Bombay High Court

Date of acquisition of capital asset is date of allotment letter

Pr.Commissioner  of Income Tax­-3 Vs Vembu Vaidyanathan (Bombay High Court)

PCIT Vs Vembu Vaidyanathan (Bombay High Court) The controversy between the assessee and the revenue revolves around the question as to when the assessee can be stated to have acquired the capital asset. The assessee argued that the residential unit in question was acquired on the date on which the allotment letter was issued by the [&hel...

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Amendment to Section 40(a)(ia) has Retrospective Effect

Perfect Circle India Pvt Ltd Vs Pr. Commissioner of Income Tax (Bombay High Court)

Perfect Circle India Pvt Ltd Vs Pr. CIT (Bombay High Court) The Revenue would content that the benefit of this proviso would be available to the assessee only prospectively w.e.f. 1.4.2013. Various Courts, however, have seen this proviso as beneficial to the assessee and curative in nature. The leading judgment on this point was of [&hell...

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Making incorrect claim in law would not by itself make assessee liable to penalty U/s. 271(1)(c)

CIT Vs L & T Finance Ltd. (Bombay High Court)

Making of incorrect claim in law would not by itself amount to concealment of income or giving inaccurate particulars of income. Since revenue had not been able to show even remotely that there was any concealment of income or filing of inaccurate particulars of income, appeal was to be dismissed....

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ITAT should give independent reasons showing consideration of submissions by assessee

Cheryl J. Patel Vs The Assistant Commissioner of Income Tax (Bombay High Court)

Cheryl J. Patel Vs ACIT (Bombay High Court) While discussing various issues, the Tribunal has not given any independent reasons showing consideration of the submissions made on behalf of the assessee. We are conscious of the fact that an appellate order which affirms the order of the lower authority need not be a very detailed […]...

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Entertainment Tax Benefits under GST- Constitute expert committee to examine grievance: HC

Adlabs Entertainment Limited Vs Union of India & Ors. (Bombay High Court)

Adlabs Entertainment Limited Vs Union of India & Ors. (Bombay High Court) Facts : The Assessee-company, set up a theme park and a water park. As part of State Govt policy, it was offered incentives such as waiver of entertainment tax, since the Assessee was heavily investing capital. Moreover, such waiver gave an advantage to [&hellip...

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Disallowance of purchases in cash justified when banking channels were available

Madhav Govind Dhulshete Vs ITO (Bombay High Court)

Madhav Govind Dhulshete Vs ITO (Bombay High Court) Section 40A is inserted in Income Tax Act with an aim and object to discourage payment of money in cash beyond a certain limit. That is to encourage cheque transactions and banking operations. Thus, in these circumstances, Assessing Officer is correct in making disallowance of  Rs. 36,16...

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Transfer not completes on Mere registration of agreement for sale of property

PR. CIT Vs M/s. Talwalkars Fitness Club (Bombay High Court)

The Pr. CIT Vs M/s. Talwalkars Fitness Club (Bombay High Court) Mere fact that an agreement for sale of property is registered does not make it a conveyance. The sale or transfer U/s. 2(47) of Income Tax Act, 1961  not completes on the date of the execution of the agreement if there are obligations to […]...

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Bombay HC allows Parellel GST Proceedings in Two States 

Shafi Khan Khokhar Vs State of Maharashtra & Ors. (Bombay High Court)

Shafi Khan Khokhar Vs State of Maharashtra & Ors. (Bombay High Court) High Court upholds jurisdiction of Mumbai CGST Commissionerate even in case where parallel proceedings were commenced in Jaipur Facts: During the period of dispute, the assessee, an individual, was subjected to enquiry proceedings under CGST Act, initiated by the Co...

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ITAT should not remand an issue to TPO which can be considered at its end

Sony Pictures Networks India Pvt Ltd Vs ITAT, Mumbai & Ors. (Bombay High Court)

Sony Pictures Networks India appeal: By not dealing with an issue which is otherwise ripe for consideration and instead remanding to the TPO, the Tribunal ensures further litigation and continued uncertainty for both the Revenue and the assessee, non-consideration of the basic submission made at the hearing as recorded, is clearly a mista...

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File tax appeals before the bench allotted to district where dispute arose

Dixons Cargo Consolidators Pvt. Ltd. Vs Commissioner of Customs (High Court Bombay)

Dixons Cargo Consolidators Pvt. Ltd. Vs Commissioner Of Customs (High Court Bombay) The impugned orders passed by the Tribunal in excise appeals before us relate to and arise out of disputes relating to manufacture of excisable goods which have taken place at Nagpur. Therefore, the Excise Appeal Nos. 28 of 2017 and 105 of 2017 before [&h...

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