narcotics case
Posted inNews

Bombay High Court Quashes Income Tax Reassessment Against Bharat Petroleum Corporation Limited for Alleged Wrong Dividend Exemption, Holding No Failure to Disclose Material Facts and Reopening Beyond Limitation is Invalid Under First Proviso to Reassessment Powers

Court’s Decision The Bombay High Court quashed reassessment notices and orders issued against Bharat Petroleum Corporation Limited for Assessment Years 2013-14 and 2014-15, holding that the Income Tax Department could…
July 6, 2025
cash transactions
Posted inNews

Calcutta High Court Stays Income Tax Penalty Orders for Alleged Cash Transaction Violations, Holding “No Penalty Can Be Levied Without Prior Satisfaction of Assessing Officer Recorded in Assessment Orders” While Considering Prima Facie Illegality in Absence of Statutory Compliance

Court’s Decision The Calcutta High Court granted an interim stay on penalty orders issued under Sections 271D, 271DA, and 271E of the Income Tax Act, 1961 against the petitioners, observing…
June 29, 2025