Search Results for "assessment year 1988-89"

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Search Results for "assessment year 1988-89"

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High Court

Bombay High Court Hears Revenue Appeal on Allowability of Redemption Fine as Business Expenditure Under Section 37 of Income Tax Act. The Appeal Raises the Question Whether Payment of Redemption Fine for Illegal Import of Goods Qualifies as Business Expenditure Under Section 37(1) of the Income Tax Act, 1961.

22 Feb 2019

In this appeal before the Bombay High Court, the Revenue challenged the order of the Income Tax Appellate Tribunal which had allowed a deduction of Rs...

High Court

High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.

7 Sep 2017

The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...

High Court

Bombay High Court Dismisses Revenue's Appeals in Royalty and Advance Tax Case — Payments for Equipment and Spare Parts Not Taxable as Royalty Under Section 9(1)(vi) of Income Tax Act, 1961. No Advance Tax Liability When Entire Income Subject to TDS.

16 Jun 2014

The Revenue filed five appeals under section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribunal (ITAT), Mumb...

High Court

Bombay High Court Allows Writ Petitions Challenging Assessment Orders Under BST Act — Holds That Tribunal's Order Dated 20/01/2015 Has Prospective Effect Only. The assessing authority acted without jurisdiction in passing assessment orders for 2013-14 contrary to the directions of this Court in Writ Petition No. 2217 of 2015.

18 Apr 2019

The petitioners, Reliance Industries Ltd. and Bharat Petroleum Corporation Ltd., filed writ petitions under Article 226 of the Constitution of India c...

High Court

Bombay High Court Dismisses Revenue Appeal in Income Tax Case — Upholds ITAT Order on Deductions for Gift Expenditure, Entertainment Expenses, Debenture Premium, and Investment Allowance. The court held that the assessee's claims were allowable under the Income Tax Act, 1961, and no substantial question of law arose.

25 Mar 2010

The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT). The ...

High Court

Bombay High Court Upholds Tax on Hire Purchase Components Under Bombay Sales Tax Act — Option Money, Insurance, and Hire Premium Included in Sale Price. Hire Purchase Transaction Constitutes a Sale and Resale Deduction Under Section 8 Not Available.

30 Jan 2015

The case involves two sales tax references under the Bombay Sales Tax Act, 1959, arising from the Maharashtra Sales Tax Tribunal. The applicant, M/s. ...

High Court

Bombay High Court Upholds Revenue in Block of Assets Case — Industrial Gala Sale Taxed as Short Term Capital Gain Under Section 50. Non-Use of Asset Does Not Remove It from Block of Assets; Depreciation History Determines Tax Treatment.

29 Sep 2017

The case involves an income tax reference by the Income Tax Appellate Tribunal, Mumbai Bench, at the instance of the assessee, Smt. Meena v. Pamnani, ...

High Court

Bombay High Court Upholds Tribunal's Remand Order in Income Tax Appeal — Scope of Appellate Powers Under Section 254 of Income Tax Act, 1961. The court held that the Income Tax Appellate Tribunal has the power to remand a matter for fresh assessment when the Assessing Officer has not properly considered the assessee's method of accounting and the quantum of on-money.

15 Nov 2016

The case involves an income tax reference and a connected writ petition filed by Parmanand Builders Pvt. Ltd. (the assessee) against the Commissioner ...

High Court

Bombay High Court Allows Revenue Appeal in Income Tax Case — Padma Vilas Palace Held to Be a Building Used as a Hotel. The Court ruled that the structure was a hotel building under Section 2(11) of the Income Tax Act, 1961, and thus the assessee was not entitled to set off under Section 50(2) for reinvestment in office premises.

31 Mar 2010

The appeal by the Revenue challenged the Income Tax Appellate Tribunal's order dated 6th March 2009, which held that Padma Vilas Palace was not a buil...

High Court

Bombay High Court Allows Assessee's Reference, Holds Interest Income as Business Income in Mining Company's Diversification into Money Lending. Amendment of Memorandum and Articles of Association to include banking and money lending, coupled with actual lending activities, established money lending as a business under Section 28 of Income Tax Act, 1961.

8 Mar 2017

The case involves five Income Tax References filed by M/s Central Provinces Manganese Ore Company Limited, Nagpur, against the Commissioner of Income ...

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