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Bombay High Court Allows Writ Petition of Charitable Trust Against Rejection of Condonation of Delay in Filing Form 9A Under Section 119(2)(b) of Income Tax Act, 1961. CBDT Circulars Must Be Liberally Construed to Grant Relief When Delay Is Due to Change in Procedure from Manual to Electronic Filing.

The petitioner, Nav Chetna Charitable Trust, is a trust registered under Section 12A of the Income Tax Act, 1961, and runs educational institutions. F...

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Bombay High Court Allows Deduction for Record Production Bonus and Other Expenditures in Income Tax Reference. Payment of record production bonus not hit by section 36(1)(ii) as it was not paid out of profits but as an incentive for extra labour.

This is an income tax reference at the instance of the Revenue (Commissioner of Income Tax) against the assessee, M/s. Tata Iron & Steel Company Limit...

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Supreme Court Dismisses Assessee's Appeal Against Inclusion of Interest Credits as Taxable Income Under Section 4(1)(a) of Income-tax Act, 1922. Mercantile System Credit Entries for Interest from Own Shop in Native State Treated as Income Received in British India.

The assessee, ordinarily resident in British India, carried on business at Khurja and Aligarh in India and at Chistian in the Indian State of Bahawalp...