High Court allows Mahindra & Mahindra’s appeal for AY 1990-91, permitting business loss write-off and limiting AO power on MAT book profit scrutiny.
Bombay HC directs refund adjusted against demand, rules adjustment illegal as 20% paid & appeal pending, citing CBDT circulars & court precedent.
Bombay HC examines Coca-Cola’s challenge to a GST demand regarding sales discounts. Court grants interim stay, questioning revenue’s interpretation of GST valuation rules.
Bombay High Court stays ₹133 crore GST penalty on Shemaroo Entertainment executives, citing concerns over retrospective law application.
Bombay High Court rules that Section 50C of the Income Tax Act applies to the transfer of capital assets held under leasehold rights.
Bombay High Court held the reopening of assessment initiated on the basis of subsequent information justified as based on such information transaction was prima facie found to be undisclosed funds routed through various tax havens companies.
Bombay High Court tells Payu Payments to respond to DGGI tax show cause notice, reinforcing legal principle of exhausting alternate remedies first.
Bombay High Court held that mere delay in filing application for recall or review, not involving latches, acquiescence or estoppel, would not prevent this Court from exercising inherent power of recalling its order.
Bombay High Court held that initiation of reassessment proceedings under section 147 of the Income Tax Act resulting into change of opinion and review of the assessment order is not permissible in law. Accordingly, reassessment proceedings are liable to be quashed.
Bombay High Court allows condonation of delay in filing income tax returns. The delay was due to the ill health of the Chartered Accountant’s spouse, a genuine reason.
