A two-judge bench of the Bombay High Court has held that mere reference of the term ‘agency’ in the agreement itself is not conclusive of the relationship between parties for attracting Section 28(ii)(c) of the...
A two-judge bench of the Bombay High Court has held that the non-competent fee received by the assessee from the sale of the business assets was not assessable as profits of business under Section 29(va),...
A division bench of the Bombay High Court has held that an order/ direction passed by the Settlement Commission with retrospective effect is without jurisdiction. The income tax department was aggrieved by the order of...
The Bombay High Court Bench constituting of Justices S.C. Dharmadhikari and B.P. Colabawalla in the case of Pr. Commissioner of Income Tax v. National Health and Education Society affirmed the orders passed by the lower...
The Bombay High Court in the case of Multi Commodity Exchange of India v. DCIT by its Bench constituting of Justices Akil Kureshi and B.P. Colabawalla held that for the assessment years 2010-11 and 2011-12...
A division bench of the Bombay High Court has held that the redemption fine paid to the customs department for violation of law cannot be allowed as business expenditure under Section 37 of the Income...
A two-judge bench of the Bombay High Court has reiterated that the expenses in connection with the reimbursement of salary cannot be disallowed by invoking Section 40(a)(ia) of the Income Tax Act, 1961 on the...
The Bombay High Court has recently held that the amendment to the second proviso to section 40(a)(ia) of the Income Tax has retrospective effect. The two-judge bench, while dismissing a departmental appeal noted that the...
The Bombay High Court has allowed parallel Goods and Services Tax ( GST ) proceedings in two states. This petitioner has challenged an enquiry initiated by The Superintendent of CGST & Central Excise (AE) Mumbai....
A division bench of the Bombay High Court has held that the sale of ‘under construction property’ cannot be regarded as the sale of residential unit fo0r the purpose of denying the benefit of exemption...
A two-judge bench of the Bombay High Court has held that the holding of shares for a short period only will not convert capital gain into business income. Justices M S Sanklecha and Akil Kureshi...
The Bombay High Court in the case of Ricoh India Ltd. v. State of Maharashtra held that the rate of tax applicable on the sale/lease of the multi-functional printers would be 12.5% as opposed to...
The Bombay High Court has held that when the settlement of shares was done by the settler of Trust by way of employee stock option plan and not a direct purchase from the market, then...
The Bombay High Court has recently imposed a fine of 1.50 lakhs on the Deputy Commissioner of Income Tax to pay a cost of Rs. 1.5 Lakhs for not granting refund by raising a wrong...
A two-judge bench of the Bombay High Court has directed the State Government to constitute a high-level committee to study the issues and to grant relief to the entertainment sector after the entertainment tax benefits...
The year 2018 has been a very significant one to the taxation regime due to some important reforms in the laws and procedures. The contribution of the judiciary including the Supreme Court and various High...
The Government had spent a total of Rs. 1.13 crore to celebrate the first GST Day on 1st July 2018, an agency under the Ministry of Information and Broadcasting said while replying to an RTI...
While granting relief to the Micromax Informatics Limited, a division bench of the Bombay High Court held that refund cannot be denied merely because the assessment orders were not challenged by the assessee. Petitioner Company...
The Government has appointed Former Bombay High Court Judge Justice MT Joshi as the Judicial Member of Securities Appellate Tribunal ( SAT ). In a Cabinet, the note stated that “The Appointments Committee of the...
The Bombay High Court, in the case of L & T Finance Ltd. v. DCIT, held that a new contention which was not raised before the lower forums does not constitute a ‘substantial question of...
The division bench of the Bombay High Court has upheld the Constitutional validity of Maharashtra Tax on Lotteries Act, 2006 which levies tax on sale of lottery tickets in the state. The company Sri Mangal Murty Marketing, which...
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