Bombay High Court

Delay in depositing tax under IDS, 2016 for personal reasons cannot be condoned

Sadhana R. Jain Vs CeBDT & Anr. (Bombay High Court)

Sadhana R. Jain Vs CBDT & Anr (Bombay High Court) Reading of the  CBDT Circular dt. 28-3-2017, it would clearly emerge that while providing for a limited window, in cases where payments were made through banking channels but the deposit was made by the bank in the Government revenue few days after 30-11-2016 to condone […]...

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Depreciation Vs. Actual cost: Government subsidy for setting up new industry

Pr. CIT Vs M/s. Welspun Steel Ltd. (Bombay High Court)

Pr. CIT Vs M/s. Welspun Steel Ltd. (Bombay High Court) If Government subsidy was intended as an incentive to encourage entrepreneurs to move to backward areas and establish industries. In such a case, specified percentage of the fixed capital cost, which was the basis for determining the subsidy, would be granted. The Court held that, [&h...

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Section 14A disallowance when Expenditure incurred against earning of exempted income disallowed voluntarily by Assessee

Pr. CIT Vs M/s. Lee & Murihead Pvt Ltd (Bombay High Court)

Pr. CIT Vs M/s. Lee & Murihead Pvt Ltd (Bombay High Court) Sub-section (2) of section 14A of Income Tax Act, 1961  provides that Assessing Officer would determine the amount of expenditure incurred in relation to income which not forms part of total income if he is not satisfied with the correctness of claim of […]...

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Section 80IB deduction cannot be allowed if not claimed by assessee in return filed by him

EBR Enterprises & Anr. Vs Union of India and Anr. (Bombay High Court)

EBR Enterprises Vs Union of India (Bombay High Court) Sub Section (5) of Section 80A of the Act mandates is that, if the assessee fails to make a claim in his return of income for any deduction under the provisions specified therein, the same would not be granted to the assessee. This condition or restriction […]...

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Bogus Share Capital- Onus is on assessee to prove genuineness of transaction

M/s. Royal Rich Developers Pvt. Ltd. Vs Pr. CIT (Bombay High Court)

M/s. Royal Rich Developers Pvt. Ltd. Vs Pr. CIT (Bombay High Court) The Assessing Officer recorded that there was no reason for high premium of Rs.30 per share being paid by the investors. The assessee company had carried out no business during the entire period, except for collection of share application money. The responding investors [...

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Profit embedded in purchases covered by bogus bills only can be taxed

Pr. CIT Vs M/s. Paramshakti Distributors Pvt. Ltd. (Bombay High Court)

Tribunal applied the principle of taxing the profit embedded in such purchases covered by the bogus bills, instead of disallowing the entire expenditure....

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Curtailment of incentives under Package Scheme of Incentives due to introduction of GST

M/s K. M. Refineries  and Infraspace  Pvt. Ltd. Vs. State of Maharashtra (Bombay High Court, Nagpur Bench)

The Respondents are directed to implement the Incentive Scheme as amended up-to-date with a discretion to modify the scheme so as to bring it in line with the new tax structure under the General Sales Tax scheme, but without reducing or restricting the benefits as conferred upon the Petitioner under the Incentive Scheme within a period of...

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Section 80IA Value of electricity provided to sister concerns generated in assessee’s own captive plant

Commissioner of  Income Tax-­LTU Vs M/s Reliance  Industries Ltd. (Bombay High Court)

CIT- LTU Vs M/s. Reliance Industries Ltd. (Bombay High Court) Assessee provided electricity generated by its captive power generating plant to its another units, then while computing deduction under section 80-IA of Income Tax Act, 1961, the value of electricity provided to another unit was to be at the rate for which electricity distribu...

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Non receipt of consideration is no ground for lifting pre-deposit requirement

Smt. Kalpana Ashwin Shah Vs ACIT and Ors. (Bombay High Court)

Smt. Kalpana Ashwin Shah Vs ACIT and Ors. (Bombay High Court) 1. The Petitioner has challenged the orders passed by the Assessing Officer as well as the Commissioner of Income Tax, requiring the Petitioner to deposit 20% of the disputed tax pending Appeal against the order of the assessment subject to which the remaining recovery [&hellip...

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HC allowed dept to conduct Service Tax Audit post GST implementation

Ess Infraproject Private Limited Vs Union of India (Bombay High Court)

Ess Infraproject Private Limited Vs Union of India (Bombay High Court) The issue of the saving of Rule 5A(2) of Service Tax Rules, 1992 on introduction of CGST Act, 2017 is an issue that requires detailed consideration. This would be appropriately done at the final hearing. Thus, granting of interim relief at this stage would […]...

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