Bombay High Court rules Rediff.Com can deduct expenses for abandoned capital work-in-progress, affirming ITAT’s decision based on revenue expenditure classification.
Bombay High Court grants interim stay on a GST order, raising arguable questions on whether transfer of development rights under revenue sharing is a taxable “supply of services.”
Bombay High Court rules against denying Cash Compensatory Scheme benefits for Castor Oil exports, stating a technical test change does not alter the product’s nature or eligibility.
Bombay High Court set aside reopening of Genesys International’s AY 2015-16 tax assessment, ruling it a mere change of opinion and citing full disclosure.
Bombay High Court condones delay in Form-10 filing for a charitable trust, citing pandemic impact, past compliance, and no mala fide intent.
Bombay High Court directs firm to pursue tax assessment remedies, declining to quash search notices over factual disputes
In our view, the Assessing Officer grossly erred in doing so. The Assessing Officer ignored the fact that the said amount was not debt payable by the Assessee but the same was debt receivable by it. Therefore, the amount did not represent liability of the Assessee but in fact was its asset.
Bombay High Court held that revocation of courier licence justified on account of non-compliance with the obligations under Regulations 13(a), 13(i), and 13(g) of the Courier Imports And Exports (Clearance) Regulations, 1998. Accordingly, writ petition dismissed.
Therefore, the amount distributed by it to the Petitioner would not qualify as exempt dividend income under Section 10(34) of the Act. This to our mind would be merely a “change of opinion”.
Bombay High Court rejects Revenue’s appeal against Tata Chemicals Ltd for AY 2000-01, citing consistent rulings on advertisement, VRS, and project expenditure.
