Search Results for "1922"

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Supreme Court Upholds Banking Company's Claim for Rebate on Gross Interest from Tax-Free Securities. Notification under Section 60-A, Income-tax Act, 1922 Interpreted Independently to Allow Rebate on Entire Interest Received Without Deducting Expenses.

The case arose out of an assessment dispute for the assessment year 1956-57 involving a banking company, South Indian Bank Ltd., which had received in...

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Bombay High Court Allows Writ Petition Challenging Rejection of Caste Certificate for Tokre Koli Scheduled Tribe. Orders Fresh Verification by Scrutiny Committee Considering Documentary Evidence Including School Records and Old Certificates.

The petitioners, Prakash Shivram Nikumbh and his minor daughters Manasvi and Divya, filed a writ petition under Article 226 of the Constitution of Ind...

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Supreme Court Allows Appeal in Will Dispute Case — High Court Erred in Interfering with Concurrent Findings of Fact. Will Execution Proved Under Section 63 of Indian Succession Act, 1925 and Section 65(c) of Indian Evidence Act, 1872.

The case involves a dispute over the validity of a Will dated 30.04.1980 executed by Chandu Ram in favor of his grandsons (sons of defendant No.5 Soha...

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Supreme Court Allows Restitution to Judgment Debtor Under Section 144 CPC When Decree Varied and Decree Holder Purchased Property in Auction. Auction Sale Set Aside Due to Variation of Decree and Lack of Bona Fide Purchaser Status.

The appeal arose from a restitution application under Section 144 of the Code of Civil Procedure, 1908 (CPC). The original plaintiff (decree holder) o...

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"Supreme Court of India Resolves Complexities in Taxation of Mineral Rights" "Judgment Clarifies Legislative Powers and the Nature of Royalty in Mining Sector"

The Supreme Court of India addressed a significant dispute regarding the distribution of legislative powers between the Union and the States, specific...

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Supreme Court Dismisses Appeals in Specific Performance Case — Buyer's Readiness and Williness Established. Time Held Not of Essence Due to Seller's Conduct in Accepting Delayed Payments and Continuing Negotiations.

The dispute arose from an agreement for sale of immovable property dated 20th January 2005 between the sellers (appellants in CA 3015/2013) and the bu...

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Supreme Court Allows Revenue Appeal in Income Tax Matter, Holding Bonus Shares Converted into Stock-in-Trade are Taxable as Business Profits. Bonus Shares Initially Received as Capital Held Converted by Assessee Dealer into Stock-in-Trade, Making Sale Proceeds Taxable Under Income-tax Act, 1922.

The dispute concerned the tax treatment of sale proceeds of bonus shares received by a dealer in shares and securities. The assessee, a firm dealing i...