1 month ago
Bombay High Court Upholds Aurum Ventures Tax Relief
A company called Aurum Ventures had its taxes checked by the government.
The government tried to add more taxes after a search in 2018, but the court said they could only do that if they found evidence that the company was hiding something.
The court looked at the documents and said nothing was hidden.
So the company keeps the money it already paid.
The court also said that once a tax decision is final, it can’t be changed unless new evidence is found.
This means Aurum won the case and the government’s extra tax claims were dropped.
Bombay High Court dismissed Income Tax Department appeals against Aurum Ventures.
Court upheld ITAT ruling favoring Aurum for 2015‑16 and 2016‑17 assessments.
Court held completed assessments cannot be reopened unless incriminating material is found during search.
Search in March 2018 under Section 132 led to additions treating flat sale proceeds as business income.
Court found no incriminating material; interest expense disallowance unsupported.
- Who
- Aurum Ventures Pvt Ltd, Income Tax Department, Bombay High Court
- What
- Court upheld tax relief for Aurum and dismissed appeals
- Where
- Mumbai, India
- When
- Recent decision following a March 2018 search
- Why
- Completed assessments cannot be reopened without incriminating material
Key facts
- Company
- Aurum Ventures Pvt Ltd
- Court
- Bombay High Court
- Assessment Years
- 2015-16, 2016-17
- Decision
- Upheld ITAT ruling, dismissed appeals
- Reason
- No incriminating material found during search









