Search Results for "Section 115JB"

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Search Results for "Section 115JB"

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High Court

Bombay High Court Allows Revenue Appeals in Income Tax Cases on Disallowance of Interest Expenditure on Tax-Free Securities. Held that Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 mandates disallowance of expenditure incurred in relation to income not includible in total income, and the Assessing Officer must record satisfaction before invoking Rule 8D.

16 Apr 2019

The judgment involves a batch of appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging orders of the Income Tax App...

High Court

Madras High Court Allows Assessee's Appeal in MAT Computation Case — Capital Gain on Sale of Fixed Assets Cannot Be Added to Book Profit Under Section 115JB When Not Credited to Profit and Loss Account. The Court held that the Assessing Officer cannot rework book profit under Section 115JB by including capital gains directly absorbed in the balance sheet, as the computation under Section 115JB must be based on the profit as shown in the profit and loss account prepared in accordance with the Companies Act.

20 Mar 2026

The appellant, M/s PVP Corporate Parks Pvt. Ltd., a private limited company engaged in leasing and renting of amenities and buildings, filed its incom...

High Court

Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Fresh Material Beyond Four Years. Unabsorbed Depreciation Set-Off and Book Profit Adjustments Under Section 115JB of Income Tax Act, 1961 Not Justified for Reopening.

15 Feb 2012

The petitioner, Voltas Limited, filed a writ petition challenging a notice dated 30 March 2011 issued under Section 148 of the Income Tax Act, 1961, s...

High Court

Bombay High Court Upholds Reopening of Assessment Under Section 147(a) for Income Tax on Minimum Guarantee Receipts from Film Sale. Assessee's Failure to Disclose Full Consideration for Sale of Movie 'Charas' Justifies Reassessment Despite Partial Acceptance of Addition.

17 Nov 2017

The case involves an income tax reference at the instance of the assessee, who sold a movie titled 'Charas' to M/s. Prakash Pictures on a minimum guar...

Supreme Court

Supreme Court Allows Filing of Revised Income Tax Returns After Due Date in Amalgamation Case — Holds That NCLT-Approved Scheme Overrides Procedural Timelines Under Income Tax Act. Clause 64(c) of the Scheme Permitting Revised Returns Has Statutory Force and Department Cannot Reject Them as Invalid.

18 Dec 2019

The Supreme Court allowed the appeals filed by M/s Dalmia Power Limited and M/s Dalmia Cement (Bharat) Limited against the judgment of the Division Be...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Failure to Disclose — Reassessment Beyond Four Years Invalid Without Allegation of Non-Disclosure

24 Jan 2012

The petitioner, DIL Ltd., challenged a notice dated 8 March 2011 issued under Section 148 of the Income Tax Act, 1961, seeking to reopen the assessmen...

High Court

Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Fresh Material. Loan Waiver Amount Already Disclosed During Original Assessment Cannot Be Reopened Under Section 147 of Income Tax Act, 1961 Without New Information.

22 Nov 2011

The Petitioner, Kimplas Trenton Fittings Ltd., filed a writ petition challenging a notice dated 25 March 2011 issued under Section 148 of the Income T...

High Court

Madras High Court Dismisses Revenue's Appeals in Insurance Company Tax Case — Upholds ITAT Order on Disallowance of Claims and Deductions. The court held that the assessee's method of accounting for outstanding claims and the deduction under Section 80M were correctly allowed by the Tribunal.

9 Jan 2025

The case involves a batch of appeals filed by the Principal Commissioner of Income Tax, Chennai, under Section 260A of the Income Tax Act, 1961, again...

High Court

Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Non-Consideration of Reply. Failure to Consider Petitioner's Detailed Reply in Section 148A(d) Proceedings Renders Order Invalid Due to Non-Application of Mind.

10 Mar 2026

The petitioner, Pierlite India Private Limited, a company incorporated under the Companies Act, 1956, engaged in manufacturing low voltage switchgear ...

High Court

High Court of Bombay at Goa Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts. The court held that the Assessing Officer cannot reopen assessment on the same material already examined during scrutiny, as it amounts to a change of opinion.

6 Mar 2018

The petitioner, Dempo Brothers Private Limited, a company incorporated under the Companies Act, filed its return of income for Assessment Year 2010-11...

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