Search Results for "allowable deduction"

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Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Developer's Challenge to Deemed Conveyance in Favor ...
Bombay High Court Allows Appeal in Arbitration Act Case — Upholds Appointment ...
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High Court of Bombay Quashes Deputy Registrar's Directives in Co-operative Socie...

Search Results for "allowable deduction"

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Supreme Court

Supreme Court Partially Allows NOIDA's Appeal in Land Acquisition Compensation Case — Reduces Compensation from Rs.297 to Rs.120 per sq.yard for 1982 Acquisition. The Court held that compensation for land acquired in 1982 cannot be based on rates for later acquisitions in 1986/1988, following the precedent in U.P. Awas Avam Vikas Parishad vs. State of U.P.

15 Dec 2022

The case pertains to the acquisition of land in Village Gheja Tilapatabad, Tehsil Dadri, District Ghaziabad (now Gautam Budh Nagar) for planned develo...

Supreme Court

Supreme Court Remands Tax Appeal to ITAT for Fresh Adjudication Due to Erroneous Factual Findings. Revenue Expenditure Dispute Over Rs. 3.25 Crore Payment to Promoter Requires Re-examination by Tribunal.

22 Apr 2019

The Supreme Court heard an appeal by the Pr. Commissioner of Income Tax, Nagpur against the judgment of the Bombay High Court (Nagpur Bench) which had...

High Court

Bombay High Court Dismisses Sales Tax Reference by Dealer in Setoff Disallowance Case. Rule 41D of Bombay Sales Tax Rules, 1959 restricts setoff to raw materials and consumable stores, not capital assets like scientific equipment used for research and development.

10 Feb 2015

The case is a sales tax reference under Section 61 of the Bombay Sales Tax Act, 1959, arising from an order of the Maharashtra Sales Tax Tribunal date...

High Court

Bombay High Court Allows Condonation of Delay in Filing Income Tax Return for Refund Claim. CBDT's Rejection of Condonation Application Set Aside as Reasons for Delay Were Genuine and Not Habitual.

3 Dec 2014

The petitioner, Artist Tree Pvt. Ltd., engaged in dealing in artifacts and finances, filed a return of income for Assessment Year 1997-1998 on 14 Sept...

High Court

Bombay High Court Upholds Revenue Nature of Settlement Charges and Legal Expenses in Consent Decree — Expenditure Incurred to Remove Obstruction in Business Held Deductible Under Income Tax Act, 1961. The court held that payments made to settle litigation and remove a hindrance in the conduct of business are revenue expenditure, not capital, as the assessee already owned the business and premises.

30 Mar 2012

The case involved a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, challenging the Tribunal's decision to...

High Court

Bombay High Court Allows Department's Appeal in Part, Upholds Revenue Treatment of Transformer Repairs. Expenditure on repairs of damaged transformer held to be current repairs under Section 31 of Income Tax Act, 1961, not capital expenditure.

21 Oct 2011

The case involves three Income Tax Appeals filed by the Commissioner of Income Tax-I, Nagpur, under Section 260A of the Income Tax Act, 1961, against ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Asset Management Company Tax Case — Notional Addition Based on SEBI Ceiling Not Permissible. Investment advisory fees actually charged, not the maximum permissible under SEBI regulations, constitute taxable income.

12 Sep 2011

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the CIT (A)'s...

High Court

Bombay High Court Dismisses Petition Challenging Tribunal's Refusal to Recall Order on Depreciation of Stock Exchange Membership Card. Court Holds That Reliance on Uncited Precedent Without Hearing Does Not Constitute a Mistake Apparent on Record Under Section 254(2) of the Income Tax Act, 1961.

5 May 2010

The petitioner, M/s Inventure Growth & Securities Limited, filed a writ petition under Article 226 of the Constitution challenging an order of the Inc...

High Court

Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Lack of Reasonable Belief of Income Escaping Assessment. Reassessment Initiated Beyond Four Years Without Fresh Material or Failure to Disclose by Assessee is Invalid.

28 Oct 2005

The judgment concerns two writ petitions filed by M/s German Remedies Ltd., a public limited company engaged in manufacturing pharmaceutical products,...

High Court

Bombay High Court Allows Deduction for Spouse's Foreign Travel Expenses Accompanying Director on Business Trip. The court held that the Tribunal was right in allowing the assessee's claim for foreign travel expenses of the spouse of a director under Section 37(1) of the Income Tax Act, 1961, as the expenditure was incurred wholly and exclusively for business purposes.

19 Aug 2005

The case pertains to an income tax reference under Section 256(1) of the Income Tax Act, 1961, by the Commissioner of Income-tax, Bombay City-I, again...

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