Appointment of Chief Justice in Bombay High Court

Office of the Chief Justice of the Bombay High Court has been lying vacant for quite some time, consequent upon retirement of Mrs. Justice Manjula Chellur, Chief Justice of that High Court. Therefore, appointment to that office is required to be made. Mr. Justice N.H. Patil is the senior-most Judge from Bombay High Court and at present is functioning as Acting Chief Justice of that High Court Read More …

Forceful Donations By Co-op Hsg Societies Prohibited | Bombay High Court Judgement

The Society is not expected to indulge into profiteering business from the members and if such amount is earned, then it is taxable under the law. There is no bar for any member to pay donation to the Society, however, it should be voluntary without any compulsion and coercion. No manner the transfer fees can be charged under the pretext of donation Read More …

STT on derivative contracts | Bombay High Court Judgement | CBDT Clarification

CBDT is of the view that where a derivative contract is being settled by physical delivery of shares, the transaction would not be any different from transaction in equity share where the contract is settled by actual delivery or transfer of shares and the rates of STT as applicable to such delivery based equity transactions shall also be applicable to such derivative transaction Read More …

S. 147 Reopening Of Assessment In Audit Objection | Read Latest Bombay High Court Judgement

The question whether an assessment can be reopened under section 147 of the Income-tax Act pursuant to an audit objection was considered in the Bombay High Court’s latest judgement. In Commissioner of Income Tax – 17 Versus Rajan N. Aswani the Bombay High Court noted that in Hindustan Lever (Supra), the Assessee had challenged a reopening notice which was issued beyond a period of four years from the end of relevant Assessment Year. The reasons in support of notice therein did not indicate any failure on the part of the Assessee to fully and truly disclose all material facts Read More …

CBDT Obligation To Disclose RTI Information Explained

The latest judgement of the Delhi High Court in CENTRAL BOARD OF DIRECT TAXES versus SATYA NARAIN SHUKLA explains the law on the obligation of the CBDT to disclose information relating to verification of the affidavits filed by the Members of Parliament (MPs) and Members of Legislative Assembly (MLAs) disclosing their assets to the Election Commission Read More …