Delhi High Court

Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

The Delhi High Court has held that income tax additions made towards unsubstantiated share capital are eligible for deduction under Section 80-IC of the Income Tax Act.

Delhi High Court Quashes Initiation Of Section 153C Assessment Proceedings Falling Beyond Maximum 10 Years Block Period

The Delhi High Court has quashed the initiation of assessment proceedings under Section 153C of the Income Tax Act, which was falling beyond the maximum 10-year block period.

Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value (FMV) of shares under Section 56(2)(viib) of the Income Tax Act, 1961.

Bombay High Court

Revenue Officers Bound By Decisions Of Appellate Authorities While Disposing Quasi-Judicial Issues: Bombay High Court

The Bombay High Court has held that the revenue officers are bound by the decisions of appellate authorities while disposing of quasi-judicial issues.

Retrospective Legislation Can't Affect Vested Rights Of Assessee: Bombay High Court

Case Title: Senapati Santaji Ghorpade Sugar Factory Versus Assistant Commissioner of Income Tax

The Bombay High Court has held that retrospective legislation cannot affect the vested rights of the assessee.

Kerala High Court

Writ Petition Challenging Orders Of Tamil Nadu Assessing Authority Not Maintainable Merely For Having A Bank Account In Kerala: Kerala High Court

The Kerala High Court has held that the writ petition challenging orders of Tamil Nadu assessing authority is not maintainable merely for having a bank account in Kerala.

Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court

The Kerala High Court has held that assessments can be reopened based on audit objections under a new reassessment regime.

Affording Personal Hearing Is Mandatory In An Enquiry Under Section 148A(B) Of Income Tax Act: Kerala High Court

The Kerala High Court has held that affording a personal hearing to the assessee is mandatory in an inquiry under Section 148A(b) of the Income Tax Act.

Land Used For Agricultural Purposes Yielding Agricultural Income Is Exempted From Income Tax: Kerala High Court

The Kerala High Court has held that the land in question was used for agricultural purposes, which yielded agricultural income, which in turn was exempt from income tax under Section 10(1) of the Income Tax Act.

Andhra Pradesh High Court

Andhra Pradesh High Court Directs Municipal Corporation To Decide Representation On Waiver Of Interest On Property Tax Arrears

Case Title: S.v.v.estates (swarna Palace) Versus The State Of Andhra Pradesh and Others

The Andhra Pradesh High Court, while restraining the Municipal Corporation from taking coercive steps against the petitioner, directed the corporation to decide representation on a waiver of interest on property tax arrears.

Consideration Received By Trustees For Relinquishment Of Trusteeship Cannot Be Treated As Capital Receipt: Kerala High Court

Case Title: The Principal Commissioner Of Income Tax Versus Gracy Babu

The Kerala High Court has held that consideration received by trustees for such relinquishment of trusteeship cannot be treated as a capital receipt for the purposes of assessing it under the head of capital gains; the consideration will have to be treated as the individual income of the assessees and assessed accordingly under the appropriate head.

Jammu & Kashmir High Court

Leasehold Interest In Land Is An Asset Of Company And Is Capable Of Valuation: Jammu & Kashmir High Court

Case Title: Principal Commissioner of Income Tax Versus Dr. Karan Singh

The Jammu & Kashmir High Court has held that leasehold interest in the land is an asset of the company and is capable of valuation.

Assessees Not Expected To Keep Open Dept's E-Portal Of All The Time To Track Actions Of Dept.: Punjab & Haryana High Court

Case Title: Munjal BCU Centre Of Innovation And Entrepreneurship, Ludhiana Versus Commissioner Of Income Tax Exemptions, Chandigarh

The Punjab and Haryana High Court has held that the assessee is not expected to keep the e-portal of the department open all the time so as to have knowledge of what the department is supposed to be doing.