Bombay High Court held that plea of defect in the notice cannot be accepted as it had caused no prejudice to the assessee and the assessee “clearly understood” what was the purport and import of notice issued under section 274 read with Section 271 of the Act.
The Bombay High Court recently delivered a significant judgment in the case of New India Assurance Company Limited Vs ACIT, reshaping the landscape of tax law.
Bombay High Court held that if an irrelevant matter is not struck off in the notice, it indicates the AO’s uncertainty regarding the basis for imposing the penalty. Such ambiguity implies non-application of mind, rendering the notice invalid.
Final Assessment Order lacked jurisdiction, as it was issued without providing the petitioner with a draft Assessment Order under Section 144B(1)(xvi).
Bombay High Court orders de novo assessment in Pravir Polymers vs. ITO case, citing Rule 46A violation. Get insights on S. 254(2) rectification and due process.
No person should accept any loan or deposit of a sum of Rs.20,000/- or more otherwise than by an account payee cheque or account payee bank draft. Where a person advance cash more than Rs.20,000/- to another person, restriction on cash advances was, in fact, on the taker and not on the person who made an advance.
The respondents contended that the petitioner, being a financial institution under the SARFAESI Act, should exclusively resort to the statutory remedies provided by the Act, and arbitration should not be permissible. This article explores the court’s reasoning and its impact on the dispute resolution landscape.
Bombay High Court rules in favor of taxpayers, affirming the right to interest on excess Equalization Levy refunds. Detailed analysis and implications.
Explore Bombay High Court’s landmark ruling favoring Sinochem India against the Union of India. Analysis of chemical import dispute, court observations, and implications.
Bombay High Court held that an agreement for providing manpower to perform maintenance services is not a contract of sale but is a contract for service under the provisions of the Maharashtra Value Added Tax Act, 2002.
