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Supreme Court

Supreme Court Allows Assessee Banks in Income Tax Act Section 14A Dispute Over Disallowance of Interest Expenditure. Court held that when assessee banks have sufficient interest-free own funds exceeding investments in tax-free bonds and shares, no proportionate disallowance of interest under Section 14A is permissible, as investments are presumed to be made from interest-free funds.

9 Sep 2021

The Supreme Court of India addressed a batch of civil appeals concerning the interpretation of Section 14A of the Income Tax Act, 1961, in the context...

High Court

Bombay High Court Quashes Stay Order in Income Tax Dispute — Directs Fresh Consideration of Stay Application on Merits. Revenue directed to pass a reasoned order on the stay application after hearing the assessee, considering the strong prima facie case and financial hardship.

4 Apr 2013

The petitioner, HDFC Bank Limited, challenged an order dated 18 March 2013 passed by the Assistant Commissioner of Income Tax - 2(3), Mumbai, which di...

Supreme Court

Supreme Court Dismisses Assessee in Income Tax Appeal Over TDS Disallowance. Disallowance of Rs. 57,11,625 upheld under Section 40(a)(ia) of Income Tax Act, 1961 as assessee failed to deduct tax at source on payments exceeding Rs. 20,000 per goods receipt to truck operators under Section 194C.

29 Jul 2020

The dispute arose from an income tax assessment for the year 2005-2006 involving Shree Choudhary Transport Company, a partnership firm engaged in tran...

High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case — Tribunal Erred in Setting Aside Entire Disallowance When Assessee Withdrew Its Appeal. The disallowance of Rs.14,96,064/- became final upon withdrawal of assessee's appeal and could not be reopened by the Tribunal.

26 Mar 2012

The Revenue appealed against the Income Tax Appellate Tribunal's order dated 9 September 2011 for Assessment Year 2004-05. The Assessee, M/s Jamnadas ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case on Disallowance Under Section 14A and TP Adjustment on Guarantee Commission. ITAT's Restriction of Disallowance to Rs.1,00,000/- and Deletion of TP Addition Upheld as No Substantial Question of Law Arises.

8 May 2015

The case pertains to an appeal filed by the Commissioner of Income Tax, Mumbai (the revenue) against the order of the Income Tax Appellate Tribunal (I...

High Court

High Court of Bombay at Goa Allows Appeal in Income Tax Case — Commission Payment to Non-Resident Not Liable to TDS Under Section 195 of Income Tax Act, 1961. Disallowance Under Section 40(a)(ia) Cannot Be Sustained When Income Is Not Chargeable to Tax in India.

10 Oct 2016

The appellant, M/s Zephyr Biomedicals, a partnership firm, filed its return of income for Assessment Year 2006-2007 declaring total income of Rs.8,35,...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Disallowance of Interest Case. Tribunal's finding that assessee had sufficient interest-free funds for investments upheld, and S.A. Builders precedent on business purpose for advances to sister concerns applied.

28 Mar 2012

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appellate Tribunal dated...

High Court

Bombay High Court Dismisses Revenue's Appeal in Service Tax Disallowance Case Under Section 43B of Income Tax Act. Tribunal's deletion of disallowance upheld as service tax liability had not accrued since amount not received from clients.

17 Apr 2015

The present appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITA...

High Court

Bombay High Court Allows Writ Petition Challenging Intimations Under Section 143(1)(a) of Income Tax Act for Non-Grant of TDS Credit. The court held that TDS credit cannot be denied in summary intimation without verification of TDS certificates filed with the return.

10 Oct 2005

The petitioners, LML Ltd. and its director Sanjeev Shriya, challenged intimations issued under Section 143(1)(a) of the Income Tax Act, 1961 for the a...

High Court

Bombay High Court held that the entire amount of unverified purchases should be disallowed under Section 69C of the Income Tax Act, 1961, rejecting partial disallowance made by appellate authorities.

5 Mar 2025

Income Tax Act, 1961 – Section 69C – Bogus Purchases – Profit Rate Determination – Full Disallowance – Validity of Tribunal’s Decision ...

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