement for Registration.

28 Oct 1966

Three brothers entered into a partnership in 1949 for doing business. The partnership deed, in clause 3, allotted equal capital to each partner, and c...

High Court

Bombay High Court Dismisses Assessee's Appeal in Income Tax Revision Case — Commissioner Validly Invoked Section 263 for Non-Consideration of Seized Documents. The court held that the Assessing Officer's failure to consider seized 'Jama Kharch Panas' showing undisclosed turnover made the block assessment order erroneous and prejudicial to revenue.

26 Mar 2010

The appeal by the Assessee, M/s. Ranka Jewellers, under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tri...

High Court

Bombay High Court Allows Writ Petition Challenging CBDT Circular Denying Adjustment of TDS Against Tax Payable Under Voluntary Disclosure Scheme. Circular No. 755 dated 25-07-1997 Held Ultra Vires as It Imposed Restriction Not Found in Finance Act, 1997 or Income Tax Act, 1961.

10 Mar 2017

The petitioner, Earnest Business Services Pvt. Ltd., a company incorporated under the Companies Act, 1956, and its director, filed a writ petition und...

High Court

Bombay High Court Allows Writ Petition Against Rejection of Nil Withholding Certificate Under Section 195(3) of Income Tax Act — Past Tax Demands Not Valid Ground for Refusal. The court held that past tax demands for earlier assessment years cannot be a valid reason to reject an application under Section 195(3) for a subsequent year, as the provision is meant to determine the appropriate proportion of tax to be deducted at source on current payments.

13 Apr 2010

The petitioner, Mckinsey & Company Inc., a non-resident company incorporated in the USA with branches in India, filed an application under Section 195...

Supreme Court

Supreme Court Dismisses Assessee's Appeal in Income Tax Block Assessment Case on Levy of Interest and Surcharge. Interest under Section 158BFA(1) of Income Tax Act, 1961 upheld for belated filing of block period return despite notice issued under Section 158BD prior to amendment, as provision inherently incorporates Section 158BC procedure.

13 Jan 2023

The Supreme Court addressed a group of appeals concerning the levy of interest under Section 158BFA(1) and surcharge under Section 113 of the Income T...

Supreme Court

Supreme Court Dismisses State Appeals, Upholding Quashing of Agricultural Income-tax Assessments for Lack of Individual Notices and Limitation. Best Judgment Assessments Under Section 20(4) of Assam Agricultural Income-tax Act, 1939 Are Invalid if No Individual Notice Under Section 19(2) Was Served and No Escaped Assessment Proceedings Under Section 30 Were Initiated Within Three Years of Financial Year.

7 Aug 1969

The case involved two sets of assessees who owned or purchased tea estates in Assam and were subjected to agricultural income-tax assessments for seve...

High Court

Bombay High Court Quashes Assessment Order for Violation of Natural Justice in Faceless Assessment Scheme — Mandatory Personal Hearing Under Section 144B(6)(viii) Not Provided. The court held that failure to grant personal hearing as mandated by Section 144B(6)(viii) of the Income Tax Act, 1961 renders the assessment order a nullity, and consequently the demand notice and penalty show cause notices are also vitiated.

27 Feb 2025

The petitioner, Vimal Trading, a partnership firm engaged in trading and investment in the capital market, filed a nil return of income for Assessment...

High Court

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.

1 Feb 2010

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...

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