![Income Tax Deduction on Excise Duty does not Amount to Double Deduction: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Bombay-High-Court-Income-Tax-Income-Tax-Deduction-taxscan.jpg "Income Tax Deduction on Excise Duty does not Amount to Double Deduction: Bombay HC [Read Order]")
Income Tax Deduction on Excise Duty does not Amount to Double Deduction: Bombay HC [Read Order]
The Bombay High Court in a recent decision observed that the income tax deduction on excise duty does not amount to double deduction. The Income...
![Change of Opinion is not reason to believe that Income chargeable to tax has escaped Assessment u/s 143(3) of Income tax act: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Change-of-Opinion-Income-chargeable-tax-Assessment-Income-Tax-Act-Bombay-HC-taxscan.jpeg "Change of Opinion is not reason to believe that Income chargeable to tax has escaped Assessment u/s 143(3) of Income tax act: Bombay HC [Read Order]")
Reassessment Proceedings Alleging Escapement of Income on transfer of Leasehold Right: Bombay HC sets aside Order as tax already paid [Read Order]
The Bombay High Court set aside the reassessment proceedings alleging escapement of income on the transfer of leasehold rights. Peoples Education Society Thane, the petitioner is a charitable...
Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]
The Bombay High Court, has invalidated income tax assessments and subsequent proceedings for the assessment year 2016-2017 against agriculturists and rickshaw drivers due to improper sanction. The...
![Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Agriculturist-Auto-Driver-Bombay-High-Court-Assessment-Order-tax-assessments-improper-sanction-taxscan.jpg "Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]")
Interim Relief to Paypal: Bombay HC stays Rs. 32.39 Crore time barred Income Tax Demand [Read Order]
The Bombay High Court has issued an ad-interim order, staying the enforcement of a substantial tax demand amounting to Rs. 32.39 crore and all associated proceedings against PayPal Payments Private...
Retirement amount received by partner through Arbitration Proceedings from partnership firm is not chargeable to tax: Bombay HC quashes Reassessment Proceedings [Read Order]
In a recent case, the Bombay High Court, while quashing the reassessment proceedings, held that the retirement amount received by the partner through arbitration proceedings from the partnership firm...
Relief to Vodafone Idea: Bombay HC directs Refund of Prepaid Taxes of Rs. 1128.47 crores; Quashes FAO's Time-barred Order [Read Order]
Vodafone Idea has received relief from the Bombay High Court, which has instructed the Income Tax authorities to reimburse the prepaid taxes amounting to Rs. 1128.47 crores. Additionally, the court...
Inordinate Delay of 19 years for professional Misconduct Proceedings by ICAI Council: Bombay HC quashes Removal of CA [Read Order]
The Bombay High Court has quashed the removal of Chartered Accountants (CA) as there was an inordinate delay of 19 years for professional misconduct proceedings by the council of...
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]
The Bombay High Court has held that only the profit element of a bogus purchase can be added to taxable income under the Income Tax Act, 1961 when the assessee reconciled the stock. The appellant...
![Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Profit-Element-of-Bogus-Purchase-Bogus-Purchase-Income-Tax-Act-Bombay-High-Court-Assessee-Taxable-Income-Under-Income-Tax-Act-Taxscan.jpg "Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]")