Bombay High Court

Procedural rules cannot be ignored even if litigant is Government/ Revenue and Revenue should not follow tendency of blaming Advocate or procedural rules for dismissal of appeal

CIT Vs. M/s. Parle Bisleri Ltd. (Bombay High Court)

Bombay High Court held in the case of CIT Vs. M/s. Parle Bisleri Ltd. that Procedural rules cannot be ignored even litigant is Government/ Revenue and Revenue should not follow tendency of blaming Advocate or procedural rules for dismissal of appeal...

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Assessee cannot be allowed to take advantage of his own wrong: HC

Shri. Arunkumar J. Muchhala Vs The Commissioner of Income- ­Tax- 8 (Bombay High Court)

S. 68: Argument that the assessee did not maintain books of account and so s. 68 will not apply is not acceptable. It is incumbent on every assessee doing business to maintain proper books of account. It may be in any form. If the assessee has not done so, he cannot be allowed to take advantage of his own wrong. Burden lies on the assesse...

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Bombay HC on promotion or Increase in salary in a private Establishment

M/s. Lokmat Newspapers Private Vs Motiram s/o Mahadeorao Dhoble (Bombay High Court)

Promotion or Increase in salary in a private Establishment is a managerial Function and cannot be claimed to be a condition of service in the Absence of any such policy : High court of Bombay...

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Assessee’s submission in arriving at the ALP is not final, It is for TPO to examine and find out companies listed as comparables

CIT Vs M/s. Tata Power Solar Systems Ltd. (Bombay High Court)

We find that the impugned order of the Tribunal holding that a party is not barred in law from withdrawing from its list of comparables, a company, if the same is found to have been included on account of mistake as on facts, it is not comparable. The Transfer Pricing Mechanism requires comparability analysis to be done b...

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Taxability of Interest on interim compensation received pending final disposal by HC

Smt. Premlata Purshottam Paldiwal Vs CIT, (Bombay High Court- Nagpur Bench)

Bombay High Court held that Interest on interim compensation received pending final disposal by the High Court is income if there is no direction given by the Court.  The source of funds to earn income cannot determine the taxability of the income earned on the capital amount which has been invested. This in the absence […]...

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Sec. 194J TDS not deductible on Payments for SMS Services

CIT (TDS) Vs Bajaj Allianze Life Insurance Co. Ltd. (Bombay High Court)

1. These appeals pertain to Assessment Years 2007-­08 and 2008­-09. 2. Mr. Singh, learned Counsel for the appellant submits that the Tribunal was not justified in law to hold that the provisions of Section 194J is not applicable in respect of the payments made to M/s. Valuefirst Messaging Pvt. Ltd. for providing SMS services as [&hellip...

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Assessee cannot claim to be under reasonable belief of Income Exemption after paying Tax on the same for 40 Years

Trustee of Saurashtra Trust Vs The Directors of Income Tax (Exemption) (Bombay High Court)

On allowing appeals by the Revenue and / or rejection of Cross Objections filed by the assessee, the assessee moved an application seeking reference of following two questions of law for decision of this court...

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Assessee can raise additional claim at Appellate stage without filing Revised Return

CIT Vs Mukund Bhawan Trust (Bombay High Court)

Assessee is entitled to raise not merely additional legal submissions before the Appellate Authorities but is also entitled to raise additional claims. The Appellate Authorities have jurisdiction to deal with additional grounds, which were available when the return was filed....

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Tenant can claim depreciation in respect of expense on leased premises

The Commissioner of Income Tax Central­- III V/s. M/s. Urban Infrastructure Venture Capital Ltd. (Bombay High Court)

A division bench of the Bombay High Court in CIT Vs. M/s.Urban Infrastructure Venture Capital Ltd has allowed a tenants’ claim for depreciation towards capital expenditure incurred on the leased premises....

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Expense on payment of guarantee commission is revenue expenditure

Bajaj Tempo Ltd. Vs The Commissioner of Income Tax (Bombay High Court)

The only question is whether the guarantee commission paid to the bankers for securing timely repayment of credit facility and loan from financial institutions for the purpose of machinery and equipments is revenue expenditure. The Division Bench of this Court in case of Kinetic Engineering Ltd (supra) was dealing precisely with the said ...

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