Analysis of the Bombay High Court ruling on reopening income tax assessments for Aroni Commercials Ltd. under Section 148 of the IT Act, 1961.
The Bombay High Court ruled that reopening assessments under Section 148 based on audit objections without independent reasoning is invalid. Learn more about the case.
Bombay HC rules against reopening DCW Limited’s assessment under Section 148. No income escape as full disclosure was made in assessment proceedings.
Bombay HC clarifies that rebate under Section 87A can be adjudicated during assessment, not restricted at the threshold based on Section 115BAC tax calculation.
Bombay High Court quashes GST order for improper notice service to an incorrect address, remanding the case for re-adjudication.
Revenue cannot compel Assessee to spread upfront fees and brokerage fees for issuing non-convertible debentures over two years for which non-convertible debentures were issued
Bombay High Court dismisses petition challenging case transfer of Laxminath Investment to Delhi under Section 127(2), citing valid reasons and procedural compliance.
Bombay High Court invalidates reopening notice and assessment order against Jayant Avinash Dave, citing procedural lapses and unreasonable decision-making.
Bombay High Court held that once it is established that there is no cheating involved under the IPC then there is no proceeds of crime involved u/s. 2(1)(u) of PMLA and therefore there is no Money Laundering involved under Section 3 of PMLA in the present case.
Bombay High Court upholds reassessment in a tax case, citing new evidence of undisclosed income and unverified transactions, allowing further challenges in appeal.
