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Supreme Court Dismisses Assessee's Appeal in Income Tax Case — Revised Return Barred by Limitation Under Section 139(5) of Income Tax Act, 1961. Assessing Officer Cannot Entertain Claim Made After Expiry of Time for Filing Revised Return.

The appellant-assessee, M/s. Shriram Investments, filed a return of income on 19 November 1989 for the assessment year 1989-90 under the Income Tax Ac...

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Bombay High Court Upholds Lease Rent Revision Based on Ready Reckoner Rates for Housing Societies in Bandra. Court holds that linkage of lease rent to land value is not per se prohibited and the Government Resolutions of 2006, 2012, and 2018 are constitutionally valid.

The Bombay High Court, in a batch of writ petitions, upheld the constitutional validity of Government Resolutions (GRs) dated 29th May 2006, 12th Dece...

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Supreme Court Allows Appeal of Taxpayer Against Non-Processing of Income Tax Returns and Refund Claims. Mandamus Issued to Process Returns Under Section 143(1) Within Four Weeks, Subject to Section 143(1D) and Section 241A of the Income Tax Act, 1961.

The appellant, Vodafone Idea Ltd. (formerly Vodafone Mobile Services Ltd), is a telecommunications company that filed income tax returns for Assessmen...

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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.

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...

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Karnataka High Court Allows Input Tax Credit Based on Annual Audited Accounts in KVAT Act Cases. The court held that Section 10(3) of the KVAT Act permits availment of input tax credit based on the annual audited statement in Form VAT 240, irrespective of the claim in returns under Section 35.

The judgment involves multiple writ petitions filed by M/s MFAR Constructions Pvt. Ltd. and M/s Mangalore Force, challenging the interpretation of Sec...