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Bombay High Court Upholds Assessee's Appeal in Service Tax Penalty Case Due to Reasonable Cause Under Section 80 of Finance Act, 1994. Penalty Under Section 76 Set Aside Because Assessee's Bona Fide Belief on Exclusion of Goods Cost from Taxable Value Constituted Reasonable Cause.

The appeal before the High Court of Bombay at Goa arose from a service tax dispute concerning penalty under Section 76 of the Finance Act, 1994. The a...

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High Court of Bombay Examines Jurisdictional Challenge to Transfer Pricing Adjustment on Equity Share Issuance. Whether Alleged Shortfall in Premium Constitutes Income from International Transaction Under Chapter X of Income Tax Act, 1961.

Vodafone India Services Pvt. Ltd. (the Petitioner), a wholly owned subsidiary of a non-resident holding company, required funds for its telecommunicat...

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Bombay High Court Hears Writ Petition Challenging Taxation of Alleged Shortfall in Share Premium Under Transfer Pricing Provisions. The Dispute Centers on Whether Chapter X of the Income Tax Act, 1961 Can Apply When No Actual Income Arises from the International Transaction.

The petitioner, Vodafone India Services Pvt. Ltd., a wholly owned subsidiary of a non-resident holding company, issued 2,89,224 equity shares at a pre...

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High Court of Bombay at Goa Adjudicates Tax Appeals on Wealth Tax Assessment of Coastal Property. Interpretation of Section 2(ea)(v) of the Wealth Tax Act, 1957, Regarding Exclusion of Non-Buildable Land Under CRZ Regulations.

The appeals arose from a common order dated 13 February 2004 of the Income Tax Appellate Tribunal, Panaji, concerning wealth tax assessments of severa...

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WRIT PETITION NO.4520 OF 2014

The writ petitions challenged the constitutional validity and propriety of a notification dated January 29, 2014, issued by the Finance Department of ...

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High Court of Judicature at Bombay Considers Wealth Tax References and Writ Petition on Inclusion of Seized Gold in Net Wealth. Assessee Challenged Valuation of Gold Seized Under Gold Control Act, Claiming Nil Value Due to Confiscation and Revenue's Prevention of Investment in Exempt Gold Bonds.

The matters before the Bombay High Court comprised wealth tax applications, references, income tax appeals, and a writ petition arising from inclusion...

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Bombay High Court Dismisses Revenue's Appeal in Sales Tax Classification Dispute. Non-prescription sunglasses/goggles are medical devices under Schedule Entry C-107(8) of MVAT Act, 2002, taxable at 4%, not residuary entry E-1 at 12.5%.

The case involves a dispute over the classification of non-prescription sunglasses/goggles under the Maharashtra Value Added Tax Act, 2002. The respon...