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Supreme Court Partially Allows Appeals in Income Tax Case Due to Interest on Borrowings for Capital Assets. Interest on Borrowings for Capital Assets Permitted as Deduction Under Section 36(1)(iii) of Income-tax Act, 1961....

The Supreme Court addressed appeals filed by the Deputy Commissioner of Income Tax against M/s. Core Health Care Ltd. concerning the disallowance of interest on borrowings for capital assets not put t...

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Supreme Court Dismisses Income Tax Department Appeal on Interest Deduction for Unused Assets. Court held that interest on borrowings for capital assets not in use is not an allowable deduction under Section 36(1)(iii) of the Income-tax Act, 1961....

The case involved an appeal by the Commissioner of Income Tax, Baroda against Ishwar Bhuvan Hotels Ltd. regarding the deductibility of interest paid on borrowings for capital assets that were not util...

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Supreme Court Dismisses Income Tax Department's Appeals on Deductibility of Charges Due to Revenue Nature. Commitment and Finance Charges Found Deductible as Revenue Expenditures Under Section 37 of the Income-tax Act, 1961....

The Supreme Court addressed two civil appeals filed by the Income Tax Department against the Gujarat High Court's decision regarding the deductibility of certain charges under the Income-tax Act, 1961...

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Supreme Court Dismisses State's Appeal Against Tax Assessment Reopening. The Board of Revenue's Circular No. 16/98 was upheld as valid, treating field latex and centrifuged latex as the same commodity for tax purposes under the Kerala General Sales Tax Act, 1963....

The dispute arose between the State of Kerala and M/s Kurian Abraham Pvt. Ltd. regarding the tax treatment of field latex and centrifuged latex under the Kerala General Sales Tax Act, 1963 and the Cen...

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Supreme Court Allows Assessee in Sales Tax Exemption Case Due to Misinterpretation of Notifications. High Court's Dismissal Found Erroneous as it Failed to Address Legal Questions on Exemption Claims under Kerala General Sales Tax Act, 1963....

The case involved M/s Padinjarekara Agencies Limited, which filed civil appeals against a common judgment of the High Court of Kerala that dismissed their revisions regarding sales tax exemptions. The...

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Supreme Court Partly Allows Appeal in Income Tax Case Addressing Interest and Depreciation Issues. The court resolved the deductibility of interest on borrowings for unused capital assets and remitted the question of partial depreciation to the High Court for further consideration....

The case involved an appeal by the Jt. Commissioner of Income Tax against M/s. United Phosphorous Ltd concerning two significant questions of law related to the Income-tax Act, 1961. The first questio...

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Supreme Court Dismisses Income Tax Department Appeal on Interest Deduction for Unused Capital Assets. The court ruled that interest on borrowings for capital assets not utilized in the financial year is not an allowable deduction under Section 36(1)(iii) of the Income-tax Act, 1961....

The case involved an appeal by the Assistant Commissioner of Income Tax, Ahmedabad against Arvind Polycot Ltd regarding the deductibility of interest on borrowings for capital assets that were not put...

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Supreme Court Partially Allows Appeals in Income Tax Case — Clarifies Deductibility of Interest on Borrowings. The court held that interest on borrowings for capital assets is deductible even if not put to use, and remitted substantial questions of law back to the High Court for consideration....

The case involved appeals filed by the Deputy Commissioner of Income Tax against M/s. Core Health Care Ltd. concerning the deductibility of interest on borrowings for capital assets not yet put to use...

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Supreme Court Dismisses Income Tax Department Appeal on Interest Deduction for Unused Capital Assets. Court affirmed that interest on borrowings for capital assets not in use is not deductible under Section 36(1)(iii) of the Income-tax Act, 1961....

The case involved an appeal by the Commissioner of Income Tax, Baroda against Ishwar Bhuvan Hotels Ltd. regarding the deductibility of interest paid on borrowings for capital assets that were not put ...

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Supreme Court Dismisses Appeal Against Removal from Service Due to Procedural Lapses. The appellate authority failed to provide reasons for its decision, violating mandatory procedural requirements under the Andhra Pradesh Civil Services Rules....

The dispute arose from disciplinary proceedings against a Forester, who was accused of embezzlement of government funds during his service. The Divisional Forest Officer imposed a punishment of stoppi...