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Bombay High Court
Including Capital Gains within Scope of Income: A Short Note from Tax History
Provisions to tax capital gains in India’s income tax law were first included in 1947. The Act XII(22) of 1947, amended Income Tax Act, 1922 (‘IT Act, 1922’) – predecessor to India’s current income tax… Read More »Including Capital Gains within Scope of Income: A Short Note from Tax History
Portuguese Civil Code, Income Tax, and Companies Act: Understanding Beneficial Ownership
The Bombay High Court, in a recent judgment, had to unravel the interplay of Portuguese Civil Code, IT Act, 1961, and the Companies Act, 1956 – among other issues – to ascertain the tax liability of… Read More »Portuguese Civil Code, Income Tax, and Companies Act: Understanding Beneficial Ownership
Appellate Authority Ignored CBIC’s Circular: Bombay HC
In a recent decision[1] the Bombay High Court expressed surprise that the appellate authority ignored CBIC’s Circular while ordering the assessee to pay back the Input Tax Credit (‘ITC’) refund granted to it along with interest.… Read More »Appellate Authority Ignored CBIC’s Circular: Bombay HC
Bombay High Court Adopts ‘Purposive Interpretation’: Permits Rectification of GSTR-1
In a recent decision[1], the Bombay High Court permitted the petitioner to rectify their GSTR-1 despite even though statutory deadline for rectification of such return had expired. The High Court cited the relevant provisions –… Read More »Bombay High Court Adopts ‘Purposive Interpretation’: Permits Rectification of GSTR-1
Bombay High Court Decides a ‘Peculiar Case’: Orders Refund of Tax Paid Under Protest
The Bombay High Court recently adjudicated a case[1] it termed as ‘peculiar’ and ordered that the Revenue Department should refund the tax paid by petitioner under protest. The High Court invoked the doctrine of unjust enrichment… Read More »Bombay High Court Decides a ‘Peculiar Case’: Orders Refund of Tax Paid Under Protest
Bombay High Court Upholds Amendment to Definition of Income under IT Act, 1961
In a significant decision[1], the Bombay High Court upheld the amendment made to definition of income in Income Tax Act, 1961 (IT Act, 1961) via which all forms of subsidy granted by the Central or… Read More »Bombay High Court Upholds Amendment to Definition of Income under IT Act, 1961
Tea is an Agricultural Produce: Bombay High Court Rules
In a recent decision[1], the Bombay High Court ruled that tea qualifies as an agricultural produce warehousing services in relation to it are exempt from GST as specified in Notification No. 12 of 2017. The… Read More »Tea is an Agricultural Produce: Bombay High Court Rules
Bombay High Court Orders Refund of TDS: Opines on Illegal Tax
In a recent judgment[1], the Bombay High Court ordered the Revenue Department to return the tax deposited by the assessee and opined that retaining tax that was not owed by the assessee in the first… Read More »Bombay High Court Orders Refund of TDS: Opines on Illegal Tax