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When the language of a statute is unambiguous and admits of only one meaning, no question of construction of a statute then arises.
Kumar Builders Consortium Vs The Pr. Commissioner of Income Tax- 4
(2022) TaxCorp(LJ) 29748 (HC-BOMBAY)
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The bottles and crates used for bottling the soft drinks manufactured by the assessee fall within the definition of Plant contained in section 43(3).
Parle Bisleri Private Limited Vs The Deputy Commissioner of Income-Tax
(2022) TaxCorp(LJ) 29625 (HC-BOMBAY)
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Revenue’s appeal before ITAT needs to be restored and considered on its own merits in light of observations made in this order and after considering the documents/orders sought to be placed on record through the rectification application.
Omega Investments and Properties Ltd Vs The Commissioner of Income Tax-3
(2022) TaxCorp(LJ) 29519 (HC-BOMBAY)
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It is a case where the assessment was sought to be reopened on account of change of opinion, which is not permissible in terms of proviso to Section 147.
Virbac Animal Health India P. Ltd Vs Assistant Commissioner of Income-tax-3(3)(1)
(2022) TaxCorp(LJ) 29518 (HC-BOMBAY)
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The preamble of VsV Act provides for resolution of disputed tax and for matters connected therewith. The emphasis is on disputed tax, not income.
Sadruddin Tejani Vs Income Tax Oficer
(2022) TaxCorp(LJ) 29400 (HC-BOMBAY) · Section 264
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Sec.119(2)(b) does not preclude CBDT from passing a special order in any given case from condoning the delay in filing Form No.10B beyond 365 days despite passing a general order.
Little Angels Education Society Vs Union of India and others
(2022) TaxCorp(LJ) 29399 (HC-BOMBAY)
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Assessment order on non-existent company was without jurisdiction, liable to be set-aside and participation in the assessment proceedings by assessee would not operate as an estoppel against law.
Teleperformance Global Services Private Limited Vs Assistant Commissioner of Income-tax
(2022) TaxCorp(LJ) 29388 (HC-BOMBAY)
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Even if the notice contains no caveat that the inapplicable portion be deleted, it is in the interest of fairness and justice that the notice must be precise.
Mohd. Farhan A. Shaikh Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29339 (HC-BOMBAY) · Section 271(1)(c)
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NHSRC was not a specified person within the meaning of Section 46 and thus, the exemption under Section 96 would squarely be applicable and no tax was deductible from the compensation.
Seema Jagdish Patil Vs The Principle Commissioner of Income Tax-1
(2022) TaxCorp(LJ) 29332 (HC-BOMBAY)
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The acknowledgement email sent on January 22, 2021 stated for issue of intimation u/s 143(1) and not u/s 245 and thus, no intimation was sent to the Assessee u/s 245 as required by law.
Tata Communications Ltd Vs Union of India
(2022) TaxCorp(LJ) 29308 (HC-BOMBAY) · Section 245
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The reason to believe must be of the Revenue, and neither the Court nor the Advocate can supplement it or improve upon it.
Anil Gulabdas Shah Vs The Asistant Commisioner of Income Tax
(2022) TaxCorp(LJ) 29266 (HC-BOMBAY) · Section 148
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Assessment linked to third party's search and investigation, is not classifiable as a search case under VsV Act as prescribed by CBDT Circular no. 4/2021 dt. Mar 23, 2021 r.w.Circular 21/2020 dt. Dec 4, 2020.
Bhupendra Harilal Mehta Vs Principal Commisioner of Income Tax
(2022) TaxCorp(LJ) 29253 (HC-BOMBAY)
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It would be incongruous to consider that uploading referred to in Clause 10 would mean all refunds arising are liable to be adjusted against the tax demands irrespective of orders thereon or subsisting instructions.
Vrinda Sharad Bal Vs The Income Tax Oficer
(2022) TaxCorp(LJ) 29252 (HC-BOMBAY)
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HC - Section cannot be interpreted to mean that for the Pr. CIT to exercise powers of revision u/s 264, not only that the time for filing the appeal should have expired but also that the assessee should have waived his right of appeal - Thus, once assessee chooses not to file appeal and time limit expires, waiver of right to file is not required for Pr. CIT to accept the application.
Aafreen Fatima Fazal Abbas Sayed Vs Asistant Commisioner of Income Tax
(2022) TaxCorp(LJ) 29234 (HC-BOMBAY) · Section 264
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There was no failure on the Assessee’s part to disclose material facts.
Rita Rajkumar Singh Vs Asistant Commisioner of Income Tax
(2022) TaxCorp(LJ) 29182 (HC-BOMBAY)
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The exchange traded derivative transaction carried on by the assessee prior to insertion of Section 43(5)(d) were speculative transactions the loss incurred in those transactions were liable to be treated as speculative loss and not business loss.
Souvenir Developers (I) Pvt. Ltd Vs The Union of India
(2022) TaxCorp(LJ) 29053 (HC-BOMBAY) · Sections 43(5), 73
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The reopening to be unsustainable since there lies no adversarial position with the Assessee.
Abhinandan Exports Vs Income Tax Oficer
(2022) TaxCorp(LJ) 28924 (HC-BOMBAY)
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Rejecting a declaration on the ground of ineligibility without giving a chance to declarant to explain his case goes against the very object of the scheme of the Act.
Govindrajulu Naidu Vs The Principal Commisioner of Income Tax
(2022) TaxCorp(LJ) 28852 (HC-BOMBAY)
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If sale consideration specified in the agreement is along with certain liability, then the full value of consideration for the purpose of computing capital gains under Section 48 of the Act is the consideration specified in the agreement as reduced by the liability.
Dinesh Vazirani Vs The Principal Commisioner of Income Tax
(2022) TaxCorp(LJ) 28838 (HC-BOMBAY) · Section 264
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Jurisdictional Assessing Officer (JAO) is directed to consider the objections filed by Assessee and pass orders in accordance with law by strictly and diligently following the guidelines laid down by the Court within four weeks.
Tata Capital Financial Services Limited Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28809 (HC-BOMBAY)
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