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"Bombay High Court Rules on Deemed Registration of Trusts Under Income Tax Act" "Trust's registration deemed granted due to CIT's delayed response."

The Bombay High Court ruled that the Respondent was entitled to a deemed registration under the Income Tax Act (Section 12AA) due to the failure of t...

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Income Tax Assessment of Rental Income for Leasing Companies: A Judicial Review. Evaluating the Taxable Nature of Leasing Income: Business Gains or House Property Income?

The Bombay High Court evaluated whether rental income from leasing properties should be classified as "Income from House Property" or "Income from Bus...

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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Supreme Court Enhances Compensation for Motor Accident Victim to ₹52,31,000/- Considering 100% Functional Disability and Future Prospects. The Court increased the compensation from ₹30,99,873/- to ₹52,31,000/- due to the appellant's 100% functional disability and future medical and attendant needs.

This judgment arises from a Special Leave Petition (SLP) where the appellant, a victim of a motor vehicle accident, sought enhancement of compensation...

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A Judicial Analysis of Bogus Purchases and Disallowances.

The Bombay High Court addressed three income tax appeals filed by Appellant challenging the findings of the Income Tax Appellate Tribunal (ITAT) and t...

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High Court Upholds Exemption for Shirdi Sai Baba Trust's Anonymous Donations Religious and Charitable Trust Entitled to Tax Exemption Under Section 115BBC(2)(b)

The Bombay High Court, involves the appeals by the Commissioner of Income Tax (CIT) challenging the Income Tax Appellate Tribunal's (ITAT) decision in...

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Reassessment Notices Under Income Tax Act Amid COVID-19 Extensions. An analysis of the interplay between the Income Tax Act, TOLA, and the Finance Act 2021 regarding reassessment notices issued during the pandemic.

The reassessment notices under Sections 147-151 of the Income Tax Act, impacted by the Taxation and Other Laws (Relaxation and Amendment of Certain Pr...

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High Court Upholds Tribunal's Award: Enhanced Compensation for Auto-Rickshaw Accident Victims. Aurangabad Bench holds insurance company liable, rejects appeal seeking reduction in compensation.

The Bombay High Court, Aurangabad Bench, dismissed the appeal of the insurance company challenging the Motor Accident Claims Tribunal's (MACT) award. ...

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Sealed Cover Procedure in Promotions: Supreme Court Dismisses Appeal of Union of India against Income Tax Officer. The Supreme Court holds that a mere grant of prosecution sanction does not justify invoking the sealed cover procedure for promotion in the absence of a pending charge sheet.

The Supreme Court, in this case, addressed the issue of whether the mere grant of prosecution sanction is sufficient to withhold promotion under the s...