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Search Results for "section 10B"

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High Court

Gujarat High Court Allows Condonation of Delay for Charitable Trust in Income Tax Exemption Case — Technical Defect in Form 10B Approval Not Fatal. The court held that the Commissioner should have liberally condoned the delay under Section 119(2)(b) of the Income Tax Act, 1961 as the trust had filed the audit report before the due date and the delay in approval was due to a technical glitch.

9 Mar 2026

The petitioner, Shri Jain Dehrasar Upasraya Ane Sadharan, is a charitable trust registered under the Gujarat Public Trusts Act, 1950, engaged in runni...

High Court

Bombay High Court Allows Revenue's Appeals in Part in Income Tax Dispute Involving Disallowances Under Section 14A, Section 37, and Section 10B. The court held that Section 14A disallowance requires satisfaction of AO, scientific research expenditure not allowable, demurrage is business expenditure, and Section 10B deduction remanded.

7 May 2021

The case involves appeals by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which had partly allowed the...

High Court

Bombay High Court Allows Condonation of Delay in Filing Form No.10B for Charitable Trusts — Mistake of Chartered Accountant Constitutes Sufficient Cause. The court directed the Commissioner of Income Tax (Exemptions) to condone the delay and process Form No.10B for the assessment year 2018-2019, setting aside the rejection orders.

25 Mar 2021

The petitioners, Little Angels Education Society and Rev. C. F. Andrews Education Society, are charitable trusts running schools in Mumbai and assesse...

High Court

High Court of Bombay at Goa Upholds Assessee's Claim for Section 10B Deduction on Beneficiation of Iron Ore as Manufacturing Activity. The court held that converting raw mined iron ore into Iron Ore Concentrate Fines through beneficiation constitutes 'manufacture' under section 10B of the Income Tax Act, 1961, entitling the assessee to deduction.

9 Dec 2020

The case involves an appeal by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) which allowed the assessee's claim for deduct...

High Court

High Court of Bombay at Goa Allows Assessee's Appeal in Income Tax Deduction Case Under Section 10B — CIT Cannot Revise Assessment Under Section 263 Without Proper Inquiry. The court held that the Commissioner must record satisfaction that the assessment order is both erroneous and prejudicial to the interest of revenue, and mere lack of discussion does not make it erroneous if the Assessing Officer has made due inquiries.

2 Nov 2020

The case involves two tax appeals filed by Sesa Starlite Limited (formerly Sesa Goa Ltd.) against the Commissioner of Income Tax (CIT) concerning the ...

High Court

Bombay High Court Allows Revenue's Appeal in Section 10B Exemption Case - Expansion of Existing Unit Not Eligible for Deduction. The court held that the Assessee's expansion of its existing processing capacity with new plant and machinery does not qualify for exemption under Section 10B of the Income Tax Act, 1961, as per the Explanation to Section 10B(7).

22 Oct 2020

The case involves appeals by the Revenue against the Income Tax Appellate Tribunal's order allowing deduction under Section 10B of the Income Tax Act,...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Upholds ITAT Order on Disallowance of Interest and Depreciation. Held that interest on borrowed capital used for acquiring a capital asset is allowable as deduction under Section 36(1)(iii) of the Income Tax Act, 1961, and depreciation on assets acquired under a hire purchase agreement is allowable under Section 32.

12 Jun 2018

The case involves appeals filed by the Revenue (Pr. Commissioner of Income-Tax and Deputy Commissioner of Income-Tax) against the orders of the Income...

High Court

Bombay High Court Allows ESIC Appeal in ESI Coverage Dispute - Section 2A and Regulation 10B Held Mandatory. Employer's Failure to Obtain Code Number Does Not Excuse Contribution Liability Under Employees State Insurance Act, 1948.

31 Jul 2017

The appeal was filed by the Employees State Insurance Corporation (ESIC) under Section 82 of the Employees State Insurance Act, 1948 against the order...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 147 of Income Tax Act for Lack of Reasons — Reopening Based on Mere Change of Opinion Invalid. Failure to Communicate Reasons for Reopening Violates Principles of Natural Justice and Renders Notice Invalid.

13 Jun 2017

The judgment pertains to two writ petitions filed by M/s. Velingkar Brothers, a partnership firm registered under the Partnership Act, 1932, challengi...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Royalty Payment Held Allowable and Section 10B Deduction Properly Claimed. Tribunal's finding that royalty was genuine and in accordance with business exigencies upheld, and assessee's option for Section 10B by filing Form 56G and claiming in computation was valid.

7 Feb 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the Income Tax Appellate Tribunal's order dated 22 September 2009...

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